Financial Performance - Total revenue for the first quarter of 2020 was HKD 12,839,000, a decrease of 28.2% compared to HKD 17,901,000 in the same period of 2019[4] - Gross profit for the first quarter was HKD 5,816,000, down 11.3% from HKD 6,555,000 year-on-year[4] - Profit before tax was HKD 3,824,000, a decline of 14.7% from HKD 4,483,000 in the previous year[4] - The company reported a net profit attributable to shareholders of HKD 3,064,000, an increase of 55.5% compared to HKD 1,969,000 in the same quarter of 2019[4] - Basic and diluted earnings per share for the quarter were HKD 0.77, up from HKD 0.49 in the same period last year[4] - The profit and total comprehensive income for the three months ended June 30, 2020, increased by approximately 55.6% to about HKD 3.1 million, compared to approximately HKD 2.0 million in 2019[32] - Basic earnings per share for the period was HKD 0.77, up from HKD 0.49 in the same period last year[19] Revenue Breakdown - Revenue from leasing and related services was HKD 12,056,000, significantly up from HKD 8,881,000 in 2019, indicating a growth of 35.5%[14] - Revenue from equipment and parts trading dropped to HKD 783,000 from HKD 9,020,000, a decline of 91.3% year-on-year[14] - The company's revenue for the three months ended June 30, 2020, decreased by approximately 28.3% to about HKD 12.8 million, compared to approximately HKD 17.9 million for the same period in 2019[25] Expenses and Costs - The cost of sales and services for the same period was approximately HKD 7.0 million, a decrease of about 38.1% from HKD 11.3 million in 2019[26] - Administrative expenses for the quarter were HKD 2,021,000, slightly down from HKD 2,067,000 in the previous year[4] - Administrative expenses remained stable at approximately HKD 2.0 million, a slight decrease of 2.2% from HKD 2.1 million in 2019[30] - The income tax expense for the three months ended June 30, 2020, was HKD 760,000, a decrease from HKD 2.514 million in 2019[17] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, which has reviewed the unaudited consolidated financial statements[48] - The company has complied with all corporate governance code provisions as of June 30, 2020, except for the separation of the roles of Chairman and CEO[42] - Mr. Deng Xingqiang serves as both Chairman and CEO, which the board believes provides strong and consistent leadership for the company[42] - The company has adopted the GEM Listing Rules regarding the trading of securities by directors[47] Shareholder Information - The company is owned 30.0% by the investment holding company Xingji Limited, which is controlled by Mr. Deng Xingqiang and Ms. Qu Fengyi, holding 90% and 10% respectively[35] - Ms. Woo Lan Ying holds a beneficial interest in 93,688,000 shares, representing approximately 23.42% of the total issued shares[41] - As of June 30, 2020, there were no share options granted under the company's share option scheme since its adoption, and no options were exercised or lapsed during the period[44] - The company has not disclosed any interests or short positions in shares or related securities by its directors or senior management as of June 30, 2020[40] Strategic Outlook - The company aims to leverage its expertise to capture emerging opportunities in the equipment rental industry and seeks sustainable returns for shareholders[23] - The company continues to evaluate the impact of new accounting standards but has not identified any significant changes to its financial performance[12] Other Information - The company did not declare any dividends for the three months ended June 30, 2020, consistent with the previous year[18] - Other income increased to approximately HKD 169,000 for the three months ended June 30, 2020, compared to HKD 135,000 in 2019, mainly due to government subsidies[28] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ended June 30, 2020[46] - The company does not have any knowledge of any business or interests that may compete with its operations as of June 30, 2020[45] - The executive directors include Mr. Tang Hing Keung (Chairman and CEO), Mr. Tang Ming Hei, and Ms. Au Man Yi[50] - The first quarter performance report for 2020 was presented by Xing Ming Holdings Limited[50]

Financial Performance - The group recorded revenue of approximately HKD 55.2 million for the fiscal year ending March 31, 2020, an increase of about HKD 7.1 million or 14.7% compared to HKD 48.2 million in the previous fiscal year[7]. - The group's profit before tax was approximately HKD 6.8 million, a decrease of about HKD 2.9 million or 29.7% from HKD 9.6 million in the previous fiscal year, primarily due to lower gross margins and increased costs[7]. - The company recorded a total profit and comprehensive income of approximately HKD 1.1 million for fiscal year 2020, a decrease from approximately HKD 6.3 million in fiscal year 2019, attributed to lower gross profit from the sale of temporary cranes and increased income tax expenses[22]. - The cost of sales and services rose by approximately 28.9% to about HKD 35.4 million in fiscal year 2020, up from HKD 27.4 million in fiscal year 2019, primarily due to increased depreciation expenses for tower cranes[18]. - Gross profit decreased by approximately 4.2% to about HKD 19.8 million in fiscal year 2020, with a gross margin of approximately 35.9%, down from 43.0% in fiscal year 2019[19]. - Administrative expenses increased by approximately 18.9% to about HKD 12.7 million in fiscal year 2020, up from HKD 10.7 million in fiscal year 2019, mainly due to provisions for receivables and management performance bonuses[21]. Market Outlook - The group remains optimistic about the prospects of the Hong Kong construction market despite ongoing COVID-19 challenges and macroeconomic pressures[8]. - The demand for temporary cranes and tower cranes is expected to remain strong in the coming years due to the increasing applications for public housing in Hong Kong[11]. - The group is actively seeking other business opportunities within the Hong Kong construction industry to create sustainable returns for shareholders[14]. Business Strategy - The group plans to continue focusing on its core business while increasing marketing efforts and improving production efficiency[8]. - The group aims to lead the development of the temporary crane industry by providing high-quality equipment and services while seizing emerging opportunities in the rental equipment sector[13]. - The company plans to continuously evaluate its business objectives and adjust strategies based on market developments[41]. Capital Expenditures and Financial Position - Capital expenditures for fiscal year 2020 totaled approximately HKD 37.4 million, slightly up from HKD 37.2 million in fiscal year 2019, with a significant portion allocated to the purchase of additional tower cranes and generators[23]. - As of March 31, 2020, the company had cash and cash equivalents of approximately HKD 22.5 million, down from HKD 37.6 million in fiscal year 2019, primarily due to increased capital expenditures[24]. - The company's lease liabilities were approximately HKD 10.4 million as of March 31, 2020, down from HKD 13.6 million in fiscal year 2019, resulting in a debt-to-equity ratio of approximately 8.7%[24]. Shareholder Information - The company raised approximately HKD 53.3 million from the issuance of 100,000,000 shares at HKD 0.75 per share[40]. - As of March 31, 2020, the company utilized HKD 46.1 million of the net proceeds, leaving HKD 7.2 million unutilized[41]. - The company did not declare or propose any dividends for the fiscal year 2020[70]. - The company has a total of 210,000,000 shares held by major shareholders, representing 52.5% of the issued shares[99]. Corporate Governance - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[43]. - The company has a management team with extensive experience, including over 20 years in engineering and corporate management[64][55]. - The independent non-executive directors bring diverse expertise, including security management and accounting, with over 20 years of experience each[60][58]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee various aspects of the company[161]. - The board held five meetings during the fiscal year 2020, with all executive directors attending all meetings[156]. Risk Management - The board is responsible for assessing the nature and extent of risks acceptable to the company and ensuring effective risk management and internal control systems are in place[184]. - The company has implemented strict internal controls regarding the handling and disclosure of inside information, ensuring compliance with GEM listing rules[185]. - The audit committee, composed of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group for the fiscal year 2020[139]. Employee Information - The company employed 44 full-time employees as of March 31, 2020, down from 53 in fiscal year 2019, with total employee costs of approximately HKD 14.9 million, an increase from HKD 13.6 million in fiscal year 2019[35]. Compliance and Regulations - The company confirmed compliance with all applicable laws and regulations in Hong Kong for the fiscal year 2020[84]. - The company has received annual confirmations from its controlling shareholders regarding compliance with non-competition agreements[124].

Financial Performance - Revenue for the three months ended December 31, 2019, was HKD 11,480,000, a decrease of 20.9% compared to HKD 14,377,000 for the same period in 2018[4] - Gross profit for the nine months ended December 31, 2019, was HKD 16,231,000, down 13.7% from HKD 17,423,000 in the previous year[4] - The net profit attributable to owners for the three months ended December 31, 2019, was HKD 2,657,000, representing a decline of 41.1% from HKD 4,512,000 in the same quarter of 2018[4] - Basic and diluted earnings per share for the nine months ended December 31, 2019, were HKD 1.58 cents, down 22.6% from HKD 2.04 cents for the same period in 2018[4] - The total comprehensive income for the nine months ended December 31, 2019, was HKD 6,306,000, a decrease of 22.6% from HKD 8,141,000 in the previous year[4] - For the nine months ended December 31, 2019, total revenue was HKD 41,684,000, an increase from HKD 35,643,000 for the same period in 2018, representing a growth of approximately 16%[16] - The company reported a profit attributable to owners of HKD 6,306,000 for the nine months ended December 31, 2019, compared to HKD 8,141,000 in 2018, reflecting a decline of approximately 22%[21] - Basic earnings per share for the nine months ended December 31, 2019, was HKD 1.58, down from HKD 2.04 in 2018, a decrease of about 23%[21] - The company recorded a revenue increase of approximately 16.9%, rising from about HKD 35.6 million to approximately HKD 41.7 million for the nine months ended December 31, 2019[28] - The company reported a profit of approximately HKD 6.3 million for the nine months ended December 31, 2019, down from approximately HKD 8.1 million in the same period the previous year[35] Expenses and Costs - Administrative expenses for the three months ended December 31, 2019, were HKD 2,316,000, an increase of 9.0% compared to HKD 2,125,000 in the same period of 2018[4] - The cost of sales and services increased by approximately 39.7%, from about HKD 18.2 million to approximately HKD 25.5 million, primarily due to increased depreciation of tower cranes[29] - Gross profit decreased by approximately 6.8% from about HKD 17.4 million to approximately HKD 16.2 million, with a gross margin of approximately 38.9% compared to 48.9% in the previous period[30] - Administrative expenses decreased by approximately 8.3%, from about HKD 7.0 million to approximately HKD 6.5 million, mainly due to a reduction in professional fees[33] Taxation - The group’s income tax expense for the nine months ended December 31, 2019, was HKD 3,229,000, significantly higher than HKD 1,940,000 for the same period in 2018[4] - The income tax expense for the nine months ended December 31, 2019, was HKD 3,229,000, compared to HKD 1,940,000 in 2018, an increase of approximately 66%[19] Corporate Governance and Compliance - The company has complied with all corporate governance code provisions as of December 31, 2019, except for the separation of the roles of Chairman and CEO[43][44] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[50] - There were no purchases, sales, or redemptions of the company's listed securities during the nine months ended December 31, 2019[48] - 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 December 31, 2019[45] Business Strategy and Operations - The company aims to enhance its core business revenue performance through flexible strategies to address market challenges[28] - The company plans to continue adopting a proactive and cautious approach to its business strategy to improve profitability and enhance shareholder value[27] - The increase in revenue was primarily driven by the growth in equipment and parts trading[28] - The company is committed to strengthening its tower crane rental services to capture market demand[28] - The company continues to provide rental services for temporary cranes and other construction equipment, focusing on tower cranes and generators[23] Shareholder Information - The major shareholder, Xing Ji, holds a beneficial interest of 210,000,000 shares, representing 52.5% of the total issued shares[42] - The company has pledged 210,000,000 shares as collateral for a loan provided to a beneficial owner of Xing Ji[42] Financial Reporting Standards - The group continues to adopt new and revised Hong Kong Financial Reporting Standards, which may impact future financial reporting[12] - The company adopted Hong Kong Financial Reporting Standard 16, which affects the accounting treatment of operating leases, recognizing lease liabilities at present value and corresponding right-of-use assets[13] - The company is evaluating the impact of new and revised Hong Kong Financial Reporting Standards on its performance and financial position[16]

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 30,204,000, an increase of 42.2% compared to HKD 21,266,000 for the same period in 2018[3] - Gross profit for the six months ended September 30, 2019, was HKD 10,994,000, representing a 14.2% increase from HKD 9,622,000 in the previous year[3] - Net profit attributable to owners for the six months ended September 30, 2019, was HKD 3,649,000, slightly up from HKD 3,629,000 in the same period of 2018[3] - Basic and diluted earnings per share for the six months ended September 30, 2019, were HKD 0.91, unchanged from the previous year[3] - Profit before tax for the six months ended September 30, 2019, was HKD 3,085,000, compared to HKD 1,093,000 for the same period in 2018[26] - The total tax expense for the six months ended September 30, 2019, was HKD 3,085,000, reflecting an increase from HKD 1,093,000 in 2018[26] - The group recorded a profit of approximately HKD 3.6 million for the six months ended September 30, 2019, maintaining stability compared to the same period last year[48] Revenue Breakdown - Revenue from leasing and related services for the six months ended September 30, 2019, was HKD 20,724,000, up 7.0% from HKD 19,380,000 in 2018[23] - Revenue from equipment and parts trading for the six months ended September 30, 2019, was HKD 9,480,000, significantly increasing from HKD 1,886,000 in 2018[23] - Revenue for the six months ended September 30, 2019, increased by approximately 42.0% to about HKD 30.2 million, compared to approximately HKD 21.3 million for the same period in 2018[41] Expenses and Costs - Cost of sales and services for the six months ended September 30, 2019, was approximately HKD 19.2 million, an increase of about 65.0% from approximately HKD 11.6 million for the same period in 2018[42] - Administrative expenses decreased to HKD 4,144,000 for the six months ended September 30, 2019, down from HKD 4,919,000 in the same period of 2018[3] - Administrative expenses decreased by approximately 15.8% to about HKD 4.1 million for the six months ended September 30, 2019, from approximately HKD 4.9 million for the same period in 2018[46] - Financing costs increased by approximately 81.0% to about HKD 362,000 for the six months ended September 30, 2019, from approximately HKD 200,000 for the same period in 2018[47] Cash Flow and Assets - Cash and cash equivalents decreased to HKD 29,523,000 as of September 30, 2019, down from HKD 37,583,000 at the end of March 2019[11] - Total assets less current liabilities increased to HKD 137,855,000 as of September 30, 2019, compared to HKD 135,328,000 as of March 31, 2019[7] - Non-current assets amounted to HKD 89,681,000 as of September 30, 2019, slightly up from HKD 89,534,000 at the end of March 2019[5] - The group reported a net cash outflow from operating activities of HKD 1,439,000 for the six months ended September 30, 2019, compared to an inflow of HKD 10,646,000 in the previous year[11] - As of September 30, 2019, the group had cash and cash equivalents of approximately HKD 29.5 million, a decrease from HKD 37.6 million as of March 31, 2019, primarily due to property, plant, and equipment purchases[49] Equity and Liabilities - The group’s total equity increased to HKD 122,355,000 as of September 30, 2019, from HKD 118,706,000 as of March 31, 2019[7] - The group’s finance lease payables amounted to approximately HKD 9.8 million as of September 30, 2019, down from HKD 13.6 million as of March 31, 2019, with an effective interest rate of about 6.3%[51] - The group’s debt-to-equity ratio was approximately 8.0% as of September 30, 2019, compared to 11.5% as of March 31, 2019, indicating a solid financial position[51] Corporate Governance and Compliance - The company has complied with all corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[69] - The Audit Committee was established on February 23, 2017, in compliance with corporate governance codes and GEM listing rules[87] - The Audit Committee consists of three independent non-executive directors, with Mr. Zhao Zhi Rong as the chairman[87] - The Audit Committee reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[87] Share Capital and Ownership - The issued share capital of the company was HKD 4,000,000, with a total of 400,000,000 ordinary shares as of September 30, 2019[52] - The company is owned 52.5% by Xingji, which is controlled by Mr. Deng Xingqiang and Ms. Qu Fengyi, holding 90% and 10% respectively[68] - As of September 30, 2019, the company has pledged 210,000,000 shares, representing approximately 52.5% of the issued share capital, as collateral for a loan[68] Events and Future Plans - The company has purchased new motors and components to replace old temporary cranes, aiming to consolidate its market position in the crane industry[77] - The company has acquired additional tower cranes to capture market demand for tower crane rental services, retaining two technical staff and one sales manager to support operations[77] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[74] - The board is not aware of any significant events that require disclosure after September 30, 2019[84]

Financial Performance - The company reported a revenue of HKD 17,901,000 for the three months ended June 30, 2019, representing a 89.1% increase compared to HKD 9,431,000 in the same period of 2018[2] - Gross profit for the same period was HKD 6,555,000, up from HKD 4,068,000, indicating a gross margin improvement[2] - The company achieved a profit before tax of HKD 4,483,000, compared to HKD 1,524,000 in the prior year, reflecting a year-over-year increase of 194.5%[2] - Net profit attributable to the owners of the company for the period was HKD 1,969,000, compared to HKD 1,184,000 in the previous year, marking a 66.4% increase[2] - Basic and diluted earnings per share increased to HKD 0.49 from HKD 0.30, representing a growth of 63.3%[2] - Total comprehensive income for the period increased by approximately 66.3% to about HKD 2.0 million, up from approximately HKD 1.2 million in the same period last year[29] - The cost of sales and services for the three months ended June 30, 2019, was approximately HKD 11.3 million, an increase of about 111.6% from HKD 5.4 million in 2018[23] Revenue Sources - Revenue from leasing and related services was HKD 8,881,000, while equipment and parts trading generated HKD 9,020,000, showing a significant increase in trading activities[11] - The company's revenue for the three months ended June 30, 2019, increased by approximately 89.8% to about HKD 17.9 million, compared to approximately HKD 9.4 million for the same period in 2018[22] Cost Management - Administrative expenses decreased to HKD 2,067,000 from HKD 2,519,000, indicating improved cost management[2] - Administrative expenses decreased by approximately 17.9% to about HKD 2.1 million, down from approximately HKD 2.5 million in the previous year[27] - Financing costs increased by approximately 102.9% to about HKD 140,000, compared to HKD 69,000 in the same period last year[28] Corporate Governance - The company has complied with all corporate governance code provisions as of June 30, 2019, except for the separation of the roles of Chairman and CEO[39] - The audit committee was established on February 23, 2017, in compliance with corporate governance codes and GEM listing rules, consisting of three 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 company has adopted the GEM Listing Rules regarding the conduct of securities trading by its directors[47] Shareholder Information - The company is controlled by a holding company, Xingji, which owns 52.5% of the shares, with Mr. Deng Xingqiang and Ms. Qu Fengyi holding 90% and 10% of Xingji, respectively[32] - As of June 30, 2019, a total of 210,000,000 shares, representing approximately 52.5% of the issued share capital, were pledged as collateral for a loan provided to a beneficial owner of Xingji[35] - The company did not declare any dividends for the three months ended June 30, 2019, consistent with the previous year[15] Business Strategy - The company aims to lead the temporary crane industry by providing high-quality equipment and services, capitalizing on emerging opportunities in the equipment rental sector[20] - The company is actively seeking other business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[20] Leadership Structure - Mr. Deng Xingqiang serves as both the Chairman and CEO, which the board believes provides strong and consistent leadership for the company[40] - The executive directors include the Chairman and CEO, along with three other executive directors, indicating a strong leadership structure[50] Compliance and Notifications - The company has not issued any stock options since the adoption of its stock option plan on February 23, 2017, and there were no stock options exercised or canceled as of June 30, 2019[42] - The company has not received any notifications regarding interests or short positions from its directors or senior management as of June 30, 2019[36] - The company does not have any knowledge of any business or interests that may compete with its operations as of June 30, 2019[43] - The company has not disclosed any interests or short positions in shares or related securities that require notification under the Securities and Futures Ordinance as of June 30, 2019[38] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any member of the group during the three months ended June 30, 2019[46]

Financial Performance - Total revenue for the fiscal year 2019 was approximately HKD 48.2 million, a decrease of about 9.2% compared to the previous year[7] - Gross profit for the fiscal year 2019 was approximately HKD 20.7 million, representing a decline of approximately 24.5% year-on-year[7] - The decrease in revenue was primarily attributed to increased competition in the market and higher depreciation costs affecting gross profit margins[7] - The company recorded a revenue decline of approximately 9.2%, from about HKD 53.0 million in FY2018 to about HKD 48.2 million in FY2019[17] - Gross profit decreased by approximately 24.5% to about HKD 20.7 million in FY2019, with a gross margin of approximately 43.0% compared to 51.7% in FY2018[19] - Other income fell from about HKD 1.9 million in FY2018 to about HKD 0.3 million in FY2019, mainly due to a one-time reimbursement from an insurance service provider[21] - The company reported a total comprehensive income of approximately HKD 6.3 million in FY2019, down from HKD 15.4 million in FY2018[24] - The cost of sales and services increased by approximately 7.2% to about HKD 27.4 million in FY2019, primarily due to additional tower cranes purchased[18] - Administrative expenses increased by approximately 3.1% to about HKD 10.7 million in FY2019, compared to HKD 10.4 million in FY2018[22] - Financing costs rose by approximately 45.5% to about HKD 0.7 million in FY2019, attributed to an increase in outstanding borrowings[23] - The company did not recommend a final dividend for FY2019, consistent with FY2018[34] - The company reported a distributable reserve of approximately HKD 60.3 million as of March 31, 2019[93] - The company did not declare or propose any dividends for the fiscal year 2019[76] Market Strategy and Growth - The company aims to capture potential growth in the Hong Kong construction market despite a challenging business environment[8] - The company plans to explore other potential investment opportunities to diversify its business and create new revenue streams[8] - The demand for temporary cranes and tower cranes is expected to remain strong due to the increasing applications for public housing in Hong Kong[11] - The group purchased seven tower cranes to diversify revenue sources and capture market demand for tower crane rental services[42] - The group allocated HKD 14.0 million to strengthen its market position in the crane industry, with HKD 5.8 million already utilized[45] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the G sector[56] - Market expansion plans include entering two new regions, projected to increase market share by F% over the next 12 months[56] Operational Efficiency and Technology - The company is investing in new technology development, allocating $E million towards R&D initiatives aimed at enhancing operational efficiency[56] - The company reported a decrease in operational costs by I%, attributed to improved supply chain management[56] - The management team is committed to maintaining strong relationships with key suppliers and customers to ensure high-quality products and services[7] - The company has established safety, quality, and environmental management systems to meet customer requirements[87] Corporate Governance - The board consists of nine directors, including four executive directors, responsible for the overall management and operations of the group[48] - The company has adopted an equity incentive plan to reward participants for their contributions to the group[39] - The company emphasizes the importance of good corporate governance elements in its management structure and risk management processes[149] - The board is responsible for overseeing the company's business management and overall performance, ensuring necessary financial and human resources are in place[152] - The company has established a formal and transparent procedure for determining the remuneration of directors and senior management, ensuring fairness and reasonableness[176] - The board must review its structure and composition at least annually, considering diversity and the skills and experience of its members[180] - The company has a policy for the appointment and re-election of directors, ensuring that all directors are subject to re-election at least every three years[183] Human Resources - The group employed 53 full-time employees as of March 31, 2019, down from 56 in 2018, with employee costs approximately HKD 13.6 million, a decrease from HKD 14.6 million in the previous fiscal year[39] - The company’s management aims to reward and recognize performing employees through competitive compensation and appropriate training opportunities[83] - The company encourages all directors to participate in relevant training courses, with costs covered by the company[158] Shareholder Information - The net proceeds from the share offering amounted to approximately HKD 53.3 million after deducting listing expenses, with the offering consisting of 100,000,000 new shares at HKD 0.75 per share[44] - As of March 31, 2019, the actual utilization of the net proceeds was HKD 45.1 million, leaving HKD 8.2 million unutilized[45] - The company is owned 52.5% by Xingji Limited, which is controlled by Mr. Tang Xingqiang (90% ownership) and Ms. Qu Fengyi (10% ownership)[114] - The company’s major shareholders include Mr. Tang Hing Keung and Ms. Au Fung Yi, each holding 52.5% of the issued shares through a controlled corporation[104] Audit and Compliance - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group for the fiscal year 2019[145] - The company has appointed Tianzhi Hong Kong CPA as its auditor effective from March 1, 2019, to fill the temporary vacancy after the resignation of Hong Kong Lixin Dehao CPA[146] - The board of directors confirmed that there were no significant events affecting the group since the end of the fiscal year 2019[86] - The company has established procedures for handling and disclosing inside information in compliance with the Securities and Futures Ordinance and GEM Listing Rules[192] Risk Management - The company’s financial performance and outlook are influenced by various risks and uncertainties, as detailed in the prospectus[81] - The company’s financial risk management objectives and policies are outlined in the consolidated financial statements[81] - The board believes that the risk management and internal control systems of the group are adequate and effective, having been reviewed by the audit committee during the fiscal year 2019[191]

Financial Performance - Revenue for the three months ended December 31, 2018, was HKD 14,377,000, an increase of 13.4% compared to HKD 12,677,000 for the same period in 2017[4] - Gross profit for the nine months ended December 31, 2018, was HKD 17,423,000, a decrease of 6.6% from HKD 18,657,000 in the same period of 2017[4] - The net profit attributable to owners for the three months ended December 31, 2018, was HKD 4,512,000, slightly up from HKD 4,490,000 in the same period of 2017[4] - Basic and diluted earnings per share for the nine months ended December 31, 2018, were HKD 2.04 cents, down from HKD 2.46 cents in the same period of 2017, representing a decrease of 17.1%[4] - The total comprehensive income for the nine months ended December 31, 2018, was HKD 8,141,000, down from HKD 9,844,000 in the same period of 2017, reflecting a decrease of 17.3%[4] - The company's revenue for the nine months ended December 31, 2018, decreased by approximately 10.9% to about HKD 35.6 million, compared to approximately HKD 40.0 million for the same period in 2017[22] - Revenue from leasing and related services was HKD 31.9 million for the nine months ended December 31, 2018, down from HKD 32.4 million in 2017, while equipment and parts trading revenue fell to HKD 3.7 million from HKD 7.6 million[12] - The gross profit decreased by approximately 6.6% to about HKD 17.4 million for the nine months ended December 31, 2018, compared to approximately HKD 18.7 million in 2017, with a gross margin increase to approximately 48.9% from 46.6%[24] - The cost of sales and services for the nine months ended December 31, 2018, was approximately HKD 18.2 million, a decrease of about 14.6% from HKD 21.3 million in 2017[23] - The company's basic earnings per share for the nine months ended December 31, 2018, was HKD 2.04, down from HKD 2.46 in 2017, with a profit attributable to shareholders of HKD 8.1 million compared to HKD 9.8 million in the previous year[18] Expenses and Costs - Administrative expenses for the three months ended December 31, 2018, were HKD 2,125,000, a decrease of 12.9% compared to HKD 2,442,000 in the same period of 2017[4] - Administrative expenses decreased by approximately 9.2% to about HKD 7.0 million for the nine months ended December 31, 2018, from approximately HKD 7.8 million in 2017[27] - The company reported financing costs of HKD 330,000 for the three months ended December 31, 2018, compared to HKD 92,000 in the same period of 2017, indicating a significant increase[4] - Financing costs increased by approximately HKD 135,000 or about 34.2% to approximately HKD 530,000 for the nine months ended December 31, 2018, compared to approximately HKD 395,000 for the same period in 2017[28] - The income tax expense for the nine months ended December 31, 2018, was HKD 1.94 million, compared to HKD 1.74 million in 2017[15] Shareholder Information - The total equity as of December 31, 2018, was HKD 121,357,000, an increase from HKD 97,842,000 as of April 1, 2017[5] - The company did not declare any dividends for the nine months ended December 31, 2018, consistent with the previous year[17] - The company is 52.5% owned by the holding company Xingji, which is controlled by Mr. Deng Xingqiang and Ms. Qu Fengyi, holding 90% and 10% respectively[31] - As of January 8, 2019, the holding company pledged a total of 210,000,000 shares, representing approximately 52.5% of the issued share capital, as collateral for a loan[37] - A share purchase agreement was signed on January 8, 2019, for the sale of 100,000,000 shares, which represents 25% of the company's issued share capital[39] - The company has not completed the aforementioned share sale transaction as of the report publication date[40] Corporate Governance - The company has not separated the roles of Chairman and CEO, as Mr. Deng Xingqiang has been managing the group since its establishment in 1997, which the board believes is beneficial for operations[42] - The company has not granted any stock options since the adoption of the stock option plan, resulting in no unexercised stock options as of December 31, 2018[44] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any member of the group during the nine months ended December 31, 2018[48] - The audit committee, established on February 23, 2017, includes three independent non-executive directors and has reviewed the unaudited consolidated financial statements, ensuring compliance with applicable accounting standards and GEM listing rules[50] Business Strategy - The company aims to leverage its expertise to capture emerging opportunities in the equipment leasing industry and lead the development of the temporary crane sector[20] - The company is actively seeking other business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[20] Accounting Standards - The company has not applied new accounting standards that have been issued but are not yet effective, and is currently assessing their potential impact[8]