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].

Financial Performance - For the three months ended December 31, 2020, the company's revenue was HKD 11,170,000, a decrease of 2.7% compared to HKD 11,480,000 for the same period in 2019[3] - The gross profit for the nine months ended December 31, 2020, was HKD 16,180,000, slightly down from HKD 16,231,000 in the same period of 2019, reflecting a decrease of 0.3%[3] - The company reported a net loss attributable to shareholders of HKD 790,000 for the three months ended December 31, 2020, compared to a profit of HKD 2,657,000 in the same period of 2019[3] - Total comprehensive income for the nine months ended December 31, 2020, was HKD 6,127,000, compared to HKD 6,306,000 for the same period in 2019, indicating a decrease of 2.8%[4] - For the nine months ended December 31, 2020, the company's revenue decreased by approximately 4.8% to about HKD 39.7 million, compared to approximately HKD 41.7 million for the same period in 2019[25] - Total profit and comprehensive income slightly decreased by about 2.8% to approximately HKD 6.1 million for the nine months ended December 31, 2020, primarily due to increased administrative expenses[35] Revenue and Expenses - The company’s rental and related services revenue for the nine months ended December 31, 2020, increased to HKD 34,092,000 from HKD 31,743,000 in 2019, representing a growth of 7.4%[11] - The cost of sales for the three months ended December 31, 2020, was HKD 7,358,000, up from HKD 6,243,000 in the same period of 2019, reflecting an increase of 17.9%[3] - The cost of sales and services for the nine months ended December 31, 2020, was approximately HKD 23.5 million, a decrease of about 7.7% from approximately HKD 25.5 million in 2019[29] - Administrative expenses for the nine months ended December 31, 2020, rose to HKD 9,986,000 from HKD 6,460,000 in 2019, marking an increase of 54.1%[3] - Administrative expenses increased by approximately HKD 3.5 million or 54.6% to about HKD 10.0 million for the nine months ended December 31, 2020, primarily due to performance bonuses paid to directors and employees amounting to approximately HKD 3.3 million[33] Earnings Per Share - The basic and diluted loss per share for the three months ended December 31, 2020, was HKD 0.20, compared to earnings of HKD 0.66 per share in the same period of 2019[3] - The basic loss per share for the three months ended December 31, 2020, was HKD (0.20), while the basic earnings per share for the same period in 2019 was HKD 0.66[20] Financing and Costs - The company’s financing costs decreased to HKD 318,000 for the nine months ended December 31, 2020, down from HKD 501,000 in the same period of 2019, a reduction of 36.4%[3] - Financing costs decreased by approximately HKD 183,000 or 36.5% to about HKD 318,000 for the nine months ended December 31, 2020, mainly due to a reduction in financing liabilities under crane financing leases[34] Equity and Dividends - The total equity of the company as of December 31, 2020, was HKD 125,937,000, an increase from HKD 125,012,000 as of December 31, 2019[4] - The company did not declare any dividends for the nine months ended December 31, 2020, consistent with 2019[18] Other Income and Strategy - Other income for the nine months ended December 31, 2020, was approximately HKD 1.8 million, compared to about HKD 265,000 in 2019, primarily due to COVID-19 relief fund subsidies[32] - The company plans to adopt a proactive and cautious approach to its business strategy in response to the ongoing COVID-19 pandemic[27] Depreciation and Assets - The depreciation expense for property, plant, and equipment for the nine months ended December 31, 2020, was HKD 10.56 million, compared to HKD 8.50 million in 2019[15] Ownership and Governance - The company is 30.0% owned by Xingji, which is controlled by Mr. Deng Xingqiang and Ms. Qu Fengyi, holding 90% and 10% respectively[38] - Woo Lan Ying holds a beneficial interest in 93,688,000 shares, representing approximately 23.42% of the total issued shares[42] - The audit committee, established on February 23, 2017, includes three independent non-executive directors and is responsible for reviewing financial reporting procedures and risk management[52] - The audit committee has reviewed the unaudited consolidated financial statements and believes they comply with applicable accounting standards and GEM listing rules[52] Share Options and Securities - No share options have been granted since the adoption of the share option scheme, and there were no unexercised options as of December 31, 2020[48] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2020[50]

股份代號：8425 2020 中期報 告 香港聯合交易所有限公司（「聯交所」）GEM之特色 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。有意投資之人士應了解投資於該 等公司之潛在風險，並應經過審慎周詳之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買賣之證券可能會較於聯交所 主板買賣之證券承受較大之市場波動風險，同時無法保證在GEM買賣之證券 將會有高流通量之市場。 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份內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 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， 旨在提供有關興銘控股有限公司（「本公司」）的資料；本公司的董事（「董事」） 願就本報告的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢 後，確認就其所知及所信，本報告所載資料在各重要方面均屬準確完備，沒 有誤導或欺詐成份，並無遺漏其他事項致使本報告所載任何陳述或本報告產 生誤導。 中期業績 董 ...

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]