Revenue and Profitability - Revenue for the six months ended September 30, 2024, was HKD 7.219 million, a decrease from HKD 13.019 million in the same period in 2023[5] - Revenue from construction management services for the six months ended September 30, 2024, was HKD 7.219 million, a decrease of 2.8% compared to HKD 7.425 million in the same period in 2023[20] - Revenue from consulting services for the six months ended September 30, 2024, was HKD 0, compared to HKD 5.594 million in the same period in 2023[20] - Total revenue for the six months ended September 30, 2024, was HKD 7.219 million, a decrease of 44.6% compared to HKD 13.019 million in the same period in 2023[20] - Revenue from Hong Kong for the six months ended September 30, 2024, was HKD 7.219 million, compared to HKD 7.425 million in the same period in 2023[22] - Revenue from Mainland China for the six months ended September 30, 2024, was HKD 0, compared to HKD 5.594 million in the same period in 2023[22] - Revenue from Client F for the six months ended September 30, 2024, was HKD 4.091 million, compared to HKD 0 in the same period in 2023[23] - Total revenue decreased by 44.6% from HKD 13,000,000 in the six months ended September 30, 2023, to HKD 7,200,000 in the six months ended September 30, 2024[51] - Gross profit for the six months ended September 30, 2024, was HKD 3.103 million, compared to HKD 1.640 million in the same period in 2023[5] - Segment profit from construction management services for the six months ended September 30, 2024, was HKD 3.103 million, compared to HKD 459,000 in the same period in 2023[21] - Gross profit increased by 89.2% from HKD 1,600,000 in the six months ended September 30, 2023, to HKD 3,100,000 in the six months ended September 30, 2024[53] - Gross margin improved from 12.6% in the six months ended September 30, 2023, to 43.0% in the six months ended September 30, 2024[53] - Net loss for the six months ended September 30, 2024, was HKD 5.210 million, an improvement from HKD 10.484 million in the same period in 2023[5] - Loss before tax for the six months ended September 30, 2024, was HKD 5.210 million, an improvement from HKD 10.484 million in the same period in 2023[21] - The company recorded a net loss of 5,210 thousand HKD for the six months ended September 30, 2024[9] - Net loss decreased from HKD 10,500,000 in the six months ended September 30, 2023, to HKD 5,200,000 in the six months ended September 30, 2024[58] - Basic loss per share for the six months ended September 30, 2024, was HKD 0.15, compared to HKD 0.36 in the same period in 2023[6] - Basic and diluted loss per share for the six months ended September 30, 2024, was calculated based on a loss attributable to owners of HK$5,210,000, compared to a loss of HK$10,484,000 for the same period in 2023[28] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 112.044 million, up from HKD 107.168 million as of March 31, 2024[7] - Contract assets as of September 30, 2024, were HKD 68.594 million, an increase from HKD 63.550 million as of March 31, 2024[7] - Trade and other receivables, deposits, and prepayments as of September 30, 2024, were HKD 30.085 million, slightly up from HKD 29.981 million as of March 31, 2024[7] - Bank balances and cash as of September 30, 2024, were HKD 221,000, up from HKD 170,000 as of March 31, 2024[7] - Trade and other payables and accrued expenses as of September 30, 2024, were HKD 78.099 million, up from HKD 71.292 million as of March 31, 2024[7] - Bank and other borrowings as of September 30, 2024, were HKD 5.750 million, down from HKD 6.186 million as of March 31, 2024[7] - Total liabilities increased to 101,654 thousand HKD as of September 30, 2024, compared to 95,778 thousand HKD as of March 31, 2024[8] - Net current assets decreased to 3,569 thousand HKD as of September 30, 2024, from 4,246 thousand HKD as of March 31, 2024[8] - The company's total equity decreased to 10,390 thousand HKD as of September 30, 2024, from 11,390 thousand HKD as of March 31, 2024[8] - The company's reserves decreased to (25,069) thousand HKD as of September 30, 2024, from (19,859) thousand HKD as of March 31, 2024[8] - Contract assets as of September 30, 2024, amounted to HK$68,594,000, compared to HK$63,550,000 as of March 31, 2024[31] - Contract liabilities as of September 30, 2024, remained unchanged at HK$15,053,000 compared to March 31, 2024[31] - Trade receivables as of September 30, 2024, were HK$12,099,000, after deducting impairment losses, compared to HK$12,099,000 as of March 31, 2024[36] - Other receivables, deposits, and prepayments as of September 30, 2024, totaled HK$17,828,000, slightly higher than HK$17,724,000 as of March 31, 2024[36] - Trade receivables as of September 30, 2024, amounted to HKD 12,099 thousand, with over 60 days outstanding accounting for HKD 10,394 thousand (85.9% of total trade receivables)[37] - Trade payables as of September 30, 2024, totaled HKD 20,116 thousand, with over 365 days outstanding accounting for HKD 19,075 thousand (94.8% of total trade payables)[39][40] - Total bank and other borrowings as of September 30, 2024, were HKD 5,750 thousand, all of which are unsecured[41][42] - Total assets increased to HKD 112,000,000 as of September 30, 2024, compared to HKD 107,200,000 as of March 31, 2024[60] - Total liabilities increased to HKD 101,700,000 as of September 30, 2024, compared to HKD 95,800,000 as of March 31, 2024[60] - The company's gearing ratio increased from 54.3% as of March 31, 2024, to 55.3% as of September 30, 2024[62] Cash Flow and Financing - Cash and cash equivalents increased by 198 thousand HKD for the six months ended September 30, 2024, compared to an increase of 17,574 thousand HKD for the same period in 2023[10] - Net cash used in operating activities was 25,496 thousand HKD for the six months ended September 30, 2024, compared to 12,139 thousand HKD for the same period in 2023[10] - Net cash from financing activities was 25,694 thousand HKD for the six months ended September 30, 2024, compared to 29,713 thousand HKD for the same period in 2023[10] - The company's cash and cash equivalents at the end of the period were 368 thousand HKD as of September 30, 2024, compared to 16,890 thousand HKD as of September 30, 2023[10] - The company issued new shares for a total of 4,210 thousand HKD during the six months ended September 30, 2024[9] - The company issued 22,560,000 new shares on August 19, 2024, and 19,540,000 new shares on August 26, 2024, increasing total issued shares to 351,610,000[44][45] - On August 13, 2024, the company issued 22,560,000 capitalization shares at HK$0.135 per share, representing approximately 7.29% of the existing issued share capital and 6.79% of the enlarged issued share capital[80] - On August 22, 2024, the company issued 19,540,000 capitalization shares at HK$0.135 per share, representing approximately 5.88% of the existing issued share capital and 5.56% of the enlarged issued share capital[80] - On November 5, 2024, the company issued 70,320,000 capitalization shares at HK$0.032 per share, representing approximately 19.999% of the existing issued share capital and 16.666% of the enlarged issued share capital[80] Costs and Expenses - Employee costs for the six months ended September 30, 2024, were HKD 1.179 million, a decrease of 23.0% compared to HKD 1.532 million in the same period in 2023[24] - Contract costs for the six months ended September 30, 2024, were HKD 2.110 million, a decrease of 68.1% compared to HKD 6.617 million in the same period in 2023[24] - Service costs decreased by 63.8% from HKD 11,400,000 in the six months ended September 30, 2023, to HKD 4,100,000 in the six months ended September 30, 2024[52] - Administrative expenses decreased by 40.5% from HKD 13,900,000 in the six months ended September 30, 2023, to HKD 8,200,000 in the six months ended September 30, 2024[55] - Key management personnel compensation for the six months ended September 30, 2024, totaled HKD 561 thousand, a 12.4% increase from HKD 499 thousand in the same period of 2023[45] - The company employed 11 employees as of September 30, 2024, with employee costs (including directors' remuneration) of approximately HKD 1,200,000 for the six months ended September 30, 2024, compared to HKD 1,500,000 for the same period in 2023[70] Shareholder and Equity Information - The company's share option plan, effective since May 26, 2017, allows for the issuance of up to 10% of the total issued shares, with a maximum of 1% of issued shares to any individual within a 12-month period[75] - As of September 30, 2024, no directors or senior executives held any interests or short positions in the company or its associated corporations[72] - The company's share option plan includes a total of 130,000,000 options granted to directors, employees, and consultants on April 27, 2022[75] - The company issued a total of 6,115,384 shares under the share option plan, representing 1.74% of the issued shares as of the interim report date[79] - The total number of shares that could be issued under all share option plans as of September 30, 2024, divided by the weighted average number of issued shares during the period, was 1.92%[79] - Harmony Asia International Limited holds 61,795,000 shares, representing a 17.57% stake in the company[73] - The company maintains at least 25% public shareholding as of September 30, 2024[92] Corporate Governance and Management Changes - Zhong Yuqing was appointed as an executive director effective May 22, 2024[86] - Wang Xingliang ceased to be an executive director effective September 30, 2024[86] - Ma Meng ceased to be an independent non-executive director and member of the audit, nomination, and remuneration committees effective September 30, 2024[86] - Zhang Xiaofeng was appointed as a member of the nomination and remuneration committees effective September 30, 2024[86] - Shu Zhongwen resigned as executive director, CEO, and chairman of the nomination committee effective October 8, 2024[86] - Zhong Yuqing resigned as executive director effective October 8, 2024[86] - Wu Yunle was appointed as chairman of the nomination committee effective October 8, 2024[86] - The company has no chairman or CEO since November 20, 2023, and October 8, 2024, respectively, and is seeking suitable candidates[94] Other Financial and Operational Information - Income tax expenses for the six months ended September 30, 2024, were not applicable for Hong Kong and China, as the group entities in the Cayman Islands, Samoa, and the British Virgin Islands are exempt from income tax[25] - The company did not declare or recommend any dividends for the six months ended September 30, 2024, compared to the same period in 2023[27] - The fair value of contingent consideration related to the acquisition of City Key Group Limited was HK$5,611,000 as of September 30, 2024, unchanged from March 31, 2024[30] - The company will assess the need for further adjustments to the fair value of contingent consideration and contract assets at the end of the year[30][32] - The company has a pledged deposit of HKD 158,000 with an insurance company as collateral for performance bonds, earning an interest rate of 0.2% per annum[38][47] - The company has no significant investment or capital asset plans as of September 30, 2024[64] - The company's revenue is project-based and non-recurring, with profitability depending on contract terms, project duration, and market conditions[82] - The company's ability to undertake projects depends on its human and other resources, with large-scale projects potentially occupying most of its resources[82] - Delays or failures in customer payments could significantly impact the company's liquidity and financial performance[83] - The company's bidding process involves estimating project duration and costs, with inaccuracies potentially leading to reduced profitability or significant losses[83] - No listed securities of the company were purchased, sold, or redeemed during the six months ended September 30, 2024[84] - The company has not been involved in any significant litigation or arbitration during the six months ended September 30, 2024[91]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 浩柏國際(開曼)有限公司 呈交日期： 2024年11月12日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； (viii) 有關債券、借貸股份、票據或公司債券的信託契約/平邊契據經已製備及簽署，有關詳情已送呈公司註冊處處長存檔（如法律如此規定）。 第一章節註釋： 若股份曾以超過一個每股價格發行/出售/購 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 本 公 告 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 任 何 證 券 的 邀 請 或 要 約。 HAO BAI INTERNATIONAL (CAYMAN) LIMITED 浩柏國際（ 開曼）有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：8431） 完成就債務資本化根據一般授權發行新股份 董 事 會 欣 然 宣 佈，該 協 議 所 載 之 所 有 條 件 已 獲 達 成 及 交 割 已 於2024年11月12日 落 實。合 共70,320,000股資本化股份已根據該協議之條款按認購價每股資本化 股 份0.032港 元 成 功 配 發 及 發 行 予 債 權 人。資 本 化 股 份 相 當 於(i)緊接交割前之 本公司已發行股本約19.999%；及(ii)緊隨交割後本公司經配發及發行資本化股 份擴大後之已發行 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 HAO BAI INTERNATIONAL (CAYMAN) LIMITED 浩柏國際（ 開曼）有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：8431） 自願公告 策略合作協議 本 公 告 乃 由 浩 柏 國 際（開 曼）有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」） 自 願 作 出，以 向 本 公 司 股 東（「股 東」）及 潛 在 投 資 者 提 供 有 關 本 集 團 最 新 業 務 發 展 的 消 息。 因 此，董 事 會 認 為 訂 立 策 略 合 作 協 議 符 合 本 公 司 及 股 東 的 整 體 利 益。 策略合作協議 本 公 司 董 事（「董 事」）會（「董事會」）欣 然 宣 佈，本 公 司 近 日 與 江 西 井 柏 勵 飛 科 技 有 限 公 司（「江西井柏」）訂 立 策 略 合 作 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失 承 擔 任 何 責 任。 HAO BAI INTERNATIONAL (CAYMAN) LIMITED 浩柏國際（ 開曼）有限公 司 浩 柏 國 際（開 曼）有 限 公 司 執行董事 吳蘊樂 香 港，2024年11月6日 澄清公告 就債務資本化 根據一般授權發行新股份 茲提述本公司日期為2024年11月5日 之 公 告，內 容 有 關 就 債 務 資 本 化 根 據 一 般 授 權 發 行 新 股 份（「該公告」）。除 本 公 告 另 有 界 定 者 外，本 公 告 所 用 詞 彙 與 該 公 告 所 界 定 者 具 相 同 涵 義。 由 於 無 心 之 失 的 筆 誤，本 公 司 謹 此 澄 清 該 公 告 第7頁的債權人C應 為「伍 安 怡 女 士」，而 非「梁 潤 芬 女 士」。 除 上 述 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 本 公 告 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 任 何 證 券 的 邀 請 或 要 約。 HAO BAI INTERNATIONAL (CAYMAN) LIMITED 浩柏國際（ 開曼）有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：8431） 就債務資本化根據一般授權發行新股份 債務資本化 於2024年11月5日 聯 交 所 交 易 時 段 後，浩 柏 國 際（開 曼）有 限 公 司（「本公司」）與 債 權 人（「債權人」）訂 立 協 議，據 此，待 其 條 件 達 成 後，本 公 司 同 意 配 發 及 發 行，而 債 權 人 有 條 件 同 意 按 每 股0.032港元的價格認購合共70,320,000股資本 化 股 份，以 清 償 部 分 債 務 總 額。 假設本公司已發行股本數目自本公告日期起 ...

HAO BAI INTERNATIONAL (CAYMAN) LIMITED 董事會會議日期 浩柏國際（開曼）有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，董事會 會議將於2024年11月14日（星期四）舉行，以其中包括考慮及批准本公司及其附屬公司截至2024年9 月30日止六個月之未經審核綜合業績及其刊發。 承董事會命 浩柏國際(開曼)有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並表明概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 浩柏國際(開曼)有限公司 （ 於開曼群島註冊成立的有限公司） （ 股份代號：8431） 吳蘊樂 香港，2024年11月1日 於本公告日期，執行董事為吳蘊樂先生及王詠紅女士；而獨立非執行董事為李如意先生、袁偉強先生及張曉峯先生。 本公告的資料乃遵照香港聯合交易所有限公司GEM證券上市規則而刊載，旨在提供有關本公司的資料；董事 願就本公告的資料共同及個別地承擔全部責任。董事經作出一切合理查詢後確認，就彼等所深知及確信，本公 告所載資料在各 ...

Financial Performance - For the fiscal year ending March 31, 2024, the total revenue increased by approximately HKD 6,300,000 or 40.3% to about HKD 21,900,000 compared to approximately HKD 15,600,000 for the previous year[10]. - The net loss decreased from approximately HKD 33,200,000 for the year ending March 31, 2023, to approximately HKD 10,500,000 for the year ending March 31, 2024[10]. - The company's total revenue increased by approximately HKD 6,300,000 or 40.3% from about HKD 15,600,000 for the year ended March 31, 2023, to about HKD 21,900,000 for the year ended March 31, 2024[20]. - The contribution of consulting business from China to the overall revenue rose from 13.5% for the year ended March 31, 2023, to 40% for the year ended March 31, 2024[20]. - Gross profit increased by approximately HKD 2,000,000 or 56.1% from about HKD 3,500,000 for the year ended March 31, 2023, to about HKD 5,400,000 for the year ended March 31, 2024[22]. - The gross profit margin improved from approximately 22.3% for the year ended March 31, 2023, to about 24.9% for the year ended March 31, 2024[22]. - Service costs rose by approximately HKD 4,300,000 or 35.8% from about HKD 12,100,000 for the year ended March 31, 2023, to about HKD 16,400,000 for the year ended March 31, 2024[21]. - Administrative expenses decreased by approximately HKD 1,000,000 or 7.8% from about HKD 12,900,000 for the year ended March 31, 2023, to about HKD 11,900,000 for the year ended March 31, 2024[24]. - Financing costs decreased by approximately HKD 30,000 or 6% from about HKD 410,000 for the year ended March 31, 2023, to about HKD 380,000 for the year ended March 31, 2024[25]. Business Strategy and Operations - The company plans to adopt a cautious approach to business development in the next 12 months, focusing on monitoring market trends and adjusting strategies accordingly[11]. - The company has implemented several cost-cutting measures to enhance operational efficiency during the past year[10]. - The company continues to strengthen relationships with clients, subcontractors, suppliers, and business partners to effectively meet their needs[10]. - The company acknowledges that inflationary pressures and financing costs will be significant concerns for the upcoming year due to reliance on capital leverage[11]. - The company has maintained a robust business strategy and strict operational controls despite market challenges[10]. - The company aims to continue seeking business and investment opportunities in Hong Kong and China while implementing cost-saving measures[18]. - The board remains optimistic about the medium to long-term business prospects in Hong Kong and China despite recent financial performance challenges[18]. Corporate Governance - The company has adopted and complied with all provisions of the corporate governance code as per GEM Listing Rules Appendix C1, with some deviations noted[53]. - The board is committed to enhancing corporate governance practices to ensure compliance with new governance codes and align with the latest developments[55]. - The company has appointed four independent non-executive directors, meeting the requirement of at least one with appropriate professional qualifications and expertise in accounting or related financial management[60]. - The board will continue to review and enhance its diversity policy to ensure its ongoing effectiveness[67]. - The company has taken sufficient measures to ensure absent directors are informed of shareholder opinions following the annual general meeting[54]. - The management team is authorized by the board to execute daily management and administrative matters, with regular updates provided to the board[55]. - The board consists of a diverse group of directors with different educational backgrounds and professional experiences as of March 31, 2024[183]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee[81]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the group's performance, risks, strategies, measures, and commitments during the reporting period from April 1, 2023, to March 31, 2024[120]. - The governance framework for ESG issues is structured from the top down, ensuring alignment with strategic growth and promoting the integration of ESG elements into business operations[123]. - The board of directors is ultimately responsible for the group's ESG strategy and reporting, regularly reviewing and confirming related risks and opportunities[123]. - The ESG working group, composed of representatives from various departments, is responsible for collecting and analyzing ESG data and ensuring compliance with relevant laws and regulations[124]. - The group aims to invest more resources in sustainability, focusing on resource efficiency and carbon reduction to protect the environment[128]. - The group has maintained strict standards in environmental, social, and governance (ESG) goals as of the fiscal year ending March 31, 2024[135]. - The group emphasizes the importance of stakeholder engagement, with various communication channels established for shareholders, customers, employees, and suppliers[137]. - The group is committed to reducing its operational impact on the environment and adhering to relevant environmental protection laws and industry regulations[139]. Employee and Workplace Policies - Employee costs, including director remuneration, were approximately HKD 4.1 million for the year ended March 31, 2024, compared to HKD 3.8 million in 2023[50]. - The company promotes a culture of inclusivity and diversity, ensuring equal opportunities and zero tolerance for discrimination in the workplace[181]. - The company emphasizes employee communication and corporate culture, organizing various activities to enhance employee engagement and belonging[184]. - A total of 11 employees received 88 hours of training during the reporting year, with a training participation rate of 100%[191]. - The average training hours for male employees were 8 hours, while female employees also received 8 hours of training, with senior management receiving an average of 64 hours[191]. - The company plans to continue investing more resources in employee training and development to keep staff updated on market changes and demands[192]. - The company strictly adheres to labor laws and has not experienced any major labor disputes or incidents related to employee injuries in the past 12 months[193]. - The company prohibits the hiring of child labor and forced labor, ensuring compliance with relevant laws during the hiring process[194]. Supply Chain Management - The supply chain management focuses on procurement and purchasing, ensuring transparency and fairness in all procurement processes[198]. - Suppliers are evaluated regularly to ensure compliance with legal standards and product quality, with a preference for those sharing similar ethical standards[198]. - Procurement principles follow established trade practices and industry standards, inviting multiple bidders based on contract value and technical requirements[199]. - The company incorporates green product and environmental terms into contracts, emphasizing sustainability in supplier selection[199]. - A list of approved subcontractors is maintained, ensuring they meet quality control tests and have a good track record for timely delivery[199].

Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 421.884 million, a significant increase from HKD 155.96 million in the previous year, representing a growth of approximately 170%[6] - The gross profit for the same period was HKD 5.446 million, up from HKD 3.487 million, indicating a gross margin improvement[6] - The company recorded a loss before tax of HKD 10.026 million, which is an improvement compared to a loss of HKD 33.163 million in the previous year, reflecting a reduction of approximately 70%[6] - The company reported a basic loss per share of HKD 4 cents, improved from HKD 20 cents in the previous year[6] - The company recorded a consolidated loss after tax of approximately HKD 10,526,000 for the year ending March 31, 2024[17] - The group reported a loss before tax of HKD 10,026,000 for the year ended March 31, 2024, compared to a loss of HKD 33,163,000 in the previous year, indicating an improvement in financial performance[21] - The group’s net loss decreased from approximately HKD 33,200,000 for the year ended March 31, 2023, to about HKD 10,500,000 for the year ended March 31, 2024[49] Assets and Liabilities - The total assets increased to HKD 107.168 million from HKD 84.138 million, marking a growth of about 27% year-over-year[7] - Current assets rose to HKD 99.312 million, compared to HKD 76.038 million in the previous year, indicating a growth of approximately 30%[7] - The total liabilities increased to HKD 95.778 million from HKD 83.252 million, reflecting a rise of approximately 15%[7] - The company's net asset value improved to HKD 11.390 million from HKD 0.886 million, showcasing a substantial increase[8] - The company's total liabilities and equity were approximately HKD 95,800,000 and HKD 11,400,000 respectively as of March 31, 2024, compared to HKD 83,300,000 and HKD 800,000 as of March 31, 2023[65] - The current ratio improved to approximately 1.04 times as of March 31, 2024, compared to approximately 0.91 times as of March 31, 2023[65] Revenue Sources - Revenue from construction management services decreased to HKD 13,089,000 in 2024 from HKD 13,496,000 in 2023, a decline of 3.0%[27] - Revenue from consulting services significantly increased to HKD 8,795,000 in 2024 from HKD 2,100,000 in 2023, marking a growth of 318.8%[27] - The contribution of consulting business in China to total revenue rose from 13.5% last year to 40% this year[52] Cost Management - The company is focusing on reducing administrative expenses, which decreased to HKD 11.919 million from HKD 12.930 million, a reduction of about 8%[6] - Service costs increased by approximately HKD 4,300,000 or 35.8% to about HKD 16,400,000 for the year ended March 31, 2024, compared to approximately HKD 12,100,000 for the previous year[55] - Administrative expenses decreased by approximately HKD 1,000,000 or 7.8% to about HKD 11,900,000 for the year ended March 31, 2024, down from approximately HKD 12,900,000[58] Future Plans and Strategies - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[6] - The group plans to enhance operational efficiency through cost control measures to improve profitability and future cash flow[20] - The company plans to expand its business in China, investing in construction projects and enhancing its management contracting and consulting services[81] - The company plans to raise funds through a rights issue, which is expected to provide necessary financial resources to support its strategic objectives in China and other regions[82] Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and presented in Hong Kong dollars (HKD)[12] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2023, with no significant impact on the financial statements[15] - The company emphasizes the importance of good corporate governance and has adopted all applicable corporate governance codes as of March 31, 2024[87] Risks and Uncertainties - There is significant uncertainty regarding the company's ability to continue as a going concern due to current cash levels not being sufficient to settle all current liabilities[17] - The group identified major risks and uncertainties affecting financial performance, including reliance on project-based income and irregular revenue generation[94] - The group’s ability to undertake projects is contingent on available human and other resources, with large projects consuming significant resources and potentially impacting overall performance[94] Shareholder Information - The board did not declare or propose any dividends for the years ended March 31, 2024, and March 31, 2023[64] - At least 25% of the company's issued share capital is held by the public as of the end of the financial year on March 31, 2024[92] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the financial year ending March 31, 2024[90]

Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 13,019,000, a decrease of 8.7% compared to HKD 14,257,000 for the same period in 2022[4] - The cost of services for the six months ended September 30, 2023, was HKD 11,379,000, which is an increase of 77.5% from HKD 6,390,000 in the previous year[4] - The company recorded a gross profit of HKD 1,640,000 for the six months ended September 30, 2023, down 79.2% from HKD 7,867,000 in 2022[4] - Administrative expenses increased significantly to HKD 13,857,000 for the six months ended September 30, 2023, compared to HKD 7,806,000 in the same period last year, representing a 77.5% increase[4] - The company reported a loss before tax of HKD 10,484,000 for the six months ended September 30, 2023, compared to a loss of HKD 108,000 in the previous year[4] - The net loss attributable to owners of the company for the six months ended September 30, 2023, was HKD 10,755,000, compared to a profit of HKD 680,000 in the same period of 2022[5] - For the three months ended September 30, 2023, the company reported a loss attributable to owners of the company of HKD 12,024,000, compared to a profit of HKD 680,000 for the same period in 2022[30] - Net loss increased from approximately HKD 100,000 for the six months ended September 30, 2022, to about HKD 10,500,000 for the same period in 2023[60] Assets and Liabilities - As of September 30, 2023, total assets amounted to HKD 97,836,000, an increase from HKD 76,038,000 as of March 31, 2023[7] - The company's net asset value increased to HKD 20,101,000 as of September 30, 2023, compared to HKD 886,000 as of March 31, 2023[8] - The company’s total liabilities increased to HKD 59,175,000 as of September 30, 2023, from HKD 55,001,000 as of March 31, 2023, indicating a rise of approximately 3.9%[41] - Trade receivables as of September 30, 2023, were HKD 11,369,000, down 54.6% from HKD 25,102,000 as of March 31, 2023[37] - Contract assets as of September 30, 2023, totaled HKD 67,460,000, an increase of 12.6% from HKD 59,928,000 at the beginning of the year[33] - The total contract liabilities remained unchanged at HKD (20,615,000) as of September 30, 2023[35] Cash Flow - The company reported a net cash outflow from operating activities of HKD (12,139) thousand, compared to a net inflow of HKD 1,692 thousand in the same period of 2022[12] - The company’s cash and cash equivalents increased significantly to HKD 16,996,000 as of September 30, 2023, from HKD 248,000 as of March 31, 2023[7] - The company had a cash balance of HKD 16,890 thousand at the end of the reporting period, compared to a negative balance of HKD (1,420) thousand at the end of the same period in 2022[12] - Cash and cash equivalents increased by HKD 17,574 thousand for the six months ended September 30, 2023, compared to a decrease of HKD (374) thousand in the same period of 2022[12] Share Capital and Financing - The company issued new shares through a rights issue, raising HKD 9,767,000 during the reporting period[10] - The company issued 97,670,000 new shares in a rights issue, increasing total issued shares to 293,010,000 as of September 30, 2023, compared to 195,340,000 as of March 31, 2023[45] - The company raised approximately HKD 18.33 million from the rights issue on September 8, 2023, with plans to utilize these funds for overdue trade payables and business expansion in China[91] - As of September 30, 2023, HKD 2.23 million of the rights issue proceeds had been used, with HKD 16.10 million remaining unutilized[93] - The board has decided to reallocate the unutilized net proceeds from the share placement due to the challenging external business and political environment[88] Operational Challenges and Strategies - The company is facing challenges such as high labor costs and skilled labor shortages, which may impact financial performance in the next six months[50] - The company is committed to regularly reviewing its existing business and seeking potential business and investment opportunities to expand its revenue sources[50] - The company has not disclosed any new strategies or market expansions in the current report[81] - The company faces risks related to project-based revenue generation, which may be affected by contract terms and project efficiency[96] Corporate Governance - The company has adopted a code of conduct for directors' securities trading, adhering to GEM listing rules[99] - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15 during the reporting period, ensuring proper regulation of business activities and decision-making processes[102] - The Audit Committee has reviewed the unaudited consolidated results for the six months ended September 30, 2023, and confirmed that they were prepared in accordance with applicable accounting standards and GEM Listing Rules[104] - The company has not identified any business or interests from directors or controlling shareholders that may compete with its operations as of September 30, 2023[103] Employee Costs - Total employee costs for the six months ended September 30, 2023, amounted to HKD 1,532,000, a decrease of 42.6% from HKD 2,660,000 in the same period of 2022[26] - The company employed 11 staff members as of September 30, 2023, with total employee costs of approximately HKD 1,500,000 for the six months ended September 30, 2023, down from approximately HKD 2,700,000 for the same period in 2022[75] Other Income and Expenses - Other income increased from zero to approximately HKD 1,900,000 for the six months ended September 30, 2023[56] - The financing costs for the six months ended September 30, 2023, were HKD (126) thousand, a decrease from HKD (169) thousand in the same period of 2022[22] - The company did not declare or recommend any dividends for the six months ended September 30, 2023, consistent with the same period in 2022[28]