Financial Performance - For the three months ended March 31, 2023, the group's revenue decreased by approximately 23.8% to about HKD 16.0 million from approximately HKD 21.0 million in the same period last year[5]. - The gross profit for the period was approximately HKD 3.6 million, down from approximately HKD 5.9 million in the previous year[5]. - The loss attributable to the owners of the company for the period was approximately HKD 1.0 million, compared to a loss of HKD 0.8 million in the same period last year[5]. - Operating loss for the period was approximately HKD 1.0 million, compared to an operating loss of HKD 0.8 million in the previous year[6]. - The company reported a total comprehensive loss attributable to owners of approximately HKD 0.976 million for the period, compared to HKD 0.797 million in the previous year[9]. - The company's gross profit for the same period decreased from approximately HKD 5,900,000 to about HKD 3,600,000[32]. - The loss attributable to the company's owners for the period was approximately HKD 983,000, compared to a loss of HKD 819,000 in the same period last year[26]. - The group reported a loss of approximately HKD 1.0 million for the period, compared to a loss of HKD 0.8 million in the same period last year[44]. Revenue and Expenses - Total expenses for the period amounted to HKD 17,300,000, down from HKD 22,247,000 in the previous year[22]. - The company reported a decrease in material and subcontracting costs from HKD 14,550,000 to HKD 11,911,000[22]. - General and administrative expenses decreased from HKD 7.0 million to HKD 4.8 million, attributed to a reduction in discretionary bonuses and employee benefits[42]. - Other income and gains increased to HKD 0.352 million from HKD 0.022 million in the previous year[6]. - Administrative expenses decreased to HKD 4.82 million from HKD 6.98 million in the previous year[6]. Dividend and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the period, consistent with the previous year[5]. - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2023[28]. - The group’s major shareholder, Mr. Liu Jingwei, holds 750,000,000 shares, representing 75% of the total issued shares[60]. Liquidity and Financial Position - The company’s cash and cash equivalents as of March 31, 2023, were approximately HKD 70.33 million[11]. - As of March 31, 2023, the group had cash and cash equivalents of approximately HKD 16.8 million, down from HKD 25.1 million as of December 31, 2022[48]. - The current ratio improved to approximately 12.7 times, up from 10.8 times, mainly due to a decrease in contract liabilities[48]. - The group maintained a stable liquidity position during the period, with no significant impact from exchange rate fluctuations as most operations are conducted in Hong Kong dollars[50]. Operational Insights - The company operates primarily in Hong Kong, with no other operating segments reported[19]. - The group remains optimistic about the future of the interior design and renovation market, particularly in commercial spaces, healthcare centers, and elderly care facilities[35]. - The group has no significant contingent liabilities as of March 31, 2023, apart from those disclosed in the unaudited consolidated financial statements[55]. - The group employed 12 staff members as of March 31, 2023, with regular reviews of compensation to attract and retain high-performing employees[53]. Compliance and Governance - The group has adopted the corporate governance code as per GEM listing rules and has complied with most provisions, except for the separation of the roles of Chairman and CEO[65]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[72]. Risk Management - The group has conducted ongoing credit assessments to minimize credit risk exposure[50]. - The group has not entered into any derivative agreements or used financial instruments to hedge foreign exchange risks during the period[50]. - There are no known competitive businesses directly or indirectly competing with the group’s operations as of March 31, 2023[63]. Share Incentive Plan - The company purchased a total of 6,460,000 shares under the share incentive plan at a total cost of approximately HKD 0.9 million after transaction costs[70]. - No share incentives were granted during the reporting period under the share incentive plan[70].

Financial Performance - The group's revenue decreased by approximately 3.6% to about HKD 42.5 million from approximately HKD 44.1 million in the previous year[7]. - Gross profit increased by approximately 30.9% from about HKD 9.1 million to approximately HKD 12.0 million[7]. - The company recorded a loss attributable to owners of approximately HKD 3.4 million, compared to a loss of HKD 5.2 million in the previous year[8]. - The group's revenue for the year ended December 31, 2022, decreased by approximately 3.6% to about HKD 42.5 million from approximately HKD 44.1 million in the previous year[38]. - The group's gross profit increased by approximately 30.9%, rising from about HKD 9.1 million in the previous year to approximately HKD 12.0 million in the current year[38]. - The loss attributable to the owners of the company for the year was approximately HKD 3.4 million, compared to a loss of HKD 5.2 million in the previous year[39]. - The company reported a 30% increase in customer satisfaction ratings, attributed to improved service delivery and project management practices[21]. Market Outlook and Strategy - The board believes that the COVID-19 pandemic will eventually subside, but the company will continue to assess its impact on operations and financial performance[9]. - The company anticipates an increase in healthcare centers, medical clinics, and elderly care homes due to the aging population in Hong Kong[9]. - The company plans to focus on the healthcare sector to secure design and renovation projects[9]. - The company aims to enhance long-term shareholder returns by investing more resources in the interior design and renovation business for commercial spaces and medical centers[9]. - The management remains optimistic about the future of the interior design and renovation market, particularly in commercial spaces and healthcare facilities[41]. - The company plans to strengthen its market position and continue business expansion by undertaking more large-scale projects[41]. Operational Efficiency and Development - K W Nelson is actively investing in new product development, with a budget allocation of HKD 5 million for innovative interior design solutions and technologies[21]. - The company has implemented new strategies to improve operational efficiency, resulting in a 12% reduction in project turnaround time[21]. - The group completed and was awarded several projects in elderly care homes, office properties, and medical centers during the year[40]. - The group has implemented preventive measures to maintain a hygienic working environment, including regular disinfection of workspaces and requiring staff and subcontractors to wear masks[40]. Client and Revenue Concentration - The revenue from the group's five largest clients accounts for over 50% of total revenue, indicating a significant reliance on these clients[79]. - The largest client contributed 62.3% to the sales revenue, while the total revenue from the top five clients reached 90.1%[97]. - The group does not have long-term contracts with its clients, which poses a risk to business operations and financial performance if clients choose not to engage the group in the future[79]. - The group relies on subcontractors for executing interior renovation projects, and the absence of long-term contracts with these subcontractors may lead to operational delays and financial impacts[79]. Sustainability and Corporate Governance - The group has implemented green office measures to promote sustainability, including resource efficiency and waste reduction initiatives[81]. - The company has adopted corporate governance practices in line with GEM listing rules, with a commitment to continuous improvement[139]. - The company has established a procedure for directors to seek independent professional advice at the company's expense[160]. - The company has implemented appropriate insurance arrangements for legal actions against directors[152]. Shareholder Communication and Engagement - The board emphasizes the importance of good communication with shareholders and has adopted a shareholder communication policy to facilitate timely access to information[185]. - The company encourages two-way communication with institutional and private investors, providing a platform for direct communication during the annual general meeting[185]. - Shareholders can request a special general meeting if they hold at least 10% of the issued share capital, and the board must convene the meeting within two months of receiving the request[191]. Risk Management and Internal Control - The board is responsible for ensuring effective risk management and internal control systems, which are designed to manage risks rather than eliminate them[179]. - The internal control policy covers various operational aspects, including risk assessment, financial reporting, cost management, and IT system monitoring, and is reviewed at least annually[180]. - The risk management team conducts quarterly risk identification and analysis, assessing the consequences and likelihood of risks, and develops management plans to mitigate them[181]. - The board concluded that the risk management and internal control systems were effective and adequate as of December 31, 2022[181]. Share Capital and Dividends - The company has adopted a dividend policy prioritizing cash dividends, subject to various financial and legal considerations[130]. - The board did not recommend a final dividend for the year ended December 31, 2022, compared to a dividend of HKD 0.003 per share in 2021[73]. - The total number of issued shares as of December 31, 2022, is 1,000,000,000[123].

K W NELSON INTERIOR DESIGN AND CONTRACTING GROUP LIMITED （於開曼群島註冊成立之有限公司） （股份代號：8411） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM之 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 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 普 遍 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公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 ...

Financial Performance - For the six months ended June 30, 2022, the group's revenue increased by approximately 12.8% to about HKD 35.5 million, compared to HKD 31.4 million for the same period last year[5]. - The gross profit for the period decreased to approximately HKD 7.1 million, down from HKD 8.3 million in the previous year[5]. - The loss attributable to owners of the company was approximately HKD 2.2 million, compared to a profit of HKD 1.3 million in the same period last year[5]. - The company reported a comprehensive loss attributable to owners of approximately HKD 2.3 million for the period, compared to a comprehensive income of HKD 1.3 million in the previous year[13]. - The company reported a net loss of HKD 2,235,000 for the six months ended June 30, 2022, compared to a profit of HKD 15,621,000 for the same period in 2021[118]. - Total comprehensive income for the period was HKD (2,336,000), which includes a foreign exchange loss of HKD (141,000)[118]. - The basic loss per share for the six months ended June 30, 2022, was HKD (0.23), compared to HKD 0.13 for the same period in 2021[140]. Dividends and Equity - The board declared an interim dividend of HKD 0.05 per share, compared to no dividend in the same period last year[5]. - The company’s total equity as of June 30, 2022, was HKD 121,393,000, down from HKD 129,520,000 as of June 30, 2021[118]. - The group declared an interim dividend of HKD 0.05 per share for the current period, compared to no dividend in the same period last year[181]. - The total equity attributable to owners of the company was approximately HKD 121.4 million as of June 30, 2022, down from HKD 129.5 million as of December 31, 2021[184]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to HKD 128.2 million, a decrease from HKD 150.3 million as of December 31, 2021[17]. - Current assets decreased to HKD 123.1 million from HKD 145.5 million, primarily due to a reduction in trade and other receivables[17]. - The company's cash and cash equivalents were HKD 67.5 million, down from HKD 80.7 million at the end of the previous year[17]. - Non-current assets increased slightly to HKD 5.1 million from HKD 4.8 million, driven by an increase in right-of-use assets[17]. - The total liabilities decreased to HKD 6.8 million from HKD 20.8 million, reflecting a reduction in current liabilities[17]. - The group’s net current assets were approximately HKD 117.0 million as of June 30, 2022, compared to HKD 125.0 million as of December 31, 2021[184]. - The current ratio as of June 30, 2022, was approximately 20.0 times, significantly up from 7.1 times as of December 31, 2021[184]. Cash Flow - Cash flow from operating activities was negative at HKD (6,510,000) for the six months ended June 30, 2022, compared to positive cash flow of HKD 15,621,000 in the previous year[121]. - The company incurred financing cash outflows of HKD (6,163,000) during the reporting period, significantly higher than HKD (853,000) in the prior year[121]. - Cash and cash equivalents decreased by HKD (13,037,000) during the six months ended June 30, 2022, compared to an increase of HKD 14,794,000 in the same period of 2021[121]. - The company paid dividends amounting to HKD (3,000,000) during the reporting period[121]. - The company purchased shares under the share award scheme for HKD (2,791,000), compared to HKD (481,000) in the previous year[121]. Revenue Sources - For the six months ended June 30, 2022, external customer revenue from Hong Kong was HKD 35,461,000, an increase of 13.9% compared to HKD 31,278,000 for the same period in 2021[130]. - The revenue from design and renovation projects rose from approximately HKD 27.0 million to about HKD 34.2 million, driven mainly by increased revenue from elderly care homes and medical center projects[173]. Expenses - Total sales and administrative expenses for the six months ended June 30, 2022, were HKD 38,674,000, an increase of 31.6% from HKD 29,389,000 for the same period in 2021[133]. - Employee benefit costs, including directors' remuneration, totaled HKD 7,366,000 for the six months ended June 30, 2022, compared to HKD 3,671,000 for the same period in 2021, reflecting a significant increase of 100.5%[133]. - General and administrative expenses increased to approximately HKD 10.0 million from about HKD 6.2 million in the previous year, primarily due to an increase in discretionary bonuses for employees and directors[178]. - The group incurred material and subcontracting costs of HKD 27,281,000 for the six months ended June 30, 2022, compared to HKD 21,137,000 for the same period in 2021, representing a 29% increase[133]. Trade Receivables and Payables - Trade receivables as of June 30, 2022, were HKD 10,495,000, down from HKD 15,026,000 as of December 31, 2021, representing a decrease of 30.5%[146]. - After deducting the provision for losses, trade receivables amounted to HKD 8,241,000, compared to HKD 12,220,000 in the previous year, a decline of 32.5%[146]. - Trade payables increased to HKD 5,324,000 as of June 30, 2022, from HKD 3,141,000 as of December 31, 2021, an increase of 69.7%[149]. - Other payables and accrued expenses decreased to HKD 377,000 from HKD 3,962,000, a significant drop of 90.5%[149]. Market Outlook and Strategy - The group remains optimistic about the interior design and renovation market, particularly in commercial spaces and medical centers, due to increasing public awareness of health issues and an aging population in Hong Kong[171]. - The group plans to continue investing resources to undertake larger projects and explore new business opportunities to maximize long-term returns for shareholders[171]. - The group will closely monitor the potential impact of the ongoing COVID-19 pandemic on its business and operations[170]. Miscellaneous - The group received government subsidies amounting to HKD 192,000 during the six months ended June 30, 2022, aimed at retaining employees[132]. - The group has not applied any new accounting standards or interpretations that have not yet come into effect during the current accounting period[128]. - The group has no significant contingent liabilities as of June 30, 2022, consistent with the previous year[159]. - The group has no significant capital commitments as of June 30, 2022[188]. - The group has not entered into any derivative agreements or used financial instruments to hedge foreign exchange risks during the period[187]. - Liu Jingwei holds a 75% equity interest in Sino Emperor Group Limited, amounting to 750,000,000 shares[198]. - The total issued shares of the company as of June 30, 2022, is 1,000,000,000[199].

Financial Performance - For the three months ended March 31, 2022, the group's revenue increased by approximately 29.8% to about HKD 21.0 million from approximately HKD 16.1 million in the same period last year, driven mainly by increased revenue from design and renovation projects for elderly care homes, office properties, and medical centers [5]. - The gross profit for the period rose to approximately HKD 5.9 million, up from about HKD 2.7 million in the same period last year [5]. - The loss attributable to the owners of the company for the period was approximately HKD 0.8 million, compared to a profit of HKD 0.5 million in the same period last year [5]. - The total comprehensive loss for the period was HKD 797,000, compared to a total comprehensive income of HKD 479,000 in the same period last year [10]. - The basic and diluted loss per share for the period was HKD (0.08), compared to earnings per share of HKD 0.05 in the same period last year [8]. Revenue and Expenses - Total operating expenses for the three months ended March 31, 2022, amounted to HKD 22,247,000, up from HKD 15,808,000 in the previous year [23]. - Material and subcontracting costs increased to HKD 14,550,000 from HKD 12,234,000 year-on-year [23]. - Employee benefit costs, including director remuneration, surged to HKD 5,682,000 from HKD 2,088,000 [23]. - Administrative expenses increased significantly to HKD 7.2 million from HKD 2.3 million in the same period last year, reflecting higher operational costs [8]. - Other income and gains for the period were HKD 22,000, slightly down from HKD 28,000 in the previous year [8]. Dividends and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the period, consistent with the previous year [5]. - The major shareholder, Sino Emperor, holds 750,000,000 shares, representing 75% of the company [59]. Assets and Liabilities - As of March 31, 2022, the group's current assets net value was approximately HKD 122.5 million, including cash and cash equivalents of about HKD 75.0 million [48]. - The current ratio improved to approximately 10.7 times, up from 7.1 times as of December 31, 2021, due to a decrease in trade and other payables [48]. - The group confirmed a trade receivables loss provision of HKD 2.3 million as of March 31, 2022, down from HKD 2.8 million as of December 31, 2021 [47]. - The group has no outstanding borrowings as of March 31, 2022, due to no significant debt financing needs during the period [48]. - The group reported no significant contingent liabilities as of March 31, 2022 [54]. Corporate Governance - The chairman and CEO roles are held by the same individual, Liu Jingwei, which the board believes benefits the group's business outlook and operational efficiency [64]. - The company has adopted the corporate governance code as per GEM listing rules and has complied with most provisions, except for the separation of the chairman and CEO roles [62][64]. - The board will continue to review the effectiveness of the corporate governance structure to assess the need for separating the roles of chairman and CEO [64]. - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM Listing Rules, with no known violations during the three months ending March 31, 2022 [65]. Market Outlook and Operations - The group remains optimistic about the future of the interior design and renovation market, particularly in commercial spaces and healthcare centers [35]. - The company operates primarily in the interior design and contracting sector, focusing on commercial spaces in Hong Kong [32]. - The group operates primarily in Hong Kong, with no significant impact from exchange rate fluctuations during the period [50]. Employee and Incentive Plans - The group maintained a total of 15 employees as of March 31, 2022, with regular reviews of compensation to attract and retain talent [53]. - A share incentive plan was adopted on May 17, 2021, aimed at retaining participants and encouraging contributions to the group's growth and development [66]. - During the reporting period, the trustee purchased a total of 9,490,000 shares under the share incentive plan, at a total cost of approximately HKD 1.9 million after transaction costs [67]. Audit and Compliance - The audit committee, established on November 18, 2016, reviewed the unaudited condensed consolidated financial statements for the three months ending March 31, 2022, confirming compliance with applicable accounting standards and GEM Listing Rules [70]. - The company has not adopted any new or revised accounting standards that would have a significant impact on its financial performance and position [19]. - There were no significant unrecognized deferred tax assets and liabilities as of March 31, 2022 [26]. - As of March 31, 2022, the group had no significant capital commitments [52]. - There were no major investments, acquisitions, or disposals of subsidiaries during the period, nor any future plans for significant capital asset acquisitions as of March 31, 2022 [53].

Financial Performance - The group's revenue decreased by approximately 46.5% to about HKD 44.1 million from approximately HKD 82.4 million in the previous year[9]. - Gross profit fell by about 74.4%, from approximately HKD 35.6 million to about HKD 9.1 million[9]. - The company recorded a loss attributable to owners of approximately HKD 5.2 million, compared to a profit of HKD 16.7 million in the previous year[10]. - Revenue from office and elderly care projects accounted for 95.8% of total revenue, amounting to HKD 42.3 million, compared to HKD 28.8 million (34.9%) in the previous year[43]. - The gross profit margin for office and elderly care projects dropped from approximately 43.9% in the previous year to 20.9% in the current year[51]. - The overall gross profit margin decreased from about 43.3% to approximately 20.7%, primarily due to reduced margins in elderly care design and renovation projects[53]. - Administrative expenses remained relatively stable at approximately HKD 15.0 million this year compared to HKD 14.2 million last year[54]. - The company has a total distributable reserve of approximately HKD 34.0 million as of December 31, 2021, compared to HKD 34.3 million in 2020[96]. - The company relies on five major clients for over 50% of its total revenue, indicating a significant risk if relationships with these clients deteriorate[80]. - The company does not have long-term contracts with its clients, which poses a risk to its business operations and financial performance if clients choose not to engage the company in the future[80]. - The company’s financial performance may be adversely affected if it fails to retain key management personnel or hire suitable staff[80]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.003 per share, unchanged from the previous year[11]. - The board proposed a final dividend of HKD 0.003 per share for the year ended December 31, 2021, amounting to HKD 3.0 million, consistent with the previous year[76]. - The company aims to enhance long-term shareholder returns by focusing on its core business[13]. - The company will continue to invest more resources to undertake larger projects and explore new business opportunities to maximize long-term returns for shareholders[41]. Market Focus and Strategy - The company plans to focus on the healthcare sector to capture design and renovation projects due to the aging population in Hong Kong[13]. - The company remains optimistic about the future of the interior design and renovation market and will continue to invest resources in commercial and healthcare center projects[13]. - The company plans to strengthen its market responsiveness and continue expanding its business in the interior design and renovation sector[41]. - The company aims to benefit from the increasing demand for healthcare-related facilities due to heightened public awareness of health issues and an aging population in Hong Kong[41]. - The company has a strategic focus on expanding its market presence through innovative design solutions and project management services[20]. COVID-19 Impact and Risk Management - The ongoing impact of the COVID-19 pandemic has caused cash flow issues for some project owners, leading to delays in project progress[13]. - The company will closely monitor risks and uncertainties related to COVID-19 and take appropriate measures to mitigate risks as necessary[13]. - The company is committed to evaluating the ongoing effects of the pandemic on its operations and financial performance[13]. - The company has implemented preventive measures to maintain a hygienic work environment amid the ongoing COVID-19 pandemic[39]. - The group recognized a trade receivables loss provision of HKD 2.8 million as of December 31, 2021, down from HKD 3.9 million in 2020, with HKD 0.4 million related to customers with known financial difficulties[58]. Governance and Board Structure - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a diverse governance structure[145]. - The independent non-executive directors confirmed their independence in accordance with GEM listing rules[109]. - The board has a clear division of responsibilities between the chairman and the CEO, enhancing operational efficiency[143]. - The company has implemented a board diversity policy, considering various factors such as gender, age, and professional experience[150]. - The audit committee, established in November 2016, consists of three members and is responsible for overseeing financial reporting and risk management[160]. - The board meets regularly, with all members receiving at least 14 days' notice for meetings, ensuring informed decision-making[159]. - The company provides ongoing professional development for all directors to enhance their knowledge of governance and compliance[157]. - The board retains decision-making authority on major matters, including financial policies and significant transactions[147]. - The company has arranged appropriate insurance for directors against legal actions related to their responsibilities[149]. Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2021[188]. - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with disclosure requirements[188]. - The audit procedures included evaluating and verifying management's estimates of expected credit losses[200]. - The audit involved obtaining confirmations from major clients to verify recognized revenue for the year[197]. - The company has implemented internal controls to manage the revenue recognition process for its services[197]. - The audit procedures confirmed that the judgments and estimates used by management in the revenue recognition process were supported by available evidence[197]. - The company assesses the inherent risk of material misstatement in revenue recognition due to the complexity of contracts and management's estimates[196]. Shareholder Communication - The company has established a shareholder communication policy to facilitate timely access to comprehensive information for shareholders and potential investors[178]. - A shareholder annual general meeting was held during the year ending December 31, 2021, enhancing communication with existing and potential investors[179]. - The company encourages two-way communication with institutional and private investors, welcoming suggestions and inquiries[179].

Financial Performance - For the nine months ended September 30, 2021, the group's revenue decreased by approximately 56.6% to about HKD 32.3 million from approximately HKD 74.5 million in the same period last year[5]. - The gross profit for the same period fell by about 72.6%, down to approximately HKD 8.4 million from about HKD 30.7 million in the previous year[5]. - The group recorded a loss attributable to ordinary equity shareholders of approximately HKD 3.6 million, compared to a profit of HKD 15.9 million in the same period last year[5]. - The operating loss for the nine months was approximately HKD 3.6 million, compared to an operating profit of HKD 19.4 million in the same period last year[7]. - The total comprehensive loss for the period amounted to approximately HKD 3.6 million, compared to a total comprehensive income of HKD 15.6 million in the previous year[9]. - The company reported a basic and diluted loss per share of HKD 0.49 for the nine months ended September 30, 2021[7]. - For the nine months ended September 30, 2021, total revenue was HKD 32,326,000, a decrease of 56.6% compared to HKD 74,491,000 for the same period in 2020[21]. - Revenue from Hong Kong for the nine months was HKD 32,012,000, down 57.0% from HKD 74,491,000 in the previous year[21]. - The company reported a pre-tax loss of HKD 310,000 for the three months ended September 30, 2021, compared to a profit of HKD 2,000 for the same period in 2020[30]. - Employee costs for the nine months increased to HKD 7,945,000, up 83.5% from HKD 4,334,000 in the previous year[25]. - Interest income for the nine months was HKD 90,000, a decrease of 79.5% from HKD 435,000 in the same period last year[23]. - Direct costs for the nine months were HKD 23,924,000, down 45.5% from HKD 43,828,000 in the previous year[29]. - The company received government grants totaling HKD 528,000 in the previous year, with no grants reported for the current period[23]. - Depreciation for owned properties, plants, and equipment for the nine months was HKD 305,000, down 63.0% from HKD 824,000 in the previous year[29]. Company Strategy and Market Focus - The company is focusing on restructuring and exploring new market opportunities to recover from the current financial downturn[5]. - The company plans to strengthen its market responsiveness and continue its business expansion plans in the interior design and renovation sector[46]. - The company aims to leverage its industry experience to explore new business opportunities and undertake more large-scale projects[46]. - The company believes there will be an increase in the construction of health centers and medical facilities due to growing public awareness of health issues and an aging population in Hong Kong[46]. Assets and Liabilities - The total assets of the company as of September 30, 2021, were approximately HKD 142.0 million, reflecting a decrease from the previous year[11]. - As of September 30, 2021, the group's net current assets were approximately HKD 128.3 million, including cash and cash equivalents of about HKD 117.5 million[60]. - The current ratio was approximately 8.5 times as of September 30, 2021, down from 10.1 times at the end of the previous year[60]. - The group confirmed a trade receivables loss provision of HKD 4.6 million as of September 30, 2021, compared to HKD 3.9 million on December 31, 2020[59]. - The total equity attributable to the owners of the company was approximately HKD 133.7 million as of September 30, 2021, down from HKD 142.0 million at the end of the previous year[60]. - The group had no outstanding borrowings as of September 30, 2021, due to no significant debt financing needs during the period[60]. Corporate Governance - The company has adopted a share incentive plan on May 17, 2021, aimed at retaining participants and encouraging contributions to the group's growth[78]. - During the reporting period, the trustee purchased a total of 10,040,000 shares under the share incentive plan, at a total cost of approximately HKD 1.7 million[79]. - The company has complied with the corporate governance code, except for a deviation regarding the separation of the roles of Chairman and CEO[81]. - The board of directors has adhered to the trading compliance code during the nine months ending September 30, 2021, with no known non-compliance issues[83]. - The audit committee was established on November 18, 2016, in accordance with GEM listing rules, and is responsible for overseeing financial reporting and risk management[84]. - The unaudited consolidated financial statements for the nine months ending September 30, 2021, were prepared in accordance with applicable accounting standards and GEM listing rules[85]. Market Conditions - The company experienced a significant decline in revenue primarily driven by reduced income from renovation projects in medical centers, corridors, retail shops, and warehouses[5]. - The overall gross margin dropped from approximately 41.2% in the previous year to about 26.0% in the current period, primarily due to a reduction in gross margin for elderly care home projects and the absence of higher-margin medical center renovation projects[52]. - There were no significant unrecognized deferred tax assets and liabilities as of September 30, 2021[33]. - There were no significant investments, acquisitions, or disposals of subsidiaries during the period, nor any major future capital expenditure plans[65].

Financial Performance - For the six months ended June 30, 2021, the group's revenue decreased by approximately 37.7% to about HKD 31.4 million, compared to HKD 50.5 million for the same period last year[5]. - The gross profit for the period fell to approximately HKD 8.3 million, down from HKD 26.4 million in the previous year[5]. - The profit attributable to ordinary equity shareholders was approximately HKD 1.3 million, a decrease from HKD 15.9 million in the same period last year[5]. - The operating profit for the six months ended June 30, 2021, was HKD 1.6 million, down from HKD 19.4 million in the previous year[7]. - The total comprehensive income for the period was HKD 1.3 million, compared to HKD 15.5 million for the same period last year[10]. - The company reported a pre-tax profit of 769,000 HKD, a decrease from 8,513,000 HKD in the same period of 2020[39]. - The group's profit for the period fell from approximately HKD 15.9 million to about HKD 1.3 million, reflecting a significant decline of approximately 91.8%[73]. Dividend and Shareholder Returns - The board of directors did not recommend the payment of an interim dividend for the period, compared to no dividend in the same period last year[5]. - The company paid no dividends during the current period, compared to HKD 2,500,000 paid in the previous year, reflecting a strategy to conserve cash[18]. - The company did not declare an interim dividend for the six months ended June 30, 2021, consistent with the same period in 2020[41]. Assets and Liabilities - Current assets as of June 30, 2021, amounted to HKD 155.9 million, slightly up from HKD 155.5 million at the end of 2020[13]. - The total assets less current liabilities stood at HKD 143.3 million, compared to HKD 142.2 million at the end of 2020[13]. - The net asset value as of June 30, 2021, was HKD 142.9 million, an increase from HKD 142.0 million at the end of 2020[13]. - The company reported cash and cash equivalents of HKD 128.5 million, up from HKD 113.7 million at the end of 2020[13]. - Trade receivables as of June 30, 2021, were 21,747,000 HKD, down from 38,581,000 HKD as of December 31, 2020, indicating a decrease of approximately 43.6%[45]. - Trade payables increased to HKD 7.5 million as of June 30, 2021, compared to HKD 5.3 million as of December 31, 2020, reflecting a 41.5% increase[48]. - The company recorded a loss allowance for trade receivables of 4,424,000 HKD as of June 30, 2021, compared to 3,880,000 HKD as of December 31, 2020[45]. - The company has no significant contingent liabilities as of June 30, 2021[55]. Cash Flow and Operational Efficiency - The company reported a net cash inflow from operating activities of HKD 15,621,000 for the six months ended June 30, 2021, compared to HKD 12,630,000 for the same period in 2020, representing a year-over-year increase of approximately 23.6%[18]. - The net cash generated from operating activities after tax payments was HKD 15,621,000, significantly up from HKD 6,068,000 in the previous year, indicating improved operational efficiency[18]. - The company’s cash flow from financing activities showed a net outflow of HKD 853,000, a decrease from HKD 2,869,000 in the previous year, indicating reduced financing costs[18]. Market Focus and Business Strategy - Revenue from external customers in Hong Kong was HKD 15,134,000, while revenue from mainland China and Macau was HKD 157,000, indicating a strong focus on the Hong Kong market[27]. - The company’s operational activities are primarily focused on interior design, project management services, and interior renovation works in Hong Kong and mainland China[21]. - The management's discussion indicates a focus on commercial interior design and contracting services, primarily in Hong Kong[62]. - The company plans to strengthen its market adaptability and continue expanding its business in response to the growing demand for design and renovation projects[64]. Employee and Operational Costs - Total employee costs for the six months ended June 30, 2021, amounted to 3,671,000 HKD, up from 3,041,000 HKD in the same period of 2020, reflecting an increase of approximately 20.8%[30]. - As of June 30, 2021, the group had 18 employees, a decrease from 20 employees as of December 31, 2020, and regularly reviews compensation to attract and retain high-performing staff[82]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM listing rules and has complied with its provisions, except for a deviation regarding the separation of roles of the chairman and CEO[105][107]. - The audit committee has reviewed the unaudited interim financial results for the six months ending June 30, 2021, ensuring compliance with applicable accounting standards and GEM listing rules[110].

Financial Performance - For the three months ended March 31, 2021, the group's revenue decreased by approximately 39.2% to about HKD 16.1 million from approximately HKD 26.6 million in the same period last year[5]. - The gross profit for the period fell to approximately HKD 2.7 million, down from approximately HKD 11.6 million in the previous year[5]. - The profit attributable to owners of the company was approximately HKD 0.5 million, compared to HKD 7.4 million in the same period last year[5]. - Basic and diluted earnings per share were HKD 0.05, down from HKD 0.74 in the previous year[7]. - Operating profit for the period was HKD 0.621 million, significantly lower than HKD 8.868 million in the same period last year[8]. - The total comprehensive income for the period, after tax, was HKD 479,000, compared to HKD 7.026 million in the previous year[8]. - The company reported a decrease in other income to HKD 28,000 from HKD 165,000 in the previous year[8]. - The company's pre-tax profit for the three months ended March 31, 2021, was HKD 497,000, down 93% from HKD 7,362,000 in the same period of 2020[31]. - Basic earnings per share for the three months ended March 31, 2021, were HKD 0.05, a decrease of 93% from HKD 0.74 in the same period of 2020[31]. Dividend and Shareholder Returns - The board of directors did not recommend the payment of an interim dividend for the period, while there was no dividend in the same period last year[5]. - The company did not recommend any interim dividend for the three months ended March 31, 2021, consistent with the same period in 2020[32]. - The group did not recommend an interim dividend for the current period, consistent with the previous year[46]. Costs and Expenses - Employee costs increased to HKD 2,088,000 for the three months ended March 31, 2021, compared to HKD 1,549,000 for the same period in 2020, reflecting a rise of 35%[24]. - The direct costs for the period were HKD 13.491 million, slightly down from HKD 14.989 million in the previous year[8]. - The direct costs for the three months ended March 31, 2021, were HKD 13,491,000, a decrease of 10% from HKD 14,989,000 in the same period of 2020[27]. - Administrative expenses decreased from HKD 2.9 million to HKD 2.1 million, mainly due to a reversal of HKD 0.3 million in trade receivables impairment[43]. - The income tax expense for the three months ended March 31, 2021, was HKD 114,000, significantly lower than HKD 1,490,000 for the same period in 2020[28]. - The company recorded a depreciation expense of HKD 202,000 for property, plant, and equipment, down from HKD 276,000 in the same period of 2020[27]. - The interest on lease liabilities decreased to HKD 10,000 for the three months ended March 31, 2021, from HKD 16,000 in the same period of 2020[22]. Market and Operational Insights - The company primarily operates in Hong Kong, providing interior design, project management services, and interior renovation works[13]. - Revenue from design and renovation projects increased from HKD 5.1 million to HKD 12.0 million, mainly due to a HKD 7.8 million increase from elderly care projects[38]. - The group completed several elderly care and office property projects during the period, despite the ongoing impact of the COVID-19 pandemic[36]. - The group anticipates continued growth in the interior design and renovation market, particularly in commercial spaces and healthcare centers, driven by increasing public awareness of health issues and an aging population[37]. Financial Position and Liquidity - As of March 31, 2021, the group's net current assets amounted to approximately HKD 140.7 million, an increase from HKD 140.1 million as of December 31, 2020[49]. - The group's cash and cash equivalents were approximately HKD 122.5 million as of March 31, 2021, compared to HKD 113.7 million as of December 31, 2020[49]. - The current ratio as of March 31, 2021, was approximately 14.4 times, up from 10.1 times as of December 31, 2020, primarily due to a decrease in trade and other payables[49]. - As of March 31, 2021, the group had no outstanding borrowings, indicating no significant debt financing needs during the period[49]. - The total equity attributable to owners of the company was approximately HKD 142.5 million as of March 31, 2021, compared to HKD 142.0 million as of December 31, 2020[50]. - The group had no significant capital commitments as of March 31, 2021[54]. - The group maintained a prudent financial management policy, ensuring a stable liquidity position throughout the period[52]. - The group had no significant contingent liabilities as of March 31, 2021[56]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with its provisions, except for a deviation from rule A.2.1[66]. - The board believes that having the same individual serve as both Chairman and CEO is beneficial for the company's business prospects and operational efficiency[66]. - The audit committee has been established since November 18, 2016, and is responsible for reviewing financial statements and overseeing risk management and internal control procedures[69]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[69]. - The audit committee currently consists of three members, with Ms. Su Yingzhi serving as the chairperson[69]. - The board will continue to review the effectiveness of the corporate governance structure to assess the need for separating the roles of Chairman and CEO[66]. - The company has a proper power distribution within the board, ensuring that independent non-executive directors can effectively perform their functions[66]. - All directors have complied with the trading rules during the three-month period ending March 31, 2021, with no known non-compliance issues[67]. - The company has not reported any non-compliance situations during the specified period[67]. - No shares of the company were purchased, sold, or redeemed by the company or its subsidiaries during the three months ended March 31, 2021[68].

Financial Performance - The group's revenue decreased by approximately 21.5% from about HKD 104.9 million in the previous year to about HKD 82.4 million in 2020[10]. - Gross profit fell from approximately HKD 48.6 million to about HKD 35.6 million, representing a decrease of about 26.7%[10]. - Profit attributable to shareholders decreased from approximately HKD 27.2 million to about HKD 16.7 million[11]. - The decline in revenue was primarily driven by decreases in design and renovation projects for offices, medical centers, shopping centers, and restaurants, although this was partially offset by increased revenue from retail store renovation projects[38]. - The overall gross profit margin decreased from approximately 46.4% in the previous year to about 43.3% in the current year, primarily due to lower margins in retail and warehouse projects[52]. - The annual profit of the group decreased from approximately HKD 27.2 million last year to about HKD 16.7 million this year, primarily due to a reduction in gross profit from design and renovation projects[56]. Dividend and Shareholder Returns - The company proposed a final dividend of HKD 0.30 per share, up from HKD 0.25 per share in the previous year[12]. - The board proposed a final dividend of HKD 0.30 per share for the year ended December 31, 2020, an increase from HKD 0.25 per share in 2019, totaling HKD 3.0 million[88]. Business Strategy and Market Focus - The company plans to apply for a transfer from GEM to the main board to enhance business development and create long-term value for shareholders[13]. - The company aims to focus on the healthcare sector, anticipating an increase in design and renovation projects for healthcare centers, clinics, and elderly care homes due to an aging population in Hong Kong[13]. - The company remains optimistic about the future of the interior design and renovation market and will continue to invest resources in commercial spaces and healthcare centers[13]. - The group plans to transition its ordinary shares from GEM to the main board, which is expected to enhance the group's image and increase liquidity[40]. - The group aims to strengthen its market position and continue its business expansion plans in response to the growing demand for design and renovation projects[42]. Revenue Growth and Projections - Revenue for the last quarter reached $150 million, representing a 15% increase compared to the previous quarter[23]. - The company has set a future revenue guidance of $200 million for the next quarter, indicating a projected growth of 33%[23]. - New product launches are expected to contribute an additional $30 million in revenue over the next fiscal year[23]. - Market expansion plans include entering two new regions, which are projected to increase market share by 10%[23]. Customer Engagement and Satisfaction - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[23]. - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the previous year[23]. Cost Management and Efficiency - The company has implemented cost-cutting measures that are expected to save $5 million annually[23]. - General and administrative expenses remained relatively stable at approximately HKD 16.1 million this year compared to HKD 16.9 million last year[53]. Financial Position and Assets - As of December 31, 2020, the group's net current assets amounted to approximately HKD 140.1 million, an increase from HKD 124.8 million in 2019[76]. - The group reported cash and cash equivalents of approximately HKD 113.7 million as of December 31, 2020, compared to HKD 91.0 million in 2019[76]. - The current ratio as of December 31, 2020, was approximately 10.1 times, up from 3.9 times in 2019, primarily due to a decrease in contract liabilities and trade payables[76]. - The total equity attributable to owners as of December 31, 2020, was approximately HKD 142.0 million, compared to HKD 128.0 million in 2019[77]. Risk Management and Compliance - The group recognized a trade receivables loss provision of HKD 3.9 million as of December 31, 2020, compared to HKD 2.0 million in 2019, reflecting an increase in expected credit losses[57]. - The company has established a risk management team to identify and monitor risks, which includes operational staff and the company secretary, ensuring compliance with governance codes and applicable laws[184]. - The board has confirmed that the internal control measures are effective and sufficient, with an independent external consultant reviewing these measures during the year ended December 31, 2020[183]. Governance and Board Structure - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a diverse governance structure[151]. - The company has established a clear separation of responsibilities between the chairman and the CEO to enhance governance efficiency[152]. - The independent non-executive directors have confirmed their independence according to GEM listing rules, ensuring effective oversight[154]. - The Audit Committee held four meetings to review the group's quarterly, interim, and annual performance, financial reporting, compliance procedures, and risk management effectiveness[173]. Employee and Stakeholder Relations - The company provides competitive compensation packages to attract, develop, and retain outstanding employees, including performance bonuses and internal promotion opportunities[123]. - The company has established good relationships with suppliers and customers, which is crucial for achieving current and long-term goals[101]. Sustainability and Corporate Responsibility - The company has implemented green office measures to promote sustainability, including energy-saving practices and waste reduction[99].