Financial Performance - Total revenue decreased by approximately HKD 167.9 million or 37.7% to about HKD 277.6 million for the year ended March 31, 2019, compared to approximately HKD 445.5 million for the previous year[9] - Profit attributable to the company's owners decreased by approximately HKD 4.9 million or 21.2% to about HKD 18.2 million for the year ended March 31, 2019, down from approximately HKD 23.1 million[9] - Revenue decreased from approximately HKD 445.5 million for the year ended March 31, 2018, to approximately HKD 277.6 million for the year ended March 31, 2019, a decline of about 37.7%[15] - Cost of sales decreased from approximately HKD 401.5 million to approximately HKD 238.1 million, a reduction of about 40.7%[16] - Gross profit decreased from approximately HKD 43.9 million to approximately HKD 39.5 million, with the overall gross margin increasing from approximately 9.9% to approximately 14.2%[18] - Profit attributable to owners of the company decreased from approximately HKD 23.1 million to approximately HKD 18.2 million, a decline of about 21.2%[23] - The company reported a low profit margin, making its financial performance highly sensitive to adverse changes in sales costs and market conditions in the Hong Kong RMAA and renovation industry[151] Business Outlook - The overall construction industry in Hong Kong is expected to maintain stable growth over the next few years despite challenges such as intense market competition and rising costs of labor and materials[10] - The company expresses cautious optimism regarding its overall business outlook despite various challenges[10] Operational Highlights - The group secured 24 new projects with a total contract value of approximately HKD 459.6 million as of the report date[13] - The current ratio remained stable at approximately 1.7 times as of March 31, 2019[25] - Bank borrowings increased to approximately HKD 44.6 million as of March 31, 2019, compared to HKD 42.8 million in the previous year[25] - Administrative expenses decreased by approximately HKD 0.4 million or 3.1% to approximately HKD 12.7 million for the year ended March 31, 2019[20] - Financing costs decreased by approximately HKD 0.1 million or 5.6% to approximately HKD 1.7 million for the year ended March 31, 2019[21] - The group has no significant plans for major investments or capital assets as of March 31, 2019[30] Governance and Compliance - The company has adopted a board diversity policy, considering various measurable aspects such as gender, age, and professional experience in board member selection[52] - The company has complied with all applicable corporate governance codes during the fiscal year ending March 31, 2019[43] - The board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a diverse governance structure[45] - The company emphasizes continuous professional development for directors, encouraging attendance at relevant seminars and training[63] - The company has established four board committees, including the audit committee, remuneration committee, nomination committee, and safety compliance committee[67] - The audit committee is responsible for reviewing the integrity of the company's annual reports, interim financial reports, and quarterly reports[69] - The remuneration committee is composed of three independent non-executive directors, ensuring oversight of the company's financial reporting and risk management systems[72] - The company has received annual independence confirmations from all independent non-executive directors, affirming their independence[62] Risk Management - The company has established a risk management and internal control framework aimed at identifying and managing risks at an acceptable safety level to achieve strategic goals[84] - The company emphasizes the importance of good risk management for long-term business development and has implemented appropriate procedures to safeguard assets[83] - The company emphasizes the importance of risk management practices to effectively mitigate operational and financial risks[150] - The company has a structured approach to risk management, involving multiple layers of oversight to ensure effective risk control[84] Environmental Impact - The company reported a total greenhouse gas emissions of 112 tons for the year ending March 31, 2019, down from 123 tons in the previous year, representing a decrease of approximately 8.94%[101] - The total construction and demolition waste generated was 6,533 tons for the year ending March 31, 2019, compared to 6,977 tons in the previous year, indicating a reduction of about 6.36%[101] - The company achieved a nitrogen oxide emission of 14.12 kg in 2019, a decrease from 14.68 kg in 2018, reflecting a reduction of approximately 3.81%[101] - The company’s indirect emissions (Scope 2) decreased to 50 tons in 2019 from 65 tons in 2018, marking a reduction of about 23.08%[101] - The company has implemented measures to minimize environmental impact, including using ultra-low sulfur diesel and prohibiting open burning on construction sites[100] - The company encourages employees to adopt energy-saving practices, such as turning off lights and appliances when leaving the office[102] - The company has implemented an environmental management system certified to ISO 14001 to minimize its environmental impact[104] Employee Management - As of March 31, 2019, the group employed a total of 40 employees, with employee costs approximately HKD 20.3 million, an increase from HKD 19.7 million in 2018[36] - Employee turnover rate increased to 38% in 2019 from 15% in 2018, with male employees experiencing a turnover rate of 46%[107] - Total training hours for employees increased from 542 hours in 2018 to 522 hours in 2019, with a notable increase in training hours for female employees in project management[118] - The company is committed to providing competitive compensation and benefits to attract and retain talent, emphasizing the importance of human capital development[105] - The company’s workforce management aims to attract and retain suitable personnel through competitive compensation packages[155] Community Engagement - The group actively participates in community investment through charitable donations and support for education and environmental protection[125] Shareholder Relations - The company has established multiple communication channels with shareholders, including annual meetings and a dedicated website[94] - The company’s shareholders have the right to propose independent resolutions at general meetings, ensuring their interests are protected[88] Audit and Financial Reporting - The financial statements presented are for the year ended March 31, 2019, and have been audited[8] - The external auditor received fees of HKD 1,050,000 for statutory audit services and HKD 580,000 for listing transfer services in the fiscal year ending March 31, 2019[86] - The company is committed to timely publication of financial statements to provide a balanced and understandable assessment of its financial position[80] - The company’s financial statements reflect a true and fair view of its financial position as of March 31, 2019, in accordance with Hong Kong Financial Reporting Standards[200] Corporate Structure - The company’s main business nature has not undergone significant changes during the year[148] - The company confirms compliance with the minimum public float requirements as per GEM Listing Rules as of the report date[195] - The company has not entered into any related party transactions that are not exempt under GEM Listing Rules during the fiscal year ending March 31, 2019[194] - The company has not granted or agreed to grant any stock options under its stock option plan for the fiscal year ending March 31, 2019[166] - The board does not recommend the payment of a final dividend for the fiscal year ending March 31, 2019[157] - There were no significant transactions or contracts involving directors or their related entities during the year[181] - The company has established a compliance advisory agreement with a financing company, with no additional interests reported by the compliance advisor[193] Significant Events - There are no significant events occurring after the reporting period that would impact the financial statements[198] - The annual general meeting is scheduled for August 9, 2019, with a suspension of share transfer registration from August 5 to August 9, 2019[161]

Financial Performance - Revenue for the three months ended December 31, 2018, was HKD 81,078,000, a decrease of 27.7% compared to HKD 112,257,000 for the same period in 2017[4]. - Gross profit for the nine months ended December 31, 2018, was HKD 31,899,000, slightly up from HKD 31,687,000 in 2017, indicating a stable performance[4]. - The net profit for the nine months ended December 31, 2018, was HKD 14,629,000, down 15.3% from HKD 17,287,000 in the same period of 2017[4]. - Basic earnings per share for the nine months ended December 31, 2018, was HKD 1.83, compared to HKD 2.16 for the same period in 2017, reflecting a decrease of 15.3%[4]. - Revenue decreased from approximately HKD 355.4 million for the nine months ended December 31, 2017, to approximately HKD 223.8 million for the nine months ended December 31, 2018, a decline of about 37.0%[22]. - Cost of sales decreased from approximately HKD 323.7 million for the nine months ended December 31, 2017, to approximately HKD 191.9 million for the nine months ended December 31, 2018, a decline of about 40.7%[23]. - Gross profit increased from approximately HKD 31.7 million for the nine months ended December 31, 2017, to approximately HKD 31.9 million for the nine months ended December 31, 2018, with the overall gross margin rising from about 8.9% to approximately 14.3%[24]. - Profit attributable to owners decreased from approximately HKD 17.3 million for the nine months ended December 31, 2017, to approximately HKD 14.6 million for the nine months ended December 31, 2018, a decrease of about 15.6%[30]. Expenses and Costs - Administrative expenses increased to HKD 12,665,000 for the nine months ended December 31, 2018, from HKD 9,556,000 in 2017, representing a rise of 32.5%[4]. - Administrative expenses increased by approximately HKD 3.1 million or 32.3% from about HKD 9.6 million for the nine months ended December 31, 2017, to about HKD 12.7 million for the nine months ended December 31, 2018[26]. - The financing costs for the nine months ended December 31, 2018, were HKD 1,348,000, slightly up from HKD 1,297,000 in 2017[4]. - Financing costs remained stable at approximately HKD 1.3 million for both the nine months ended December 31, 2017, and December 31, 2018[27]. - Income tax expenses decreased from approximately HKD 3.6 million for the nine months ended December 31, 2017, to approximately HKD 3.3 million for the nine months ended December 31, 2018, a decrease of about 8.3%[28]. Shareholder Information - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2018[16]. - The company did not declare any interim dividends for the nine months ending December 31, 2018[45]. - As of December 31, 2018, major shareholders Sharp Talent and Diamondfield each hold 533,000,000 shares, representing a combined ownership of 66.6% of the company's issued share capital[38]. - No share options were granted during the period, and there were no unexercised share options as of December 31, 2018[46]. 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[47]. - The company has complied with the corporate governance code as per GEM listing rules, with the roles of chairman and CEO currently held by the same individual[43]. - No known conflicts of interest or competitive businesses were reported among directors or major shareholders as of December 31, 2018[40]. - The company has not received any notifications from individuals regarding their interests in the company's shares or related securities as of December 31, 2018[39]. - The company has adopted a code of conduct for directors' securities transactions, adhering to GEM listing rules[44]. - The company has entered into a compliance advisory agreement with a financing company, with no reported interests that require disclosure under GEM listing rules[41]. Market Position and Future Outlook - The company operates solely in the building maintenance and construction services sector in Hong Kong, with no further segment analysis provided[15]. - The company anticipates that the number of properties to be constructed and maintained in Hong Kong will continue to be a key driver for the RMAA and renovation industry[31]. - The management team believes that the company is well-positioned to compete with peers due to its experienced management and industry reputation[31]. - The company plans to utilize the net proceeds from its listing to strengthen its market position and expand its market share[31].