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]

Financial Performance - The company's revenue for the nine months ended December 31, 2020, was HKD 197,325,000, a decrease of 38.1% compared to HKD 319,006,000 for the same period in 2019[4] - Gross profit for the nine months was HKD 24,915,000, down 30.5% from HKD 35,814,000 in the previous year[4] - The net profit for the nine months was HKD 12,810,000, representing a decline of 24.8% from HKD 17,006,000 in 2019[4] - Basic earnings per share for the nine months was HKD 1.61, down from HKD 2.13 in the same period last year, a decrease of 24.4%[4] - Revenue decreased from approximately HKD 319.0 million for the nine months ended December 31, 2019, to approximately HKD 197.3 million for the nine months ended December 31, 2020, a decline of about 38.2%[22] - Gross profit decreased from approximately HKD 35.8 million for the nine months ended December 31, 2019, to approximately HKD 24.9 million for the nine months ended December 31, 2020, while the overall gross margin increased from approximately 11.2% to approximately 12.6%[24] - Profit attributable to owners decreased from approximately HKD 17.0 million for the nine months ended December 31, 2019, to approximately HKD 12.8 million for the nine months ended December 31, 2020, a decline of about 24.7%[31] Expenses and Costs - The company reported a financing cost of HKD 1,449,000 for the nine months, down from HKD 1,775,000 in the previous year, a reduction of 18.4%[4] - Administrative expenses for the nine months were HKD 8,884,000, a decrease of 26.1% compared to HKD 12,062,000 in 2019[4] - Cost of sales decreased from approximately HKD 283.2 million for the nine months ended December 31, 2019, to approximately HKD 172.4 million for the nine months ended December 31, 2020, a decline of about 39.1%[23] - Administrative expenses decreased by approximately HKD 3.2 million or 26.4% from approximately HKD 12.1 million for the nine months ended December 31, 2019, to approximately HKD 8.9 million for the nine months ended December 31, 2020[27] - Financing costs decreased from approximately HKD 1.8 million for the nine months ended December 31, 2019, to approximately HKD 1.4 million for the nine months ended December 31, 2020, a decrease of about 22.2%[28] - Income tax expense decreased from approximately HKD 3.5 million for the nine months ended December 31, 2019, to approximately HKD 2.2 million for the nine months ended December 31, 2020, a decrease of about 37.1%[29] Equity and Dividends - The total equity as of December 31, 2020, was HKD 118,869,000, an increase from HKD 105,551,000 as of December 31, 2019[6] - The company declared dividends of HKD 2,000,000 during the period, reducing the retained earnings[6] - The company did not recommend any interim dividend for the nine months ended December 31, 2020[46] Corporate Governance - The audit committee has been established in accordance with the corporate governance code and GEM listing rules, consisting of three independent non-executive directors[49] - The audit committee is responsible for reviewing the independence and objectivity of external auditors and overseeing the effectiveness of the audit process[49] - The audit committee has reviewed the unaudited consolidated financial statements for the nine months ended December 31, 2020[49] Industry Outlook and Operations - The company operates primarily in the building maintenance and construction services sector in Hong Kong[9] - The company anticipates that the construction industry and RMAA sector growth will be adversely affected and slow down due to the pandemic[32] - The company has implemented action plans to mitigate supply chain disruptions, including close communication with suppliers and temperature checks for workers before entering construction sites[34] Shareholding Structure - As of December 31, 2020, both Mr. Liang and Mr. Ho hold 533,000,000 shares, representing 66.6% of the company's total shares[35] - Mr. Liang's shares include 363,410,000 shares held by his wholly-owned company Sharp Talent and 169,590,000 shares due to his acting in concert with Mr. Ho[39] - Mr. Ho's shares include 169,590,000 shares held by his wholly-owned company Diamondfield and 363,410,000 shares due to his acting in concert with Mr. Liang[39] Other Information - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and have not been reviewed by the company's auditors[11] - No share options were granted during the period, and there were no unexercised share options as of December 31, 2020[48]

Financial Performance - The company's revenue for the six months ended September 30, 2020, was HKD 123,277,000, a decrease of 38.2% compared to HKD 199,374,000 for the same period in 2019[6] - Gross profit for the same period was HKD 13,318,000, down 37.5% from HKD 21,353,000 in 2019[6] - The net profit for the six months was HKD 5,615,000, representing a decline of 38.5% from HKD 9,218,000 in the previous year[6] - Basic earnings per share decreased to HKD 0.70 from HKD 1.15, a drop of 39.1% year-over-year[6] - The company reported a total revenue of HKD 8,240,000 for the six months ended September 30, 2020, compared to HKD 10,923,000 for the same period in 2019, representing a decrease of approximately 24.5%[24] - The pre-tax profit for the six months ended September 30, 2020, was HKD 5,615,000, down from HKD 9,218,000 in the same period of 2019, indicating a decline of about 39.5%[29] - The total employee costs for the six months ended September 30, 2020, amounted to HKD 8,240,000, a decrease of approximately 24.5% from HKD 10,923,000 in the same period of 2019[24] - The company’s net profit attributable to owners decreased by approximately HKD 3.6 million or 39.1% to about HKD 5.6 million for the six months ended September 30, 2020[63] Assets and Liabilities - Total assets as of September 30, 2020, were HKD 111,722,000, compared to HKD 108,250,000 as of March 31, 2020, reflecting a slight increase of 4.5%[8] - The company's cash and cash equivalents decreased to HKD 18,530,000 from HKD 41,788,000, a decline of 55.7%[12] - Trade and other receivables increased significantly to HKD 80,927,000 from HKD 45,525,000, a rise of 77.8%[8] - Trade receivables increased to HKD 39,625,000 as of September 30, 2020, from HKD 20,565,000 as of March 31, 2020, representing an increase of 92.6%[31] - Total contract assets decreased to HKD 130,459,000 as of September 30, 2020, from HKD 138,094,000 as of March 31, 2020, a decline of 5.9%[34] - Trade and other payables rose to HKD 87,803,000 as of September 30, 2020, compared to HKD 80,276,000 as of March 31, 2020, an increase of 9.4%[36] - Bank borrowings amounted to HKD 40,045,000 as of September 30, 2020, down from HKD 53,187,000 as of March 31, 2020, a decrease of 24.6%[39] Cash Flow and Dividends - Operating cash flow for the six months was negative HKD 9,071,000, an improvement from negative HKD 12,113,000 in the same period last year[12] - The company declared a dividend of HKD 2,000,000 during the period, impacting retained earnings[9] - The company declared a final dividend of HKD 0.25 per share for the year ended March 31, 2020, totaling HKD 2,000,000, compared to no dividend declared for the previous year[28] - The company has not recommended an interim dividend for the six months ended September 30, 2020, compared to HKD 4,000,000 declared in the previous year[28] - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2020, compared to HKD 4,000,000 in 2019[93] Expenses and Costs - The company reported a financing cost of HKD 956,000, down from HKD 1,150,000, indicating a reduction of 16.9%[6] - Administrative expenses decreased by approximately HKD 1.7 million or 22.1% to about HKD 6.0 million for the six months ended September 30, 2020, primarily due to a temporary salary reduction for two executive directors[59] - Financing costs decreased by approximately HKD 0.2 million or 16.7% to about HKD 1.0 million for the six months ended September 30, 2020[61] - The company incurred a tax expense of HKD 1,224,000 for the six months ended September 30, 2020, compared to HKD 1,889,000 for the same period in 2019, reflecting a decrease of about 35.2%[25] - The company reported a total of HKD 3,986,000 in director remuneration for the six months ended September 30, 2020, compared to HKD 5,574,000 in the same period of 2019, a decrease of about 28.5%[24] - The company’s management compensation for the six months ended September 30, 2020, was HKD 1,620,000, down from HKD 2,544,000 for the same period in 2019, a decrease of 36.3%[46] Operational Insights - The company operates solely in the building renovation and engineering services sector, with no further segment analysis provided due to the single operating segment[22] - The company secured 12 new projects with a total contract value of approximately HKD 159.8 million during the six months ended September 30, 2020[52] - The company plans to continue strengthening its market position and expanding market share in the RMAA and renovation industry in Hong Kong[52] Shareholder Information - As of September 30, 2020, the company's issued share capital was HKD 8,000,000, with 800,000,000 ordinary shares outstanding, each with a par value of HKD 0.01[68] - The major shareholders, Sharp Talent and Diamondfield, each hold 533,000,000 shares, representing approximately 66.6% of the company's issued share capital[80] Compliance and Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2020[96] - 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 group had no capital commitments as of September 30, 2020, consistent with the previous period[70] - There were no significant acquisitions or disposals of subsidiaries or associated companies during the six months ending September 30, 2020[73] - The group has no significant contingent liabilities as of September 30, 2020, apart from those disclosed in the unaudited condensed consolidated financial statements[75] - The group operates primarily in Hong Kong dollars, and the board believes that foreign exchange risk is minimal[76] Employment and Workforce - The group employed a total of 52 employees as of September 30, 2020, unchanged from the previous period[78] - Employee costs for the six months ending September 30, 2020, were approximately HKD 8.2 million, a decrease from HKD 10.9 million for the same period in 2019[78] Other Financial Information - The effective interest rate for bank borrowings ranged from 4.0% to 5.5% as of September 30, 2020[41] - The company has a retention period of 5% to 10% on contract values, which impacts the timing of cash flows[35] - The total amount of other receivables increased to HKD 17,849,000 as of September 30, 2020, from HKD 13,249,000 as of March 31, 2020, an increase of 34.5%[31] - The current ratio increased from approximately 1.7 times as of March 31, 2020, to approximately 1.8 times as of September 30, 2020[65] - Total bank borrowings decreased to approximately HKD 40.0 million as of September 30, 2020, from approximately HKD 53.2 million as of March 31, 2020[65] - Other income increased from approximately HKD 65,000 to about HKD 2.2 million, mainly due to subsidies received under the employment support scheme[57] - No share options were granted during the relevant period, and there were no unexercised share options as of September 30, 2020[94] - The group had approximately HKD 10.0 million in bank deposits pledged to banks as collateral for short-term bank loans and other general banking facilities as of September 30, 2020[77]

Financial Performance - The company's revenue for the first quarter of 2020 was HKD 51,157,000, a decrease of 44.7% compared to HKD 92,404,000 in the same period of 2019[6] - Gross profit for the first quarter of 2020 was HKD 5,359,000, down 38.5% from HKD 8,679,000 in the first quarter of 2019[6] - The company's profit before tax for the first quarter of 2020 was HKD 2,796,000, a decline of 30.8% compared to HKD 4,045,000 in the same period of 2019[6] - The total comprehensive income for the period was HKD 2,522,000, down 24.0% from HKD 3,315,000 in the first quarter of 2019[6] - Basic earnings per share for the first quarter of 2020 were HKD 0.32, compared to HKD 0.41 in the same period of 2019, representing a decrease of 22.0%[6] - The total revenue of the group decreased from approximately HKD 92.4 million for the three months ended June 30, 2019, to approximately HKD 51.2 million for the three months ended June 30, 2020, a decrease of approximately HKD 41.2 million or 44.6%[24] - Gross profit decreased from approximately HKD 8.7 million for the three months ended June 30, 2019, to approximately HKD 5.4 million for the three months ended June 30, 2020, a decrease of approximately HKD 3.3 million or 37.9%[26] - The profit attributable to owners of the company decreased from approximately HKD 3.3 million for the three months ended June 30, 2019, to approximately HKD 2.5 million for the three months ended June 30, 2020, a decrease of approximately HKD 0.8 million or 24.2%[33] Expenses and Income - The company's administrative expenses for the first quarter of 2020 were HKD 3,213,000, a slight decrease from HKD 3,673,000 in the first quarter of 2019[6] - The cost of sales decreased from approximately HKD 83.7 million for the three months ended June 30, 2019, to approximately HKD 45.8 million for the three months ended June 30, 2020, a decrease of approximately HKD 37.9 million or 45.3%[25] - Other income increased from approximately HKD 32,000 for the three months ended June 30, 2019, to approximately HKD 1.1 million for the three months ended June 30, 2020[28] - Administrative expenses decreased from approximately HKD 3.7 million for the three months ended June 30, 2019, to approximately HKD 3.2 million for the three months ended June 30, 2020, a decrease of approximately HKD 0.5 million or 13.5%[30] - The company reported other income of HKD 1,117,000 for the first quarter of 2020, significantly higher than HKD 32,000 in the same period of 2019[6] Dividends and Shareholder Information - The company did not recommend any interim dividend for the period ending June 30, 2020, consistent with no dividend declared in the same period of 2019[19] - No dividends were proposed for the three months ending June 30, 2020[49] - Major shareholders, Mr. Liang and Mr. Ho, each hold 533,000,000 shares, representing 66.6% of the company's total issued shares[38] - Both Mr. Liang and Mr. Ho are recognized as beneficial owners of their respective companies, Sharp Talent and Diamondfield, which also hold 100% of their shares[39] Compliance and Governance - The company has adopted a code of conduct for directors' securities trading, compliant with GEM Listing Rules[48] - The company has maintained compliance with the corporate governance code as per GEM Listing Rules[46] - There were no known conflicts of interest or competitive businesses held by directors or major shareholders as of June 30, 2020[44] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ending June 30, 2020[53] - The company’s chairman and CEO roles are held by Mr. Liang, with a review of this structure planned as necessary[46] Market Outlook and Strategy - The group anticipates that the construction industry and RMAA sector growth will be adversely affected and slow down due to the pandemic and related quarantine policies[34] - The group has developed several action plans, including close communication with construction material suppliers and temperature checks for workers before entering construction sites[34] - The board believes 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[36] - The group aims to consolidate its market position and expand its market share despite challenges faced in the industry[36] Financing and Securities - The company's financing costs decreased to HKD 467,000 in the first quarter of 2020 from HKD 545,000 in the same period of 2019[6] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[45] - There were no stock options granted during the review period, and no unexercised stock options remained as of June 30, 2020[50]

Financial Performance - Total revenue increased from approximately HKD 277.6 million for the year ended March 31, 2019, to approximately HKD 404.0 million for the year ended March 31, 2020, representing a growth of about 45.5%[7] - Profit attributable to owners of the company rose from approximately HKD 18.2 million for the year ended March 31, 2019, to approximately HKD 19.5 million for the year ended March 31, 2020, an increase of about 7.1%[7] - The cost of sales increased from approximately HKD 238.1 million for the year ended March 31, 2019, to approximately HKD 358.2 million for the year ended March 31, 2020, representing an increase of about 50.4%[14] - Gross profit rose from approximately HKD 39.5 million to approximately HKD 45.8 million, but the overall gross margin decreased from about 14.2% to approximately 11.3% due to lower project gross margins[16] - Administrative expenses increased by approximately HKD 4.4 million or 34.6% from about HKD 12.7 million to approximately HKD 17.1 million, primarily due to business expansion and compliance costs[18] - Financing costs rose from approximately HKD 1.7 million to about HKD 2.4 million, an increase of 41.2%, mainly due to increased use of loans for trade payables and factoring[19] - Income tax expenses increased by approximately HKD 0.2 million or 5.1% from about HKD 3.9 million to approximately HKD 4.1 million, attributed to an increase in profit before tax from about HKD 22.1 million to approximately HKD 23.6 million[20] - The current ratio remained stable at approximately 1.7 times as of March 31, 2019, and March 31, 2020, with bank borrowings increasing from approximately HKD 44.6 million to about HKD 53.2 million[24] - The company's distributable reserves as of March 31, 2020, amounted to approximately HKD 26.9 million, a decrease from HKD 32.5 million in 2019[168] Project Acquisition and Management - The company secured 22 new projects with a total original contract value of approximately HKD 294.7 million for the year ended March 31, 2020, compared to 18 projects with a value of approximately HKD 265.8 million in the previous year[11] - The company completed three projects for international luxury brands with a total original contract value of approximately HKD 88.3 million during the fiscal year ended March 31, 2020[13] - The company aims to strengthen its market position and expand its market share by securing more contracts in maintenance, renovation, and extension works[12] - The impact of the COVID-19 pandemic and social unrest in Hong Kong has led to increased operational costs and uncertainty in new project acquisitions[11] COVID-19 Response - The management team has temporarily reduced their salaries by 30% starting from April 1, 2020, in response to the challenges posed by the COVID-19 pandemic[12] - The company will continue to monitor the developments of the COVID-19 pandemic and actively respond to its impacts on business operations[12] - The company has implemented action plans to mitigate the impact of COVID-19, including close communication with suppliers and temperature checks for workers before entering construction sites[193] - The board of directors is actively assessing and responding to the effects of the pandemic on the company's financial condition[193] - The financial performance of the company is expected to be impacted by uncertainties in the supply of construction materials and a decline in residential renovation demand due to COVID-19[193] Environmental Impact - For the year ended March 31, 2020, total greenhouse gas emissions amounted to 88 tons, a decrease of 21.4% from 112 tons in 2019[100] - The total construction and demolition waste generated was 7,994 tons, an increase of 22.4% from 6,533 tons in 2019[100] - Total electricity consumption was 52,112 kWh, down 31% from 75,606 kWh in 2019[102] - The company has implemented measures to reduce environmental impact, including using ultra-low sulfur diesel and noise emission labeled equipment[99] - The company has committed to environmental sustainability by implementing green office practices and minimizing operational impacts on the environment[152] Corporate Governance - The board of directors is responsible for corporate governance functions, including the formulation and review of governance policies and compliance with legal regulations[58] - The audit committee consists of three independent non-executive directors, ensuring compliance with GEM listing rules and monitoring the integrity of financial reports[65] - The company has established four board committees: Audit Committee, Remuneration Committee, Nomination Committee, and Safety Compliance Committee[64] - The company emphasizes the importance of continuous professional development for all directors[63] - The company has established a risk management framework to identify and manage risks at an acceptable level to achieve strategic goals[83] Employee and Workforce Management - The company employed 52 staff as of March 31, 2020, compared to 40 staff in the previous year, with total employee costs around HKD 23.1 million[35] - Employee headcount increased from 40 in 2019 to 52 in 2020, representing a 30% growth[105] - Female employees accounted for 40% of the workforce in 2020, up from 35% in 2019[105] - Employee turnover rate significantly decreased from 38% in 2019 to 10% in 2020[106] - Total training hours for employees rose from 522 in 2019 to 725 in 2020, an increase of approximately 39%[117] Safety and Compliance - The company has maintained compliance with OHSAS 18001 standards since 2011, ensuring high safety management standards[113] - No significant health and safety non-compliance cases were reported for the year ending March 31, 2020[114] - The company has established a safety compliance committee to review safety policies and promote health awareness[109] Shareholder Information - The company reported a mid-term dividend of HKD 0.5 per share, totaling HKD 4.0 million, and proposed a final dividend of HKD 0.25 per share, amounting to approximately HKD 2.0 million[154] - The annual general meeting is scheduled for August 13, 2020, with a suspension of share transfer registration from August 10 to August 13, 2020[158] - The company’s board of directors will consider cash position and overall business conditions when declaring dividends[155] Risk Management - The company emphasizes the importance of risk management practices to mitigate operational and financial risks, including low profit margins and reliance on subcontractors[149] - The company has implemented a three-tier risk management approach to effectively identify, assess, and respond to risks[83]

（於開曼群島註冊成立的有限公司） 股份代號：8423 2019 第三季度業績報告 Chi Ho Development Holdings Limited THIRD QUARTERLY REPORT 2019 (Incorporated in the Cayman Islands with limited liability) Stock Code: 8423 香港聯合交易所有限公司（「聯交所」）GEM（「GEM」）的特色 GEM的定位乃為相比起聯交所上市的其他公司帶有更高投資風險的公司提供上 市的市場。有意投資者應了解投資於此類公司的潛在風險，並應經審慎周詳考慮 後方作出投資決定。GEM的較高風險及其他特色，表示GEM較適合專業及其他 經驗豐富的投資者。由於GEM上市公司的新興性質使然，在GEM買賣的證券可 能會承受較於聯交所主板買賣的證券為高的市場波動風險，同時亦無法保證在 GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本報告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 本 ...

Financial Performance - The company reported revenue of HKD 199,374,000 for the six months ended September 30, 2019, representing a 40% increase compared to HKD 142,682,000 for the same period in 2018[6]. - Gross profit for the six months was HKD 21,353,000, up 36% from HKD 15,716,000 in the previous year[6]. - The net profit for the period was HKD 9,218,000, which is a 31% increase from HKD 7,028,000 in the same period last year[6]. - Basic earnings per share increased to HKD 1.15, compared to HKD 0.88 for the same period in 2018, reflecting a 30% growth[6]. - Revenue increased from approximately HKD 142.7 million for the six months ended September 30, 2018, to approximately HKD 199.4 million for the six months ended September 30, 2019, representing a growth of about 39.7%[55]. - Profit attributable to owners increased by approximately HKD 2.2 million or 31.4% to about HKD 9.2 million[64]. Assets and Liabilities - Total assets as of September 30, 2019, were HKD 286,864,000, up from HKD 191,515,000 as of March 31, 2019[8]. - Trade and other receivables rose significantly to HKD 102,563,000 from HKD 40,757,000, indicating improved collection efficiency[8]. - Trade receivables increased to HKD 64,204,000 as of September 30, 2019, from HKD 17,494,000 as of March 31, 2019, representing a growth of 267%[30]. - Total trade and other receivables reached HKD 102,563,000 as of September 30, 2019, compared to HKD 40,757,000 as of March 31, 2019, indicating a 152% increase[30]. - Contract assets amounted to HKD 132,751,000 as of September 30, 2019, up from HKD 107,416,000 as of March 31, 2019, reflecting a growth of 23%[34]. - Trade payables rose to HKD 38,050,000 as of September 30, 2019, from HKD 12,841,000 as of March 31, 2019, marking an increase of 196%[37]. - Total bank borrowings increased to HKD 66,638,000 as of September 30, 2019, compared to HKD 44,600,000 as of March 31, 2019, representing a growth of 49%[40]. Cash Flow and Financing - The company's cash and cash equivalents increased to HKD 41,550,000 from HKD 29,411,000 at the beginning of the period[12]. - The company reported a net cash inflow from financing activities of HKD 20,756,000, compared to an outflow of HKD 5,663,000 in the previous year[12]. - The company incurred a tax expense of HKD 1,889,000 for the six months ended September 30, 2019, compared to HKD 1,249,000 in the same period of 2018, indicating a significant increase of approximately 51.3%[25]. - The actual interest rate for bank borrowings ranged from 2.0% to 5.6% as of September 30, 2019[42]. Dividends and Share Capital - The company declared an interim dividend of HKD 0.005 per share, totaling HKD 4,000,000, compared to no dividend in the same period last year[27]. - The company’s issued share capital was HKD 8,000,000 with 800,000,000 shares outstanding as of September 30, 2019[69]. - The average number of ordinary shares for calculating basic earnings per share remained constant at 800,000 for both periods under review[28]. Employee and Operational Costs - The total employee costs for the six months ended September 30, 2019, amounted to HKD 10,923,000, an increase from HKD 10,468,000 in the previous year, reflecting a rise of about 4.3%[24]. - Administrative expenses increased by approximately HKD 1.1 million or 16.7% to about HKD 7.7 million due to business expansion and increased employee costs[60]. - The employee cost for the six months ended September 30, 2019, was approximately HKD 10.9 million, compared to HKD 10.5 million for the same period in 2018, reflecting a year-on-year increase of about 3.8%[79]. Corporate Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2019[104]. - The company has complied with the corporate governance code as of September 30, 2019, with no known conflicts of interest among directors[97]. - There were no known interests or short positions in the company's shares or related securities, aside from those disclosed[93]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[6]. - The group has not made any significant acquisitions or disposals of subsidiaries or associates during the six months ended September 30, 2019[74]. - The group believes that foreign exchange risk is very low as its revenue-generating operations are primarily conducted in Hong Kong dollars[77].

Financial Performance - Revenue for the first quarter of 2019 was HKD 92,404,000, representing a 26.2% increase from HKD 73,216,000 in the same period of 2018[5] - Gross profit for the first quarter was HKD 8,679,000, up 24.5% from HKD 6,968,000 year-on-year[5] - Profit before tax increased to HKD 4,045,000, a rise of 10.2% compared to HKD 3,671,000 in the previous year[5] - Net profit for the period was HKD 3,315,000, reflecting an increase of 7.3% from HKD 3,089,000 in the first quarter of 2018[5] - Basic earnings per share for the first quarter were HKD 0.41, compared to HKD 0.39 in the same quarter last year, marking a 5.1% increase[5] Expenses - Administrative expenses rose to HKD 3,673,000, up 25.2% from HKD 2,933,000 in the previous year[5] - Financing costs increased to HKD 545,000, a 42.7% rise from HKD 382,000 in the same period of 2018[5] - The group's cost of sales rose from approximately HKD 66.2 million to approximately HKD 83.7 million, an increase of approximately HKD 17.5 million or 26.4%, primarily due to increased subcontracting costs resulting from higher revenue[24] - Administrative expenses increased from approximately HKD 2.9 million to approximately HKD 3.7 million, an increase of approximately HKD 0.8 million or 27.6%, mainly due to business expansion and increased employee costs[28] - Financing costs rose from approximately HKD 0.4 million to approximately HKD 0.5 million, an increase of approximately HKD 0.1 million or 25.0%, attributed to higher bank borrowings[29] - Income tax expenses increased from approximately HKD 0.6 million to approximately HKD 0.7 million, an increase of approximately HKD 0.1 million or 16.7%, due to an increase in profit before tax[30] Shareholder Information - As of June 30, 2019, major shareholders Sharp Talen and Diamondfield each hold 533,000,000 shares, representing a combined ownership of 66.6% of the company's issued share capital[40] - The company did not declare an interim dividend for the period ending June 30, 2019[18] - The company did not declare any interim dividend for the three months ended June 30, 2019[50] Corporate Governance - The roles of the chairman and CEO are currently held by the same individual, which the board believes enhances strategic efficiency[47] - The company has complied with the applicable code provisions of the Corporate Governance Code as of June 30, 2019[47] - The company has established an audit committee to oversee the appointment and independence of external auditors[52] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2019[53] - There were no known conflicts of interest among directors or major shareholders as of June 30, 2019[43] Business Operations - The company operates primarily in the building renovation and engineering services sector in Hong Kong[9] - The company focuses on RMAA and renovation projects in Hong Kong, with future opportunities and challenges influenced by the property market and labor/material costs[33] - The company aims to leverage its experienced management team and industry reputation to maintain a competitive position in the market[33] - The company plans to utilize the net proceeds from its listing to strengthen its market position and expand its market share[33] Securities and Options - The company did not purchase, sell, or redeem any of its listed securities during the period ended June 30, 2019[45] - No share options were granted during the review period, and there were no unexercised share options as of June 30, 2019[51] - The company has adopted a share option scheme as of February 22, 2017, in accordance with GEM Listing Rules[51]