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].

Revenue and Business Performance - The group's main business, home goods export, accounted for approximately 88.6% of total revenue during the period[10] - Revenue from home goods export increased from approximately HKD 26.6 million in the previous period to HKD 26.7 million in the current period, representing an annual increase of about 0.4%[11] - E-commerce segment revenue increased by approximately 53.3% from about HKD 1.5 million to approximately HKD 2.3 million, accounting for about 7.6% of total revenue[13] - Total revenue for the period was approximately HKD 30.2 million, an increase of about 7.5% from approximately HKD 28.1 million in the previous period[17] - Revenue for the six months ended September 30, 2020, was HKD 30,185,000, an increase from HKD 28,141,000 in the same period last year, representing a growth of 7.3%[66] - Major customers contributing over 10% of total revenue included Customer A with HKD 4,618,000 (up from HKD 4,229,000), Customer B with HKD 6,516,000 (down from HKD 8,170,000), and Customer C with HKD 3,488,000 (down from HKD 4,424,000)[90] Profitability and Expenses - The gross profit margin for home goods export improved from approximately 27.8% in the previous period to about 29.9% in the current period, primarily due to higher margin product orders[11] - Gross profit increased by approximately 23.4% to about HKD 9.5 million, with a gross profit margin rising from approximately 27.4% to about 31.5%[19] - Selling and distribution expenses rose to approximately HKD 4.3 million, an increase of about 16.2% from approximately HKD 3.7 million[20] - Administrative and other operating expenses decreased by approximately 27.5% to about HKD 5.8 million, primarily due to reduced depreciation expenses[22] - The company reported a net loss attributable to shareholders of HKD 3,503,000, compared to a loss of HKD 296,000 in the prior year, indicating a significant increase in losses[66] - The company experienced an operating loss of HKD 3,480,000, compared to a loss of HKD 160,000 in the same period last year, indicating a worsening operational performance[66] Financial Position and Cash Flow - As of September 30, 2020, the group's cash and bank balances were approximately HKD 25.6 million, down from HKD 31.2 million as of March 31, 2020[25] - The company’s cash and cash equivalents decreased from HKD 31,220,000 to HKD 25,608,000, a reduction of about 18%[70] - The company reported a net cash flow from investing activities of HKD (2,898) thousand for the six months ended September 30, 2020[74] - The net cash used in operating activities was HKD 2,363,000, compared to HKD 371,000 in the previous year, highlighting increased operational costs[73] - The company’s total liabilities increased from HKD 4,321,000 to HKD 8,605,000, indicating a rise of about 99%[70] Share Capital and Ownership - The company has issued a total share capital of HKD 10,000,000, divided into 1,000,000,000 shares at HKD 0.01 each as of September 30, 2020[42] - Major shareholders include Hearthfire Limited with a 61.125% stake and Present Moment Limited with an 8.625% stake as of September 30, 2020[53] - The company is fully owned by Mr. She through the controlled entity Hearthfire, which holds 100% of its shares[59] - The company is fully owned by Ms. Chen through the controlled entity Present Moment, which also holds 100% of its shares[58] Corporate Governance and Compliance - The management is committed to ensuring the accuracy and completeness of the financial report, confirming no misleading or fraudulent elements[3] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and compliance[64] - The financial report was reviewed and approved by the audit committee prior to its release[64] - The company has complied with the GEM listing rules regarding corporate governance and financial reporting standards[64] Future Outlook and Strategic Initiatives - The group anticipates a gradual increase in demand for home goods exports as some countries relax restrictions and gradually restart their economies[11] - Future outlook includes potential market expansion and new product development strategies to improve financial performance[67] - The company is focusing on enhancing its technological capabilities and exploring acquisition opportunities to drive growth[68] Risk Management - The group faces currency risk as most transactions, assets, and liabilities are denominated in HKD, RMB, GBP, and USD, with sales and purchases primarily settled in USD[37] - The company has not established a foreign currency hedging policy but will monitor foreign exchange risks closely[37] Inventory and Receivables Management - Trade receivables increased significantly from HKD 7,082,000 to HKD 13,620,000, representing a growth of approximately 92%[70] - The company maintains strict monitoring of overdue balances, with directors regularly reviewing outstanding amounts[102] - The company requires new customers to make advance payments, ensuring a robust credit control system[102] - The aging analysis of trade receivables shows that HKD 5,727,000 (42.1%) was within 30 days, while HKD 4,060,000 (29.8%) was between 31 to 60 days[103] Other Financial Information - The company has not provided specific guidance for future performance, but the trends in cash flow and receivables suggest a focus on improving operational efficiency[73] - The company has not anticipated any changes to the planned use of proceeds as of the report date[35] - The company has not engaged in any purchases, sales, or redemptions of its listed securities during the reporting period[63]

Financial Performance - The company's revenue for the period was approximately HKD 12.1 million, a decrease of about 17.1% from approximately HKD 14.6 million in the previous period[11]. - The loss attributable to the company's owners decreased to approximately HKD 0.2 million, down about 88.9% from approximately HKD 1.8 million in the previous period[19]. - The gross profit increased by approximately 5.4% to about HKD 3.9 million, with a gross profit margin rising from approximately 25.3% to about 32.2%[14]. - Revenue for the three months ended June 30, 2020, was HKD 12,144,000, a decrease of 16.7% compared to HKD 14,570,000 in the same period of 2019[50]. - Gross profit for the same period was HKD 3,900,000, representing an increase of 5.4% from HKD 3,700,000 year-on-year[50]. - The company reported a loss attributable to owners of HKD 224,000, significantly improved from a loss of HKD 1,757,000 in the previous year, marking an 87.3% reduction in losses[40]. - Operating loss decreased to HKD 176,000 from HKD 1,748,000, indicating a substantial improvement in operational efficiency[40]. - The company’s total comprehensive loss for the period was HKD 224,000, down from HKD 1,765,000, representing a significant reduction of 87.7%[40]. - Basic and diluted loss per share improved to HKD 0.02 from HKD 0.18, showing a positive trend in per-share performance[40]. Revenue Breakdown - E-commerce revenue accounted for approximately 11.0% of total revenue for the period, representing a significant increase of about 87.1% compared to the previous period[8]. - The gross profit margin for the e-commerce segment rose from approximately 11.3% to about 31.7% due to higher sales prices[9]. - Revenue from the UK decreased by 37.83% to HKD 2,760,000 from HKD 4,441,000 year-on-year[53]. - Revenue from the US increased significantly to HKD 1,606,000, up 94.5% from HKD 824,000 in the previous year[53]. Cost Management - The sales cost decreased by approximately 24.8% to about HKD 8.2 million, aligning with the revenue decline[13]. - Administrative expenses were reduced by approximately 28.2% to about HKD 2.8 million, primarily due to decreased depreciation from the renovation of the exhibition hall in China[16]. - The cost of goods sold for home products was HKD 8,263,000, down 24.06% from HKD 10,890,000 in the previous year[61]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM Listing Rules[25]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting standards and policies adopted by the group during the reporting period[34]. - The company has complied with all applicable provisions of the corporate governance code during the reporting period, except for the separation of the roles of Chairman and CEO[24]. - The roles of Chairman and CEO are currently held by the same individual, which the board believes enhances internal leadership consistency and strategic planning efficiency[24]. - The company will continue to review the necessity of separating the roles of Chairman and CEO based on management needs and overall corporate circumstances[24]. - The company has confirmed that all directors have adhered to the trading standards and code of conduct for securities trading during the reporting period[25]. Shareholder Information - The company reported a significant shareholder concentration, with Hearthfire Limited holding 61.125% of shares and Present Moment Limited holding 8.625% as of June 30, 2020[27]. - As of June 30, 2020, the directors and senior management hold significant interests in the company, with 61.125% and 8.625% of shares held by the respective directors[28]. - There are no known direct or indirect competitive interests held by the directors or controlling shareholders that could conflict with the company's business[31]. Other Financial Information - The company incurred financing costs of HKD 14,000, compared to HKD 5,000 in the previous year, indicating a rise in financing expenses[40]. - Interest income decreased to HKD 45,000 from HKD 102,000, reflecting a decline of 55.9% year-on-year[50]. - The company reported a net foreign exchange gain of HKD 147,000, compared to a loss of HKD 99,000 in the previous year[61]. - Short-term benefits for directors and key management personnel amounted to HKD 665,000, an increase from HKD 642,000 in the previous year[66]. - The company does not recommend the payment of any dividends for the period, consistent with the previous period[21].

Financial Performance - The company's revenue decreased by approximately 15.4% from HKD 58.9 million in the previous year to HKD 49.8 million for the year ended March 31, 2020[11]. - The company recorded a loss attributable to shareholders of approximately HKD 11.2 million for the year[11]. - The home goods export business revenue decreased by about 14.6% compared to the previous year due to declining consumer confidence and intense market competition[12]. - E-commerce revenue decreased by approximately 23.5% compared to the previous year, primarily due to a decline in sales on Amazon in the United States[13]. - The company reported a gross profit of HKD 12.85 million for the year ended March 31, 2020, down from HKD 17.54 million in the previous year[8]. - Gross profit fell by approximately 26.9% to about HKD 12.8 million, with a gross margin decrease from approximately 29.8% in 2019 to about 25.8% in the current year[23]. - The company recorded a loss attributable to owners of approximately HKD 11.2 million, an increase of about 60.0% compared to HKD 7.0 million in 2019, primarily due to increased market competition[27]. - The cost of sales decreased by approximately 10.9% to about HKD 36.9 million from HKD 41.4 million in 2019, aligning with the revenue decline[22]. - Selling and distribution expenses were reduced to about HKD 8.9 million, a decrease of approximately 23.9% from HKD 11.7 million in 2019 due to cost-cutting measures[24]. Assets and Liabilities - The total assets of the company as of March 31, 2020, were HKD 45.31 million, a decrease from HKD 55.04 million in the previous year[9]. - The total liabilities increased to HKD 5.70 million in 2020 from HKD 4.18 million in 2019[9]. - The company's cash and bank balances were approximately HKD 31.2 million, slightly down from HKD 31.3 million in 2019[29]. - The capital debt ratio was approximately 5.2% as of March 31, 2020, after applying the new Hong Kong Financial Reporting Standards[29]. Business Strategy and Future Plans - The company plans to focus on core business and develop proprietary brand products to achieve sustainable growth[11]. - The company aims to expand sales channels in China in the coming year[13]. - The company plans to focus on high-quality home products and explore new business opportunities for sustainable growth amid a challenging market environment[19]. - The company decided to terminate the establishment of contact offices in Europe and the United States due to adverse global economic conditions[11]. Corporate Governance - The company adheres to the principles of good corporate governance to enhance shareholder value[57]. - The board of directors is responsible for overseeing the group's business affairs and overall performance management[61]. - The company has adopted the corporate governance code as per GEM listing rules and has complied with all applicable provisions throughout the year[59]. - The board has established several committees to delegate responsibilities and ensure effective governance[61]. - The company has a standard code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[60]. - The board consists of three independent non-executive directors, exceeding the GEM listing rules requirement of at least one-third[69]. - All independent non-executive directors confirmed their independence according to GEM listing rules, ensuring compliance[69]. - The board diversity policy was adopted on February 1, 2019, emphasizing the importance of diverse skills and experiences[78]. - The company believes that board diversity is key to maintaining competitive advantage and enhancing decision-making capabilities[78]. Risk Management - The group faces currency risk as most transactions, assets, and liabilities are denominated in HKD, RMB, GBP, and USD, with sales and procurement primarily settled in USD[34]. - The company has taken measures to ensure effective risk management and internal controls, with no significant risks identified during the annual review[108]. - The company has not established any foreign currency hedging policies but will closely monitor foreign exchange risks and consider hedging significant foreign currency risks when necessary[34]. - The company's risk management and internal control systems were deemed effective and sufficient by the board after an annual review[108]. Employment and Human Resources - As of March 31, 2020, the group employed a total of 31 full-time employees, down from 34 in 2019, with total employee benefits expenditure amounting to approximately HKD 8.5 million, a decrease from approximately HKD 9.3 million in 2019[33]. - The company plans to recruit additional staff, including two designers and two product engineers, as part of its ongoing development strategy[134]. Shareholder Information - The board does not recommend the payment of a final dividend for the year, consistent with the previous year[43]. - The company has adopted a dividend policy as of February 1, 2019, which outlines principles and guidelines for declaring dividends based on profitability and operational stability[83]. - The board plans to balance sufficient funds for business development and shareholder returns when considering dividend payments[84]. - The company does not have a predetermined dividend payout ratio, and past dividend distributions may not serve as a benchmark for future dividends[84]. Audit and Compliance - The audit committee has reviewed the consolidated financial statements for the year ending March 31, 2020, and found them compliant with applicable accounting standards and GEM listing rules[90]. - The independent auditor's report confirmed the company's responsibility for the consolidated financial statements for the year[107]. - The independent auditor, RSM Hong Kong, was paid HKD 700,000 for annual audit services in both 2020 and 2019[103]. Share Option Scheme - The share option plan allows the company to grant options to eligible participants as a reward for their contributions, with the plan approved by shareholders on September 22, 2017[159]. - The maximum number of shares available for subscription under the share option plan is capped at 10% of the total issued shares immediately following the completion of the share issuance, equating to 100,000,000 shares[165]. - The total number of shares that may be issued to any individual participant under the share option plan within any 12-month period is limited to 1% of the issued shares as of the grant date[167]. - The company must obtain independent non-executive directors' approval before granting stock options to directors, major executives, or major shareholders[169]. - Stock options granted must not exceed 0.1% of the issued shares or other percentages as stipulated by GEM listing rules, and the total value must not exceed HKD 5 million[171]. - The company cannot grant stock options during the one-month period prior to the announcement of financial results[173]. - The company has not granted or agreed to grant any options under the share option scheme as of March 31, 2020[191]. Operational Overview - The company operates primarily in the home goods sector, focusing on design, development, and production management in China and Hong Kong[124]. - The company has faced various risks, including competition in the home goods industry and potential changes in trade policies affecting supply chains due to the ongoing COVID-19 pandemic[125].

Financial Performance - The group's revenue for the period was approximately HKD 42.0 million, a decrease of about 11.2% from approximately HKD 47.3 million in the previous period[10]. - The gross profit decreased by approximately 23.1% to about HKD 11.3 million, with a gross margin decline from approximately 31.0% to about 26.9%[12]. - The net loss for the period increased to approximately HKD 5.8 million, compared to HKD 2.5 million in the previous period, primarily due to reduced sales orders from two major customers[17]. - Revenue for the nine months ended December 31, 2019, was HKD 41,975,000, a decrease of 11.7% compared to HKD 47,273,000 for the same period in 2018[37]. - Gross profit for the nine months ended December 31, 2019, was HKD 11,281,000, down 23.5% from HKD 14,656,000 in 2018[37]. - Operating loss for the nine months ended December 31, 2019, was HKD 5,719,000, compared to an operating loss of HKD 2,489,000 in the same period of 2018, representing a 129.5% increase in losses[37]. - Loss attributable to owners of the company for the nine months ended December 31, 2019, was HKD 5,765,000, compared to HKD 2,548,000 in 2018, indicating a 126.5% increase in losses[39]. - Total comprehensive loss for the nine months ended December 31, 2019, was HKD 5,781,000, compared to HKD 2,577,000 in 2018, reflecting a 124.5% increase in total comprehensive losses[39]. - Basic and diluted loss per share for the nine months ended December 31, 2019, was HKD 0.58, compared to HKD 0.25 for the same period in 2018[37]. Expenses and Cost Management - Sales and distribution expenses decreased by approximately 28.1% to about HKD 6.4 million, down from approximately HKD 8.9 million in the previous period[13]. - Administrative expenses increased by approximately 11.8% to about HKD 11.4 million, mainly due to additional depreciation of property, plant, and equipment[15]. - The company plans to implement cost and expenditure control measures to turn around its financial performance[8]. - Employee costs, including salaries and bonuses, decreased to HKD 5,932,000 for the nine months ended December 31, 2019, down 19.1% from HKD 7,345,000 in the same period of 2018[60]. - Depreciation expenses increased significantly to HKD 3,331,000 for the nine months ended December 31, 2019, compared to HKD 1,282,000 in the same period of 2018, representing a rise of 159.5%[60]. - Rental expenses to related parties amounted to HKD 1,149,000 for the nine months ended December 31, 2019, slightly down from HKD 1,254,000 in the same period of 2018[64]. Shareholder Information - As of December 31, 2019, Hearthfire Limited holds 611,250,000 shares, representing 61.125% of the company's total shares[26]. - Top Clay Limited and Ms. Shi hold 52,500,000 shares each, accounting for 5.25% of the total shares[26]. - Present Moment Limited holds 86,250,000 shares, which is 8.625% of the total shares[26]. - The company did not recommend the payment of any dividends for the period[20]. - The company did not recommend any dividend payment for the current period, consistent with the previous period[63]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, complying with GEM Listing Rules[24]. - The company has complied with all applicable provisions of the corporate governance code during the reporting period[23]. - There are no other individuals or entities with interests in the shares that require disclosure under the Securities and Futures Ordinance as of December 31, 2019[28]. - The roles of Chairman and CEO are currently held by the same individual, Mr. She, which the board believes enhances leadership consistency[23]. - The company has established an audit committee consisting of three independent non-executive directors to review accounting policies and quarterly reports[36]. Business Outlook and Strategy - New product lines, including aroma machines and small furniture, are set to be launched in the upcoming quarter[8]. - The company is optimistic yet cautious about the overall business outlook amid various uncertainties[9]. - The company operates primarily in the home goods trading, design, and e-commerce sectors[43]. Taxation and Financial Reporting - The tax expense for the period was approximately HKD 20,000, a decrease of about 50.0% from approximately HKD 40,000 in the previous period[16]. - The total income tax expense for the nine months ended December 31, 2019, was HKD 20,000, down from HKD 40,000 in the same period of 2018, reflecting a 50% decrease[54]. - The company has no taxable profits in China during the period, resulting in no corporate income tax being paid[58]. - The financial data is prepared in accordance with the GEM Listing Rules and Hong Kong Financial Reporting Standards[44]. - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would significantly impact the reported amounts in the unaudited condensed consolidated financial information[49]. Other Financial Information - Interest income increased to HKD 364,000 for the nine months ended December 31, 2019, compared to HKD 280,000 in the same period of 2018, representing a growth of 30%[49]. - The company reported a financing lease expense of HKD 26,000 for the nine months ended December 31, 2019, compared to HKD 19,000 in the same period of 2018, indicating a 36.8% increase[53]. - The company recorded a foreign exchange gain of HKD 5,000 for the nine months ended December 31, 2019, compared to a loss of HKD 1,146,000 in the same period of 2018[60]. - The company sold a vehicle to Mr. She for approximately HKD 48,000, based on market value[66]. - Non-current assets in Hong Kong as of December 31, 2019, were valued at HKD 533,000, a decrease from HKD 591,000 as of March 31, 2019[52]. - The company’s non-current assets in China were HKD 3,269,000 as of December 31, 2019, down from HKD 6,250,000 as of March 31, 2019, indicating a decline of 47.7%[52]. - The cost of home goods decreased to HKD 27,709,000 for the nine months ended December 31, 2019, down 7.4% from HKD 29,939,000 in the same period of 2018[60]. - The company recorded a short-term benefit expense of HKD 2,196,000 for the nine months ended December 31, 2019, an increase of 11.2% from HKD 1,975,000 in the same period of 2018[65]. - Revenue from major customers accounted for over 10% of total revenue, with Customer B contributing HKD 13,001,000 for the nine months ended December 31, 2019, up from HKD 9,188,000 in 2018, a growth of 41.5%[53].