香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 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。 AL Group Limited 利駿集團（香港）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8360） 截至二零二三年三月三十一日止三個月 第一季度業績公告 利駿集團（香港）有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本 公司及其附屬公司（統稱「本集團」）截至二零二三年三月三十一日止三個月之未經 審核業績。 本公告列載本集團二零二三年第一季度報告全文，並符合香港聯合交易所有限公司 （「聯交所」）GEM證券上市規則（「GEM上市規則」）中有關季度業績初步公告附載 之資料之要求。載有GEM上市規則規定資料之本公司二零二三年第一季度報告之 印刷本將於適當時候寄發予本公司股東。 本公司之第一季度業績公告登載於聯交所網站（http://www.hkgem.com）及本公司 網站（www.AL-Grp.com）。 ...

Financial Performance - Total revenue for the year was approximately HKD 140.1 million, an increase of about 28.1% compared to the previous year[8]. - Average revenue per project (excluding maintenance and after-sales services) increased by approximately 55.1% to about HKD 2.90 million[8]. - Gross profit for the year was approximately HKD 15.3 million, a decrease of about 13.1% from the previous year, with a gross profit margin dropping from approximately 16.1% to about 10.9%[8]. - The company recorded a loss attributable to owners of approximately HKD 17.9 million, a reduction of about 44.6% compared to the previous year[8]. - Revenue for the year ended December 31, 2022, was approximately HKD 140.1 million, an increase of about 28.1% compared to HKD 109.4 million in 2021[24]. - Gross profit for the year was approximately HKD 15.3 million, a decrease of about 13.1% from HKD 17.6 million in 2021, with a gross margin dropping from 16.1% to 10.9%[25]. - The number of projects decreased by 17.2% to 48 in 2022, while the average revenue per project increased by 55.1% to approximately HKD 2.9 million[21]. - The company recorded a loss attributable to shareholders of approximately HKD 17.9 million, a reduction of about 44.6% from HKD 32.3 million in 2021[27]. - Total operating expenses for the year were approximately HKD 35.5 million, a decrease of about 37.5% from HKD 56.8 million in 2021[27]. Market and Demand Outlook - Future demand for interior design services is expected to increase due to the COVID-19 pandemic, with a focus on adapting work environments[11]. - The company acknowledges the significant impact of the global market downturn due to COVID-19 but believes the disruption has peaked[12]. - Management remains optimistic about the future development of the interior design and renovation industry in Hong Kong despite market challenges[16]. Business Strategy and Development - The company plans to explore new business lines and expand its core business into different markets to enhance its competitive advantage[23]. - The management is committed to developing current projects to the highest standards while exploring new revenue opportunities[12]. - The company aims to attract top talent and continue to implement COVID-safe measures and technologies[11]. Corporate Governance and Management - The company has a diverse board with members holding significant experience in finance, engineering, and technology[79][81][82]. - The management team includes experienced professionals with backgrounds in real estate, interior design, and technology[70][75][81]. - The company has established procedures for directors to seek independent professional advice as needed[167]. - The board consists of six directors, including three executive directors and three independent non-executive directors[158]. - The company has complied with all corporate governance codes as per GEM listing rules throughout the year[157]. Financial Position and Liabilities - As of December 31, 2022, the group had cash and cash equivalents of approximately HKD 12.2 million, down from HKD 27.4 million as of December 31, 2021[45]. - The current ratio as of December 31, 2022, was approximately 0.9, compared to 1.1 as of December 31, 2021[45]. - Total liabilities as of December 31, 2022, were approximately HKD 70.3 million, an increase from HKD 63.8 million as of December 31, 2021[45]. - The debt-to-equity ratio increased to approximately 30.2% as of December 31, 2022, from 22.3% as of December 31, 2021, primarily due to increased borrowings[45]. Shareholder and Stock Information - The company did not recommend a final dividend for the year, consistent with the previous year[108]. - The company has zero distributable reserves as of December 31, 2022, unchanged from the previous year[115]. - As of December 31, 2022, the major shareholder, 呂宇健, holds 68,403,200 shares, representing 18.99% of the company's issued shares[147]. - The company has maintained a public float of at least 25% of its total issued shares as per GEM listing rules[150]. Community and Environmental Commitment - The company is committed to community service and environmentally friendly practices in its operations[83]. - The company made charitable donations totaling HKD 17,000 for the year, an increase from HKD 3,800 in the previous year[116]. Risk Management - The company relies on timely provision of interior design solutions to meet customer preferences, which poses a risk to financial performance[111]. - The group has no significant foreign currency hedging policy but will consider hedging major foreign currency risks as needed[49]. - The group plans to manage its investment portfolio cautiously in light of recent stock market volatility[58].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 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。 AL Group Limited 利駿集團（香港）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8360） 截至二零二二年十二月三十一日止年度 年度業績公告 利駿集團（香港）有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本 公司及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度的經審 核業績。 本公告列載本集團二零二二年年度報告全文，並符合香港聯合交易所有限公司 （「聯交所」）GEM證券上市規則（「GEM上市規則」）中有關年度業績初步公告附載 之資料之要求。載有GEM上市規則規定資料之本公司二零二二年年度報告之印刷 本將於適當時候寄發予本公司股東。 本公司的年度業績公告已登載於聯交所網站(http://www.hkgem.com)及本公司網站 (www.AL-Grp.com)。 ...

Financial Performance - Total revenue for the nine months ended September 30, 2022, increased by approximately 64% to HKD 103.5 million compared to HKD 63.1 million in the same period of 2021[11] - Gross profit for the nine months ended September 30, 2022, was approximately HKD 14.3 million, a 14.4% increase from HKD 12.5 million in the same period of 2021[11] - Adjusted EBITDA for the nine months ended September 30, 2022, was approximately -HKD 2.0 million, an improvement from -HKD 7.9 million in the same period of 2021[14] - The company recorded a loss attributable to owners of approximately HKD 4.1 million for the nine months ended September 30, 2022, compared to a loss of HKD 12.9 million in the same period of 2021[14] - The operating profit for the nine months ended September 30, 2022, was HKD (4.277) million, compared to HKD (9.321) million for the same period in 2021[24] - The net profit for the nine months ended September 30, 2022, was HKD (4.983) million, improving from HKD (13.503) million for the same period in 2021[24] - Other income for the nine months ended September 30, 2022, was HKD 446,000, slightly down from HKD 456,000 in the same period of 2021[37] Revenue Breakdown - Average revenue per project rose by approximately 27.8% to HKD 2.3 million from HKD 1.8 million in the same period of 2021[9] - For the three months ended September 30, 2022, the Group's revenue from design and renovation services was HKD 38,436,000, a 69.6% increase from HKD 22,676,000 in the same period of 2021[36] - For the nine months ended September 30, 2022, total revenue from design and renovation services reached HKD 102,764,000, up 64.5% from HKD 62,452,000 in the previous year[36] Project and Operational Metrics - The number of projects increased by 29.4% to 44 projects from 34 projects in the same period of 2021[9] - The number of commercial projects increased by 50.0% to 15 from 10 in the same period of 2021[5] - The number of office projects increased by 29.4% to 22 from 17 in the same period of 2021[5] Expenses and Profitability - Total operating expenses for the nine months ended September 30, 2022, were approximately HKD 18.2 million, down from HKD 22.8 million in the same period of 2021[14] - The gross profit margin decreased to 13.8% from 19.9% in the same period of 2021 due to unstable economic conditions and increased material costs[12] Financial Position - As of September 30, 2022, the group had cash and cash equivalents of approximately HKD 14.5 million, down from HKD 27.4 million as of December 31, 2021[15] - The current ratio as of September 30, 2022, was approximately 1.0, compared to 1.1 as of December 31, 2021[15] - Total liabilities as of September 30, 2022, were approximately HKD 69.2 million, an increase from HKD 63.8 million as of December 31, 2021[15] - The debt-to-asset ratio was 21.9% as of September 30, 2022, slightly down from 22.3% as of December 31, 2021[15] - The Group's net liabilities as of September 30, 2022, amounted to HKD 3,454,000, but the directors believe the Group can continue as a going concern[33] Shareholder and Governance Information - The group did not declare any interim dividend for the nine months ended September 30, 2022, consistent with the previous year[19] - The company has adhered to all corporate governance codes as per GEM Listing Rules during the reporting period[69] - No major shareholders reported any interests in the company's shares as of September 30, 2022[65] - The company did not engage in any arrangements that would benefit directors or their associates in acquiring securities of the company or its affiliates during the nine months[66] Future Outlook and Financing - The Group is implementing measures to enhance its sales network and effective cost control to improve profit margins and operating cash flow[33] - The Group continues to seek alternative financing methods and bank loans to meet its financial obligations and future capital expenditures[33] - The group has no significant future investment or capital asset plans as of September 30, 2022[20] Stock Options and Securities - As of September 30, 2022, the company had 947,000 stock options available for exercise at an exercise price of HKD 0.363, unchanged from December 31, 2021[62] - The total proceeds from exercising all outstanding stock options would amount to HKD 344,000, consistent with the amount reported on December 31, 2021[62] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2022[71] - The board confirmed compliance with the GEM Listing Rules regarding securities trading by directors during the nine months ended September 30, 2022[70] - There were no changes in the number of stock options exercised during the reporting period, with a total of 16,000 stock options exercised[53] - The Group has not issued any share options during the nine months ended September 30, 2022[48] Taxation - The estimated tax rate for the Group remains at 16.5% for the nine months ended September 30, 2022, consistent with the previous year[41] Audit and Review - The audit committee reviewed the unaudited financial information for the nine months ended September 30, 2022, and discussed it with management[73]

Revenue and Growth - Total revenue for the six months ended June 30, 2022, was approximately HKD 64.8 million, an increase of about 60.8% compared to HKD 40.3 million in the same period of 2021[10] - The group reported a revenue of HKD 64.812 million for the six months ended June 30, 2022, compared to HKD 40.268 million for the same period in 2021, representing a growth of 61%[31] - Average revenue per project rose by 40% to approximately HKD 2.1 million, compared to HKD 1.5 million in the same period of 2021[8] - Revenue from commercial projects surged by 262.0% to HKD 33.3 million, compared to HKD 9.2 million in the same period of 2021[8] - For the six months ended June 30, 2022, the total revenue from design and renovation services was HKD 64,328,000, an increase of 61.9% compared to HKD 39,776,000 for the same period in 2021[61] Project and Operational Performance - The number of projects completed increased by 19.2% to 31 projects, up from 26 projects in the same period of 2021[5] - The number of office projects increased by 33.3% to 16, while commercial projects rose by 42.9% to 10[5] - The revenue from maintenance and after-sales services for the six months ended June 30, 2022, was HKD 484,000, slightly up from HKD 443,000 in the same period of 2021[61] - Contract assets related to design and renovation services increased to HKD 23,898,000 as of June 30, 2022, compared to HKD 9,349,000 as of December 31, 2021, reflecting a significant growth[86] - Contract liabilities for design and renovation services decreased to HKD 7,456,000 as of June 30, 2022, from HKD 11,155,000 as of December 31, 2021, suggesting improved project completion rates[86] Financial Performance - Gross profit for the six months ended June 30, 2022, was approximately HKD 7.0 million, a decrease of about 23.1% from HKD 9.1 million in the same period of 2021[13] - Gross profit margin decreased from approximately 22.5% to 10.9% due to unfavorable economic conditions and increased material costs[13] - Adjusted EBITDA for the six months ended June 30, 2022, was approximately -HKD 3.7 million, an improvement from -HKD 7.1 million in the same period of 2021[14] - The company recorded a loss attributable to owners of approximately HKD 5.0 million, compared to a loss of approximately HKD 10.4 million in the same period of 2021[14] - Total comprehensive expenses for the six months ended June 30, 2022, amounted to HKD (5,795) thousand, a decrease from HKD (11,019) thousand in the previous year[34] Cash Flow and Liquidity - As of June 30, 2022, the group had cash and cash equivalents of approximately HKD 11.6 million, down from HKD 27.4 million as of December 31, 2021[16] - The net cash used in operating activities was HKD (15,520) thousand for the six months ended June 30, 2022, compared to HKD (12,105) thousand in the previous year[46] - The company recorded a net cash inflow from investing activities of HKD 440 thousand, a recovery from a cash outflow of HKD (367) thousand in the prior year[46] - The current ratio as of June 30, 2022, was approximately 0.99, compared to 1.1 as of December 31, 2021[16] - The company recorded a net current liability of HKD 405,000 as of June 30, 2022, indicating potential liquidity concerns[53] Expenses and Cost Management - Total operating expenses decreased to approximately HKD 12.0 million from HKD 18.2 million in the same period of 2021, primarily due to reduced employee benefits and advertising costs[13] - The group incurred a total employee benefit expense of approximately HKD 8.5 million for the six months ended June 30, 2022, down from HKD 10.4 million for the same period in 2021[28] - Advertising costs for the six months ended June 30, 2022, were HKD 235,000, a significant decrease from HKD 3,038,000 in the same period of 2021, reflecting a reduction of approximately 92.24%[71] - Total other income for the six months ended June 30, 2022, was HKD 245,000, down from HKD 294,000 in the same period of 2021, representing a decrease of approximately 16.67%[67] - The total expenses for the six months ended June 30, 2022, were HKD 3,547,000, a decrease from HKD 7,774,000 in the same period of 2021, indicating a reduction of approximately 54.45%[71] Shareholder and Equity Information - The issued and paid-up share capital as of June 30, 2022, was HKD 100,000,000, with a total share premium of HKD 131,924,000[91] - The total equity attributable to owners of the company decreased from HKD 23,334 thousand to HKD 18,458 thousand, reflecting the overall loss during the period[38] - The company did not declare any interim dividends for the six months ended June 30, 2022, consistent with the previous year[22] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending June 30, 2022[140] Management and Corporate Governance - The audit committee, established on June 15, 2016, consists of three independent non-executive directors and is responsible for reviewing financial statements and internal control procedures[142] - The company relies heavily on the management team for business operations and performance[127] - The total remuneration for key management personnel in 2022 was HKD 1,463,000, a substantial increase from HKD 702,000 in 2021[106] Risks and Future Outlook - The company faces significant risks including the inability to secure new contracts, which could materially impact financial performance[127] - The company is implementing various measures to enhance its overall sales network and effective cost control to improve profit margins and operating cash flow[53] - The company continues to seek alternative financing methods and bank loans to meet its existing financial obligations and future capital expenditures[53] Investments and Market Presence - The company has successfully acquired 60% equity in ACE Architectural and Interior Design Limited, enhancing its market presence since November 2017[109] - The company has allocated HKD 6,840,000 (12%) of the net proceeds for acquiring larger-scale design and renovation projects[125] - The company has focused on increasing brand awareness and marketing effectiveness, investing in advertising across various platforms[120] - The company has maintained a cautious approach to utilizing remaining listing proceeds, delaying further expenditures to align with market conditions[122] - The company has engaged in various charitable contributions to enhance its corporate image and community presence[120]

Financial Performance - Total revenue for the three months ended March 31, 2022, increased by approximately 47.2% to about HKD 26.2 million compared to HKD 17.8 million in the same period of 2021[9] - Gross profit for the three months ended March 31, 2022, was approximately HKD 4.9 million, up about 44.1% from HKD 3.4 million in the same period of 2021[13] - Revenue for the three months ended March 31, 2022, was HKD 26,206 thousand, an increase from HKD 17,842 thousand for the same period in 2021, representing a growth of approximately 47.5%[29] - The operating loss for the three months ended March 31, 2022, was HKD 1,069 thousand, an improvement from an operating loss of HKD 4,868 thousand in the same period of 2021[21] - The net loss for the three months ended March 31, 2022, was HKD 1,264 thousand, compared to a net loss of HKD 6,257 thousand for the same period in 2021[21] - Basic loss per share for the three months ended March 31, 2022, was HKD 0.18, an improvement from HKD 0.67 for the same period in 2021[21] - The company reported a loss attributable to shareholders of HKD 1,595,000 for the three months ended March 31, 2022, compared to a loss of HKD 5,937,000 for the same period in 2021, representing a 73% improvement[36] Project and Revenue Metrics - The number of projects increased by approximately 42.9%, from 14 projects in 2021 to 20 projects in 2022[5] - Average revenue per project rose from approximately HKD 1.27 million in 2021 to about HKD 1.31 million in 2022, reflecting a 3.1% increase[7] Expenses and Cost Management - Operating expenses decreased to approximately HKD 6.2 million in Q1 2022 from HKD 8.7 million in Q1 2021, primarily due to reduced administrative expenses[13] - The company continues to implement stringent cost control measures to maintain profit margins amid ongoing economic challenges[13] Cash and Liabilities - Cash and cash equivalents as of March 31, 2022, were approximately HKD 8.8 million, down from HKD 27.4 million as of December 31, 2021[14] - Total liabilities as of March 31, 2022, were approximately HKD 48.8 million, a decrease from HKD 63.8 million as of December 31, 2021[15] - The debt-to-capital ratio increased to 29.6% as of March 31, 2022, compared to 22.3% as of December 31, 2021, primarily due to a decrease in cash and bank balances[16] - As of March 31, 2022, the current ratio was approximately 1.1 times, unchanged from December 31, 2021[15] Corporate Governance and Compliance - The company confirmed compliance with all corporate governance codes as per GEM Listing Rules during the reporting period[49] - The company established an audit committee on June 15, 2016, consisting of three independent non-executive directors to oversee financial reporting and internal controls[53] Shareholder Information - No interim dividend was declared for the three months ended March 31, 2022, consistent with the previous year[18] - The weighted average number of ordinary shares was 882,356,000 for both periods, resulting in a basic loss per share of HKD 0.18 for 2022, compared to HKD 0.67 in 2021[36] - The company did not present diluted loss per share for the period ended March 31, 2022, due to the anti-dilutive effect of the share options granted[37] Rights Issue and Capital Management - The company raised approximately HKD 71.96 million from a rights issue, with net proceeds of about HKD 53.5 million used to repay promissory notes and interest expenses[43] - As of March 31, 2022, approximately HKD 9.5 million of the net proceeds from the rights issue had been used for general working capital[43] Acquisitions and Business Development - On October 15, 2021, a wholly-owned subsidiary, Legend Start Limited, entered into an agreement to acquire 100% of the shares of a company for a total cash consideration of HKD 420,000[54] - The acquisition involved payments of HKD 126,000, HKD 213,000, and HKD 63,000 for shares completed on October 15, 2021, December 1, 2021, and April 25, 2022, respectively[54] - The acquired company primarily provides insurance brokerage services, allowing the group to explore new business development opportunities[54] Other Information - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the three months ended March 31, 2022[19] - The group had no significant contingent liabilities or capital commitments as of March 31, 2022[17] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the three months ended March 31, 2022[52] - The company has not entered into any arrangements that would allow directors or key executives to benefit from acquiring shares or bonds of the company or any other entity during the reporting period[47] - As of the report date, there were no significant events occurring after the financial report date[55]

Financial Performance - Total revenue for the year was approximately HKD 109.4 million, an increase of about 63.2% compared to 2020[10] - Average revenue per project (excluding maintenance and after-sales services) increased by approximately 83.3% to about HKD 1.87 million[10] - Gross profit for the year was approximately HKD 17.6 million, an increase of about 16.4% compared to 2020, with a gross margin of approximately 16.1%[10] - The loss attributable to the owners of the company was approximately HKD 32.3 million, a decrease of about 15.0% compared to 2020[10] - Revenue for the year ended December 31, 2021, increased by approximately 63.2% to HKD 109.4 million compared to HKD 67.1 million in 2020[26] - Gross profit for the year was approximately HKD 17.6 million, an increase of about 16.4% from HKD 15.1 million in 2020, with a gross margin decline from 22.6% to 16.1%[28] - The number of projects decreased by 10.8% to 58 in 2021, while the average revenue per project increased by approximately 83.3% to about HKD 1.87 million[23] - Operating expenses for the year were approximately HKD 57.3 million, an increase of about 55.7% from HKD 36.8 million in 2020[31] - Adjusted EBITDA for the year was approximately -HKD 35.4 million, compared to -HKD 15.6 million in 2020, primarily due to increased operating expenses[31] Market and Business Strategy - The company plans to closely monitor the potential impacts of the COVID-19 pandemic on its business moving forward[9] - The demand for interior design services is expected to increase due to the COVID-safe environment[14] - The company aims to attract top talent and continue to implement COVID-safe measures and technologies[14] - The company is focused on developing current projects to the highest standards while exploring new revenue opportunities[15] - Management remains optimistic about the future development of the interior design and renovation industry in Hong Kong, citing government policies and market trends[18] - The company plans to explore new business lines and expand its core business into different markets to enhance its competitive advantage[25] - The company is focused on expanding its market presence and exploring new business opportunities[107] Corporate Governance and Management - The board of directors includes experienced professionals with backgrounds in engineering, finance, and project management[92][93][98] - The company has adhered to all corporate governance codes as outlined in GEM listing rules Appendix 15 during the fiscal year[165] - The company’s executive director and CEO, Mr. Kwan, also serves as the chairman, which the board believes enhances operational efficiency despite the recommendation to separate these roles[173] - The company has obtained liability insurance for directors and senior officers during the year[142] - The company provides independent professional advice to directors to assist them in fulfilling their duties under GEM listing rules[174] - The company has insurance to indemnify directors and senior management against losses arising from their duties[174] Social Responsibility and Community Engagement - The company has received recognition for its corporate social responsibility efforts, including the "Caring Company" logo from the Hong Kong Council of Social Service[13] - The company has a strong commitment to community service and charitable activities[95] - The company made charitable donations totaling HKD 3,800 during the year, down from HKD 6,000 in the previous year[129] Employee and Operational Insights - The total employee cost for the year was approximately HKD 18.7 million, a slight increase from HKD 18.5 million in the previous year, attributed to salary adjustments due to revenue growth[77] - As of December 31, 2021, the group had 31 employees, down from 40 employees a year earlier[77] - The management team has extensive experience, with key members having over 27 years in interior design and project management[95][99] Financial Position and Capital Management - As of December 31, 2021, the net proceeds from the IPO amounted to approximately HKD 57 million, with planned allocations including HKD 15,225,000 (27%) for recruiting high-quality talent[45] - The current ratio as of December 31, 2021, was approximately 1.1 times, down from 1.3 times as of December 31, 2020[55] - The total liabilities as of December 31, 2021, were approximately HKD 63.8 million, a decrease from HKD 111.6 million as of December 31, 2020[55] - The debt-to-capital ratio decreased to approximately 22.3% as of December 31, 2021, from 75.0% as of December 31, 2020, primarily due to the repayment of promissory notes[56] Risk Management - The company faces risks including reliance on management team performance and potential delays or non-compliance from suppliers[119] - The independent environmental, social, and governance report is expected to be published within five months after the year-end[109] Shareholder and Equity Information - The company does not recommend a final dividend for the year, consistent with the previous year[121] - The company reported zero distributable reserves as of December 31, 2021, consistent with the previous year[128] - The company has no outstanding equity-linked agreements that could lead to the issuance of new shares[125] - The company maintained a public float of at least 25% of its issued shares in compliance with GEM listing rules[159] Board and Committee Activities - The company held a total of 8 board meetings in the year ending December 31, 2021, with a minimum of four meetings scheduled annually[175] - The Audit Committee held five meetings during the year[191] - The Remuneration Committee reviewed the group's remuneration policies and strategies, providing recommendations to the board[196] - The Nomination Committee held two meetings during the year and reviewed the current board structure and diversity policy[199]

Financial Performance - For the nine months ended September 30, 2021, total revenue increased by approximately 40.4% to HKD 63.1 million compared to HKD 44.8 million in the same period of 2020[10]. - The gross profit for the same period was approximately HKD 12.5 million, representing a 42.1% increase from HKD 8.8 million in 2020, with a gross margin of 19.9%[12]. - The company recorded a loss attributable to owners of approximately HKD 12.9 million, a significant improvement from a loss of HKD 31.7 million in the same period of 2020[14]. - The adjusted EBITDA for the nine months was approximately -HKD 7.9 million, compared to -HKD 7.2 million in 2020[14]. - The total operating expenses increased to approximately HKD 22.8 million from HKD 19.4 million in the previous year[14]. - The company reported a loss before tax of HKD 13.58 million for the nine months ended September 30, 2021, compared to a loss of HKD 33.75 million for the same period in 2020[24]. - The basic loss per share for the nine months ended September 30, 2021, was HKD (9.92), compared to HKD (45.28) for the same period in 2020, indicating an improvement in performance[34]. - The company reported a total comprehensive expense of HKD 13,495,000 for the nine months ended September 30, 2021, down from HKD 34,572,000 in the same period of 2020, a reduction of about 61%[34]. Revenue Sources - The revenue from commercial projects surged by 868.4% to HKD 18.4 million, while revenue from residential projects increased by 111.1% to HKD 5.7 million[6]. - The design and renovation segment generated revenue of HKD 22,676,000 for the three months ended September 30, 2021, compared to HKD 2,732,000 in the same period of 2020, marking an increase of about 730%[34]. - The company’s revenue from maintenance and after-sales services increased to HKD 590,000 for the nine months ended September 30, 2021, from HKD 294,000 in the same period of 2020, representing a growth of approximately 100%[34]. Project and Operational Changes - The number of projects decreased by 29.2% to 34 projects, while the average revenue per project increased by 100.0% to approximately HKD 1.8 million[4][7]. - The number of office projects decreased by 52.8% to 17, while the number of commercial projects increased to 10 from 5[4]. - The company continues to focus on large-scale projects, which have contributed to revenue growth and improved gross margins[12]. Share and Capital Management - The company completed a share consolidation, merging every ten existing shares into one, resulting in a total issued share capital of HKD 100 million, divided into 1 billion shares with a par value of HKD 0.10 each[15]. - The company raised approximately HKD 71.96 million through a rights issue, issuing 266,520,000 shares at a subscription price of HKD 0.27 per share[15]. - The weighted average number of ordinary shares increased from 69,937,000 in the nine months ended September 30, 2020, to 130,209,000 in the same period of 2021 due to a share consolidation[41]. Financial Position - As of September 30, 2021, the company had cash and cash equivalents of approximately HKD 29.8 million, up from HKD 24.6 million as of December 31, 2020[15]. - The total liabilities of the group were approximately HKD 99.7 million as of September 30, 2021, a decrease from HKD 111.6 million as of December 31, 2020[16]. - The debt-to-asset ratio was 12.5% as of September 30, 2021, significantly improved from 75.0% as of December 31, 2020[18]. Governance and Compliance - The company complied with all corporate governance codes as per GEM listing rules, except for one specific provision[56]. - The audit committee, established on June 15, 2016, consists of three independent non-executive directors and is responsible for reviewing financial statements and overseeing internal control procedures[61]. - The audit committee has reviewed the unaudited financial information and third-quarter report for the nine months ending September 30, 2021[61]. Tax and Other Income - The estimated tax expense for the nine months ended September 30, 2021, was HKD (72,000), compared to HKD 7,000 in the same period of 2020, indicating a tax reduction[39]. - The company has not incurred any tax liabilities in the Cayman Islands or British Virgin Islands, maintaining a favorable tax position[39]. - Other income for the nine months ended September 30, 2021, included dividend income of HKD 31,000, compared to HKD 900,000 in the same period of 2020, showing a decrease of approximately 96%[35].

Financial Performance - Total revenue for the six months ended June 30, 2021, was approximately HKD 40.3 million, a decrease of about 4.0% compared to HKD 41.9 million in the same period of 2020[10] - Gross profit for the same period was approximately HKD 9.1 million, an increase of about 8.3% from HKD 8.4 million in 2020, with a gross margin rising from 20.0% to 22.5%[13] - Adjusted EBITDA for the period was (HKD 7.1 million), compared to (HKD 2.3 million) in the same period of 2020[10] - The company reported a loss attributable to owners of the company of (HKD 10.4 million) for the six months ended June 30, 2021, compared to (HKD 25.0 million) in 2020[10] - Revenue for the three months ended June 30, 2021, was HKD 22,426 thousand, representing a 47.5% increase from HKD 15,176 thousand in the same period of 2020[33] - Total comprehensive loss for the six months ended June 30, 2021, was HKD 11,019 thousand, compared to HKD 27,088 thousand in the same period of 2020[35] - Basic loss per share for the six months ended June 30, 2021, was HKD (0.12), compared to HKD (0.40) for the same period in 2020[35] - The company reported a basic loss attributable to owners of approximately HKD 10,405,000 for the six months ended June 30, 2021, compared to a loss of HKD 25,028,000 for the same period in 2020, representing a 58.4% improvement[69] Project and Operational Metrics - The number of projects completed decreased by 31.6% to 26 projects in 2021 from 38 projects in 2020, primarily due to project delays and the ongoing negative impact of COVID-19[5] - Average revenue per project increased by approximately 36.4% to about HKD 1.5 million in 2021 from HKD 1.1 million in 2020[8] - The number of office projects decreased by 63.6% to 12 in 2021, while commercial projects increased by 133.3% to 7, and residential projects increased by 250.0% to 7[5] - The company continues to focus on larger projects, which have helped maintain competitive advantages and business growth despite the unstable business environment[13] Expenses and Liabilities - Total operating expenses for the six months ended June 30, 2021, were approximately HKD 18.2 million, up from HKD 12.9 million in 2020, mainly due to increased employee benefits and advertising costs[13] - The adjusted EBITDA for the six months ended June 30, 2021, was approximately -7.1 million HKD, compared to -2.3 million HKD for the same period in 2020, primarily due to the combined effects of an overall increase in gross profit and total operating expenses[14] - Total liabilities as of June 30, 2021, were approximately 120.5 million HKD, an increase from approximately 111.6 million HKD as of December 31, 2020[16] - The debt-to-asset ratio as of June 30, 2021, was 78.4%, up from 75.0% as of December 31, 2020, primarily due to an increase in the carrying amount of promissory notes[16] Cash Flow and Equity - As of June 30, 2021, the group had cash and cash equivalents of approximately 12.0 million HKD, down from approximately 24.6 million HKD as of December 31, 2020[16] - The current ratio as of June 30, 2021, was approximately 0.7, compared to 1.3 as of December 31, 2020[16] - The company reported a net cash outflow from operating activities of HKD 12,105,000 compared to a net inflow of HKD 1,255,000 in the same period of 2020[43] - The company’s total equity attributable to owners was HKD (23,999,000), a decrease from HKD (14,393,000) at the beginning of the period[41] Share Capital and Issuance - The company issued 266,520,000 new shares at a subscription price of HKD 0.27 per share, which was approved by shareholders on August 10, 2021[48] - The company's issued and paid-up share capital increased to 888,400,000 shares as of June 30, 2021, from 872,400,000 shares as of December 31, 2020[91] - The company proposed a share consolidation of every ten existing shares into one consolidated share with a nominal value of HKD 0.1[93] - The company also proposed a rights issue of three shares for every one consolidated share held at a subscription price of HKD 0.27 per rights share[93] Acquisitions and Investments - The group completed the acquisition of YTO Limited for a total consideration of 4,480,000 HKD, paid through the issuance of 112,000,000 shares, representing approximately 15.84% of the enlarged issued share capital[28] - The identifiable net assets acquired from YTO amounted to HKD 1,349,000, with total assets including property, plant, and equipment of HKD 5,615,000 and total liabilities of HKD 4,266,000[106] - Cash and cash equivalents acquired from YTO were HKD 1,436,000, contributing to a net cash inflow of HKD 1,436,000 from the acquisition[107] Marketing and Strategic Plans - The company plans to expand its operations and has proposed a rights issue to strengthen its capital base[48] - The company plans to expand its market coverage and has relocated its office to Kwun Tong, enhancing its image with innovative designs[126] - The company continues to invest in marketing efforts, including advertising in MTR stations and donations to charities to enhance its corporate image[140] Corporate Governance and Compliance - The board believes the company has complied with all corporate governance codes as per GEM listing rules during the six months ending June 30, 2021[160] - The company has adopted a code of conduct for directors regarding securities trading, confirming compliance for the six months ending June 30, 2021[161] - An audit committee was established on June 15, 2016, consisting of three independent non-executive directors, responsible for reviewing financial statements and overseeing internal control procedures[164]

Financial Performance - Total revenue for the three months ended March 31, 2021, decreased by approximately 33.1% to about HKD 17.8 million compared to HKD 26.6 million in the same period of 2020[9]. - The number of projects decreased by approximately 46.2%, from 26 projects in 2020 to 14 projects in 2021[5]. - The average revenue per project increased by 24.5%, from approximately HKD 1.02 million in 2020 to approximately HKD 1.27 million in 2021[7]. - Gross profit for the three months ended March 31, 2021, was approximately HKD 3.4 million, a decrease of about 21.5% from HKD 4.3 million in 2020[12]. - The gross profit margin increased from approximately 16.0% in 2020 to approximately 18.8% in 2021[12]. - Adjusted EBITDA for the three months ended March 31, 2021, was approximately -HKD 4.4 million, compared to -HKD 1.8 million in the same period of 2020[12]. - The loss attributable to owners of the company for the three months ended March 31, 2021, was approximately HKD 5.9 million, compared to a loss of approximately HKD 3.9 million in 2020[12]. - The operating loss for the three months ended March 31, 2021, was HKD 4,868 thousand, compared to an operating loss of HKD 3,370 thousand for the same period in 2020[20]. - The net loss for the period was HKD 6,257 thousand, compared to a net loss of HKD 4,601 thousand for the same period in 2020[20]. - The company reported a net loss attributable to shareholders of HKD 5,937,000 for the three months ended March 31, 2021, compared to a net loss of HKD 3,856,000 for the same period in 2020, representing an increase in loss of approximately 53.8%[35]. - The basic loss per share for the three months ended March 31, 2021, was HKD 0.67, compared to HKD 0.65 for the same period in 2020, indicating a slight increase in loss per share[35]. Operating Expenses and Liabilities - Operating expenses for the three months ended March 31, 2021, increased to approximately HKD 8.7 million from HKD 7.1 million in 2020[12]. - Total liabilities as of March 31, 2021, were approximately HKD 117.6 million, an increase from HKD 111.6 million as of December 31, 2020[13]. - The debt-to-capital ratio was approximately 75.6% as of March 31, 2021, up from 75.0% as of December 31, 2020, primarily due to an increase in the book value of promissory notes[15]. Cash and Current Ratio - As of March 31, 2021, the group's cash and cash equivalents amounted to approximately HKD 17.6 million, down from HKD 24.6 million as of December 31, 2020[13]. - The current ratio as of March 31, 2021, was approximately 1.2, compared to 1.3 as of December 31, 2020[13]. Project and Service Revenue - The company experienced a significant decrease in the number of office projects, which fell by 59.1% from 22 in 2020 to 9 in 2021[5]. - The group’s main service revenue from design and renovation for the three months ended March 31, 2021, was HKD 17,780 thousand, down from HKD 26,632 thousand for the same period in 2020[29]. Share Options and Major Shareholders - The company has a share option scheme in place, which was approved on June 15, 2016, and aims to attract and retain talented personnel, with a term of 10 years[38]. - As of March 31, 2021, the company had a total of 8,000,000 shares available for issuance under the share option scheme, representing approximately 0.9% of the total issued shares[41]. - The company granted a total of 48,000,000 share options on October 9, 2020, with an exercise price of HKD 0.043 per share, while the closing price on the grant date was HKD 0.042[39]. - The company’s major shareholders include Climb Up Limited, which holds 115,000,000 shares, representing 12.94% of the issued voting shares[48]. Tax and Dividends - The company’s tax expense is calculated at a rate of 16.5% for Hong Kong profits tax, consistent with the previous year[32]. - The company did not declare any interim dividend for the three months ended March 31, 2021, consistent with the previous year[17]. Corporate Governance and Compliance - The company has adopted a code of conduct regarding securities trading by directors, which is not less stringent than the GEM Listing Rules[54]. - The audit committee has reviewed the unaudited financial information and the first-quarter report for the three months ended March 31, 2021[57]. - There were no arrangements made by the company or any related entities that would allow directors to benefit from acquiring shares or bonds of the company[42]. - The company and its subsidiaries did not enter into any arrangements that would allow directors or their associates to acquire securities of the company or its affiliates during the three months ended March 31, 2021[51]. - The board confirmed that there were no business activities directly or indirectly competing with the group during the three months ended March 31, 2021, except for the independent operation of ACE Architectural and Interior Design Limited[52]. - The company did not report any diluted loss per share for the three months ended March 31, 2021, due to the anti-dilutive effect of share options[36]. - As of March 31, 2021, the company did not receive any notifications regarding interests or short positions in its shares that require disclosure under the Securities and Futures Ordinance[49].