香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不對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之任何損失承擔任何責任。 SATU HOLDINGS LIMITED 舍 圖 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8392） 截至二零二三年三月三十一日止年度之 年度業績公告 舍圖控股有限公司（「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年度之經審核綜合年度業績（「年度 業績」）。本公告載有本公司截至二零二三年三月三十一日止年度之年報（「年報」）全文， 符合聯交所GEM證券上市規則（「GEM上市規則」）有關初步年度業績公告附載的資料之相 關規定。年度業績已由本公司審核委員會審閱。年報印刷本將於適當時候寄發予本公司 股東，並於聯交所網站www.hkexnews.hk及本公司網站www.satuhome.com可供查閱。 承董事會命 舍圖控股有限公司 主席 佘良材 ...

Revenue Performance - The total revenue for the group was approximately HKD 50.0 million, a decrease of about 55.9% compared to approximately HKD 113.5 million in the previous period[7]. - Revenue from home goods exports contributed approximately 87.3% to total revenue, amounting to about HKD 43.6 million, down approximately 59.0% from the previous period[7]. - Revenue for the three months ended December 31, 2022, was HKD 12,315,000, a decrease of 50.7% compared to HKD 24,944,000 in the same period of 2021[39]. - Total revenue for the nine months ended December 31, 2022, was HKD 50,047,000, down 56.0% from HKD 113,527,000 in the same period of 2021[55]. - Revenue from Denmark in Q3 2022 was HKD 2,578,000, a decline of 51.5% compared to HKD 5,320,000 in Q3 2021[57]. - Revenue from the United States increased to HKD 1,276,000 in Q3 2022, up 30.9% from HKD 975,000 in Q3 2021[57]. - Major customer A contributed HKD 2,579,000 in Q3 2022, down 57.4% from HKD 6,053,000 in Q3 2021[58]. Profitability and Loss - The group recorded a loss attributable to the owners of the company of approximately HKD 0.6 million, compared to a profit of approximately HKD 7.4 million in the previous period[9]. - The company reported a net loss attributable to owners of HKD 1,504,000 for the three months ended December 31, 2022, compared to a profit of HKD 1,031,000 in the same period of 2021[41]. - For the nine months ended December 31, 2022, the loss attributable to shareholders was HKD 627,000, a significant decline from a profit of HKD 7,371,000 in the previous year[71]. - The company recorded other comprehensive loss of HKD 1,478,000 for the three months ended December 31, 2022, compared to a gain of HKD 1,004,000 in the same period of 2021[41]. - Total comprehensive loss for the nine months ended December 31, 2022, was HKD 474,000, a decrease from a comprehensive income of HKD 7,324,000 in the previous year[41]. Cost Management - Selling and distribution expenses decreased to approximately HKD 8.8 million, down about 9.3% from approximately HKD 9.7 million in the previous period[16]. - The cost of home goods for the three months ended December 31, 2022, was HKD 6,866,000, down from HKD 16,402,000 in the same period of 2021, representing a decrease of approximately 58.2%[71]. - Employee costs, including directors' remuneration, totaled HKD 2,011,000 for the three months ended December 31, 2022, compared to HKD 2,252,000 in the same period of 2021, reflecting a decrease of about 10.7%[71]. - The depreciation of right-of-use assets for the three months ended December 31, 2022, was HKD 154,000, compared to HKD 190,000 in the same period of 2021, indicating a decrease of approximately 18.9%[71]. - The company incurred rental expenses of HKD 402,000 for office properties during the three months ended December 31, 2022, down from HKD 443,000 in the same period of 2021, a decrease of approximately 9.3%[73]. Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, but the roles of Chairman and CEO are not separated, with Mr. She holding both positions, representing 61.125% of the shares[30]. - The company has established an audit committee consisting of three independent non-executive directors to review accounting standards and policies[38]. - The company has confirmed compliance with all applicable provisions of the corporate governance code during the reporting period, except for the separation of the Chairman and CEO roles[30]. - No directors or major shareholders have interests that could directly or indirectly compete with the company's business[36]. - The company has implemented a code of conduct for directors regarding securities trading, confirming full compliance with the standards set forth in GEM Listing Rules[28]. Future Outlook - The group anticipates a challenging operating environment for the remainder of the fiscal year ending March 31, 2023, due to ongoing global economic pressures[10]. - The group will continue to launch more product varieties and expand its sales network and customer base to enhance revenue and profitability[10]. - The company will continue to review the need for appointing a suitable candidate for the CEO role in the future[30]. Financial Position - The company’s total equity attributable to owners decreased to HKD 35,070,000 as of December 31, 2022, from HKD 39,560,000 at the end of the previous year[44]. - Non-current assets in Hong Kong as of December 31, 2022, were HKD 117,000, down from HKD 690,000 as of March 31, 2022[57]. - Interest income for the nine months ended December 31, 2022, was HKD 191,000, a decrease of 13.2% from HKD 220,000 in the same period of 2021[55]. - The effective tax rate for the company in Hong Kong is 8.25% for the first HKD 2 million of profits, and 16.5% for profits exceeding that amount[65].

中期 Interim 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在 風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司一般為中小型公司，在GEM買賣的證券可能會較於主板買賣之 證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的 市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不對因本報告全部或任何部分內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 本報告的資料乃遵照聯交所《GEM證券上市規則》（「GEM上市規則」）而刊載，旨在 提供有關舍圖控股有限公司（「本公司」）的資料；本公司的董事（「董事」）願就本報 告的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後確認，就彼 等所知及所信，本報告所載的資料在各重大方面乃準確完整，且無誤導或欺詐成 份，並概無遺漏任何其他事宜致使本報告或其所載任何陳述產生誤導。 1 舍圖控股有限公司 • 2022/2 ...

Revenue Performance - Total revenue for the group was approximately HKD 17.4 million, a decrease of about 45.5% compared to approximately HKD 31.9 million in the previous period[6]. - Revenue from home goods export business contributed approximately 88.6% to total revenue, amounting to about HKD 15.4 million, down approximately 49.2% from the previous period[6]. - E-commerce sales performance improved by approximately 60.3% compared to the previous period, contributing about 6.0% to total revenue[6]. - Revenue for the three months ended June 30, 2022, was HKD 17,404,000, a decrease of 45% compared to HKD 31,913,000 for the same period in 2021[38]. - Revenue for home goods sales decreased to HKD 17,404,000 in Q1 2022 from HKD 31,913,000 in Q1 2021, representing a decline of approximately 45%[54]. - Revenue from Denmark increased to HKD 5,083,000, up 55% from HKD 3,269,000 in the previous year, while revenue from the US surged to HKD 4,484,000 from HKD 561,000[57]. Profitability - The group recorded a profit attributable to the owners of the company of approximately HKD 0.6 million, down from approximately HKD 0.9 million in the previous period, a decrease of about 33.3%[19]. - Gross profit margin increased from approximately 18.8% in the previous period to about 32.7% in the current period, attributed to higher margin orders from a specific client[6]. - Gross profit for the same period was HKD 5,916,000, down 8.5% from HKD 6,466,000 year-over-year[38]. - Operating profit decreased to HKD 636,000, a decline of 31.2% from HKD 925,000 in the previous year[38]. - Profit attributable to owners of the company was HKD 624,000, down 31.5% from HKD 910,000 in the same quarter of 2021[38]. - Basic and diluted earnings per share were HKD 0.06, compared to HKD 0.09 for the same period last year[38]. - Basic and diluted earnings per share for the period were HKD 0.624, a decrease from HKD 0.910 in the same period last year[73]. Expenses - Selling and distribution expenses decreased to approximately HKD 2.5 million, a reduction of about 7.4% from approximately HKD 2.7 million in the previous period[14]. - The company reported a decrease in sales and distribution expenses to HKD 2,455,000 from HKD 2,748,000, a reduction of 10.6%[38]. - Administrative expenses slightly increased by about 3.3% to approximately HKD 3.1 million from approximately HKD 3.0 million in the previous period[15]. - Administrative expenses increased to HKD 3,085,000 from HKD 2,957,000, an increase of 4.3% year-over-year[38]. - Financial costs decreased by approximately 55.6% to about HKD 4,000 from approximately HKD 9,000 in the previous period[16]. - The interest expense on lease liabilities decreased to HKD 4,000 from HKD 9,000 year-on-year[64]. Other Income and Gains - Other income and net gains increased to approximately HKD 260,000, up from approximately HKD 164,000 in the previous period, primarily due to non-recurring government subsidies[13]. - Government subsidies amounted to HKD 112,000, while interest income dropped significantly to HKD 6,000 from HKD 92,000 year-on-year[54]. - Other comprehensive income included a foreign exchange gain of HKD 49,000, compared to a loss of HKD 18,000 in the previous year[41]. - The company recorded a net foreign exchange gain of HKD 42,000 compared to a loss of HKD 26,000 in the previous year[70]. Corporate Governance - The company does not recommend the payment of any interim dividend for the current period, consistent with the previous period[21]. - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, but the roles of Chairman and CEO are not separated, with Mr. She serving both roles[25]. - The company has established an audit committee consisting of three independent non-executive directors to review accounting standards and policies[36]. - The company has confirmed compliance with the GEM Listing Rules regarding directors' securities trading conduct, with no known violations[26]. - The board believes the current governance structure allows for efficient decision-making and management implementation[25]. - The company will continue to review the need for appointing a separate CEO in the future[25]. - The audit committee has reviewed the unaudited consolidated financial information for the period[36]. Shareholding Structure - As of June 30, 2022, Mr. She holds 611,250,000 shares, representing 61.125% of the company's equity[28]. - Ms. Chan holds 86,250,000 shares through a controlled corporation, accounting for 8.625% of the company's equity[28]. Competition and Market Position - The company has no known direct or indirect competition that could affect its business operations[34]. - Major customers contributed significantly, with Customer A generating HKD 4,896,000 and Customer B contributing HKD 3,300,000, both exceeding 10% of total revenue[62]. Employee Benefits - Short-term employee benefits increased to HKD 675,000 in 2022 from HKD 647,000 in 2021, representing a growth of approximately 4.33%[80]. - Retirement benefit plan contributions remained stable at HKD 18,000 for both 2022 and 2021[80]. - Total employee benefits for 2022 amounted to HKD 693,000, up from HKD 665,000 in 2021, indicating an increase of about 4.22%[80].

Financial Performance - The company's revenue for the fiscal year ending March 31, 2022, was approximately HKD 125.8 million, representing a significant increase of about 107.6% compared to the previous fiscal year[10]. - Gross profit for the same period was approximately HKD 29.5 million, an increase of about HKD 11.1 million from the previous fiscal year, although the gross margin decreased from approximately 30.4% to 23.5%[10]. - The company recorded a profit attributable to owners of approximately HKD 3.4 million, a turnaround from a loss of HKD 7.3 million in the previous fiscal year[10]. - Revenue from home goods exports increased significantly from approximately HKD 53.3 million to about HKD 116.0 million, driven by increased sales orders from three major customers[10]. - The company's private label products saw a remarkable revenue increase of approximately 185.7% compared to the previous fiscal year[11]. - The group's total revenue for the year was approximately HKD 125.8 million, a significant increase of about 107.6% compared to HKD 60.6 million in the previous fiscal year[17]. - Home goods export business contributed approximately 92.3% to the total revenue, with sales rising from approximately HKD 53.3 million to about HKD 116.0 million[15]. - The gross profit margin decreased to approximately 21.4% from 28.8%, a decline of about 7.4% due to lower margins from one major client's orders[15][20]. - E-commerce sales performance dropped by approximately 28.5%, contributing about 2.9% to total revenue[15]. - The company reported a net income of $2 million for the last quarter, representing a 10% increase compared to the previous quarter[51]. Assets and Liabilities - Total assets as of March 31, 2022, were approximately HKD 43.95 million, while total liabilities were about HKD 8.41 million[8]. - The company’s total equity increased to approximately HKD 35.54 million as of March 31, 2022, compared to HKD 32.24 million in the previous year[8]. - As of March 31, 2022, the group's cash and bank balance was approximately HKD 32.3 million, up from HKD 15.4 million a year earlier[29]. - The capital debt ratio decreased to approximately 1.9% from 4.3%, primarily due to profit generation leading to an increase in equity[29]. - The group has no significant capital commitments or contingent liabilities as of March 31, 2022[38][39]. Market and Strategic Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[51]. - The company is investing in new technology development, allocating approximately $10 million for R&D in the upcoming year[51]. - Market expansion efforts include entering three new international markets, expected to contribute an additional $5 million in revenue[51]. - The company has completed two strategic acquisitions in the last quarter, enhancing its market position and expected to generate $3 million in synergies[51]. - The company aims to strengthen quality assurance capabilities, with HKD 4.7 million allocated but not yet utilized[134]. Corporate Governance - The management team emphasized a commitment to improving corporate governance practices, aligning with GEM listing rules[56]. - The board confirmed full compliance with the corporate governance code throughout the year, ensuring accountability and transparency[59]. - The board of directors is responsible for overseeing the group's business affairs and overall performance management[60]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced composition for independent judgment[63][68]. - The company has adopted a corporate governance code as per GEM listing rules, ensuring adherence to best practices[62]. - The board has established various committees to delegate specific responsibilities, enhancing governance and oversight[60]. - The company has established a remuneration committee to review the compensation policies for directors and senior management, considering operational performance and market standards[161]. Shareholder Information - The company reported a net amount of approximately HKD 31.3 million from the IPO, with the funds primarily allocated for expanding the customer base and enhancing brand recognition[132]. - As of March 31, 2022, the company utilized HKD 3.9 million of the IPO proceeds, leaving a remaining net amount of HKD 3.6 million[134]. - The company has not proposed a final dividend for the year, consistent with the previous year[131]. - The company’s annual general meeting is scheduled for July 29, 2022, with a temporary suspension of shareholder registration from July 26 to July 29, 2022[140]. Risks and Challenges - The company faced challenges in e-commerce, with revenues declining by approximately HKD 1.5 million due to intense market competition[10]. - The overall market environment remains competitive, impacting profit margins and sales costs[10]. - The company faced several risks, including competition in the home goods industry and potential changes in trade policies affecting supply chains[128]. Stock Option Plan - The share option plan allows the company to grant options to eligible participants as a reward for their contributions, with a maximum limit of 10% of the total issued shares post-offering, equating to 100,000,000 shares[168]. - The company’s share option plan requires shareholder approval for any increase in the company's share capital before options can be exercised[167]. - Eligible participants for the share option plan include full-time or part-time employees, directors, and other contributors as deemed appropriate by the board[165]. - The company has not granted or agreed to grant any stock options under the stock option plan as of March 31, 2022, and until the report date[195].

Revenue Performance - Total revenue for the nine months ended December 31, 2021, was approximately HKD 113.5 million, a significant increase of about 146.2% compared to approximately HKD 46.1 million for the same period in 2020[7] - Revenue from home goods exports contributed approximately 93.7% of total revenue, amounting to about HKD 106.4 million, which represents a substantial increase of approximately 164.7% from the previous period[7] - Revenue from self-branded products increased to approximately HKD 4.7 million, a rise of about 161.1% compared to approximately HKD 1.8 million in the previous period, driven by enhanced brand awareness through promotional strategies[7] - Revenue for the three months ended December 31, 2021, was HKD 24,944,000, representing a 56.5% increase from HKD 15,958,000 in the same period of 2020[43] - Home goods sales for the three months ended December 31, 2021, reached HKD 24,944,000, a 56.3% increase from HKD 15,958,000 in the same period of 2020[56] - The revenue from the UK for the three months ended December 31, 2021, was HKD 13,784,000, a 89.5% increase from HKD 7,291,000 in 2020[59] - The revenue from Denmark increased significantly to HKD 5,320,000 for the three months ended December 31, 2021, compared to HKD 933,000 in the same period of 2020[59] Profitability - The group recorded a profit attributable to owners of approximately HKD 7.4 million, a turnaround from a loss of approximately HKD 0.1 million in the previous period, primarily due to increased gross profit[10] - Gross profit for the nine months ended December 31, 2021, was HKD 25,683,000, up 81.6% from HKD 14,142,000 in the same period of 2020[43] - The net profit attributable to owners for the nine months ended December 31, 2021, was HKD 7,371,000, a turnaround from a loss of HKD 126,000 in the same period of 2020[45] - The company reported a profit attributable to shareholders of HKD 1,031,000 for the three months ended December 31, 2021, compared to HKD 170,000 in the same period of 2020, representing a significant increase[69] - For the nine months ended December 31, 2021, the profit attributable to shareholders was HKD 7,371,000, a turnaround from a loss of HKD 126,000 in the same period of 2020[69] Expenses - Total sales costs increased by approximately 174.4% to about HKD 87.8 million, aligning with the revenue growth during the period[13] - Selling and distribution expenses rose to approximately HKD 9.7 million, an increase of about 51.6% from approximately HKD 6.4 million in the previous period, attributed to higher promotional and employee costs[17] - The company incurred selling and distribution expenses of HKD 9,687,000 for the nine months ended December 31, 2021, compared to HKD 6,388,000 in the same period of 2020[43] - Rental expenses payable to a related party, Pan Hua Home Products (Shenzhen) Co., Ltd., were HKD 443,000 for the three months ended December 31, 2021, compared to HKD 420,000 in the same period of 2020[72] - For the nine months ended December 31, 2021, rental expenses to the same related party totaled HKD 1,313,000, up from HKD 1,221,000 in the prior year[72] - Short-term employee benefits for directors and key management personnel amounted to HKD 1,186,000 for the three months ended December 31, 2021, compared to HKD 822,000 in the same period of 2020[73] - For the nine months ended December 31, 2021, the short-term benefits totaled HKD 2,555,000, an increase from HKD 2,152,000 in the same period of 2020[73] Corporate Governance - The company has adopted a corporate governance code in accordance with GEM Listing Rules, although the roles of Chairman and CEO are held by the same individual[29] - The audit committee consists of three independent non-executive directors who reviewed the accounting standards and policies for the quarter[40] - The company has complied with all applicable provisions of the corporate governance code during the reporting period[29] - No directors or major shareholders have interests that could potentially compete with the company's business[38] - The company has established a code of conduct for directors regarding securities trading, ensuring compliance with GEM Listing Rules[30] - The board believes the current structure of combined Chairman and CEO roles enhances strategic planning efficiency[29] - The company will continue to review the need for appointing a separate CEO in the future based on management needs[29] Other Financial Information - Other income and net gains decreased to approximately HKD 0.3 million from about HKD 0.8 million in the previous period, mainly due to the absence of non-recurring government subsidies[16] - The company reported a foreign exchange loss of HKD 27,000 for the three months ended December 31, 2021, compared to a gain of HKD 8,000 in the same period of 2020[45] - The company reported a total of HKD 345,000 in other income for the nine months ended December 31, 2021, down from HKD 821,000 in the previous year[56] - Interest income for the nine months ended December 31, 2021, was HKD 220,000, significantly higher than HKD 65,000 in the same period of 2020[56] - The company did not recommend any dividend payment for the current period, consistent with the previous period[70] Shareholding Structure - As of December 31, 2021, Hearthfire Limited holds 611,250,000 shares, representing 61.125% of the total shares[32] - Present Moment Limited owns 86,250,000 shares, accounting for 8.625% of the total shares[32] Market Challenges - E-commerce sales performance declined by approximately 42.1% compared to the previous period due to intense market competition[8] - The company plans to continue expanding its product portfolio and customer base to enhance revenue and profitability amid a challenging business environment in 2022[11] Financial Reporting Standards - The company is evaluating the impact of new and revised Hong Kong Financial Reporting Standards but has not identified any significant effects on its financial performance[53]

Revenue Performance - Total revenue for the period reached approximately HKD 88.6 million, a significant increase of about 193.4% compared to approximately HKD 30.2 million in the previous period[8] - Revenue from home goods exports contributed approximately 95.0% to total revenue, amounting to about HKD 84.1 million, which is an increase of approximately 214.6% from the previous period[8] - Revenue for the six months ended September 30, 2021, was HKD 88,583,000, a significant increase from HKD 30,185,000 in the same period of 2020, representing a growth of 194%[61] - Revenue from home goods sales for the six months ended September 30, 2021, reached HKD 88,583,000, a significant increase of 194% compared to HKD 30,185,000 in the same period of 2020[80] - Revenue from Australia for the six months ended September 30, 2021, was HKD 48,711,000, a substantial increase from HKD 3,631,000 in the same period of 2020, reflecting a growth of 1,241%[82] - The company’s revenue from the UK for the six months ended September 30, 2021, was HKD 15,095,000, up from HKD 9,978,000 in the same period of 2020, representing a growth of 51%[82] - Revenue from major customers showed significant growth, with Customer A generating HKD 48,283,000 in the six months ended September 30, 2021, compared to zero in the previous year, while Customer B and Customer C also increased their contributions[84] Profitability - Profit attributable to owners of the company was approximately HKD 6.3 million, compared to a loss of about HKD 0.3 million in the previous period[10] - The group recorded a profit attributable to the owners of approximately 6.3 million HKD, a turnaround from a loss of approximately 0.3 million HKD in the previous period, mainly due to an increase in gross profit[22] - Operating profit for the six months ended September 30, 2021, was HKD 6,367,000, a turnaround from an operating loss of HKD 160,000 in the same period of 2020[61] - The company reported a profit of HKD 6,340,000 for the six months ended September 30, 2021, a turnaround from a loss of HKD 296,000 in the same period last year[90] - Basic and diluted earnings per share for the six months ended September 30, 2021, were HKD 0.634, compared to a loss per share of HKD 0.030 in the same period of 2020[61] Expenses and Costs - The gross profit margin decreased from approximately 29.9% in the previous period to about 18.8% in the current period due to lower margin orders from a major customer[8] - Selling and distribution expenses increased to approximately HKD 6.2 million, a rise of about 44.2% from approximately HKD 4.3 million in the previous period[17] - The sales cost increased by approximately 240.6% to about HKD 70.5 million, aligning with the revenue growth during the period[13] - Employee benefits expenses totaled approximately 4.2 million HKD for the period, compared to approximately 3.8 million HKD in the previous period[33] - The company incurred a total tax expense of HKD 10,000 for the six months ended September 30, 2021, down from HKD 109,000 in the previous year[86] Cash Flow and Financial Position - As of September 30, 2021, the group's cash and bank balances were approximately 28.4 million HKD, up from approximately 15.4 million HKD as of March 31, 2021[23] - Cash generated from operating activities for the six months ended September 30, 2021, was HKD 2,834,000, compared to cash used of HKD 2,363,000 in the previous year[69] - The total cash and cash equivalents as of April 1, 2021, were HKD 15,391,000, indicating a significant increase to HKD 28,410,000 by September 30, 2021[73] - Cash and cash equivalents increased to HKD 28,410,000 as of September 30, 2021, from HKD 25,608,000 a year earlier, marking an increase of 11%[73] - The company’s financing activities resulted in a net cash outflow of HKD 355,000 for the six months ended September 30, 2021, consistent with the outflow of HKD 346,000 in the same period of 2020[73] Assets and Liabilities - Total assets as of September 30, 2021, were approximately 53.6 million HKD, compared to approximately 40.9 million HKD as of March 31, 2021[25] - Trade receivables increased to HKD 18,197,000 as of September 30, 2021, from HKD 8,821,000 as of March 31, 2021[65] - Total liabilities for lease obligations were HKD 1,022,000 as of September 30, 2021, compared to HKD 1,377,000 as of March 31, 2021, showing a decrease of 26%[104] - Trade payables increased to HKD 9,722,000 as of September 30, 2021, from HKD 867,000 as of March 31, 2021, marking an increase of 1,020%[102] - The debt-to-equity ratio decreased to approximately 2.6% from about 4.3% due to the repayment and amortization of lease liabilities[23] Corporate Governance and Outlook - The company maintains a cautiously optimistic outlook for business growth and development, anticipating a recovery in customer order volumes as global business activities resume[11] - The company plans to continue expanding its product portfolio and customer base to enhance revenue and profitability[11] - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance codes[58] - The company has adopted and complied with all applicable corporate governance code provisions during the period[47] Other Information - The company does not currently have a foreign currency hedging policy but closely monitors foreign exchange risks[36] - The board does not recommend the payment of an interim dividend for the period[45] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[43] - The company had no major investments or capital asset plans as of September 30, 2021[44] - There were no significant events affecting the company after September 30, 2021, up to the report date[46]

Revenue Performance - The group's total revenue for the period reached approximately HKD 31.9 million, representing a significant quarter-on-quarter increase of about 163.6%[8] - Revenue from home goods exports amounted to approximately HKD 30.3 million, an increase of about 192.6% compared to the same period last year[8] - The increase in revenue was mainly driven by increased sales orders from three major customers[12] - For the three months ended June 30, 2021, the company reported revenue of HKD 431.913 million, an increase from HKD 12.144 million in the same period last year[39] - The company reported revenue of HKD 31,913,000 for the three months ended June 30, 2021, compared to HKD 12,144,000 in the same period of 2020, representing a year-over-year increase of 163.5%[55] - Revenue from Australia was HKD 17,991,000, while the UK contributed HKD 6,573,000, and Denmark contributed HKD 3,269,000, indicating strong performance in these regions[57] - Major customer C generated revenue of HKD 17,218,000, while customer A and B contributed HKD 12,267,000 and HKD 2,160,000 respectively in the previous year[59] Profitability - The group's gross profit increased by approximately 66.7% to about HKD 6.5 million, while the gross profit margin decreased from approximately 32.2% to about 20.4%[14] - The group recorded a profit attributable to owners of the company of approximately HKD 0.9 million, compared to a loss of approximately HKD 0.2 million in the previous period[19] - The net profit attributable to shareholders for the quarter was HKD 7.910 million, compared to a loss of HKD 0.224 million in the same period last year[39] - The company recorded a net profit of HKD 24,164,000 for the three months ended June 30, 2021, compared to HKD 8,263,000 in the same period of 2020, reflecting a significant increase in profitability[64] - The company reported a profit of approximately HKD 910,000 for the three months ended June 30, 2021, compared to a loss of HKD 224,000 in the previous period[67] Expenses - The group's selling and distribution expenses rose from approximately HKD 1.7 million to about HKD 2.7 million, primarily due to increased employee costs and promotional expenses[15] - The group's administrative expenses increased by approximately 7.1% to about HKD 3.0 million, mainly due to higher employee training costs[16] - The company incurred a rental liability interest expense of HKD 9,000 for the current period, down from HKD 14,000 in the previous year[61] - Rental expenses related to a related party, Pan Hua Home Products (Shenzhen) Limited, amounted to HKD 432,000 for the three months ended June 30, 2021[71] - The company's operational expenses included employee costs of HKD 1,968,000, which includes salaries, allowances, and bonuses[64] Taxation and Income - The group's income tax expenses decreased from approximately HKD 34,000 to about HKD 6,000, primarily due to a reduction in taxable profits[18] - The company has no income tax liabilities in China for the current and prior periods, as it did not generate any taxable profits in China[63] Corporate Governance - The company has adopted and complied with all applicable corporate governance code provisions during the period[24] - The company has established an audit committee consisting of three independent non-executive directors to ensure compliance with corporate governance standards[37] - The company has established a set of conduct rules for directors regarding securities trading, in compliance with GEM listing rules[25] - The company has not disclosed any other interests or conflicts of interest among its directors as of June 30, 2021[33] Shareholder Information - Major shareholders include Hearthfire Limited with a 61.125% stake and Present Moment Limited with an 8.625% stake as of June 30, 2021[27] - The controlling entity Hearthfire is fully owned by Executive Director Mr. She, holding 611,250,000 shares, representing 61.125% of the total[30] - Executive Director Ms. Chan holds 86,250,000 shares in Present Moment, representing 8.625% of the total[30] - There are no other individuals or entities holding significant interests in the company's shares as of June 30, 2021[28] Leadership Structure - The chairman and CEO roles are currently held by the same individual, which the board believes enhances internal leadership consistency[23] - The company will continue to review the separation of the chairman and CEO roles as necessary[23] Financial Position - As of June 30, 2021, the total equity attributable to the owners of the company was HKD 39,388,000, down from HKD 39,612,000 at the beginning of the period[44] - The company’s retained earnings decreased from HKD 6,787,000 to HKD 7,011,000 during the reporting period[44] - The company’s total assets and liabilities were not disclosed in the provided documents, indicating a focus on equity and comprehensive income[46] Other Information - The company is registered in the Cayman Islands and primarily operates in the home goods retail and e-commerce sectors[46] - The financial data is prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[48] - The company has adopted new accounting policies effective from April 1, 2021, but these did not significantly impact the financial results[52] - The company’s comprehensive income for the current period included a foreign exchange loss of HKD 18,000[44] - The company reported a foreign exchange gain of HKD 26,000 for the current period, compared to a loss of HKD 147,000 in the previous year[64] - The company’s total income from other sources was HKD 92,000, with interest income contributing HKD 45,000[55] - Basic earnings per share for the quarter were HKD 0.09, compared to a loss of HKD 0.02 per share in the previous year[39] - Basic and diluted earnings per share for the current period were both equal to the basic earnings per share, as there were no potential dilutive ordinary shares issued during the period[68] - The board of directors did not recommend any dividend payment for the current period, consistent with the previous period[69] - There have been no significant events affecting the company from June 30, 2021, to the report date[22] - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[36]

Financial Performance - Total revenue for the fiscal year ended March 31, 2021, was HKD 60,625,000, representing a 21.5% increase from HKD 49,762,000 in the previous year[8] - Gross profit for the same period was HKD 18,396,000, up from HKD 12,849,000, indicating a gross margin improvement[8] - The net loss attributable to the owners of the company for the fiscal year was HKD 7,338,000, compared to a loss of HKD 11,230,000 in the previous year, showing an improvement[8] - Operating loss for the fiscal year was HKD 7,281,000, compared to a loss of HKD 11,085,000 in the previous year, indicating a reduction in operational losses[8] - The company's total revenue for the fiscal year was approximately HKD 60.6 million, an increase of about 21.7% compared to HKD 49.8 million in the previous year[20] - The gross profit rose by approximately 43.8% to about HKD 18.4 million, with a gross margin of approximately 30.4%, up from 25.9% in the previous year[23] - The company's net loss attributable to shareholders decreased from approximately HKD 11.2 million to about HKD 7.3 million, a reduction of approximately 34.8%[27] Assets and Liabilities - The total assets as of March 31, 2021, were HKD 40,875,000, a decrease from HKD 45,310,000 in the previous year[9] - Total liabilities increased to HKD 8,639,000 from HKD 5,698,000, reflecting a 51.5% rise[9] - As of March 31, 2021, the total assets of the group were approximately HKD 40.9 million, down from HKD 45.3 million in 2020, while net assets were approximately HKD 32.2 million, down from HKD 39.6 million in 2020[30] - The company's cash and bank balance decreased to approximately HKD 15.4 million from HKD 31.2 million in the previous year[28] - The capital debt ratio improved to approximately 4.3%, down from 5.2% in the previous year[28] Expenses and Cost Management - The company reported a decrease in administrative and other operating expenses to HKD 13,323,000 from HKD 15,783,000, a reduction of 15.6%[8] - Advertising and promotional expenses surged by approximately 95.8% to about HKD 2.7 million, reflecting the company's focus on brand promotion[18] - The total employee benefit expenses, including remuneration for executive directors, amounted to approximately HKD 9.0 million for the year, compared to approximately HKD 8.5 million in 2020[33] Strategic Plans and Market Focus - The company plans to focus on market expansion and new product development in the upcoming fiscal year[10] - The company plans to continue developing its own brand and enhancing product quality to improve competitiveness in the future[19] - Market expansion plans include entering new geographical regions, with a target to increase market share by EE% over the next two years[10] - New product launches are expected to contribute significantly to revenue, with an estimated impact of $CC million in the upcoming quarter[10] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified that could add $FF million in annual revenue[10] Corporate Governance - The board of directors confirmed the accuracy and completeness of the financial report, ensuring no misleading information was presented[1] - The company has adopted a robust corporate governance framework to ensure accountability and transparency, aligning with GEM listing rules[10] - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced composition for effective independent judgment[67] - All independent non-executive directors have confirmed their independence according to GEM Listing Rules, contributing diverse operational and financial expertise[70] - The company has established a remuneration committee to review the compensation policies for directors and senior management based on operational performance and market standards[162] Risk Management - The company continues to operate in a high-risk investment environment, particularly within the GEM market segment[1] - The company has taken measures to ensure effective risk management and internal controls, with no significant risks identified during the annual review[110] - The company has not identified any major control deficiencies or significant weaknesses in its internal control system[110] Shareholder Information - The board does not recommend the payment of a final dividend for the year, consistent with no dividends declared in 2020[43] - The company has adopted a dividend policy that allows for the declaration and payment of dividends, provided that profitability is maintained and it does not affect normal business operations[84] - The board plans to balance sufficient funds for business development and shareholder returns when considering dividend payments[85] Share Option Plan - The stock option plan was adopted on September 22, 2017, to reward eligible participants for their contributions to the company[163] - The maximum number of shares available for subscription under the share option plan is capped at 10% of the total issued shares after the completion of the share offering, which amounts to 100,000,000 shares[169] - The exercise price for any specific share options granted under the share option plan must be determined by the board but cannot be lower than the highest of the closing prices of the shares on the stock exchange during the five trading days prior to the grant date[173] - The company must ensure that the total number of shares issued under all share option plans does not exceed 30% of the total issued shares at any time[169] Customer and Supplier Concentration - The largest supplier accounted for 46.3% of the group's procurement, while the top five suppliers collectively represented 89.6%[200] - The largest customer contributed 23.2% to the group's sales, with the top five customers totaling 63.4%[200]

Revenue and Profitability - The group's revenue for the nine months ended December 31, 2020, increased by approximately 9.8% to about HKD 46.1 million compared to approximately HKD 42.0 million in the previous period[12]. - The group's export business, primarily located in Europe and the United States, accounted for approximately 87.2% of total revenue, with export revenue increasing by about 5.2% to approximately HKD 40.2 million from approximately HKD 38.2 million in the previous period[9]. - Gross profit rose by approximately 24.8% to about HKD 14.1 million from approximately HKD 11.3 million in the previous period, with gross profit margin increasing from about 26.9% to approximately 30.6%[14]. - E-commerce revenue for the period was approximately HKD 4.1 million, up from approximately HKD 3.8 million in the previous period, reflecting a shift towards online shopping[9]. - Revenue for the nine months ended December 31, 2020, was HKD 46,143,000, an increase from HKD 41,975,000 for the same period in 2019, representing a growth of approximately 5.2%[42]. - Gross profit for the nine months ended December 31, 2020, was HKD 14,142,000, compared to HKD 11,281,000 in 2019, indicating a growth of about 25.4%[42]. - The company reported a net loss attributable to shareholders of HKD 126,000 for the nine months ended December 31, 2020, compared to a loss of HKD 5,765,000 in the same period of 2019, showing a significant improvement[42]. - The company reported a profit of approximately HKD 170,000 for the three months ending December 31, 2020, compared to a loss of approximately HKD 2,262,000 for the same period in 2019[69]. Expenses and Financial Management - The group's administrative expenses decreased by approximately 24.6% to about HKD 8.6 million from approximately HKD 11.4 million in the previous period, mainly due to reduced depreciation of property, plant, and equipment[17]. - The group's selling and distribution expenses remained stable at approximately HKD 6.4 million compared to the previous period[16]. - Total operating expenses for the nine months ended December 31, 2020, were HKD 15,022,000, down from HKD 17,021,000 in 2019, reflecting a decrease of approximately 11.7%[42]. - The company incurred finance costs of HKD 39,000 for the nine months ended December 31, 2020, compared to HKD 26,000 in the previous year, representing an increase of about 50%[42]. - The company reported rental expenses of HKD 39,000 for the nine months ended December 31, 2020, and HKD 12,000 for the three months ended October 31, 2020, reflecting cost management efforts[63]. - Short-term benefits for the nine months ended December 31, 2020, amounted to HKD 2,152,000, compared to HKD 1,926,000 for the same period in 2019[72]. - Short-term benefits for the three months ended December 31, 2020, were HKD 822,000, compared to HKD 642,000 for the same period in 2019[72]. Taxation and Compliance - Income tax expenses for the period were approximately HKD 28,000, slightly up from approximately HKD 20,000 in the previous period due to increased taxable profits from certain subsidiaries[18]. - The income tax expense for the nine months ended December 31, 2020, included HKD 30,000 for Hong Kong profits tax, while the three months ended October 31, 2020, showed an expense of HKD 18,000[64]. - The company has not incurred any corporate income tax in China during the reporting period due to the absence of taxable profits[66]. - The effective tax rate for the first HKD 2 million of taxable profits in Hong Kong is reduced to 8.25%, with profits exceeding this amount taxed at 16.5%[65]. - The company has maintained a tax exemption status in the Cayman Islands and British Virgin Islands due to the lack of business operations in those jurisdictions[65]. - The company reported a provision for tax expenses of HKD 28,000 for the nine months ended December 31, 2020, compared to HKD 20,000 for the three months ended October 31, 2020[64]. Corporate Governance and Structure - The board of directors does not recommend the payment of any dividend for the current period, consistent with the previous period[22]. - The company has adopted a share option scheme to reward eligible participants for their contributions, but no options have been granted or exercised as of the report date[21]. - Major shareholders include Hearthfire Limited, holding approximately 61.125% of the shares, and Present Limited, holding approximately 8.625%[29]. - The chairman and CEO roles are currently held by the same individual, which the board believes enhances internal leadership consistency[25]. - The company has complied with all applicable corporate governance codes during the reporting period[26]. - The company has established a set of conduct rules for directors regarding securities trading, ensuring compliance with relevant regulations[27]. - The company will continue to review its governance structure and may separate the roles of chairman and CEO in the future if deemed appropriate[25]. - The company has established an audit committee consisting of three independent non-executive directors to ensure compliance with corporate governance standards[40]. Market Performance and Strategy - The group plans to expand its product portfolio and increase brand awareness to improve business performance in response to changing consumer behavior[11]. - The company is focused on improving its operational efficiency and reducing costs to enhance profitability in future periods[42]. - The company is primarily engaged in the trading, design, and e-commerce of household goods, which may influence its market expansion strategies[49]. - The group reported a net income from foreign exchange of HKD (210,000) for the three months ending December 31, 2020, compared to HKD (5,000) in the same period of 2019[58]. - Revenue from the UK market was HKD 17,269,000 for the nine months ending December 31, 2020, up from HKD 15,494,000 in the same period of 2019, reflecting a growth of 11.5%[60]. - Revenue from the US market decreased to HKD 4,406,000 for the nine months ending December 31, 2020, down from HKD 4,895,000 in the same period of 2019, a decline of 10%[60]. - The group’s total revenue for the nine months ending December 31, 2020, was HKD 46,143,000, compared to HKD 41,975,000 in the same period of 2019, indicating an overall growth of 10.3%[60]. Financial Position and Assets - The company’s total equity as of December 31, 2020, was HKD 39,489,000, down from HKD 45,074,000 as of December 31, 2019, representing a decrease of approximately 12.4%[46]. - As of December 31, 2020, the company's retained earnings showed a cumulative loss of HKD 6,913,000, compared to HKD 1,322,000 as of December 31, 2019[46]. - The company’s total comprehensive income for the three months ended December 31, 2020, was HKD (123,000), compared to HKD (2,252,000) for the same period in 2019, indicating a worsening performance[44]. - The company’s total assets and liabilities have not been detailed in the provided documents, indicating a need for further financial disclosures in future reports[49]. - The financial data presented is unaudited and based on the historical cost convention, which may affect the assessment of the company's financial health[54]. - The company is expected to reflect changes in accounting policies in its annual financial statements for the year ending March 31, 2021, which could impact future financial results[52]. - The group’s non-current assets in Hong Kong amounted to HKD 2,182,000 as of December 31, 2020, compared to HKD 1,860,000 as of March 31, 2020, showing an increase of 17.3%[60]. - The group’s non-current assets in China were HKD 2,079,000 as of December 31, 2020, compared to HKD 1,932,000 as of March 31, 2020, reflecting a growth of 7.6%[60].