Financial Performance - The group's total revenue increased by approximately HKD 80.5 million or 31.3% from about HKD 257.2 million for the year ended March 31, 2022, to approximately HKD 337.7 million for the year ended March 31, 2023[10]. - Profit attributable to the company's owners rose by approximately HKD 5.4 million or 67.5% from about HKD 8.0 million for the year ended March 31, 2022, to approximately HKD 13.4 million for the year ended March 31, 2023[10]. - Revenue increased from approximately HKD 257.2 million for the year ended March 31, 2022, to approximately HKD 337.7 million for the year ended March 31, 2023, representing a growth of about 31.3%[20]. - Gross profit increased from approximately HKD 34.3 million to approximately HKD 42.7 million, a growth of about 24.5%[23]. - Sales costs rose from approximately HKD 222.9 million to approximately HKD 295.0 million, an increase of about 32.3%[22]. - Other income surged from approximately HKD 0.2 million to approximately HKD 1.3 million, primarily due to subsidies received under the employment support scheme[24]. - Administrative expenses rose from approximately HKD 16.0 million to approximately HKD 22.0 million, an increase of about 37.5%[28]. - Income tax expenses rose by approximately HKD 0.5 million or 31.3%, from about HKD 1.6 million for the year ended March 31, 2022, to approximately HKD 2.1 million for the year ended March 31, 2023, due to an increase in profit before tax from approximately HKD 9.6 million to about HKD 15.6 million[30]. - The overall gross profit margin remained relatively stable at approximately 13.3% for the year ended March 31, 2022, and approximately 12.7% for the year ended March 31, 2023[23]. Business Strategy and Outlook - The company is cautiously optimistic about the overall business outlook as it expects to benefit from the gradual economic recovery post-COVID-19[11]. - The company will continue to provide comprehensive services in new basic engineering, site leveling, renovation, and maintenance works, among others[11]. - The company successfully acquired 50% of the issued share capital of an investment company, which has become a joint venture, focusing on commercial redevelopment projects in Tsim Sha Tsui[11]. - The investment strategy includes diversifying the business portfolio and expanding the customer base through active participation in property redevelopment projects[11]. - The company continues to explore business and investment opportunities to enhance revenue sources and secure larger projects[18]. Capital and Financing - The capital debt ratio decreased from approximately 68.9% as of March 31, 2022, to about 63.3% as of March 31, 2023, primarily due to an increase in total equity[35]. - As of March 31, 2023, the group's bank balance and cash amounted to approximately HKD 44.0 million, down from HKD 51.3 million in the previous year[35]. - The group has provided a shareholder loan of approximately HKD 33.5 million to the joint venture Acasa as of March 31, 2023[38]. - The company has committed to a maximum principal amount of HKD 154 million for a 36-month term loan financing to develop a property[53]. - The group's financing costs increased from approximately HKD 2.4 million for the year ended March 31, 2022, to approximately HKD 4.0 million for the year ended March 31, 2023, an increase of about HKD 1.6 million[29]. Employee and Management - As of March 31, 2023, the company employed a total of 57 employees, an increase from 49 employees in the previous year[57]. - The total employee costs, including director remuneration, amounted to approximately HKD 27.1 million for the year ending March 31, 2023, compared to approximately HKD 21.3 million in the previous year[57]. - The company made total contributions to the retirement benefits plan of approximately HKD 0.8 million for the year ending March 31, 2023, up from HKD 0.6 million in the previous year[59]. - The employee turnover rate rose to 24% in 2023 from 22% in 2022, with male turnover at 36% and female turnover at 9%[167]. - The company has developed clear policies to attract and retain talent, focusing on competitive compensation and career development opportunities[165]. Corporate Governance - The company has adopted corporate governance practices in line with GEM listing rules and has complied with all significant aspects of the corporate governance code[62]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors as of March 31, 2023[69]. - The company has implemented a board diversity policy, aiming to include at least one female director by the end of 2024[77]. - The independent non-executive directors provide extensive business and financial expertise, contributing to effective governance and decision-making[80]. - The company emphasizes compliance with the GEM listing rules and has established internal controls to ensure adherence to governance standards[69]. Environmental and Social Responsibility - The company has committed to reducing emissions by 10% in the coming year[156]. - Total greenhouse gas emissions decreased from 93 tons in 2022 to 69 tons in 2023, representing a reduction of approximately 26%[155]. - The total electricity consumption decreased from 63,056 kWh in 2022 to 47,885 kWh in 2023, a reduction of about 24%[160]. - The company has maintained the same environmental, social, and governance management structure as the previous year[152]. - The company encourages employees to adopt energy-saving practices, such as turning off lights and using double-sided printing[157]. Compliance and Risk Management - The company has implemented a risk management and internal control system, which is regularly reviewed by the audit committee[96]. - The company has a strict anti-discrimination and equal opportunity policy, ensuring fair employment practices[81]. - The group has a zero-tolerance policy towards corruption and encourages employees to report any misconduct[182]. - There were no non-compliance cases related to anti-corruption laws and regulations as of March 31, 2023[184]. - The company has not reported any significant non-compliance in emissions or waste management during the fiscal year[154].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就 因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 CHI HO DEVELOPMENT HOLDINGS LIMITED 潪 㵆 發 展 控 股 有 限 公 司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：8423） 截 至2023年3月31日 止 年 度 的 年 度 業 績 公 告 潪㵆發展控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本 公司及其附屬公司截至2023年3月31日止年度的經審核綜合年度業績。載 有 本 公 司 截 止2023年3月31日 止 年 度 的 年 報 全 文 的 本 公 告 符 合 香 港 聯 合 交易所有限公司GEM證券上市規則（「GEM上市規則」）內有關年度業績初 步公告附載資料的相關規定。 承董事會命 潪㵆發展控股有限公司 董事會主席兼執行董事 梁家浩 香港，2023年6月21日 於本公告日期，執行董事為梁家浩先生及何智崐先生；以及獨立非執行 董事為梁雄光先生、梅 ...

Financial Performance - For the nine months ended December 31, 2022, the company's revenue was HKD 261,482,000, representing a 31.3% increase from HKD 199,017,000 in the same period of 2021[4] - Gross profit for the same period was HKD 34,403,000, up 20.5% from HKD 28,603,000 year-on-year[4] - The company's profit before tax for the nine months was HKD 15,922,000, an increase of 10.4% compared to HKD 14,470,000 in the previous year[4] - Net profit for the nine months was HKD 13,073,000, reflecting a 7.4% increase from HKD 12,170,000 in the same period of 2021[4] - Basic earnings per share for the nine months was HKD 1.63, compared to HKD 1.52 in the previous year, marking a 7.2% increase[4] - The company reported total comprehensive income of HKD 13,073,000 for the nine months, down from HKD 14,525,000 in the previous year[4] Expenses and Costs - Administrative expenses increased to HKD 15,907,000 for the nine months, compared to HKD 11,936,000 in the same period of 2021, representing a 33.2% rise[4] - Financing costs for the nine months were HKD 3,386,000, up from HKD 1,694,000, indicating a significant increase of 99.5%[4] - Cost of sales rose from approximately HKD 170.4 million to approximately HKD 227.1 million, an increase of 33.3%[30] - Administrative expenses rose from approximately HKD 11.9 million to approximately HKD 15.9 million, an increase of 33.6%[35] - Financing costs doubled from approximately HKD 1.7 million to approximately HKD 3.4 million, a 100% increase[36] Project and Revenue Generation - The company secured 47 projects generating revenue for the nine months ended December 31, 2022, compared to 38 projects in the same period of 2021[22] - The total original contract amount for new projects secured was approximately HKD 268.7 million for the nine months ended December 31, 2022, up from HKD 255.4 million in the same period of 2021[22] - Total revenue for the nine months ended December 31, 2022, was HKD 261,482,000, with construction segment contributing HKD 261,187,000 and property segment contributing HKD 295,000[14] Dividends and Shareholder Information - The company declared dividends of HKD 2,000,000 during the period, consistent with the previous year[5] - The company did not declare any interim dividend for the nine months ended December 31, 2022, consistent with the same period in 2021[19] - As of December 31, 2022, the company’s directors and senior executives held a total of 548,490,000 shares, representing 68.6% of the company’s issued share capital[45] - Sharp Talent and Diamondfield, both beneficially owned by the directors, each held 533,000,000 shares, accounting for 66.6% of the company’s issued share capital[50] Corporate Governance - The audit committee has been established and consists of three independent non-executive directors, ensuring compliance with corporate governance standards[58] - The audit committee reviewed the unaudited consolidated financial statements for the nine months ended December 31, 2022, and found them to comply with applicable financial reporting standards[60] - The chairman and CEO roles are held by the same individual, Mr. Leung Ka Ho, which the board believes is in the best interest of the company for effective management[55] Strategic Focus and Market Position - The company continues to focus on expanding its operations in Hong Kong, particularly in renovation and maintenance projects, as well as property investment for rental income[8] - The company plans to explore further business and investment opportunities to enhance revenue sources[27] - The overall market position is expected to strengthen due to the experienced management team and ongoing projects in the construction industry[27] COVID-19 Impact Mitigation - The company has implemented policies to mitigate the impact of the COVID-19 pandemic on its operations, including emergency planning and ensuring sufficient manpower and material supplies[25] - The company is actively monitoring the COVID-19 situation and maintaining communication with clients, suppliers, and subcontractors to assess any potential impacts on ongoing projects[23] Other Information - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the nine months ended December 31, 2022[54] - There were no reported competitive businesses or conflicts of interest involving the directors or major shareholders as of December 31, 2022[53] - No share options were granted during the review period, and there were no unexercised share options as of December 31, 2022[57] - The company incurred a Hong Kong profits tax expense of HKD 2,849,000 for the nine months ended December 31, 2022, compared to HKD 2,300,000 for the same period in 2021[17] - Other income increased from approximately HKD 0.1 million to approximately HKD 1.4 million, primarily due to subsidies received under the Employment Support Scheme[32] - Profit attributable to owners increased from approximately HKD 12.2 million to approximately HKD 13.1 million, a growth of 7.4%[39] - The company acquired an additional 25% of Acasa Property Limited, increasing its ownership to 50%[40] - The company conditionally agreed to purchase 25% of Acasa's issued share capital and provide shareholder loans of HKD 40 million and HKD 100 million[43] - The total principal amount of the secured loan for K18 Property Limited is up to HKD 154 million for a 36-month term[43] - After the completion of the acquisition, Acasa became a joint venture with a 50% interest held by the company[43]

Financial Performance - The Group reported revenue of HKD 168,851,000 for the six months ended September 30, 2022, representing a 31.3% increase from HKD 128,673,000 in the same period last year[6]. - Gross profit for the six months was HKD 21,981,000, up 18.5% from HKD 18,546,000 year-on-year[6]. - The Group's net profit for the period was HKD 8,368,000, a slight increase of 1.0% compared to HKD 8,289,000 in the previous year[6]. - Basic earnings per share for the six months was HKD 1.05, compared to HKD 1.04 in the same period last year[6]. - The total revenue for the six months ended September 30, 2022, was HKD 168,851,000, an increase from HKD 128,673,000 for the same period in 2021, representing a growth of approximately 31.2%[22][23]. - The company reported a total comprehensive income of HKD 8,368,000 for the six months ended September 30, 2022, compared to HKD 8,289,000 for the same period in 2021[9]. - The company's profit attributable to owners increased from approximately HKD 8.3 million to approximately HKD 8.4 million, a growth of about 1.2%[66]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to HKD 147,295,000, an increase from HKD 139,624,000 as of March 31, 2022[8]. - Current assets increased to HKD 286,894,000 from HKD 276,818,000, indicating a growth of 3.9%[8]. - The Group's total equity rose to HKD 144,247,000 from HKD 135,879,000, reflecting a growth of 6.4%[8]. - Trade and other receivables increased significantly to HKD 108,391,000 from HKD 81,003,000, marking a 33.8% increase[8]. - The company's trade receivables as of September 30, 2022, were HKD 56,958,000, an increase from HKD 33,252,000 as of March 31, 2022, indicating a growth of 71.2%[34]. - The total amount of trade and other payables reached HKD 92,558,000 as of September 30, 2022, up from HKD 65,622,000 as of March 31, 2022, indicating a rise of approximately 41%[39]. - The trade payables increased significantly to HKD 33,950,000 as of September 30, 2022, compared to HKD 14,833,000 as of March 31, 2022, marking an increase of about 129%[39]. Cash Flow and Financing - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (6,165,000), an improvement compared to HKD (24,025,000) in the previous year[12]. - The financing activities resulted in a net cash outflow of HKD (18,550,000) for the six months ended September 30, 2022, compared to a net inflow of HKD 9,693,000 in the previous year[12]. - The company’s bank interest income for the six months ended September 30, 2022, was HKD 87,000, significantly up from HKD 8,000 in the same period of 2021, marking an increase of 1,087.5%[25]. - The company’s cash and cash equivalents decreased to HKD 23,476,000 as of September 30, 2022, down from HKD 51,279,000 at the beginning of the period[12]. - The Group's bank borrowings decreased to HKD 72,721,000 from HKD 88,840,000, a reduction of 18.2%[8]. Operational Highlights - The company generated HKD 168,654,000 from customer contract revenue in the construction segment, with significant contributions from renovation and maintenance works[22]. - The company continues to focus on expanding its construction services, particularly in renovation and maintenance, which accounted for HKD 89,833,000 of the total revenue[22]. - The company secured 40 projects generating revenue in the six months ended September 30, 2022, compared to 30 projects in the same period last year, representing a 33% increase[50]. - The company obtained 17 new projects with a total original contract value of approximately HKD 182.4 million in the six months ended September 30, 2022, compared to 9 projects valued at HKD 78.9 million in the same period last year, indicating a significant increase in project value[50]. Employee and Administrative Expenses - Total employee costs for the six months ended September 30, 2022, amounted to HKD 11,637,000, up from HKD 9,463,000 in the same period of 2021, reflecting a growth of 23.1%[25]. - The company’s major management personnel compensation totaled HKD 1,407,000 for the three months ended September 30, 2022, compared to HKD 1,107,000 in the same period last year, reflecting an increase of approximately 27%[47]. - The Group's administrative expenses for the six months were HKD 9,482,000, up from HKD 7,077,000, indicating a rise of 33.9%[6]. Dividends and Share Capital - The company declared an interim dividend of HKD 0.25 per share, totaling HKD 2,000,000 for the six months ended September 30, 2022, compared to no dividend in the same period of 2021[28]. - The issued share capital of the company was HKD 8,000,000 as of September 30, 2022, with 800,000,000 ordinary shares issued[71]. Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022[96]. - The company has complied with the corporate governance code as of September 30, 2022, except for the separation of roles between the chairman and CEO[90]. - No directors or major shareholders have reported any competing business interests as of September 30, 2022[88].

Financial Performance - The Group's revenue for the three months ended June 30, 2022, was HKD 84,279,000, representing a 24.5% increase from HKD 67,639,000 in the same period of 2021[4] - Gross profit for the same period was HKD 9,910,000, slightly up from HKD 9,502,000, indicating a gross margin improvement[4] - The Group's profit before tax was HKD 4,636,000, compared to HKD 4,931,000 in the previous year, reflecting a decrease of 6%[4] - Net profit for the period was HKD 3,900,000, down from HKD 4,238,000, resulting in a decrease of 8% year-on-year[4] - Basic earnings per share for the quarter was HKD 0.49, compared to HKD 0.53 in the same quarter of the previous year[4] - Total revenue increased from approximately HKD 67.6 million for the three months ended June 30, 2021, to approximately HKD 84.3 million for the same period in 2022, representing a growth of about 24.7%[21] - Gross profit increased by approximately HKD 0.4 million or 4.2% to approximately HKD 9.9 million, with the overall gross margin declining from about 14.0% to 11.8%[23] - Profit attributable to owners decreased by approximately HKD 0.3 million or 7.1% to about HKD 3.9 million for the three months ended June 30, 2022[30] Expenses and Costs - The Group's administrative expenses rose to HKD 4,567,000 from HKD 3,707,000, indicating a 23.2% increase[4] - Financing costs increased to HKD 781,000 from HKD 473,000, reflecting a rise of 65%[4] - Sales costs rose from approximately HKD 58.1 million to approximately HKD 74.4 million, an increase of about 28.1% due to a higher number of RMAA and renovation projects undertaken[22] - Administrative expenses increased by approximately HKD 0.9 million or 24.3% to about HKD 4.6 million, mainly due to higher employee costs and depreciation expenses[27] - Financing costs rose by approximately HKD 0.3 million or 60.0% to about HKD 0.8 million, attributed to increased bank loans and guarantees[28] Business Operations and Strategy - Revenue from building maintenance and construction services was HKD 84,181,000, with significant contributions from maintenance and renovation projects[13] - The Group continues to focus on expanding its building maintenance and construction services in Hong Kong, aiming for further growth in the upcoming quarters[13] - The group believes that future opportunities and challenges will continue to be influenced by the pace of recovery in Hong Kong post-pandemic, affecting the property market and labor/material costs[35] - The number of properties constructed and maintained in Hong Kong remains a key driver for growth in the RMAA and renovation industries[35] - The group aims to strengthen its market position and expand market share by exploring business and investment opportunities to enhance revenue sources[35] - The group may consider acquisitions, business rationalization, fundraising, and/or diversification to improve long-term growth potential[35] Corporate Governance - The company did not declare an interim dividend for the three months ended June 30, 2022, compared to no dividend declared for the same period in 2021[17] - The company did not recommend any interim dividend for the three months ended June 30, 2022[47] - The chairman and CEO roles are held by the same individual, Mr. Leung Ka Ho, which the board believes is in the best interest of the company[45] - No directors or major shareholders had any competing business interests or potential conflicts of interest as of June 30, 2022[43] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the period ending June 30, 2022[44] - The audit committee has reviewed the unaudited consolidated results for the three months ended June 30, 2022, and found them to comply with applicable accounting policies and GEM listing rules[51] Shareholding and Ownership - As of June 30, 2022, both Mr. Leung and Mr. Ho hold 533,000,000 shares each, representing 66.6% of the company's ordinary shares[36] - The beneficial ownership of Mr. Leung and Mr. Ho includes shares held through their respective companies, Sharp Talent and Diamondfield[39] Market Conditions - The company continues to monitor the impact of the COVID-19 pandemic on its operations, although projects have not been suspended due to the pandemic[33] - The group is prepared to compete against future challenges faced by all competitors in the industry[35] - The management team is experienced and has a strong reputation in the market, positioning the group favorably for future competition[35] Investments - There were no significant investments, acquisitions, or disposals of subsidiaries and associates during the reporting period[32] - The company entered into a sale and purchase agreement on August 8, 2022, to acquire 25% of the issued share capital of Acasa Property Limited[49]

Financial Performance - The group's total revenue decreased by approximately HKD 24.5 million or 8.7% to about HKD 257.2 million for the year ended March 31, 2022, compared to approximately HKD 281.7 million for the previous year[10]. - Profit attributable to the company's owners dropped by approximately HKD 13.4 million or 62.6% to about HKD 8.0 million for the year ended March 31, 2022, down from approximately HKD 21.4 million[10]. - Revenue decreased from approximately HKD 281.7 million for the year ended March 31, 2021, to approximately HKD 257.2 million for the year ended March 31, 2022, a decline of about 8.7%[19]. - Gross profit decreased from approximately HKD 39.4 million for the year ended March 31, 2021, to approximately HKD 34.3 million for the year ended March 31, 2022, with a slight reduction in gross profit margin from about 14.0% to approximately 13.3%[22]. - Administrative expenses increased by approximately HKD 3.5 million or 28.0% from about HKD 12.5 million for the year ended March 31, 2021, to about HKD 16.0 million for the year ended March 31, 2022[27]. - Other income significantly decreased from approximately HKD 2.3 million for the year ended March 31, 2021, to approximately HKD 0.2 million for the year ended March 31, 2022[23]. - The adjusted profit for the year, excluding non-recurring items, decreased from approximately HKD 19.4 million for the year ended March 31, 2021, to approximately HKD 14.5 million for the year ended March 31, 2022, a reduction of about 25.3%[31]. - Financing costs increased by approximately HKD 0.5 million or 26.3%, from about HKD 1.9 million for the year ended March 31, 2021, to about HKD 2.4 million for the year ended March 31, 2022[29]. - Income tax expenses decreased by approximately HKD 2.0 million or 55.6%, from about HKD 3.6 million for the year ended March 31, 2021, to about HKD 1.6 million for the year ended March 31, 2022[30]. - The company's bank balance and cash increased to approximately HKD 51.3 million as of March 31, 2022, compared to HKD 33.3 million as of March 31, 2021[35]. - The company's total bank borrowings increased to approximately HKD 88.8 million as of March 31, 2022, from HKD 40.7 million as of March 31, 2021, resulting in a capital debt ratio increase from about 31.9% to 65.4%[35]. - The company did not recommend the payment of a final dividend for the year ended March 31, 2022, compared to a dividend of HKD 0.025 per share totaling HKD 2.0 million for the previous year[32]. - As of March 31, 2022, the company's distributable reserves, including share premium and retained earnings, are approximately HKD 20.3 million, down from HKD 23.4 million in the previous year[186]. Impact of COVID-19 - The COVID-19 pandemic significantly impacted the group, particularly due to strict government measures during the fifth wave of infections starting January 2022, affecting various business activities including construction[11]. - The group faced temporary manpower shortages and project delays due to the fifth wave of COVID-19 in Hong Kong, impacting the last quarter's revenue significantly[19][17]. - The company has implemented various measures to mitigate the impact of the pandemic on operations, including emergency planning and monitoring of the COVID-19 situation[16][17]. - The company remains cautiously optimistic about future business prospects, hoping for economic recovery as the pandemic stabilizes[11]. Business Strategy and Future Plans - The company plans to continue providing comprehensive services in maintenance, renovation, and site preparation, while also engaging in property investment under a new division in Hong Kong[11]. - The group plans to explore business and investment opportunities to enhance revenue sources and pursue larger projects in the future[18]. - The group secured 27 new projects with a total contract value of approximately HKD 395.6 million for the year ended March 31, 2022, compared to 30 projects valued at approximately HKD 340.6 million in the previous year[14]. Corporate Governance - The company is led by Mr. Leung Ka Ho, who serves as both Chairman and CEO, ensuring effective management and business development since 2002[52]. - The board consists of five members, including two executive directors and three independent non-executive directors, all of whom attended 100% of board meetings during the fiscal year ending March 31, 2022[67]. - The company has adhered to all applicable corporate governance codes during the fiscal year ending March 31, 2022[53]. - The board has implemented a diversity policy, considering various measurable criteria such as gender, age, and professional experience in its composition[63]. - The company emphasizes the importance of diverse board membership for enhancing performance quality[63]. - The board is responsible for overseeing corporate governance functions, including policy formulation and compliance with legal regulations[68]. - The company has established a code of conduct for directors regarding securities trading, with no violations reported during the fiscal year[54]. - The board regularly reviews its assigned duties and responsibilities to ensure effective governance and management oversight[59]. - The company held five board meetings and one annual general meeting during the fiscal year, with full attendance from all directors[67]. Risk Management - The company emphasizes the importance of risk management practices to effectively mitigate operational and financial risks[161]. - The company has established a risk management framework that includes a three-tier approach to identify, analyze, assess, mitigate, and respond to risks[90]. - The board believes that the risk management and internal control systems are effective and adequate as of March 31, 2022[87]. - The company has implemented appropriate procedures to protect its assets from unauthorized use or misappropriation[89]. - The company aims to maintain an effective internal control system to safeguard shareholder investments and group assets[87]. Environmental, Social, and Governance (ESG) - The company has complied with the environmental, social, and governance (ESG) reporting guidelines as per GEM listing rules, focusing on minimizing negative environmental impacts and creating stakeholder value[105]. - The board is responsible for the company's environmental, social, and governance (ESG) strategy and reporting, ensuring compliance with relevant regulations[176]. - The company has maintained the same ESG governance structure and processes as the previous year, responsible for setting goals and monitoring performance[107]. - The company has implemented emission control measures, including the use of ultra-low sulfur diesel and noise emission labeled machinery, with no significant non-compliance in emissions reported for the year ending March 31, 2022[109]. - Total greenhouse gas emissions increased from 73 tons in 2021 to 93 tons in 2022, representing a 27.4% increase[110]. - Total electricity consumption rose significantly from 38,844 kWh in 2021 to 63,056 kWh in 2022, a 62.2% increase[113]. - The company has implemented an environmental management system certified to ISO 14001 standards[113]. - The company has established a safety management system compliant with ISO 45001 standards[124]. Employee and Community Engagement - Employee turnover rate surged to 22% in 2022 from just 2% in 2021, indicating a significant increase in workforce instability[119]. - The company aims to attract and retain suitable personnel by offering competitive compensation packages and conducting annual reviews for salary increases and promotions[166]. - The company actively participates in community service and charitable donations, focusing on supporting education and environmental protection activities[136]. - Total training hours for female employees in project management increased from 40 hours in 2021 to 75 hours in 2022, while male employees' hours decreased from 523 hours to 702 hours[127]. - The company encourages employees to report any misconduct through a confidential whistleblowing policy[133]. Supplier and Customer Relations - The company maintains strong relationships with major customers, which is crucial for securing project bids and ensuring a stable number of projects[189]. - Stable business relationships with key suppliers and subcontractors are essential for timely delivery of materials and labor support[190]. - The company maintains a strict supplier evaluation process, ensuring that only approved subcontractors and suppliers with good quality and timely delivery records are selected[129]. - The company regularly reviews and updates its approved list of suppliers and subcontractors based on performance evaluations[190]. Compliance and Legal - The company has not encountered any significant or systemic non-compliance with relevant laws and regulations during the year[175]. - The company reported zero cases of non-compliance related to child labor and forced labor as of March 31, 2022[128]. - The company has a zero-tolerance policy towards corruption, with no reported violations of anti-corruption laws as of March 31, 2022[135].

Financial Performance - For the three months ended December 31, 2021, the company reported revenue of HKD 70,344,000, a decrease of 9.2% compared to HKD 74,048,000 for the same period in 2020[6] - Gross profit for the nine months ended December 31, 2021, was HKD 28,603,000, representing an increase of 14.0% from HKD 24,915,000 in the same period of 2020[6] - The company recorded a net profit of HKD 12,170,000 for the nine months ended December 31, 2021, a decrease of 5.0% compared to HKD 12,810,000 for the same period in 2020[6] - The basic earnings per share for the nine months ended December 31, 2021, was HKD 1.52, down from HKD 1.61 in the same period of 2020[6] - The company reported a total comprehensive income of HKD 14,525,000 for the nine months ended December 31, 2021, compared to HKD 12,810,000 for the same period in 2020, indicating an increase of 13.3%[6] Expenses and Costs - Administrative expenses increased to HKD 11,936,000 for the nine months ended December 31, 2021, compared to HKD 8,884,000 in the same period of 2020, reflecting a rise of 34.0%[6] - The company’s financing costs increased to HKD 1,694,000 for the nine months ended December 31, 2021, compared to HKD 1,449,000 in the same period of 2020, representing a rise of 16.9%[6] - Other income for the nine months ended December 31, 2021, was HKD 100,000, significantly lower than HKD 2,245,000 in the same period of 2020[6] - The group's cost of sales decreased from approximately HKD 172.4 million for the nine months ended December 31, 2020, to approximately HKD 170.4 million for the nine months ended December 31, 2021, a reduction of about 1.2%[24] - The group's administrative expenses rose by approximately HKD 3.0 million or 33.7% to approximately HKD 11.9 million for the nine months ended December 31, 2021[28] - Financing costs increased by approximately HKD 0.3 million or 21.4% to approximately HKD 1.7 million for the nine months ended December 31, 2021[29] - Income tax expenses rose by approximately HKD 0.1 million or 4.5% to approximately HKD 2.3 million for the nine months ended December 31, 2021[30] Equity and Shareholder Information - The company’s total equity as of December 31, 2021, was HKD 140,027,000, an increase from HKD 118,869,000 as of December 31, 2020[7] - The company’s directors and senior executives collectively own 533,000,000 shares, representing 66.6% of the company[38] - As of December 31, 2021, Sharp Talent and Diamondfield each hold 533,000,000 shares, representing a 66.6% stake in the company[43] - The company did not declare an interim dividend for the nine months ended December 31, 2021, compared to no dividend declared in the previous year[49] - There were no share options granted during the reporting period, and no unexercised share options as of December 31, 2021[51] Project and Operational Updates - The company plans to continue focusing on building maintenance and construction services in Hong Kong, with no new segments reported[15] - The group’s revenue increased from approximately HKD 197.3 million for the nine months ended December 31, 2020, to approximately HKD 199.0 million for the nine months ended December 31, 2021, representing a growth of about 0.9%[23] - The profit attributable to the company's owners decreased by approximately HKD 0.6 million or 4.7% to approximately HKD 12.2 million for the nine months ended December 31, 2021[31] - The total comprehensive income attributable to the company's owners increased by approximately HKD 1.7 million or 13.3% to approximately HKD 14.5 million for the nine months ended December 31, 2021[32] - The company secured 18 new projects with a total original contract value of approximately HKD 255.4 million during the nine months ended December 31, 2021[33] - The number of projects generating revenue decreased from 42 to 38 for the nine months ended December 31, 2021[33] COVID-19 Response - The company has implemented emergency plans during project planning to mitigate the impact of the COVID-19 pandemic, including backup personnel and suppliers[35] - No significant delays or work stoppages occurred due to the pandemic in the nine months ending December 31, 2021, despite an overall economic slowdown in Hong Kong[36] - The company has increased its procurement of construction materials from various suppliers to avoid shortages caused by production facility closures or transportation restrictions[35] - The company has taken measures to ensure employee safety, including mandatory testing for unvaccinated workers and daily temperature checks[35] - The company has arranged for remote access to laptops for employees working from home during the pandemic[35] - The company continues to monitor the COVID-19 situation and provide updates to its employees[35] - The company has established communication protocols with employees who test positive for COVID-19 to ensure safety in the workplace[35] Corporate Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2021[52] - The company has adopted a code of conduct regarding securities trading by directors, with no violations reported during the period[48] - There were no known conflicts of interest or competitive businesses held by directors or major shareholders as of December 31, 2021[45] - The company has maintained compliance with the corporate governance code as per GEM listing rules[47] - The roles of the chairman and CEO are currently held by the same individual, which the board believes enhances strategic efficiency[47] - No significant new products, technologies, market expansions, or acquisitions were reported during the period[50]

Financial Performance - The company reported revenue of HKD 128,673,000 for the six months ended September 30, 2021, an increase of 4% compared to HKD 123,277,000 for the same period in 2020[6] - Gross profit for the six months was HKD 18,546,000, up 39% from HKD 13,318,000 in the previous year[6] - The net profit for the six months was HKD 8,289,000, representing a 47% increase from HKD 5,615,000 in the same period last year[6] - Basic earnings per share increased to HKD 1.04 from HKD 0.70, reflecting a growth of 49%[6] - For the six months ended September 30, 2021, the company reported a profit of HKD 8,289,000, compared to HKD 5,615,000 for the same period in 2020, representing a year-over-year increase of 47.5%[29] - The profit attributable to the owners of the company increased by approximately HKD 2.7 million or 48.2% to approximately HKD 8.3 million for the six months ended September 30, 2021, compared to approximately HKD 5.6 million for the same period in 2020[66] Assets and Liabilities - The total assets as of September 30, 2021, were HKD 263,374,000, compared to HKD 260,866,000 as of March 31, 2021[8] - The company's cash and cash equivalents decreased to HKD 18,526,000 from HKD 33,318,000 at the beginning of the period[12] - Trade receivables decreased from HKD 42,704,000 to HKD 32,920,000, a decline of approximately 23%[31] - Contract assets increased from HKD 132,598,000 to HKD 147,503,000, representing an increase of about 11%[34] - Total trade and other receivables rose to HKD 82,526,000 from HKD 80,095,000, an increase of approximately 3%[31] - Bank borrowings increased from HKD 40,660,000 to HKD 51,562,000, an increase of approximately 27%[41] - Total trade and other payables decreased from HKD 91,556,000 to HKD 74,497,000, a decline of approximately 19%[38] - The current ratio improved from approximately 1.9 times as of March 31, 2021, to approximately 2.0 times as of September 30, 2021[67] - Bank borrowings increased to approximately HKD 51.6 million as of September 30, 2021, up from approximately HKD 40.7 million as of March 31, 2021[67] - The debt-to-equity ratio rose from approximately 31.9% as of March 31, 2021, to approximately 38.5% as of September 30, 2021[67] Dividends - The company declared a dividend of HKD 2,000,000 during the period[9] - The company declared a final dividend of HKD 0.25 per share for the year ended March 31, 2021, totaling HKD 2,000,000, consistent with the previous year's dividend[27] - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2021, compared to no interim dividend declared in the previous year[28] - The company did not declare any interim dividend for the six months ended September 30, 2021, compared to no dividend in the same period of 2020[94] Expenses - Total employee costs for the six months ended September 30, 2021, amounted to HKD 9,463,000, up from HKD 8,240,000 in the previous year, reflecting a 14.9% increase[24] - Administrative expenses increased by approximately HKD 1.1 million or 18.3%, from approximately HKD 6.0 million to approximately HKD 7.1 million, primarily due to the end of a temporary salary reduction for two executive directors[62] - Financing costs rose by approximately HKD 0.1 million or 10.0%, from approximately HKD 1.0 million to approximately HKD 1.1 million, mainly due to increased use of loans for trade payables and factoring[63] - Income tax expenses increased by approximately HKD 0.3 million or 25.0%, from approximately HKD 1.2 million to approximately HKD 1.5 million, attributed to an increase in profit before tax from approximately HKD 6.8 million to approximately HKD 9.8 million[64] Operational Highlights - The group secured 9 new projects with a total contract value of approximately HKD 78.9 million during the six months ended September 30, 2021[54] - The group maintained stable cost of sales at approximately HKD 110.1 million and HKD 110.0 million for the respective periods[57] - The group has implemented various measures to mitigate the impact of the COVID-19 pandemic on its operations, including emergency planning and securing alternative suppliers[51] - The group continues to explore business and investment opportunities to enhance revenue sources, including potential acquisitions and diversification[54] - The group reported no significant delays or work stoppages in projects due to the pandemic, indicating resilience in its operations[54] Governance and Compliance - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the period[21] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021[97] - The company has adopted a code of conduct for directors' securities transactions, with no violations reported during the period[93] - There were no known conflicts of interest or competitive businesses held by directors or major shareholders as of September 30, 2021[89] - The company has maintained compliance with the corporate governance code as per GEM listing rules[91] - The roles of the chairman and CEO are currently held by the same individual, which the board believes enhances strategic efficiency[91] Share Capital and Ownership - The issued share capital of the company was HKD 8,000,000, with 800,000,000 ordinary shares in issue as of September 30, 2021[71] - As of September 30, 2021, Sharp Talen and Diamondfield each hold 533,000,000 shares, representing a 66.6% beneficial ownership in the company[86] - No share options were granted during the relevant period, and there were no unexercised share options as of September 30, 2021[95] - The company and its subsidiaries did not purchase, sell, or redeem any of its listed securities during the period ended September 30, 2021[90] Management and Personnel - The company’s major management personnel compensation totaled HKD 2,214,000 for the six months ended September 30, 2021, compared to HKD 1,620,000 in the previous year, an increase of approximately 36%[47] - The company assesses the credit quality of potential customers before accepting them, with most overdue but unimpaired trade receivables being of good credit quality[31] - The company has no significant contingent liabilities as of September 30, 2021[76] - The company had no significant acquisitions or disposals of subsidiaries or associates during the six months ended September 30, 2021[75]

Financial Performance - The Group reported revenue of HKD 67,639,000 for the three months ended June 30, 2021, representing a 32.2% increase from HKD 51,157,000 in the same period of 2020[5]. - Gross profit for the same period was HKD 9,502,000, up 77.5% from HKD 5,359,000 year-on-year[5]. - The Group's profit before tax increased to HKD 4,931,000, a 76.2% rise compared to HKD 2,796,000 in the previous year[5]. - Total comprehensive income for the period was HKD 4,238,000, compared to HKD 2,522,000 in the same quarter of 2020, marking a 67.8% increase[5]. - Basic earnings per share for the quarter were HKD 0.53, up from HKD 0.32 in the prior year, reflecting a 65.6% increase[5]. - The company's total revenue increased from approximately HKD 51.2 million for the three months ended June 30, 2020, to approximately HKD 67.6 million for the same period in 2021, representing an increase of about HKD 16.4 million or 32.0%[23]. - The net profit attributable to the company's owners increased from approximately HKD 2.5 million to approximately HKD 4.2 million, an increase of about HKD 1.7 million or 68.0%[32]. Expenses and Costs - The Group's administrative expenses increased to HKD 3,707,000 from HKD 3,213,000 in the same period last year, reflecting a 15.4% rise[5]. - The cost of sales rose from approximately HKD 45.8 million to approximately HKD 58.1 million, an increase of about HKD 12.3 million or 26.9%[24]. - Administrative expenses rose from approximately HKD 3.2 million to approximately HKD 3.7 million, an increase of about HKD 0.5 million or 15.6%[29]. - Financing costs remained relatively stable, with a slight increase to HKD 473,000 from HKD 467,000 year-on-year[5]. - The Group's income tax expense for the period was HKD 693,000, compared to HKD 274,000 in the previous year, indicating a significant increase due to higher profits[18]. - Income tax expenses increased from approximately HKD 0.3 million to approximately HKD 0.7 million, a rise of about HKD 0.4 million or 133.3%[31]. Shareholder Information - As of June 30, 2021, Sharp Talent and Diamondfield each hold 533,000,000 shares, representing a combined ownership of 66.6% of the company's issued share capital[42]. - Mr. Liang and Mr. Ho are recognized as concert parties, continuing their status as concert parties since the agreement dated November 11, 2016[42]. - The company did not recommend any interim dividend for the three months ended June 30, 2021[50]. - The Group did not declare an interim dividend for the three months ended June 30, 2021, consistent with the previous year[19]. - No share options were granted during the review period, and there were no unexercised share options as of June 30, 2021[51]. Corporate Governance - The company has established an audit committee to oversee the appointment and independence of external auditors, consisting of three independent non-executive directors[52]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2021[54]. - The company has complied with the corporate governance code as per GEM Listing Rules, with the roles of chairman and CEO currently held by Mr. Liang[47]. - No directors or major shareholders have any competing businesses or interests that conflict with the company's operations as of June 30, 2021[45]. - The company has not disclosed any interests or short positions in shares or related securities by any directors or senior management as of June 30, 2021[43]. Operational Insights - The company anticipates that the number of properties to be constructed and maintained in Hong Kong will remain a key driver for the growth of the RMAA and renovation industry[35]. - The company has implemented action plans to mitigate supply chain disruptions caused by the pandemic, including close communication with material suppliers and temperature checks for workers before entering construction sites[33]. - The management team believes that the company's experience and reputation will position it favorably against competitors in the industry[35]. - The company reported no financing costs for the periods ended June 30, 2020, and June 30, 2021, maintaining approximately HKD 0.5 million in financing costs[30]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the period ended June 30, 2021[46].

Financial Performance - Total revenue decreased by approximately HKD 122.3 million or 30.3% to approximately HKD 281.7 million for the year ended March 31, 2021, compared to approximately HKD 404.0 million for the previous year[7] - Profit attributable to the owners of the company increased by approximately HKD 1.9 million or 9.7% to approximately HKD 21.4 million for the year ended March 31, 2021, compared to approximately HKD 19.5 million for the previous year[7] - Revenue decreased from approximately HKD 404.0 million for the year ended March 31, 2020, to approximately HKD 281.7 million for the year ended March 31, 2021, a decline of about 30.3%[15] - Cost of sales decreased from approximately HKD 358.2 million to approximately HKD 242.2 million, a decline of about 32.4%[16] - Gross profit decreased from approximately HKD 45.8 million to approximately HKD 39.4 million, while the overall gross margin increased from approximately 11.3% to approximately 14.0%[17] - Other income increased from approximately HKD 150,000 to approximately HKD 2.3 million, primarily due to subsidies received under the Employment Support Scheme[18] - Administrative expenses decreased from approximately HKD 17.1 million to approximately HKD 12.5 million, a reduction of about 26.9%[20] - Financing costs decreased from approximately HKD 2.4 million to approximately HKD 1.9 million, a decline of about 20.8%[21] - Income tax expenses decreased from approximately HKD 4.1 million to approximately HKD 3.6 million, a reduction of about 12.2%[22] - Current ratio improved from approximately 1.7 times to approximately 1.9 times[24] Project Management and Business Development - The company secured 60 projects generating revenue for the year ended March 31, 2021, compared to 44 projects in the previous year[12] - The company obtained 30 new projects with a total original contract value of approximately HKD 340.6 million for the year ended March 31, 2021, compared to 22 projects with a value of approximately HKD 294.7 million in the previous year[12] - The company focuses on project management, procurement, and quality control of works executed by employees and subcontractors[11] - The company remains cautiously optimistic about the overall business outlook despite the pressures from the COVID-19 pandemic[8] - The company plans to continue providing integrated services in maintenance, renovation, and site preparation to leverage its competitive advantages[8] Corporate Governance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the fiscal year ending March 31, 2021[38] - The board consists of five members, including two executive directors and three independent non-executive directors[40] - The chairman and CEO roles are currently held by Mr. Leung Ka Ho, which the board believes enhances strategic efficiency[46] - The board has held four meetings during the fiscal year, with all directors attending each meeting[52] - The company has implemented a board diversity policy, considering various measurable aspects such as gender, age, and professional experience[48] - The nomination committee reviews the board composition annually to ensure the effectiveness of the diversity policy[50] - The company has established a code of conduct for directors' securities transactions, adhering to GEM Listing Rules standards[39] - The board is responsible for maintaining high levels of corporate governance, including policy formulation and compliance monitoring[44] - All directors have access to the company secretary's advice and services to ensure compliance with procedures and applicable regulations[55] - The board will review the need to appoint a suitable candidate for the CEO role if necessary[46] Risk Management and Internal Control - The company has a structured approach to risk management and internal control systems, ensuring effective oversight by the Audit Committee[66] - The company has established a risk management and internal control framework aimed at identifying and managing risks at an acceptable safety level[78] - The company has implemented a three-tier risk management approach to identify, analyze, assess, mitigate, and respond to risks[78] - The Audit Committee is responsible for reviewing the integrity of the company's financial reports, including accounting policies and significant judgments[63] - The group’s internal controls for recognizing contract revenue were evaluated and found to be significant for the financial statements[191] Environmental and Social Responsibility - The total greenhouse gas emissions for the year ended March 31, 2021, were 73 tons, a decrease of 17% from 88 tons in 2020[95] - The total construction and demolition waste generated was 4,975 tons, down 37% from 7,994 tons in 2020[95] - The total electricity consumption was 38,844 kWh, a reduction of 25% compared to 52,112 kWh in 2020[97] - The company has achieved ISO 14001 certification for its environmental management system, demonstrating its commitment to minimizing environmental impact[98] - The company has implemented measures to reduce resource consumption, including encouraging employees to turn off lights and appliances when not in use[96] - The group actively participates in community investment through charitable donations and support for education and environmental protection activities[116] Employee Management and Development - The employee turnover rate decreased to 2% in 2021 from 10% in 2020, indicating improved employee retention[101] - The company employed 54 staff members in 2021, an increase from 52 in 2020, with a gender distribution of 43% female and 57% male[100] - The total training hours for employees in 2021 were 625, with 67 hours for female employees and 558 hours for male employees, showing a focus on employee development[109] - The group emphasizes the importance of employee development by allocating sufficient resources for training and encouraging participation in both internal and external training programs[108] Compliance and Legal Matters - The company has confirmed compliance with the minimum public float requirements as per GEM listing rules[181] - The company did not enter into any related party transactions that were not exempt under GEM listing rules during the fiscal year[180] - There are no significant transactions or contracts involving directors or their related entities that could pose a conflict of interest[172] - The company has complied with relevant laws and regulations that significantly impact its business and operations[141] Shareholder Information - The company proposed a final dividend of HKD 0.25 per share, totaling HKD 2.0 million, subject to shareholder approval at the upcoming annual general meeting[148] - The company’s board of directors considers cash position and overall business conditions when determining dividend payments[149] - As of March 31, 2021, the company's distributable reserves amounted to approximately HKD 23.4 million, a decrease from HKD 26.9 million in 2020[162] - The largest customer contributed 16.7% of total revenue, while the top five customers combined accounted for 56.4%[164] - The largest supplier represented 18.1% of the cost of sales, with the top five suppliers together making up 43.5%[164] Audit and Financial Reporting - The company’s financial statements were audited for the year ended March 31, 2021[6] - The external auditor's fees for statutory audit services amounted to HKD 1,100,000 for 2021, a decrease from HKD 1,150,000 in 2020[80] - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, reflecting a true and fair view of the group's financial position[186] - The auditor assessed the qualifications, capabilities, and objectivity of the valuation expert[193] Corporate Structure and Changes - The company has undergone a corporate restructuring to prepare for its listing on the GEM, which was completed on November 11, 2016[139] - The company primarily engages in investment holding, with no significant changes in the nature of its main business during the year[140] - The company has established a stock option plan for directors and employees as part of its compensation strategy[171] - The initial term for independent non-executive directors is three years, subject to renewal unless terminated with a six-month notice[167]