Financial Performance - The company's revenue for the six months ended September 30, 2022, was HKD 14,257,000, a significant increase of 164% compared to HKD 5,396,000 for the same period in 2021[4] - Gross profit for the six months ended September 30, 2022, was HKD 7,867,000, representing a gross margin of approximately 55.2%, compared to HKD 2,813,000 in the previous year[4] - The company reported a net loss of HKD 108,000 for the six months ended September 30, 2022, an improvement from a net loss of HKD 3,428,000 in the same period of 2021[4] - The company’s basic earnings per share for the six months ended September 30, 2022, was HKD 0.04, compared to a loss per share of HKD 0.26 in the same period of 2021[4] - The company recorded a loss before tax of HKD 108,000 for the six months ended September 30, 2022, compared to a loss of HKD 3,428,000 for the same period in 2021[20] - The company reported a profit attributable to shareholders of HKD 680,000 for the three months ended September 30, 2022, compared to HKD 356,000 for the same period in 2021, representing an increase of 91%[28] - The net loss decreased from approximately HKD 3,400,000 for the six months ended September 30, 2021, to approximately HKD 100,000 for the six months ended September 30, 2022, with a net profit of HKD 700,000 recorded for the three months ended September 30, 2022[59] Cash Flow and Assets - Operating cash flow for the six months ended September 30, 2022, was HKD 1,692,000, compared to a cash outflow of HKD 2,465,000 in the previous year[10] - Total assets as of September 30, 2022, were HKD 78,126,000, an increase from HKD 72,875,000 as of March 31, 2022[5] - The company's current assets net value increased to HKD 18,333,000 as of September 30, 2022, from HKD 16,603,000 as of March 31, 2022[6] - The company’s cash and cash equivalents decreased to HKD 233,000 as of September 30, 2022, from HKD 107,000 as of March 31, 2022[5] - Contract assets totaled HKD 70,398,000 as of September 30, 2022, compared to HKD 66,654,000 as of March 31, 2022, indicating a growth of approximately 5.2%[30] - Trade receivables increased to HKD 6,514,000 as of September 30, 2022, up from HKD 5,395,000 as of March 31, 2022, reflecting a growth of approximately 20.8%[34] - Trade payables decreased significantly to HKD 6,842,000 as of September 30, 2022, down from HKD 13,681,000 as of March 31, 2022, a reduction of about 50%[38] - The total bank borrowings amounted to HKD 8,507,000 as of September 30, 2022, a decrease from HKD 9,181,000 as of March 31, 2022, representing a decline of approximately 7.3%[39] Revenue Sources - The construction management services segment generated revenue of HKD 14,257,000 for the six months ended September 30, 2022, with a segment profit of HKD 7,867,000[20] - Revenue from external customers in Hong Kong for the six months ended September 30, 2022, was HKD 7,542,000, up from HKD 5,164,000 in the same period of 2021, representing a growth of 46%[21] - Revenue from mainland China for the six months ended September 30, 2022, was HKD 6,715,000, compared to HKD 0 in the same period of 2021[21] - The company’s revenue from major clients included HKD 6,715,000 from Client A for the six months ended September 30, 2022, which accounted for over 10% of total revenue[22] Expenses and Costs - Total employee costs for the six months ended September 30, 2022, amounted to HKD 2,660,000, down from HKD 4,087,000 in the same period of 2021, reflecting a decrease of 35%[24] - The company’s administrative expenses for the six months ended September 30, 2022, were HKD 7,806,000, compared to HKD 5,984,000 for the same period in 2021[20] - Service costs rose by approximately 3,800,000 HKD or 247.4% to about 6,400,000 HKD for the six months ended September 30, 2022, from approximately 2,600,000 HKD for the same period in 2021[52] - Financing costs decreased by approximately 200,000 HKD or 49.2% to about 200,000 HKD for the six months ended September 30, 2022, primarily due to a reduction in average bank borrowing levels[57] Corporate Governance and Management - The company has adopted a code of conduct for directors regarding securities trading, with no violations reported during the reporting period[92] - The company has established an audit committee responsible for reviewing financial statements and monitoring risk management procedures[101] - The company has appointed a new CEO and Chairman, Wang Yonghong, effective October 5, 2022, following the resignation of the previous CEO[93] - The company emphasized the importance of good corporate governance for long-term success and value creation for shareholders[96] - The company has complied with all applicable provisions of the corporate governance code during the reporting period[99] Future Outlook and Strategy - The company anticipates recognizing revenue of approximately 25,000,000 HKD from four construction management projects over the next 18 months[50] - The company plans to expand its business into the Greater Bay Area while continuing to participate in tenders from various construction or property development companies in Hong Kong[48] - The company will continuously review its existing business and seek potential business and investment opportunities to diversify its revenue sources[47] - The company plans to continue focusing on its operations in Hong Kong while expanding its business into mainland China, exploring potential profitable business and investment opportunities[104] Shareholder Information - The company has issued and allotted 260,000,000 new shares as of April 11, 2022, increasing the total issued and paid-up shares to 1,617,000,000[12] - The issued share capital increased to HKD 16,170,000 as of September 30, 2022, from HKD 13,000,000 as of March 31, 2022, with the number of shares rising to 1,617,000,000[65] - Harmony Asia International holds 652,290,000 shares, representing 40.34% of the total shares[78] - Song Chenglei owns 260,000,000 shares, accounting for 16.08% of the total shares[78] - Chen Mingxia holds 243,750,000 shares, which is 15.07% of the total shares[78] - The stock option plan allows for a maximum of 130,000,000 shares to be issued, which is 10% of the total shares as of the plan's adoption date[80] - As of September 30, 2022, a total of 130,000,000 stock options were granted, with 57,000,000 options exercised during the period[83] Risks and Challenges - The company faces risks related to project-based revenue, which is influenced by contract terms, project duration, and market conditions[87] - The company acknowledged that large-scale projects may significantly impact its operational and financial performance due to resource allocation constraints[91] - The company reported that its construction management business relies on progress payments based on contract completion percentages, which could adversely affect liquidity if clients fail to pay on time[91] - The company has not disclosed any additional significant risks or uncertainties beyond those mentioned[89]

Financial Performance - The group reported revenue of HKD 7,618,000 for the three months ended June 30, 2022, compared to HKD 1,745,000 for the same period in 2021, representing a growth of 336%[4] - Gross profit for the same period was HKD 3,327,000, significantly up from HKD 421,000 in the previous year, indicating a substantial increase in profitability[4] - The group incurred a loss before tax of HKD 819,000, an improvement from a loss of HKD 3,784,000 in the prior year, reflecting a reduction in losses by approximately 78%[4] - Basic and diluted loss per share improved to HKD 0.06 from HKD 0.29 year-over-year, showing a decrease in loss per share by 79%[4] - Total revenue increased by approximately 5,900,000 HKD or 337% to about 7,600,000 HKD for the three months ended June 30, 2022, compared to approximately 1,700,000 HKD for the same period in 2021[27] - Gross profit rose by approximately 2,900,000 HKD or 690% to about 3,300,000 HKD for the three months ended June 30, 2022, with a gross margin increase from approximately 24.1% to 43.7%[30] - Net loss for the three months ended June 30, 2022, was approximately 800,000 HKD, a reduction from a net loss of approximately 3,800,000 HKD for the same period in 2021[35] Revenue Sources - Revenue from construction management services in Hong Kong was HKD 3,332,000, up from HKD 1,745,000 in the previous year, marking a growth of 91%[15] - Revenue from construction management services in mainland China was HKD 4,286,000, indicating the expansion of operations into new markets[15] - The company anticipates confirming revenue of over 30,000,000 HKD from four construction management projects within the next 18 to 21 months[26] Operational Challenges and Strategies - The company is actively seeking investment opportunities in Hong Kong and mainland China to improve cash flow[12] - The management remains optimistic about the long-term business outlook in Hong Kong, mainland China, and Macau despite facing challenges such as high labor costs and skilled labor shortages[23] - The group aims to implement stronger measures to improve operational funding and cash flow management[13] Financing and Capital Management - The group plans to explore fundraising activities such as placements or share subscriptions to meet repayment obligations[12] - The board is considering other financing arrangements to increase capital and support ongoing growth[12] - Financing costs decreased by approximately 100,000 HKD or 62.1% to about 80,000 HKD for the three months ended June 30, 2022[33] Shareholder Information - The company experienced a significant increase in issued shares from 1,560,000,000 to 1,617,000,000 due to the exercise of 57,000,000 share options at a price of HKD 0.0342 per share[39] - As of June 30, 2022, Mr. Lan holds 652,290,000 shares, representing 41.81% of the total shares, through Harmony Asia International Limited[42] - Major shareholders include Mr. Song Chenglei with 260,000,000 shares (16.67%) and Ms. Chen Mingxia with 243,750,000 shares (15.63%) as of June 30, 2022[44] Corporate Governance - The company has complied with all applicable corporate governance code provisions during the reporting period[53] - The board believes that Mr. Lan's dual role as Chairman and CEO is in the best interest of the company for effective management and business development[52] - The audit committee was established according to GEM Listing Rules and consists of three independent non-executive directors[56] - The audit committee reviewed the unaudited consolidated results for the three months ended June 30, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[56] Miscellaneous - The company has no plans to declare dividends for the three months ended June 30, 2022, consistent with the same period in 2021[20] - The company has fully utilized the net proceeds of approximately HKD 38,000,000 from its initial public offering for the intended purposes as outlined in the prospectus[48] - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending June 30, 2022[49] - The company adopted a share option scheme on May 12, 2017, and granted 130,000,000 share options on April 27, 2022[46] - The company expressed gratitude to customers, subcontractors, business partners, and shareholders for their continued support[58] - The executive directors include the chairman and CEO, along with three other directors, while the audit committee comprises three independent non-executive directors[59]

Financial Performance - For the fiscal year ending March 31, 2022, the company reported unaudited revenue of HKD 6,463,000, a decrease of 75.7% compared to the audited revenue of HKD 26,594,000 for the previous year[6]. - The gross profit for the fiscal year was HKD 2,388,000, representing a slight increase of 1.2% from HKD 2,359,000 in the previous year[6]. - The company incurred a loss before tax of HKD 6,963,000, compared to a loss of HKD 28,935,000 in the previous year, indicating a reduction in losses by 75.8%[6]. - The total comprehensive loss for the year was HKD 6,963,000, compared to HKD 28,935,000 in the previous year, showing a significant improvement in financial performance[6]. - The company reported a total loss attributable to owners of HKD 6,963,000 for 2022, compared to a loss of HKD 28,935,000 in 2021[28]. - The company’s net loss decreased from approximately HKD 28,900,000 for the year ended March 31, 2021, to approximately HKD 6,960,000 for the year ended March 31, 2022, primarily due to significant revenue decline caused by COVID-19 disruptions[35]. - Total revenue decreased by approximately HKD 20,100,000 or 75.7%, from about HKD 26,600,000 for the year ended March 31, 2021, to approximately HKD 6,500,000 for the year ended March 31, 2022[40]. Expenses and Costs - Administrative expenses for the year were HKD 8,928,000, down from HKD 30,182,000 in the previous year, reflecting a decrease of 70.4%[6]. - Employee costs for the group were approximately HKD 6.6 million for the year ended March 31, 2022, down from HKD 10.4 million in 2021[65]. - The company incurred employee costs of HKD 6,636,000 in 2022, down 36.5% from HKD 10,382,000 in 2021[25]. - Financing costs decreased to HKD 544,000 in 2022 from HKD 2,628,000 in 2021, a reduction of 79.3%[24]. - Service costs decreased by approximately HKD 20,200,000 or 83.2%, from about HKD 24,200,000 for the year ended March 31, 2021, to approximately HKD 4,100,000 for the year ended March 31, 2022[43]. - Other income decreased from approximately HKD 1,500,000 for the year ended March 31, 2021, to approximately HKD 120,000 for the year ended March 31, 2022, due to the absence of government subsidies[45]. Assets and Liabilities - Current assets decreased to HKD 96,638,000 from HKD 114,560,000, a decline of 15.6% year-over-year[7]. - Current liabilities increased to HKD 57,216,000 from HKD 68,111,000, a decrease of 16.0% compared to the previous year[7]. - The company's net current assets were HKD 39,422,000, down from HKD 46,449,000, indicating a decline of 15.5%[7]. - The company's net asset value increased from HKD 40,535,000 in 2021 to HKD 47,498,000 in 2022, representing a growth of approximately 17.5%[9]. - Total equity decreased from HKD 47,498,000 in 2021 to HKD 40,535,000 in 2022, indicating a decline of about 14.6%[11]. - The company's capital and reserves showed a decrease from HKD 34,498,000 in 2021 to HKD 27,535,000 in 2022, reflecting a reduction of approximately 20.1%[9]. - The accumulated losses increased from HKD 29,808,000 in 2021 to HKD 36,771,000 in 2022, which is an increase of about 23.3%[11]. - As of March 31, 2022, the total assets of the group were approximately HKD 99.7 million, down from HKD 117.6 million in 2021[53]. - The group's total liabilities and equity were approximately HKD 59.2 million and HKD 40.5 million respectively as of March 31, 2022, compared to HKD 70.1 million and HKD 47.5 million in 2021[53]. - The group's bank borrowings decreased to approximately HKD 12.3 million as of March 31, 2022, from HKD 36.6 million in 2021[53]. - The asset-to-equity ratio improved from approximately 77.1% on March 31, 2021, to about 30.4% on March 31, 2022, due to a reduction in bank borrowings[56]. Corporate Governance and Compliance - The board of directors has confirmed that the unaudited financial information is accurate and complete, ensuring transparency for shareholders and the public[3]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited annual performance for the year ending March 31, 2022, and confirmed compliance with applicable accounting standards[81]. - The company has adhered to all applicable corporate governance code provisions during the reporting period[70]. - The company has established a code of conduct for directors regarding securities trading, with no violations reported during the reporting period[76]. - The company confirmed compliance with a non-competition agreement with Harmony Asia International for the fiscal year ending March 31, 2022[79]. - There were no significant changes in the company's performance, financial position, or outlook that were not communicated to the board[73]. Future Outlook and Plans - The company anticipates that the adoption of new and revised Hong Kong Financial Reporting Standards will not have a significant impact on its financial statements in the foreseeable future[19]. - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[18]. - The company aims to expand its business into the Greater Bay Area while actively participating in the tendering process for several construction or property development companies in Hong Kong[39]. - The company anticipates confirming revenue of over HKD 30,000,000 from four construction management projects within the next 18 to 24 months[39]. - The company has no plans for new product launches or market expansions mentioned in the conference call[34]. Shareholder Information - The company did not declare or recommend any dividends for the year ended March 31, 2022, consistent with 2021[30]. - The group did not declare or propose any dividends for the years ended March 31, 2022, and 2021[52]. - Shareholders and potential investors are advised to exercise caution when trading the company's securities as the financial data is unaudited and not approved by auditors[89].

Financial Performance - The company's revenue for the three months ended December 31, 2021, was HKD 285,000, a decrease of 94.2% compared to HKD 4,965,000 in the same period of 2020[5] - For the nine months ended December 31, 2021, the revenue was HKD 5,681,000, down 74.3% from HKD 22,176,000 in the previous year[5] - The gross profit for the three months ended December 31, 2021, was HKD 16,000, compared to HKD 284,000 in the same period of 2020, reflecting a significant decline[5] - The total comprehensive loss for the nine months ended December 31, 2021, was HKD 6,798,000, an improvement from a loss of HKD 13,471,000 in the same period of 2020[5] - The basic and diluted loss per share for the nine months ended December 31, 2021, was HKD 0.52, compared to HKD 1.04 in the same period of 2020[5] - The net loss for the nine months ended December 31, 2021, was approximately 6,800,000 HKD, a reduction from about 13,500,000 HKD for the same period in 2020[23] - The company recorded a basic and diluted loss per share of 5.23 HKD for the nine months ended December 31, 2021, compared to 10.37 HKD for the same period in 2020[21] Cost Management - Administrative expenses for the nine months ended December 31, 2021, were HKD 9,297,000, a decrease of 38.3% from HKD 15,047,000 in the previous year[5] - The company reported a financing cost of HKD 406,000 for the nine months ended December 31, 2021, down from HKD 2,173,000 in the same period of 2020[5] - The total labor cost for the nine months ended December 31, 2021, was 5,045,000 HKD, down from 9,807,000 HKD in the same period of 2020[4] - The service costs decreased by approximately 17,100,000 HKD or 85.7% to about 2,900,000 HKD for the nine months ended December 31, 2021, compared to approximately 20,000,000 HKD for the same period in 2020[30] - Administrative expenses decreased by approximately HKD 5,800,000 or 38% from about HKD 15,000,000 for the nine months ended December 31, 2020, to about HKD 9,300,000 for the nine months ended December 31, 2021[33] - Financing costs decreased by approximately HKD 1,800,000 or 81.3% from about HKD 2,200,000 for the nine months ended December 31, 2020, to about HKD 400,000 for the nine months ended December 31, 2021, mainly due to a decrease in average bank borrowings[35] Operational Challenges - The company faced significant challenges due to COVID-19, which impacted its operations and financial condition, leading to a substantial decline in revenue[23] - The company has implemented cost-cutting measures to minimize cash flow, payroll, and general expenses in response to the challenges posed by COVID-19[26] Business Strategy - The company plans to explore opportunities for business diversification and expansion in Hong Kong, Macau, and mainland China[26] - The company anticipates continued competition in project acquisition and will closely monitor project progress and costs to enhance competitiveness[24] Equity and Dividends - The total equity as of December 31, 2021, was HKD 40,700,000, a decrease from HKD 62,962,000 as of December 31, 2020[6] - The company did not declare or propose any dividends for the nine months ended December 31, 2021, consistent with the same period in 2020[20] - No dividends were declared or proposed for the nine months ended December 31, 2021, and December 31, 2020[39] Other Financial Information - The company has not adopted any new accounting standards that have not yet come into effect[10] - The company did not incur any taxable profits in Hong Kong and Macau, resulting in no income tax expenses for the periods ended December 31, 2021, and December 31, 2020[36] - The net proceeds from the IPO, amounting to approximately HKD 38,000,000, have been fully utilized as of December 31, 2021[50] - The company reported a total of HKD 38.0 million in net proceeds as of December 31, 2020, with HKD 22.5 million remaining unutilized[51] - The company allocated HKD 19.4 million to consolidate its industry position and expand its business[51] - HKD 7.6 million was used to repay bank loans, with an additional HKD 20.0 million available for future repayments[51] - The establishment of a Macau office/warehouse cost HKD 2.5 million, with HKD 2.3 million remaining unutilized[51] Corporate Governance - The company has adopted a code of conduct for directors regarding securities trading, with no violations reported during the reporting period[53] - The audit committee reviewed the unaudited consolidated results for the nine months ending December 31, 2021, and confirmed compliance with applicable accounting standards[58] - The company emphasizes the importance of good corporate governance for long-term success and has adhered to the GEM listing rules[54] - Management provided quarterly updates on the company's performance and financial status to the board, despite a temporary gap in monthly updates due to a change in the CFO[55] - The company expressed gratitude to customers, subcontractors, business partners, and shareholders for their continued support[59]

Financial Performance - The company's revenue for the three months ended June 30, 2021, was HKD 1,745,000, a decrease of 79% compared to HKD 8,362,000 for the same period in 2020[5] - Gross profit for the same period was HKD 421,000, down 55% from HKD 931,000 year-over-year[5] - The company reported a loss before tax of HKD 3,784,000, compared to a loss of HKD 7,627,000 in the previous year, indicating a 50% improvement in losses[5] - Basic and diluted loss per share was HKD 0.29, compared to HKD 0.59 for the same period in 2020[5] - The total comprehensive loss for the period was HKD 3,784,000, compared to HKD 7,627,000 in the prior year, showing a reduction of 50%[5] - The net loss for the three months ended June 30, 2021, was approximately 3,800,000 HKD, a reduction from a net loss of approximately 7,600,000 HKD for the same period in 2020[24] - The gross profit decreased by approximately 500,000 HKD or 54.7% to about 400,000 HKD for the three months ended June 30, 2021, compared to approximately 900,000 HKD for the same period in 2020[31] - The company recorded a net loss of approximately HKD 3,800,000 for the three months ended June 30, 2021, compared to a net loss of approximately HKD 7,600,000 for the same period in 2020, representing a 50% improvement in losses year-over-year[37] Expenses and Cost Management - Administrative expenses decreased to HKD 4,002,000 from HKD 8,585,000, reflecting a reduction of 53%[5] - The service costs decreased by approximately 6,100,000 HKD or 82% to about 1,300,000 HKD for the three months ended June 30, 2021, compared to approximately 7,400,000 HKD for the same period in 2020[30] - The administrative expenses decreased by approximately 4,500,000 HKD or 53% to about 4,000,000 HKD for the three months ended June 30, 2021, compared to approximately 8,600,000 HKD for the same period in 2020[33] - The financing costs decreased by approximately 500,000 HKD or 66.8% to about 200,000 HKD for the three months ended June 30, 2021, compared to approximately 700,000 HKD for the same period in 2020[35] - The company has implemented cost-cutting measures to minimize cash flow and general expenses while controlling capital expenditures[26] Business Operations and Strategy - The company continues to focus on providing design, procurement, and installation services for water circulation systems, which remains its core business[8] - The company anticipates that the business environment in Hong Kong and Macau will continue to be affected by COVID-19, leading to challenges in obtaining new projects[24] - The company plans to explore opportunities for business diversification and expansion in Hong Kong, Macau, and mainland China[26] Shareholder and Corporate Governance - The company’s total equity as of June 30, 2021, was HKD 43,714,000, down from HKD 68,806,000 a year earlier[6] - The company did not declare or recommend any dividends for the three months ended June 30, 2021, consistent with the same period in 2020[20] - The company has not granted, exercised, or allowed any stock options to expire or lapse during the three months ended June 30, 2021[49] - The company has not purchased, sold, or redeemed any of its listed securities during the three months ended June 30, 2021[53] - The company’s major shareholder, Mr. Lan, holds 652,290,000 shares, representing 50.18% of the total shares[44] - Ms. Chan holds 243,750,000 shares, representing 18.75% of the total shares[46] - The company has adopted a code of conduct regarding securities trading by directors, with no violations reported during the reporting period[54] - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15, ensuring proper regulation of business activities and decision-making processes[55] - The company has maintained good corporate governance standards and procedures to enhance accountability and transparency, safeguarding shareholder interests[55] - The company has not identified any business or interests that may compete with its operations from its directors or controlling shareholders[61] Management and Oversight - The company has appointed Mr. Li Guan Yan as the Chief Financial Officer and Company Secretary effective from July 15, 2021[58] - The Audit Committee has reviewed the unaudited consolidated results for the three months ended June 30, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[62] - The Audit Committee consists of three independent non-executive directors, ensuring effective oversight of financial reporting and risk management processes[62] - The company has committed to providing monthly updates to the board regarding performance, financial condition, and outlook, although there was a gap in updates due to the transition of the CFO[58] - The company believes that the dual role of the Chairman and CEO is in the best interest of effective management and business development[55] Acknowledgments - The company expresses gratitude to customers, subcontractors, business partners, and shareholders for their continued support[64]

Financial Performance - The total revenue for the fiscal year ended March 31, 2021, decreased by approximately HKD 60.5 million or 69.5% to about HKD 26.6 million from approximately HKD 87.1 million for the fiscal year ended March 31, 2020[8]. - The net loss increased from approximately HKD 21.9 million for the fiscal year ended March 31, 2020, to approximately HKD 28.9 million for the fiscal year ended March 31, 2021[9]. - Total revenue decreased by approximately HKD 60.5 million or 69.5% to about HKD 26.6 million for the year ended March 31, 2021, compared to approximately HKD 87.1 million for the previous year[15]. - Net loss increased by approximately HKD 7 million or 32.1% to about HKD 28.9 million for the year ended March 31, 2021, from approximately HKD 21.9 million for the previous year[24]. - Gross profit decreased by approximately HKD 4.8 million or 67.2% to about HKD 2.4 million for the year ended March 31, 2021, from approximately HKD 7.2 million for the previous year[18]. - Other income increased from approximately HKD 363,000 to about HKD 1.5 million, mainly due to subsidies received under the Employment Support Scheme[20]. - Administrative expenses increased by approximately HKD 3.9 million or 14.7% to about HKD 30.2 million for the year ended March 31, 2021, from approximately HKD 26.3 million for the previous year[21]. - Financing costs decreased by approximately HKD 400,000 or 12.1% to about HKD 2.6 million for the year ended March 31, 2021, compared to approximately HKD 3 million for the previous year[22]. - Total assets decreased to approximately HKD 117.6 million as of March 31, 2021, from approximately HKD 155.1 million as of March 31, 2020[28]. - The debt-to-equity ratio increased from approximately 55.6% to about 77.1% due to the net loss for the year ended March 31, 2021[29]. - The company reported a reserve available for distribution to shareholders of approximately HKD 26,201,000 as of March 31, 2021, down from HKD 58,954,000 in 2020[173]. - The company did not declare a final dividend for the year ended March 31, 2021, consistent with the previous year[168]. Business Environment and Strategy - The company anticipates that the ongoing COVID-19 pandemic will continue to impact the business environment in Hong Kong and Macau in the foreseeable future[10]. - The company plans to explore business diversification or expansion into Hong Kong, Macau, and mainland China to maintain sustainable growth[10]. - The company acknowledges challenges such as high labor costs and skilled labor shortages due to travel restrictions caused by the pandemic[10]. - The company remains optimistic about the long-term business prospects in Hong Kong and Macau despite the adverse factors affecting financial performance, especially in the first half of the fiscal year 2021/2022[10]. - The company will closely monitor the economic environment and continuously assess its business strategies to adapt to challenging market conditions[10]. Corporate Governance - The board consists of six directors, including four executive directors and two independent non-executive directors, with a gender diversity of 71% male and 29% female[48][53]. - The company has complied with all applicable corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[46][42]. - The board acknowledges the importance of diversity in enhancing corporate governance and improving board efficiency[52]. - The company has adopted a board diversity policy to ensure a balanced composition of skills and experiences among board members[54]. - The company has established a remuneration committee to review the overall remuneration policy and structure for all directors and senior management[200]. - The company has adopted a nomination policy to enhance the nomination process and guide the selection of board members[74]. - The company emphasizes the importance of continuous professional development for directors to enhance their knowledge and skills[63]. - The company has not identified any violations of the securities trading code by directors during the fiscal year[61]. - The company is committed to maintaining high standards of corporate governance and has established various committees to oversee specific matters[66]. Employee and Labor Practices - As of March 31, 2021, the group employed 29 employees, a decrease from 37 employees in 2020, with total employee costs amounting to approximately HKD 10.4 million, down from HKD 16.2 million in 2020[40]. - The employee remuneration policy includes competitive salaries and performance-based bonuses, along with retirement and medical benefits[40]. - The company emphasizes equal employment opportunities and adheres to labor laws, ensuring fair treatment in hiring and promotion processes[124]. - The company has complied with all employee compensation and welfare regulations, with no employment disputes or violations reported during the reporting period[128]. - The company has established a safe and healthy work environment, with no recorded incidents of workplace injuries or health hazards during the reporting period[130]. - The company emphasizes continuous employee development and training, supporting participation in internal and external training programs[132]. - The management structure of the company remains stable, indicating a phase of seeking potential business growth[125]. Environmental Responsibility - The company is committed to sustainable development and aims to minimize environmental impact during operations[100]. - Total greenhouse gas emissions decreased by 10.7% from 29.59 tons in 2019/20 to 26.41 tons in 2020/21[103]. - Indirect emissions from electricity usage reduced by 10.8%, from 29.56 tons in 2019/20 to 26.38 tons in 2020/21[103]. - The company has implemented measures to monitor and reduce energy consumption in its Hong Kong office to lower operational costs and greenhouse gas emissions[106]. - The company has established policies to ensure responsible business practices and compliance with legal and regulatory standards[100]. - The company has implemented waste management practices prioritizing reduction, reuse, and recycling, with construction waste being sorted and recycled whenever possible[109]. - The company has engaged with subcontractors to manage emissions effectively, demonstrating a proactive approach to environmental responsibility[113]. - The company continues to monitor resource usage closely, particularly in energy and water, to enhance efficiency and reduce consumption[116]. Risk Management - The company emphasizes the importance of effective internal controls and risk management to protect shareholder interests, with regular reviews conducted by the audit committee[79]. - The company has established a series of risk management policies and measures to identify key risks associated with its operations and market environment[79]. - The board believes that the internal control systems are effective and sufficient for the current business model and environment as of March 31, 2021[81]. Shareholder Engagement - The company encourages ongoing communication with shareholders through various channels, including announcements and reports[93]. - The next annual general meeting is scheduled for September 3, 2021, with notifications to be sent at least 20 business days in advance[87]. - The company held its annual general meeting on August 28, 2020, to seek shareholder approval for various matters, including the re-election of directors[87]. Quality Assurance - The company has implemented strict quality assurance measures for its water circulation systems, ensuring compliance with government regulations and reducing risks associated with defective products[141]. - There were no quality claims reported during the reporting period that adversely affected the company's business[142]. Community Engagement - Community engagement is recognized as vital for long-term development, with the company supporting employee volunteerism and investing in youth education through internship programs[149].

Financial Performance - For the nine months ended December 31, 2020, the company reported total revenue of HKD 22,176,000, a decrease of 72.5% compared to HKD 80,431,000 for the same period in 2019[5] - The gross profit for the nine months was HKD 2,250,000, down 69.3% from HKD 7,338,000 in the previous year[5] - The company incurred a loss before tax of HKD 13,471,000 for the nine months, compared to a loss of HKD 8,428,000 in the same period of 2019, representing a 59.4% increase in losses[5] - The basic and diluted loss per share for the nine months was HKD 1.04, compared to HKD 0.65 for the same period in 2019, indicating a 60% increase in loss per share[5] - The company's total revenue decreased by approximately HKD 58.2 million or 72.4% to about HKD 22.2 million for the nine months ended December 31, 2020, compared to approximately HKD 80.4 million for the same period in 2019[28] - The net loss increased from approximately HKD 8.4 million for the nine months ended December 31, 2019, to approximately HKD 13.5 million for the same period in 2020[24] - Gross profit decreased from approximately HKD 7,300,000 for the nine months ended December 31, 2019, to approximately HKD 2,200,000 for the nine months ended December 31, 2020, a decline of 69.3% due to revenue drop[31] - The basic and diluted loss per share attributable to the owners of the company was HKD 10.36 for the nine months ended December 31, 2020, compared to HKD 6.49 for the same period in 2019[22] Expenses and Costs - Total administrative expenses for the nine months were HKD 15,047,000, an increase of 9.7% from HKD 13,717,000 in the previous year[5] - Service costs decreased by approximately HKD 53.1 million or 72.7% to about HKD 20 million for the nine months ended December 31, 2020, compared to approximately HKD 73.1 million for the same period in 2019[30] - The total labor costs amounted to HKD 9.8 million for the nine months ended December 31, 2020, down from HKD 12.9 million in the same period of 2019[18] - Administrative expenses rose by approximately HKD 1,300,000 or 9.7% from approximately HKD 13,700,000 for the nine months ended December 31, 2019, to approximately HKD 15,000,000 for the nine months ended December 31, 2020, mainly due to legal fees related to arbitration[33] - Excluding one-time legal fees, administrative expenses decreased by approximately HKD 3,900,000 or 28.5% to approximately HKD 9,800,000 for the nine months ended December 31, 2020[35] - Financing costs slightly decreased by approximately HKD 100,000 or 4.9% from approximately HKD 2,300,000 for the nine months ended December 31, 2019, to approximately HKD 2,200,000 for the nine months ended December 31, 2020[36] Income and Other Financial Metrics - The company generated other income of HKD 1,499,000 for the nine months, significantly up from HKD 235,000 in the same period of 2019[5] - Other income increased from approximately HKD 200,000 for the nine months ended December 31, 2019, to approximately HKD 1,500,000 for the nine months ended December 31, 2020, primarily due to subsidies received under the Employment Support Scheme from the Hong Kong government[32] Shareholder and Equity Information - As of December 31, 2020, the total equity of the company was HKD 62,962,000, down from HKD 89,912,000 at the end of 2019[7] - As of December 31, 2020, the company had a significant shareholder, Harmony Asia International, holding 652,290,000 shares, representing 50.18% of the total shares[42] Corporate Governance and Compliance - The audit committee reviewed the unaudited consolidated results for the nine months ended December 31, 2020, confirming compliance with applicable accounting standards[57] - The company emphasizes the importance of sound corporate governance for long-term success and has adhered to applicable governance codes[53] - The group has adopted a code of conduct for directors regarding securities trading, with no violations reported during the reporting period[52] - No competitive interests were reported between the directors, major shareholders, and the group's business during the nine months ended December 31, 2020[56] Future Outlook and Strategic Plans - The company anticipates continued challenges in acquiring new projects due to intense competition and the ongoing impact of the COVID-19 pandemic on the business environment in Hong Kong and Macau[25] - The company plans to explore opportunities for business diversification or expansion in Hong Kong, Macau, and mainland China to maintain growth[27] IPO Proceeds and Utilization - The net proceeds from the IPO, amounting to approximately HKD 38,000,000, will be used for the purposes outlined in the prospectus, with a decision made to change and reallocate the unused proceeds due to a challenging external business environment[49] - As of December 31, 2020, the total net proceeds utilized by the group amounted to HKD 38.0 million, with HKD 22.5 million remaining unutilized[50] - The group allocated HKD 19.4 million to strengthen its industry position and expand its business, with HKD 0.8 million already utilized[50] - A total of HKD 7.6 million was used to repay bank loans, with an additional HKD 20.0 million planned for future repayments[50] - The establishment of an office/warehouse in Macau cost HKD 2.5 million, with HKD 0.2 million already utilized[50] - General operating funds accounted for HKD 3.3 million, fully utilized during the reporting period[50] Dividend Information - The company did not recommend any dividend payment for the nine months ended December 31, 2020, consistent with the same period in 2019[21] - No dividends were declared or proposed for the nine months ended December 31, 2020, and 2019[39] Compliance with Financial Reporting Standards - The company has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[11] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2020[51] - The company has not granted, exercised, or allowed any stock options under its stock option plan during the nine months ended December 31, 2020[47]

Financial Performance - The group's revenue for the six months ended September 30, 2020, was HKD 17,211,000, a decrease of 76.5% compared to HKD 73,054,000 for the same period in 2019[5]. - Gross profit for the six months ended September 30, 2020, was HKD 1,966,000, down 71.5% from HKD 6,891,000 in the previous year[5]. - The group reported a loss before tax of HKD 10,012,000 for the six months ended September 30, 2020, compared to a loss of HKD 3,602,000 for the same period in 2019[5]. - Revenue from Hong Kong for the six months ended September 30, 2020, was HKD 12,482,000, a decline of 81.7% from HKD 68,291,000 in 2019[23]. - The total employee costs for the six months ended September 30, 2020, amounted to HKD 6,853,000, a decrease of 24.7% from HKD 9,108,000 in 2019[25]. - The company reported a loss attributable to shareholders of HKD 2,385,000 for the three months ended September 30, 2020, compared to a loss of HKD 4,811,000 for the same period in 2019, representing a 50.4% improvement[31]. - For the six months ended September 30, 2020, the loss attributable to shareholders was HKD 10,012,000, compared to HKD 3,602,000 in 2019, indicating a significant increase in losses[31]. - The net loss increased from approximately 3,600,000 HKD for the six months ended September 30, 2019, to approximately 10,000,000 HKD for the six months ended September 30, 2020[54]. Assets and Liabilities - Total assets as of September 30, 2020, were HKD 151,115,000, slightly down from HKD 151,438,000 as of March 31, 2020[7]. - The company’s total liabilities increased to HKD 85,715,000 as of September 30, 2020, compared to HKD 76,679,000 as of March 31, 2020[7]. - The company’s asset value decreased to HKD 66,421,000 as of September 30, 2020, from HKD 76,433,000 as of March 31, 2020[8]. - Contract assets as of September 30, 2020, amounted to HKD 100,512,000, up from HKD 95,701,000 as of March 31, 2020[33]. - The company had trade receivables of HKD 11,079,000 as of September 30, 2020, down from HKD 15,662,000 as of March 31, 2020, reflecting a decrease of 29.3%[35]. - Total bank borrowings increased to HKD 44,993,000 as of September 30, 2020, compared to HKD 35,967,000 as of March 31, 2020, representing a 25.1% increase[39]. - The debt-to-equity ratio increased from approximately 55.6% to approximately 84.5% due to higher bank borrowings and a decrease in total equity[74]. Cash Flow - The net cash used in operating activities for the six months ended September 30, 2020, was HKD 10,005,000, compared to a net cash inflow of HKD 6,143,000 in 2019[12]. - The group’s cash and cash equivalents decreased to HKD 10,102,000 as of September 30, 2020, from HKD 19,118,000 at the end of the previous year[12]. - The company utilized approximately HKD 7.6 million to repay outstanding bank loans as of September 30, 2020[98]. Administrative and Other Expenses - The group’s administrative expenses for the six months ended September 30, 2020, were HKD 12,016,000, an increase of 32.1% from HKD 9,112,000 in the previous year[5]. - The total compensation for key management personnel for the six months ended September 30, 2020, was 1,728,000 HKD, down from 2,016,000 HKD for the same period in 2019[48]. - Administrative expenses rose from approximately HKD 9.1 million to approximately HKD 12.0 million, an increase of about HKD 2.9 million or 31.9%, mainly due to legal fees related to arbitration[63]. Corporate Governance and Management - The company has adopted a code of conduct for securities trading by directors, with no reported violations during the reporting period[105]. - The company emphasizes the importance of sound corporate governance for long-term success and has complied with applicable corporate governance codes[106]. - The audit committee has reviewed the unaudited condensed consolidated results for the six months ended September 30, 2020, and found them to be properly prepared according to applicable accounting standards[114]. - The chairman and CEO, Mr. Lan Haokun, continues to oversee the overall business development strategy, combining both roles for effective management[108]. - The company’s executive directors have voluntarily waived 20% of their salaries for one year starting from April 1, 2020, as a cost control measure[110]. Future Outlook and Challenges - The company anticipates continued challenges in project acquisition due to intense competition and a depressed business environment in Hong Kong and Macau[55]. - The management expects financial performance for the fiscal year 2020/2021 to be affected by adverse factors including labor shortages and economic downturn[55]. - The company faces significant risks due to its project-based business model, with income primarily derived from non-recurring projects, which may be affected by contract terms and overall market conditions[101]. - The company relies on a bidding process to secure most contracts, with pricing based on estimated time and costs, which if inaccurately assessed, could adversely affect profitability[103]. Strategic Initiatives - The company plans to explore opportunities for business diversification or expansion into Hong Kong, Macau, and mainland China to maintain growth[57]. - The company has reallocated unutilized net proceeds from its IPO to other business strategies due to a challenging external business environment[94]. - The company continues to evaluate the use of unutilized net proceeds from its IPO to mitigate the impact of the COVID-19 pandemic and aims for better business performance[100].

Financial Performance - The company's revenue for the three months ended June 30, 2020, was HKD 8,362,000, a decrease of 83.3% compared to HKD 49,991,000 for the same period in 2019[5] - Gross profit for the same period was HKD 931,000, down 85.5% from HKD 6,403,000 in 2019[5] - The company reported a loss before tax of HKD 7,627,000, compared to a profit of HKD 1,289,000 in the previous year[5] - The basic and diluted loss per share was HKD 0.59, compared to earnings of HKD 0.09 per share in the same period last year[5] - The total comprehensive loss for the period was HKD 7,627,000, compared to a total comprehensive income of HKD 1,209,000 in 2019[5] - The company reported a net loss of approximately HKD 7,600,000 for the three months ended June 30, 2020, compared to a net profit of approximately HKD 1,200,000 for the same period in 2019, primarily due to a significant decline in revenue[25] - Total revenue decreased by approximately HKD 41,600,000 or 83.3% to approximately HKD 8,400,000 for the three months ended June 30, 2020, from approximately HKD 50,000,000 for the same period in 2019[29] - Service costs decreased by approximately HKD 36,200,000 or 83.0% to approximately HKD 7,400,000 for the three months ended June 30, 2020, from approximately HKD 43,600,000 for the same period in 2019[31] - Gross profit decreased by approximately HKD 5,500,000 or 85.5% to approximately HKD 900,000 for the three months ended June 30, 2020, from approximately HKD 6,400,000 for the same period in 2019[33] - The gross profit margin decreased from approximately 12.8% for the three months ended June 30, 2019, to approximately 11.1% for the same period in 2020[33] Administrative Expenses - Administrative expenses increased to HKD 8,585,000, up 95.0% from HKD 4,394,000 in 2019[5] - Administrative expenses increased by approximately HKD 4,200,000 or 95.4% to about HKD 8,600,000 for the three months ended June 30, 2020, primarily due to legal costs related to arbitration decisions[35] - Excluding one-time legal costs, administrative expenses decreased by approximately HKD 1,100,000 or 25.0% to about HKD 3,300,000 for the same period, indicating effective cost control in daily operations[35] Equity and Financing - The company’s total equity as of June 30, 2020, was HKD 68,806,000, down from HKD 99,549,000 a year earlier[7] - Financing costs decreased by approximately HKD 100,000 or 14.2% to about HKD 700,000 for the three months ended June 30, 2020, mainly due to a reduction in average bank borrowing levels[37] - As of June 30, 2020, the company had a total of approximately HKD 38,000,000 in net proceeds from its initial public offering, with HKD 15,500,000 utilized[51] - Of the net proceeds, HKD 19,400,000 was allocated to strengthen the company's industry position and expand its business, with only HKD 800,000 utilized to date[52] Business Operations - The company generated all its revenue from construction management services, specifically related to water circulation systems[15] - The company’s main business involves investment holding and providing design, procurement, and installation services for water circulation systems[9] - The company anticipates that the ongoing COVID-19 pandemic will continue to impact the business environment in Hong Kong and Macau in the second half of 2020[26] - The company plans to explore opportunities for business diversification or expansion in Hong Kong, Macau, and mainland China to maintain sustainable growth[28] - The company’s management will closely monitor the economic environment and continuously assess its business strategies to adapt to challenging market conditions[28] Corporate Governance - The company has adopted a code of conduct for securities trading by directors, with no violations reported during the reporting period[55] - The board emphasizes the importance of sound corporate governance for long-term success and has adhered to applicable corporate governance codes[56] - The chairman and CEO roles are held by the same individual, which the board believes is in the best interest of the company[58] - The audit committee, consisting of three members, has reviewed the unaudited consolidated results for the three months ended June 30, 2020, and found them to comply with applicable accounting standards[64] Future Outlook - The company will continue to monitor the development of the COVID-19 pandemic and its potential challenges in a rapidly changing market[53] - The board will periodically assess business objectives and the use of net proceeds to respond to market conditions[53] - The company has not identified any significant events after June 30, 2020, that would impact its operations and financial performance[41] - The company has not reported any business or interests that may compete with its operations during the reporting period[61] - The company has made changes to its board, appointing a new independent non-executive director and a committee chair[60] Dividends - No dividends were declared or proposed for the three months ended June 30, 2020, consistent with the same period in 2019[22] - No dividends were declared or proposed for the three months ended June 30, 2020, and 2019[40] Stock Options and Securities - The company has not granted, exercised, or allowed any stock options under its stock option plan during the three months ended June 30, 2020[49] - No purchases, sales, or redemptions of the company's listed securities were made during the three months ended June 30, 2020[54]

Financial Performance - For the fiscal year ending March 31, 2020, the total revenue decreased by approximately HKD 48.4 million or 35.7% to about HKD 87.1 million from approximately HKD 135.5 million for the fiscal year ending March 31, 2019[8]. - The company recorded a net loss of approximately HKD 21.9 million for the fiscal year ending March 31, 2020, compared to a net profit of approximately HKD 3 million for the fiscal year ending March 31, 2019[8]. - Total revenue decreased by approximately HKD 48.4 million or 35.7% to about HKD 87.1 million for the year ended March 31, 2020, compared to approximately HKD 135.5 million for the year ended March 31, 2019[15]. - Gross profit decreased by approximately HKD 18.9 million or 72.4% to about HKD 7.2 million, with gross margin dropping from approximately 19.3% to 8.3%[19]. - Administrative expenses increased by approximately HKD 6.2 million or 31.1% to about HKD 26.3 million, mainly due to accounting treatment related to arbitration results[21]. - Financing costs increased by approximately HKD 400,000 or 16.5% to about HKD 3.0 million, primarily due to increased average borrowing levels[22]. - Total assets as of March 31, 2020, were approximately HKD 155.1 million, down from approximately HKD 188.0 million as of March 31, 2019[27]. - The company's debt-to-equity ratio increased from approximately 54.7% to 55.6% due to the net loss for the year[28]. - The company did not declare or propose any dividends for the years ended March 31, 2020, and 2019[26]. - The company reported no final dividend for the fiscal year ending March 31, 2020, consistent with the previous year[163]. Business Operations - The group had 28 construction management projects during the reporting period, compared to 24 projects in the previous year, but zero consulting projects, down from four[13]. - The group’s services include construction management, consulting, and maintenance services for water circulation systems, primarily targeting private residential projects and commercial developments in Hong Kong and Macau[13]. - The company provides maintenance services for water circulation systems as part of its business operations[159]. - The company operates primarily as a contractor specializing in the design, procurement, and installation of water circulation systems[159]. - The company has a diversified service offering that includes construction management and consulting services related to water circulation systems[159]. Market Conditions - The economic environment remains uncertain due to the COVID-19 pandemic and ongoing social movements in Hong Kong, which are expected to impact financial performance, especially in the first half of the fiscal year 2020/2021[9]. - The significant decline in revenue was attributed to prolonged protests and the COVID-19 pandemic, leading to a historic economic recession in Hong Kong[13]. - The company expresses optimism about the long-term business prospects in Hong Kong and Macau despite the current adverse conditions[9]. Governance and Management - The board consists of seven directors, including four executive directors and three independent non-executive directors[43]. - The company held four board meetings during the fiscal year ending March 31, 2020, to approve financial performance and review governance compliance[50]. - The company has adopted a board diversity policy to ensure a balanced composition of skills, experience, and perspectives among board members[48]. - The independent non-executive directors represent at least one-third of the board, ensuring compliance with GEM listing rules[43]. - The chairman and CEO roles are held by the same individual, Mr. Lan Haokun, which the board believes is in the best interest of the company[40]. - The board is responsible for overseeing the company's governance policies and ensuring compliance with legal and regulatory requirements[41]. - The company emphasizes the importance of board diversity, with a mix of educational backgrounds, professional expertise, and gender representation[46]. - The board has established a code of conduct and compliance manual for directors and employees[42]. - The company has received annual confirmations of independence from its independent non-executive directors[43]. - The board's decision-making process includes regular updates from management on business performance and developments[41]. - The company appointed new service agreements for executive directors, with terms lasting three years, ensuring continuity in leadership[56]. - The audit committee held four meetings during the fiscal year ending March 31, 2020, to review financial performance and compliance with governance codes[64]. - The remuneration committee conducted one meeting to review the compensation structure for directors and senior management, ensuring alignment with market standards[65]. - The nomination committee is responsible for reviewing the board's structure and identifying qualified candidates for board membership[68]. - The company emphasizes continuous professional development for directors, with all directors attending training related to regulatory updates during the fiscal year[58]. - The company has adopted a code of conduct for directors' securities trading, with no known violations reported for the fiscal year ending March 31, 2020[57]. - The company’s governance framework includes three committees: audit, remuneration, and nomination, to oversee specific matters effectively[61]. - The independent non-executive director, Mr. Zeng Yongfa, was appointed to the audit committee and became its chairman on April 6, 2020[62]. - The company ensures that one-third of directors retire at each annual general meeting, maintaining a cycle of re-election and governance[56]. - The company has adopted a nomination policy to enhance the nomination process and serve as a guideline for the selection process and board succession planning[69]. - The nomination committee evaluates candidates based on qualifications, skills, experience, and gender diversity to complement the existing board's capabilities[70]. - The audit committee has reviewed and deemed the internal control system and existing procedures sufficient for the company's current business model and environmental needs[76]. - The company aims to provide stable and sustainable returns to shareholders through its dividend policy, considering operational performance, cash flow, and financial condition[78]. Environmental Impact - The total greenhouse gas emissions for the fiscal year 2019/20 amounted to 29.59 tons, a decrease of 17.2% from 35.74 tons in the previous year[98]. - Indirect emissions from electricity consumption were recorded at 29.56 tons, down from 35.71 tons, reflecting a reduction of 17.2%[98]. - The company aims to minimize environmental impact through sustainable practices in its operations, including compliance with relevant environmental laws and regulations[96]. - The company has implemented measures to monitor and reduce energy consumption in its Hong Kong office to lower operational costs and greenhouse gas emissions[101]. - The company has established policies to ensure that construction activities minimize adverse environmental impacts and comply with industry regulations[96]. - The company has a vision to be socially and environmentally responsible, focusing on reducing its environmental footprint and contributing positively to the community[91]. - The company continues to engage with stakeholders to understand and address significant environmental, social, and governance issues[92]. - The company has implemented waste management protocols prioritizing avoidance, reduction, recycling, and proper disposal of construction waste[103]. - The company has not been aware of any significant violations of environmental laws or regulations during the reporting period[106]. - The company actively encourages employees to reduce water usage in the office[106]. - The company has adopted measures to minimize harmful and non-harmful emissions from construction activities[107]. - The company has implemented energy-saving measures to improve electricity efficiency in its main office[111]. - The company has established a system for the classification and recycling of excavated materials on construction sites[103]. - The company has not received any public complaints or fines from environmental protection agencies during the reporting period[106]. - The company continues to promote the use of recycled paper and electronic methods to reduce paper consumption[113]. Employee and Labor Practices - Total number of employees as of March 31, 2020, remained stable at 37 compared to the previous year[119]. - The ratio of male to female employees increased from 1:2.2 to 1:3.6, indicating a shift towards greater gender diversity[119]. - The number of office employees, including executive directors and senior management, increased by 16.7% from 6 to 7[119]. - The age distribution of employees showed a decrease of 10.9% in the 19-40 age group, while the 41-60 age group increased by 8.2%[119]. - Employee compensation and benefits are linked to individual performance and company performance, with annual reviews based on industry practices[121]. - The company has no records of any employment disputes, violations, or lawsuits during the reporting period[127]. - The company adheres to local labor laws and has established a safe and healthy work environment, with no incidents of fatalities or occupational health hazards reported[123]. - Continuous learning and development are emphasized, with resources allocated for employee training programs[125]. Supplier and Procurement Practices - The procurement policy ensures transparency and fairness in supplier selection, with regular evaluations of suppliers based on ethical standards[131]. - The company has a list of approved subcontractors who have passed quality control tests and have a good track record for timely delivery[131]. - The group evaluated 77 key suppliers and subcontractors, with 61 in Hong Kong, 8 in Macau, 3 in China, and 5 in other regions, showing no change from the previous year[132]. - The group emphasizes high-quality final products, adhering to strict government regulations and independent oversight during planning, design, and construction phases[134]. - The group has a zero-tolerance policy towards bribery, extortion, fraud, and money laundering, with no reported cases during the reporting period[140]. - The company has established a recognized supplier list and regularly evaluates supplier performance[180]. Shareholder and Equity Information - As of March 31, 2020, the company's reserves available for distribution to shareholders were approximately HKD 58,954,000, compared to HKD 58,972,000 in 2019, reflecting a slight decrease of 0.03%[167]. - The company has not granted any stock options under the stock option plan from its adoption date until March 31, 2020, but will consider granting options as incentives in the future[171]. - As of March 31, 2020, Mr. Lan Haokun held 652,290,000 shares, representing 50.18% of the company's issued shares, making him a significant shareholder[174]. - On April 2, 2020, Morgan Star Investment Limited sold its 109,590,000 shares, resulting in no longer holding any interest in those shares[179]. - As of April 2, 2020, Mr. Zhang Wei sold 134,160,000 shares, and no longer held any interest in those shares, while Ms. Chen Mingxia held 243,750,000 shares, equivalent to 18.75% of the total issued share capital[179]. - The stock option plan allows for a maximum of 10% of the issued shares to be granted as options, subject to shareholder approval for any increase beyond this limit[169]. - The company has not entered into any equity-related agreements other than the stock option plan during the fiscal year ending March 31, 2020[172]. - The company’s bank borrowings details are available in the consolidated financial statements, indicating financial leverage considerations[168]. - The company’s property, plant, and equipment changes for the fiscal year ending March 31, 2020, are detailed in the consolidated financial statements[165]. - The company’s capital structure as of March 31, 2020, is outlined in the consolidated financial statements, reflecting its financial position[166]. - Revenue from the top five customers accounted for approximately 93.7% of total revenue for the year ended March 31, 2020, down from 96.9% in 2019[180]. - The largest customer contributed about 79.2% of total revenue for the year ended March 31, 2020, compared to 86.5% in 2019[180]. - Procurement from the top five suppliers represented approximately 10.5% of total service costs for the year ended March 31, 2020, a decrease from 21.0% in 2019[180]. - The largest supplier accounted for about 3.3% of total service costs for the year ended March 31, 2020, down from 11.0% in 2019[180]. - Payments to the top five subcontractors constituted approximately 56.5% of total service costs for the year ended March 31, 2020, up from 47.7% in 2019[180]. - The largest subcontractor received about 45.5% of total subcontracting fees for the year ended March 31, 2020, compared to 42.4% in 2019[180].