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。 HING MING HOLDINGS LIMITED 興 銘 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8425） 截至二零二三年三月三十一日止年度之年度業績公告 興銘控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司截至二零二三年三月三十一日止年度之經審核綜合業績。本公告 載列本公司二零二三年年報全文，並遵守香港聯合交易所有限公司GEM證券 上市規則（「GEM上市規則」）中有關年度業績初步公告隨附資料的相關規定。 承董事會命 興銘控股有限公司 主席、執行董事兼行政總裁 鄧興強 香港，二零二三年六月二十日 於本公告日期，執行董事為鄧興強先生（主席兼行政總裁）及鄧銘禧先生；非執行董事為區鳳 怡女士及區立華先生；及獨立非執行董事為關煥民先生、趙志榮先生及楊志輝先生。 本公告的資料乃遵照GEM上市規則而刊載，旨在提供有關本公司的資料；各董事願就本公 ...

2022 第三季度 報告 2022 THIRD QUARTERLY REPORT CMY CM MY CY CMY K ai167567281532_Hing Ming 3Q2022 cover op.pdf 1 6/2/2023 下午4:40 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯 交所主板上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公 司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主 板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有 高流通量的市場。 香港交易及結算所有限公司及聯交所對本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，並明確表示概不就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。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關本公司的資料；興銘控股有限公司各董事（分別為「本公司」及「董事」） 願就本報告的資料共同 ...

Financial Performance - The company's revenue for the six months ended September 30, 2022, was HKD 48,872,000, representing a 114.5% increase compared to HKD 22,726,000 for the same period in 2021[3] - Gross profit for the same period was HKD 12,093,000, up 55.5% from HKD 7,777,000 year-on-year[3] - The net profit attributable to the owners of the company for the six months was HKD 5,865,000, compared to HKD 2,150,000 in the previous year, marking a 172.3% increase[3] - Basic and diluted earnings per share increased to HKD 1.47 cents from HKD 0.54 cents, reflecting a growth of 172.2%[3] - The company reported a total comprehensive income of HKD 5,865,000 for the six months, compared to HKD 2,150,000 in the previous year, reflecting a 172.3% increase[8] - Revenue for the six months ended September 30, 2022, was HKD 48,872,000, a 114.5% increase from HKD 22,726,000 in the same period of 2021[21] - Rental and related services revenue for the six months ended September 30, 2022, was HKD 47,474,000, up 122.1% from HKD 21,357,000 in the previous year[22] - The total profit and comprehensive income rose by approximately 172.8%, from about HKD 2.2 million to approximately HKD 5.9 million for the six months ended September 30, 2022[50] Cash Flow and Assets - Cash generated from operating activities for the six months was HKD 12,712,000, a significant improvement from a cash outflow of HKD 1,480,000 in the same period last year[11] - Total assets as of September 30, 2022, were HKD 154,129,000, compared to HKD 146,683,000 as of March 31, 2022, indicating a growth of 5.5%[6] - The company's cash and cash equivalents at the end of the period were HKD 28,470,000, down from HKD 30,422,000 at the beginning of the period[11] - Non-current assets increased to HKD 129,981,000 from HKD 125,631,000, showing a growth of 2.0%[4] Liabilities and Equity - The company’s total liabilities decreased from HKD 32,213,000 to HKD 24,153,000, a reduction of 25.0%[4] - As of September 30, 2022, the company's issued share capital was HKD 3,760,000, with a total of 376,000,000 shares outstanding after the cancellation of 24,000,000 shares[53] - The major shareholder, Xingji, holds a beneficial interest of 120,000,000 shares, representing 30.0% of the issued shares[1] - Mr. Li Ruliang holds a beneficial interest of 98,524,000 shares, representing 24.6% of the issued shares[1] - After the share cancellation, Xingji's ownership percentage increased to approximately 31.9%[1] - Following the share cancellation, Mr. Li Ruliang's ownership percentage decreased to approximately 26.2%[1] Expenses and Costs - The cost of sales for the six months ended September 30, 2022, was HKD 2,906,000, significantly higher than HKD 591,000 in the same period of 2021[24] - Administrative expenses increased by approximately 45.2%, from about HKD 5.1 million to approximately HKD 7.4 million, primarily due to increased employee costs and director remuneration[48] - Financing costs increased by approximately 298.5%, from about HKD 198,000 to approximately HKD 789,000, mainly due to increased financial liabilities and borrowings related to tower crane financing leases[49] - Employee costs for the six months ended September 30, 2022, were approximately HKD 9.0 million, an increase from HKD 5.3 million in the previous year, primarily due to increased director remuneration and employee salaries[61] Strategic Initiatives - The company entered into a non-binding strategic cooperation framework agreement with Xuzhou Engineering Machinery Group Import and Export Co., Ltd. to explore potential collaboration in the tower crane business in Hong Kong[42] - The company has purchased new motors and other necessary components to replace old temporary cranes, aiming to consolidate its market position in the crane industry[1] - The company has acquired additional tower cranes to capture market demand for tower crane rental services[1] - The company aims to adopt a proactive and prudent approach to its business strategy to enhance profitability and shareholder value[42] Compliance and Governance - The audit committee has reviewed the interim financial statements for the period ending September 30, 2022, and confirmed compliance with applicable accounting standards and regulations[2] - The company applied new accounting standards without significant impact on the financial statements for the six months ended September 30, 2022[17] - The board believes that having the same person serve as both Chairman and CEO is beneficial for the company's operations and management[2] Share Options and Investments - The company has not granted any stock options since the adoption of the stock option plan on February 23, 2017, and there are no unexercised stock options as of September 30, 2022[1] - The company had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended September 30, 2022[58] - There were no major investments held by the group as of September 30, 2022[59] - The group had no pledged assets as of September 30, 2022[60] Trade Receivables - Trade receivables as of September 30, 2022, were HKD 19,001,000, down from HKD 21,214,000 as of March 31, 2022[33] - Trade receivables as of September 30, 2022, totaled approximately HKD 17.1 million, with no significant changes in credit quality noted by the board[35]

2022 第一季度 報告 2022 FIRST QUARTERLY REPORT CMY CM MY CY CMY K 第一季度業績 董事會（「董事會」）欣然公佈本公司及其附屬公司（統稱「本集團」）於截至二零 二二年六月三十日止三個月的未經審核綜合業績連同其與二零二一年同期的 未經審核比較數據及相關解釋附註如下。 未經審核綜合損益及其他全面收益表 截至二零二二年六月三十日止三個月 | | | 截至六月三十日止三個月 | | | --- | --- | --- | --- | | | | 二零二二年 | 二零二一年 | | | 附註 | 千港元 | 千港元 | | 收入 | 3 | 25,437 | 11,187 | | 銷售及提供服務成本 | | (18,249) | (7,719) | | 毛利 | | 7,188 | 3,468 | | 其他收入 | | 441 | 10 | | 行政開支 | | (2,740) | (2,587) | | 融資成本 | | (368) | (37) | | 除所得稅抵免╱開支前溢利 | 4 | 4,521 | 854 | | 所得稅（開支）╱抵免 | 5 | (362) ...

Financial Performance - The group recorded revenue of approximately HKD 75.4 million for the fiscal year 2022, an increase of about 44.1% from approximately HKD 52.4 million in the fiscal year 2021[9]. - The group reported a total loss of approximately HKD 3.0 million for the fiscal year 2022, compared to a profit of approximately HKD 4.6 million in the fiscal year 2021[9]. - The cost of sales and services for the fiscal year 2022 was approximately HKD 56.6 million, representing an increase of about 72.3% from approximately HKD 32.8 million in the fiscal year 2021[22]. - The gross profit for the fiscal year 2022 was approximately HKD 18.8 million, with a gross profit margin of about 25.0%, down from a gross profit of approximately HKD 19.5 million and a margin of 37.3% in the fiscal year 2021[23]. - Administrative expenses increased to approximately HKD 16.6 million in the fiscal year 2022 from HKD 12.5 million in the fiscal year 2021, primarily due to a loss of approximately HKD 2.8 million from the sale of properties, plants, and equipment[25]. - Financing costs rose by approximately 147% to about HKD 1.0 million in the fiscal year 2022, up from approximately HKD 0.4 million in the fiscal year 2021[26]. - Capital expenditures for the fiscal year 2022 totaled approximately HKD 30.2 million, an increase from approximately HKD 22.0 million in the fiscal year 2021, with most expenditures allocated to additional tower cranes and vehicles[28]. - As of March 31, 2022, the company had cash and cash equivalents of approximately HKD 30.4 million, compared to approximately HKD 13.8 million in the fiscal year 2021[29]. - The company's net asset value as of March 31, 2022, was approximately HKD 19.9 million, down from approximately HKD 24.2 million in the fiscal year 2021[30]. - The company did not recommend the payment of a final dividend for the fiscal year 2022, consistent with the previous fiscal year[37]. Business Strategy and Operations - The group plans to strengthen its core business and adopt a prudent approach to bidding for new projects to enhance profitability and shareholder value in the long term[10]. - The group aims to explore other potential investment opportunities to diversify its business and create new revenue sources[11]. - The demand for temporary cranes and tower cranes is expected to remain strong due to the continuous growth in public housing applications in Hong Kong[15]. - The group has over 20 years of experience in providing temporary crane leasing and related services[14]. - The group sources equipment and components from suppliers primarily located in Germany, Belgium, Spain, and China[17]. - The group is committed to leading the development of the temporary crane industry by providing high-quality equipment and services[17]. - The group is actively seeking other business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[18]. - The company has purchased six tower cranes to diversify its revenue sources and meet market demand[44]. - The company has retained two technical staff and one sales manager to support the tower crane rental business[44]. - The company has allocated HKD 42.4 million for tower crane rental services, which is fully utilized[45]. Shareholder and Corporate Governance - The board consists of seven directors, including two executive directors and three independent non-executive directors[47]. - The company has adopted a share option scheme to reward participants for their contributions[41]. - The company did not declare or propose any dividends for the fiscal year 2022[70]. - The main business of the company remains investment holding, with no significant changes in the fiscal year 2022[67]. - The company was registered as an exempted company in the Cayman Islands on April 8, 2016, and underwent a corporate restructuring to prepare for listing on GEM[68]. - The company became the holding company of the group on February 23, 2017, following the restructuring[68]. - The issued shares have been listed on the GEM of the Stock Exchange since March 15, 2017[69]. - The board presented the audited consolidated financial statements for the fiscal year 2022 to shareholders[66]. - The company has complied with all applicable corporate governance code provisions as per GEM Listing Rules Appendix 15 during the fiscal year 2022[131]. - The company has not entered into any management or administrative contracts during the fiscal year 2022, except for the service contracts of executive directors[118]. - The company maintains sufficient public float as required under GEM Listing Rules as of the date of the annual report[128]. - The audit committee consists of three independent non-executive directors, ensuring effective oversight of financial reporting and internal controls[136]. - The consolidated financial statements for the year ended March 31, 2022, were audited by Tianzhi Hong Kong CPA, who will be proposed for reappointment at the upcoming annual general meeting[137]. - The company has maintained the same auditor for the past three years, indicating stability in financial oversight[138]. - The board of directors is composed of seven members, with non-executive and independent non-executive directors making up over 70% of the board, enhancing independence and governance[147]. - The company has at least three independent non-executive directors, meeting GEM listing rules requirements, ensuring proper governance and oversight[149]. - All directors received training on their responsibilities and duties, ensuring they are well-informed to contribute effectively to the board[150]. - The company has adopted and complied with all applicable corporate governance code provisions during the fiscal year 2022, except for minor deviations disclosed in the annual report[142]. - The board is responsible for overseeing the management of the company and ensuring adequate resources are available to achieve its objectives[144]. - The company encourages directors to participate in relevant training courses, with costs covered by the company, to enhance their knowledge and skills[150]. - The audit committee has discussed the accounting principles and practices adopted by the group, ensuring transparency and accountability in financial reporting[136]. - The board held 13 meetings during the fiscal year 2022, with all executive directors attending the meetings[154]. - The audit committee met four times in fiscal year 2022 to review the group's annual consolidated financial statements and internal controls[162]. - As of March 31, 2022, the board consisted of six males and one female, achieving the diversity policy goals set by the company[155]. - The chairman and CEO positions are held by the same individual, Mr. Tang Hing Keung, which the board believes provides strong and consistent leadership[156]. - The audit committee includes four independent non-executive directors, ensuring independence and objectivity in financial reporting[161]. - The company has established a board diversity policy to enhance board efficiency and ensure a balanced mix of skills and experiences[155]. - The company secretary is responsible for recording and maintaining all board meeting minutes, ensuring transparency and accountability[153]. - The board is committed to reviewing and monitoring corporate governance practices to maintain high standards[156]. - The company has implemented a risk management and internal control system, which is regularly discussed with management[161]. - The audit committee is tasked with ensuring the independence and effectiveness of external auditors, reviewing their performance and recommendations[161]. - The Compensation Committee held two meetings in the fiscal year 2022 to review and recommend matters related to the remuneration of directors and senior management[166]. - All independent non-executive directors attended the Compensation Committee meetings with a perfect attendance record of 2/2 for each member[167]. - The Nomination Committee held one meeting in the fiscal year 2022 to review the structure, size, and composition of the board, and to assess the independence of independent non-executive directors[170]. - The Nomination Committee also evaluated the independence of independent non-executive directors and recommended the reappointment of retiring directors at the next annual general meeting[172]. - The board is responsible for ensuring compliance with corporate governance codes and reviewing the training and professional development of directors and senior management[175]. - The company has established a formal and transparent procedure for setting remuneration policies for all directors and senior management[164]. - The Compensation Committee ensures that no director or their associates participate in determining their own remuneration[168]. - The company’s independent non-executive directors have a fixed term of three years from the date of listing or relevant appointment date[174]. - The Compensation Committee reviews and approves compensation arrangements for executive directors and senior management in case of termination of their positions[168]. - The company is committed to maintaining a diverse board composition and regularly reviews its diversity policy[172]. - The company has appointed independent auditors, Tianzhi Hong Kong CPA, for the annual audit services in the fiscal year 2022[178]. - The total fees paid/owed to Tianzhi for the fiscal year 2022 amounted to HKD 553,300, which includes HKD 515,000 for audit services and HKD 38,300 for non-audit tax services[179]. - The board of directors is responsible for preparing the consolidated financial statements and has not identified any significant uncertainties affecting the company's ability to continue as a going concern[181]. - The board has established and maintained an effective risk management and internal control system, which was reviewed for effectiveness during the fiscal year 2022[183]. - The company does not have a predetermined dividend policy and considers various factors, including financial performance and cash flow, when determining dividend recommendations[186]. - The company has strict measures in place to prevent unauthorized use of confidential or insider information[187]. - The company’s governance report indicates that all directors are subject to re-election every three years at the annual general meeting[176]. - The company’s board members, including independent non-executive directors, are required to retire by rotation, with one-third of the directors retiring at each annual general meeting[176]. - The company has a process for shareholders to request a special general meeting to present proposals, requiring at least 10% of the voting rights to initiate[192]. - The company’s management team has undergone relevant professional training to ensure compliance with GEM listing rules[185]. - The company has adopted a shareholder communication policy to ensure equal and timely access to information for shareholders, allowing them to exercise their rights and participate actively in company affairs[196]. - Shareholders can submit written inquiries to the company's headquarters in Hong Kong for the company secretary's attention[194]. - Upon receiving inquiries, the company secretary will forward them to the relevant parties, including executive directors and committee chairs, as well as management for general business matters[195]. - The company will inform shareholders of relevant information through financial reports, annual general meetings, and any special general meetings that may be convened[197]. - There were no changes to the company's articles of association during the fiscal year 2022[198]. Risk Management and Compliance - The group has complied with all applicable laws and regulations in Hong Kong that have a significant impact on its business and operations during the fiscal year 2022[80]. - The group has not entered into any stock-linked agreements during the fiscal year 2022[92]. - The group has not participated in any arrangements that would allow directors to benefit from acquiring shares or debentures of the company during the fiscal year 2022[93]. - The group’s financial risk management objectives and policies are detailed in the consolidated financial statements, ensuring effective monitoring of financial performance[73].

香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所 主板上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風 險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量 的市場。 香港交易及結算所有限公司及聯交所對本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，並明確表示概不就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。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供 有關本公司的資料；興銘控股有限公司各董事（分別為「本公司」及「董事」）願就本報告 的資料共同及個別地承擔全部責任。董事在作出一切合理查詢後，確認就彼等所深知 及確信，本報告所載資料在各重要方面均屬準確完備，沒有誤導或欺詐成分，且並無 遺漏任何事項，足以令致其所載任何陳述或本報告產生誤導。 第三季度業績 董事會（「董事會」）欣然公佈本公司 ...

Financial Performance - For the six months ended September 30, 2021, the company's revenue was HKD 22,726,000, a decrease of 20.5% compared to HKD 28,497,000 for the same period in 2020[2] - Gross profit for the same period was HKD 7,777,000, down 37.5% from HKD 12,368,000 in 2020[2] - The net profit attributable to the owners of the company for the six months was HKD 2,150,000, a decline of 68.9% compared to HKD 6,917,000 in the previous year[2] - Total revenue for the six months ended September 30, 2021, was HKD 22,726,000, a decrease of 20.1% compared to HKD 28,497,000 for the same period in 2020[18] - Revenue from leasing and related services for the six months ended September 30, 2021, was HKD 21,357,000, down 8.0% from HKD 23,201,000 in 2020[18] - Revenue from equipment and parts trading for the six months ended September 30, 2021, was HKD 1,369,000, a decline of 74.0% compared to HKD 5,296,000 in 2020[18] - The group's revenue for the six months ended September 30, 2021, decreased by approximately 20.3% to about HKD 22.7 million, down from approximately HKD 28.5 million for the same period in 2020[38] - Gross profit decreased by approximately 37.1% to about HKD 7.8 million, with a gross margin of approximately 34.2%, compared to 43.4% in the same period last year[40] - The group's total profit and comprehensive income for the six months ended September 30, 2021, decreased by approximately 68.9% to about HKD 2.2 million, primarily due to increased material and subcontracting costs[45] Assets and Liabilities - The company's total assets as of September 30, 2021, were HKD 164,181,000, an increase from HKD 142,655,000 as of March 31, 2021[4] - Current liabilities increased to HKD 21,416,000 from HKD 4,899,000 as of March 31, 2021, indicating a significant rise in short-term obligations[4] - Trade receivables as of September 30, 2021, increased to HKD 19,352,000 from HKD 14,001,000 as of March 31, 2021[29] - Trade payables as of September 30, 2021, were HKD 65,000, a decrease from HKD 333,000 as of March 31, 2021[31] Cash Flow - Cash and cash equivalents decreased to HKD 10,915,000 from HKD 13,796,000 at the end of the previous reporting period[10] - The company reported a net cash outflow from operating activities of HKD 1,480,000 for the six months ended September 30, 2021, compared to a net inflow of HKD 11,629,000 in 2020[10] - The company’s financing activities generated a net cash inflow of HKD 14,323,000 for the six months ended September 30, 2021, compared to a net cash outflow of HKD 3,781,000 in the previous year[10] - The group had cash and cash equivalents of approximately HKD 10.9 million as of September 30, 2021, down from HKD 13.8 million as of March 31, 2021[46] Earnings and Dividends - The company’s basic and diluted earnings per share for the six months were HKD 0.54, down from HKD 1.73 in the same period of 2020[2] - Basic earnings per share for the six months ended September 30, 2021, was HKD 0.54 cents, down from HKD 1.73 cents in 2020[26] - The company did not declare any dividends for the six months ended September 30, 2021, consistent with 2020[25] Tax and Expenses - The company incurred a total tax expense of HKD 344,000 for the six months ended September 30, 2021, compared to HKD 1,126,000 in 2020[22] - The cost of sales and consumables for the six months ended September 30, 2021, was HKD 591,000, down from HKD 2,709,000 in 2020[21] - The company reported a net exchange gain of HKD (5,000) for the six months ended September 30, 2021, compared to a loss of HKD (41,000) in 2020[21] Employment and Shareholding - The group employed 37 full-time employees as of September 30, 2021, with employee costs amounting to approximately HKD 5.1 million, a decrease from HKD 7.0 million in the previous year[57] - The major shareholders include Mr. Tang Hing Keung and Ms. Au Fung Yi, each holding 30% of the company through their controlled entity, Hing Kit[59][64] - Ms. Hu Lan Ying holds a beneficial interest in 93,688,000 shares, representing approximately 23.42% of the total issued shares[62] Business Strategy and Operations - The group aims to enhance its core business revenue performance through flexible strategies in response to market challenges[36] - The group plans to continue adopting a proactive and prudent approach to its business strategy to improve profitability and enhance shareholder value[36] - The company has purchased new motors and other necessary components to replace old temporary cranes, reinforcing its market position in the crane industry[73] - The company has acquired additional tower cranes to capture market demand for tower crane rental services, retaining two general technicians and one sales manager to support operations[73] Compliance and Governance - The audit committee, consisting of four independent non-executive directors, has reviewed the interim financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[77] - The board is not aware of any significant events that require disclosure after September 30, 2021, up to the report date[75] Capital Commitments and Investments - The group has capital commitments of approximately HKD 19.9 million for the procurement of tower cranes and components as of September 30, 2021[50] - There were no significant acquisitions or disposals of subsidiaries or associated companies reported as of September 30, 2021[53] - The group held no significant investments as of September 30, 2021[54] - There were no significant investments or capital asset plans as of September 30, 2021, apart from those disclosed in the prospectus dated February 28, 2017, and the announcement dated August 28, 2020[53] - As of September 30, 2021, the group had no mortgaged assets[55] - The group’s operating income is primarily transacted in Hong Kong dollars, with foreign exchange risk deemed very low[52]

Financial Performance - Total revenue for the three months ended June 30, 2021, was HK$11,187,000, a decrease of 13% from HK$12,839,000 in the same period of 2020[3] - Gross profit for the same period was HK$3,468,000, down 40% from HK$5,816,000 year-on-year[3] - Profit attributable to owners of the company for the three months was HK$1,095,000, a decline of 64% compared to HK$3,064,000 in the previous year[3] - Basic and diluted earnings per share were HK$0.27, compared to HK$0.77 for the same period in 2020, reflecting a 65% decrease[3] - Revenue from leasing and related services was HK$10,863,000, down 10% from HK$12,056,000 in the prior year[14] - Revenue from equipment and parts trading was HK$324,000, a significant drop of 59% from HK$783,000 in the same period last year[14] - The total profit and comprehensive income decreased by approximately 64.3% to about HKD 1.1 million for the three months ended June 30, 2021, compared to approximately HKD 3.1 million for the same period in 2020[35] - The company’s basic earnings per share for the three months ended June 30, 2021, was HKD 0.27, down from HKD 0.77 for the same period in 2020[22] Expenses and Costs - Administrative expenses increased to HK$2,587,000 from HK$2,021,000, representing a rise of 28% year-on-year[3] - Financing costs decreased to HK$37,000 from HK$140,000, showing a reduction of 74%[3] - Sales and service costs increased by approximately 9.9% to about HKD 7.7 million for the three months ended June 30, 2021, compared to approximately HKD 7.0 million for the same period in 2020[29] - Other income decreased significantly to about HKD 10,000 for the three months ended June 30, 2021, from approximately HKD 169,000 for the same period in 2020, primarily due to the lack of pandemic relief fund subsidy income[31] Equity and Taxation - The company reported a tax credit of HK$241,000 for the period, compared to a tax expense of HK$760,000 in the previous year[3] - The total equity as of June 30, 2021, was HK$125,484,000, an increase from HK$122,874,000 as of June 30, 2020[5] Corporate Governance - The company is owned 30.0% by Xingji Limited, which is controlled by Mr. Tang Xingqiang (90% ownership) and Ms. Qu Fengyi (10% ownership)[37] - The board believes that having Mr. Tang serve as both Chairman and CEO is beneficial for the company's operations and management[43] - The company has complied with all corporate governance code provisions as of June 30, 2021, except for the separation of the roles of Chairman and CEO[43] - No competitive business interests were reported by the directors or major shareholders that could conflict with the company's operations[45] - The company has adopted the GEM Listing Rules for regulating securities trading by directors[48] - The audit committee was established on February 23, 2017, in compliance with corporate governance codes and GEM listing rules, consisting of four independent non-executive directors[49] - The audit committee reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[49] - The executive directors include the Chairman and CEO, along with the Vice Chairman and another executive director, ensuring a strong leadership structure[49] Shareholder Information - Mr. Tang Xingqiang holds 120,000,000 shares, representing 30.0% of the issued shares[41] - Ms. Woo Lan Ying holds 93,688,000 shares, accounting for approximately 23.42% of the issued shares[42] - There were no stock options granted or exercised as of June 30, 2021[44] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2021[47] - There were no disclosures of interests or short positions in shares or debentures by directors or senior management other than those mentioned[41]

Financial Performance - The group recorded revenue of approximately HKD 52.4 million for the fiscal year ending March 31, 2021, a decrease of about 5.1% from approximately HKD 55.2 million in the previous fiscal year[7]. - The group achieved a profit before tax of approximately HKD 8.5 million, an increase of about 26.0% from approximately HKD 6.8 million in the previous fiscal year, primarily due to income from the anti-epidemic fund subsidy program amounting to approximately HKD 1.5 million[7]. - The company's revenue for the fiscal year 2021 decreased by approximately 5.1% to about HKD 52.4 million, down from approximately HKD 55.2 million in fiscal year 2020[19]. - The cost of sales and services for fiscal year 2021 was approximately HKD 32.8 million, a decrease of about 7.3% from HKD 35.4 million in fiscal year 2020[20]. - The gross profit for fiscal year 2021 was approximately HKD 19.5 million, with a gross margin of about 37.3%, compared to HKD 19.8 million and 35.9% in fiscal year 2020[21]. - Other income increased to approximately HKD 2.3 million in fiscal year 2021 from HKD 0.3 million in fiscal year 2020, primarily due to HKD 1.5 million from the anti-epidemic fund and HKD 0.5 million from the sale of properties[22]. - Administrative expenses rose to approximately HKD 12.5 million in fiscal year 2021 from HKD 10.6 million in fiscal year 2020, mainly due to performance bonuses of about HKD 3.3 million paid to directors and employees[23]. - Financing costs decreased by approximately 39.1% to about HKD 0.4 million in fiscal year 2021 from HKD 0.7 million in fiscal year 2020, attributed to reduced financial liabilities under tower crane financing leases[24]. - The total profit and comprehensive income for fiscal year 2021 was approximately HKD 4.6 million, up from HKD 1.1 million in fiscal year 2020, mainly due to increased other income and reduced income tax expenses[25]. - Capital expenditures for fiscal year 2021 totaled approximately HKD 22.0 million, down from HKD 37.4 million in fiscal year 2020, with a significant portion allocated to the purchase of additional tower cranes and generators[26]. - As of March 31, 2021, the company had cash and cash equivalents of approximately HKD 13.8 million, down from HKD 22.5 million in fiscal year 2020[27]. - The company did not declare or propose any dividends for the fiscal year 2021[75]. Business Strategy and Market Outlook - The company anticipates continued challenges in the operating environment due to the recession in the Hong Kong construction market caused by COVID-19[8]. - The board plans to strengthen the core business position and adopt a proactive approach to bidding for new projects to enhance long-term profitability and shareholder value[8]. - The group aims to explore other potential investment opportunities to diversify its business and create new revenue sources[9]. - The demand for temporary cranes and tower cranes is expected to remain strong in the coming years, driven by the increasing application for public housing in Hong Kong[13]. - The company is actively seeking other business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[16]. - The company is focused on expanding its market presence in the crane rental sector through strategic investments and acquisitions[42]. - The company has diversified its revenue sources by acquiring six tower cranes to capture market demand for tower crane rental services[42]. Corporate Governance - The company’s board consists of ten directors, including four executive directors, two non-executive directors, and four independent non-executive directors[45]. - The company’s executive director and CEO, Mr. Tang Hing Keung, has over 20 years of experience in the crane and tower crane industry[47]. - The company’s operational strategy includes enhancing compliance and overall management oversight[54]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee various aspects of governance[162]. - The board of directors confirmed the independence of all independent non-executive directors as per GEM Listing Rules[94]. - The company emphasizes the importance of good corporate governance elements in its management structure and internal controls[142]. - The company has complied with all applicable provisions of the corporate governance code as per GEM listing rules for the fiscal year 2021[133]. - The board is responsible for the corporate governance functions as outlined in the corporate governance code, including the nomination process and standards for directors[176]. Shareholder Information - The company has a significant shareholder, Xingji, which holds a 30.0% stake, with Mr. Tang Xingqiang and Ms. Qu Fengyi owning 90% and 10% of Xingji, respectively[104]. - Ms. Hu Lanying holds 93,688,000 shares, representing approximately 23.42% of the total issued shares[104]. - Mr. Tang Xingqiang and Ms. Qu Fengyi each hold 120,000,000 shares, accounting for 30.0% of the issued shares[99]. - The company has not repurchased any of its listed securities during the fiscal year 2021 or thereafter[88]. - The company has not disclosed any tax relief available to shareholders due to shareholding[137]. - The company has adopted a shareholder communication policy to ensure equal and timely access to information for shareholders[198]. Risk Management and Compliance - The financial performance and key risk factors affecting the company are detailed in the annual report, with no significant events impacting the company since the end of the fiscal year 2021[78]. - The company confirmed compliance with all applicable laws and regulations in Hong Kong that have a significant impact on its operations during the fiscal year 2021[85]. - The company has established procedures for the immediate disclosure of inside information as required by the Securities and Futures Ordinance[191]. - The board has assessed the effectiveness of the risk management and internal control systems, which are designed to manage rather than eliminate risks[188]. Audit and Remuneration - The independent auditor for the fiscal year ending March 31, 2021, was Tianji Hong Kong CPA Limited, which has been appointed since March 1, 2019[139]. - The Audit Committee was established on February 23, 2017, and includes four independent non-executive directors[164]. - The Audit Committee held four meetings in the fiscal year 2021, reviewing the group's annual consolidated financial statements and internal controls[166]. - The Remuneration Committee held five meetings in the fiscal year 2021 to review and recommend matters related to the remuneration of directors and senior management[169]. - The remuneration details for directors in the fiscal year 2021 are included in the financial statements, with one senior management member earning between HKD 0 to 1,000,000[181]. Employee and Management Information - The company employed 37 full-time employees as of March 31, 2021, with total employee costs of approximately HKD 15.6 million, including performance bonuses of about HKD 3.3 million[38]. - Continuous professional development courses were provided to all directors during the fiscal year 2021[152]. - Each director received formal and comprehensive onboarding training to understand their responsibilities and the company's operations[152]. Charitable Contributions - Charitable donations made by the company reached HKD 104,000 in the fiscal year 2021, compared to zero in the previous fiscal year[77].

香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在 聯交所主板上市的公司帶有較高投資風險。有意投資的人士應了解投資於該 等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所 主板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券 會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本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，並明確表示概不就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。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載， 旨在提供有關本公司的資料；興銘控股有限公司各董事（分別為「本公司」及 「董事」）願就本報告的資料共同及個別地承擔全部責任。董事在作出一切合 理查詢後，確認就彼等所深知及確信，本報告所載資料在各重要方面均屬準 確完備，沒有誤導或欺詐成分，且並無遺漏任何事項，足以令致其所載任何 陳述或本報告產生誤導。 第三季度業績 董事會（「董事會」）欣然公佈本公 ...