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。 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） 截 至2023年9月30日 止 六 個 月 之 中 期 業 績 公 告 本公司董事（「董事」）會（「董事會」）謹此公佈本集團截至2023年9月30日止六個月 的中期業績。本公告載有本公司2023年中期報告（「中期報告」）全文，符合香港 聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）有關中期業績初步 公告附載之相關資料要求。載有GEM上市規則規定資料的中期報告的印刷版 本將於適當時候寄發予本公司股東。 承董事會命 浩柏國際（開曼）有限公司 行政總裁及執行董事 舒中文 香港，2023年11月14日 於本公告日期，執行董事為汪倫先生、舒中文先生、王詠紅女士、吳蘊樂先生 及汪興亮先生；非執行董事為陳曉丹女士；而獨立 ...

Financial Performance - The group reported revenue of HKD 6,953,000 for the three months ended June 30, 2023, a decrease of 8.7% compared to HKD 7,618,000 in the same period of 2022[4]. - Gross profit for the same period was HKD 1,419,000, down 57.5% from HKD 3,327,000 year-over-year[4]. - The group achieved a profit before tax of HKD 1,540,000, compared to a loss of HKD 819,000 in the previous year[4]. - Basic and diluted earnings per share were HKD 0.08, a recovery from a loss of HKD 0.05 per share in the prior year[4]. - The total comprehensive income for the period was HKD 1,540,000, a significant turnaround from a loss of HKD 819,000 in the previous year[4]. - The group recorded a profit of HKD 1,466,000 for the three months ended June 30, 2023, compared to a loss of HKD 819,000 in the same period of 2022[21]. - The net profit for the three months ended June 30, 2023, was approximately HKD 1,540,000, compared to a net loss of approximately HKD 820,000 for the same period in 2022[35]. Revenue Sources - The construction management services in Hong Kong generated revenue of HKD 4,435,000, up 33.2% from HKD 3,332,000 in 2022, while revenue from mainland China decreased by 41.2% to HKD 2,518,000 from HKD 4,286,000[15]. - Other income increased to HKD 1,990,000, compared to no other income reported in the same period last year[4]. - Other income related to policy refunds amounted to HKD 1,900,000 for the three months ended June 30, 2023[31]. Expenses and Costs - Administrative expenses decreased to HKD 1,818,000 from HKD 4,060,000, reflecting a reduction of 55.2%[4]. - Service costs increased by approximately HKD 1,200,000 or 28.97% to about HKD 5,500,000 for the three months ended June 30, 2023, from approximately HKD 4,300,000 for the same period in 2022[28]. - Gross margin fell from approximately 43.67% for the three months ended June 30, 2022, to about 20.41% for the same period in 2023[30]. - Financing costs decreased by approximately HKD 30,000 or 40.70% to about HKD 50,000 for the three months ended June 30, 2023, from approximately HKD 80,000 for the same period in 2022[33]. Equity and Financing - The group’s total equity as of June 30, 2023, was HKD 2,284,000, up from HKD 886,000 at the beginning of the period[5]. - The company issued new shares worth HKD 2,600,000 during the quarter, contributing to the increase in total equity[5]. - The company plans to raise up to HKD 19,534,000 through a rights issue at a subscription price of HKD 0.20 per share, issuing a maximum of 97,670,000 shares[5]. - The group is in discussions with banks for the renewal of financing arrangements, with no indication of banks withdrawing financing or demanding early repayment[5]. Operational Challenges and Strategies - The group continues to face challenges such as high labor costs and skilled labor shortages, which may impact financial performance in the next nine months[23]. - The company is committed to improving operational efficiency and cash flow by tightening cost controls on certain operating expenses[5]. - The group will continue to monitor and manage its operating expenses closely to enhance cash flow and operational performance[5]. - The group is actively seeking potential business and investment opportunities to expand its revenue sources, particularly in the Greater Bay Area[24]. Corporate Governance - The company emphasizes the importance of sound corporate governance for long-term success and has adhered to the corporate governance code during the reporting period[50]. - The audit committee has reviewed the unaudited consolidated results for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[53]. - The company has adopted a code of conduct for securities trading by directors, with no violations reported during the reporting period[49]. Miscellaneous - The board has not declared any dividends for the three months ended June 30, 2023, consistent with the same period in 2022[20]. - No significant contingent liabilities were reported as of June 30, 2023[37]. - The company has not purchased, sold, or redeemed any of its listed securities during the three months ended June 30, 2023[48]. - No business or interests of directors or controlling shareholders were reported to be in competition with the company during the three months ended June 30, 2023[51]. - The company acknowledges the support of customers, contractors, business partners, and shareholders in its development[54]. - The executive directors as of the report date include Mr. Wang Lun, Mr. Shu Zhongwen, Ms. Wang Yonghong, Mr. Wu Yunle, and Mr. Wang Xingliang[55].

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。 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） 截 至2023年6月30日 止 三 個 月 之 第 一 季 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯 交所上市的公司帶有較高投資風險。有意投資者應了解投資於該等公司的潛 在風險，並應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，於GEM買賣的證券可能會較於聯交所 主板買賣的證券承受較大的市場波動風險，同時無法保證於GEM買賣的證券 會有高流通量的市場。 本公告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關浩柏國際（開曼）有限公司（「本公司」）及其附屬公司（統稱「 ...

Financial Performance - For the fiscal year ending March 31, 2023, the total revenue increased by approximately HKD 9,100,000 or 241.5% to about HKD 15,600,000 compared to approximately HKD 6,500,000 for the fiscal year ending March 31, 2022[10]. - The net loss increased from approximately HKD 30,400,000 for the fiscal year ending March 31, 2022, to approximately HKD 33,200,000 for the fiscal year ending March 31, 2023, due to additional write-offs and provisions related to construction management services[10]. - The company's total revenue increased by approximately HKD 9,100,000 or 241.5% to about HKD 15,600,000 for the year ended March 31, 2023, compared to approximately HKD 6,500,000 for the previous year[20]. - The service costs rose by approximately HKD 7,300,000 or 250% to about HKD 12,100,000 for the year ended March 31, 2023, from approximately HKD 4,800,000 in the prior year[21]. - The gross profit increased by approximately HKD 1,900,000 or 215.9% to about HKD 3,500,000 for the year ended March 31, 2023, while the gross margin decreased from approximately 25% to about 22.3%[22]. - The net loss for the year ended March 31, 2023, was approximately HKD 33,200,000, compared to a net loss of approximately HKD 30,400,000 for the year ended March 31, 2022[28]. - Administrative expenses increased by approximately HKD 4,800,000 or 15.1% to about HKD 36,300,000 for the year ended March 31, 2023, due to additional write-offs related to contract assets and significant contract costs[24]. - Financing costs decreased by approximately HKD 310,000 or 57% to about HKD 410,000 for the year ended March 31, 2023, primarily due to the repayment of several loans[26]. Strategic Focus and Outlook - The company continues to focus on improving operational efficiency and implementing cost-cutting measures in response to ongoing challenges in the market[9]. - The company plans to actively explore fundraising activities to strengthen its balance sheet, as mentioned in announcements dated April 11, 2022, and January 12, 2023[9]. - The company expresses confidence in the long-term development despite anticipated global economic volatility and challenges[11]. - The company expects that many countries will adopt flexible monetary policies and fiscal stimulus measures to provide liquidity in response to economic downturns[11]. - The company remains optimistic about the medium to long-term recovery of the Chinese market, anticipating continued support from the central government through monetary policy and fiscal stimulus[11]. - The company anticipates confirming revenue of over HKD 12,000,000 from four construction management projects in Hong Kong within the next 18 to 24 months[14]. - The company plans to raise approximately HKD 18,420,000 through a rights issue to improve its financial position[14]. - The company aims to optimize its existing business and improve operational efficiency while exploring potential projects and investment opportunities in Hong Kong and China[13]. - The management remains optimistic about the medium to long-term business prospects in Hong Kong and Macau despite recent financial performance challenges[18]. Corporate Governance - The company has adhered to the corporate governance code as per the GEM Listing Rules during the reporting period ending March 31, 2023[52]. - The board consists of ten directors, including five executive directors, one non-executive director, and four independent non-executive directors[58]. - The roles of the chairman and the CEO have been separated since December 23, 2022, with Mr. Wang Lun as chairman and Mr. Shu Zhongwen as CEO[53]. - The company has implemented sufficient measures to ensure absent directors are informed of shareholder opinions following the annual general meeting held on September 30, 2022[54]. - The company has appointed independent non-executive directors, ensuring at least one possesses appropriate professional qualifications and expertise in accounting or related financial management[60]. - The board is responsible for reviewing and supervising the training and continuous professional development of directors and senior management[57]. - The company has committed to enhancing its corporate governance practices to align with the latest developments[57]. - The company has reported compliance with all applicable provisions of the corporate governance code during the reporting period[55]. - The company has undergone several changes in its board composition, including the appointment and resignation of various directors throughout the reporting period[61]. - The company aims to maintain high standards of corporate governance to ensure competitiveness and sustainable development[57]. - The board consists of 7 male directors and 3 female directors, achieving a gender diversity ratio of 70% male and 30% female as of March 31, 2023[68]. - The company has implemented measurable goals for board diversity, all of which were achieved by the end of the fiscal year on March 31, 2023[69]. - The board held five meetings during the fiscal year ending March 31, 2023, to approve financial performance and review corporate governance compliance[72]. - The company has renewed service agreements with two executive directors for a period of three years from May 26, 2023, to May 25, 2026[75]. Employee and Workplace Practices - The employee gender ratio stands at 63.6% male and 36.4% female, reflecting the company's commitment to diversity in hiring practices[68]. - The board diversity policy was revised in December 2018 to ensure a balanced composition that supports business strategy execution[67]. - The company emphasizes merit-based recruitment while considering measurable factors such as gender, age, and cultural background[68]. - The board has established a framework for regular reviews of its diversity policy to ensure ongoing effectiveness[67]. - The board of directors will be re-elected at the upcoming annual general meeting, with five directors eligible for re-election[76]. - The audit committee held five meetings during the year ending March 31, 2023, to review financial performance and compliance with governance codes[82]. - The remuneration committee convened once during the year to review the remuneration structure for directors[83]. - The nomination committee assessed the independence of non-executive directors and reviewed the board's structure and composition[88]. - The company has adopted a nomination policy to enhance the nomination process and guide the selection of board members[87]. - The company emphasizes continuous professional development for directors, ensuring they stay updated on business and regulatory matters[78]. - The audit committee is responsible for advising on the appointment and removal of external auditors and reviewing financial statements[81]. - The remuneration committee's main role is to provide recommendations on the overall remuneration policy for directors and senior management[83]. - The company has confirmed no violations of the securities trading code by directors for the year ending March 31, 2023[77]. - The company is committed to maintaining high standards of corporate governance and compliance with GEM listing rules[80]. - The company appointed Mr. Li Guanxian as CFO and company secretary on July 5, 2021, with a background in major accounting firms and banks[89]. - The audit committee reviewed the audited consolidated financial statements for the year ended March 31, 2023, and recommended their approval to the board[99]. - The external auditor, Zhongzheng Tianheng, was recommended for reappointment at the upcoming annual general meeting[99]. - The company reported audit fees of HKD 400,000 for the fiscal year 2023, an increase from HKD 360,000 in fiscal year 2022[100]. - The company emphasizes the importance of effective internal controls and risk management to protect shareholder interests[93]. - The company has established a dividend policy aimed at providing stable and sustainable returns to shareholders[97]. - The next annual general meeting is scheduled for September 29, 2023, with a notice to be sent at least 20 business days in advance[101]. - The company has implemented a shareholder communication policy to facilitate two-way communication with shareholders[103]. Environmental, Social, and Governance (ESG) Practices - The company has established a governance framework for environmental, social, and governance (ESG) issues, ensuring alignment with strategic growth and promoting integration into business operations[119]. - The board of directors is responsible for overseeing the company's ESG strategies and reports, managing related risks, and ensuring compliance with relevant laws and regulations[120]. - The company emphasizes the importance of effective operational management and setting achievable goals to address environmental protection risks and opportunities[117]. - The company has adopted a whistleblowing policy to provide a confidential reporting channel for employees and external parties regarding financial reporting and misconduct[110]. - The company has implemented an anti-corruption policy, ensuring that all employees act with integrity and report any suspected bribery or corruption[112]. - The company maintains ongoing communication with shareholders through various channels, including annual general meetings and regular announcements[109]. - The company is committed to enhancing its sustainability performance in areas such as labor practices, environmental protection, and supply chain management[118]. - The company has a structured approach to collecting and analyzing ESG data, prioritizing issues, and monitoring performance against set goals and indicators[120]. - The group aims to invest more resources in sustainability, focusing on resource efficiency and carbon reduction to protect the planet[124]. - The group emphasizes the importance of stakeholder communication, engaging with shareholders, customers, employees, and regulatory bodies to align on environmental, social, and governance (ESG) issues[131]. - The group has identified key ESG issues, with high importance placed on workplace safety and product quality, while issues like waste management and child labor are considered of lower significance[133]. - The group adheres to the ESG reporting guidelines set by the Hong Kong Stock Exchange, ensuring compliance and transparency in its operations[125]. - The group is committed to reducing its environmental impact and has implemented policies to ensure sustainable and eco-friendly operations in its construction and management services[134]. - The group has established effective management policies and internal controls for ESG issues, confirming that disclosed content meets reporting guidelines[133]. - The group recognizes the need for a quality work environment and prioritizes employee health and safety in its operations[124]. - The group maintains a focus on fair procurement practices and promoting environmentally friendly products within its supply chain[133]. - The group has a structured approach to stakeholder engagement, utilizing various communication channels to address concerns and expectations[131]. - The group is dedicated to continuous improvement in its ESG performance, aiming to create greater value for the community[131]. Environmental Impact and Compliance - Scope 2 indirect emissions (electricity) increased by 20.6% from 15.70 tons to 18.94 tons[136]. - Total emissions rose by 20.6% from 15.73 tons to 18.97 tons[136]. - The company has implemented clear division of responsibilities among departments for environmental control and monitoring energy consumption[135]. - No significant violations of environmental laws and regulations were reported during the reporting period[138]. - The company has established a waste management hierarchy to prioritize avoidance, reduction, recycling, and proper disposal of construction waste[143]. - Measures have been taken to minimize greenhouse gas emissions during construction activities, including dust control and proper waste management[139]. - The company actively monitors noise levels during construction to comply with local regulations and has not received any public complaints[142]. - Wastewater generated during construction is collected, filtered, and reused on-site, adhering to local pollution control regulations[144]. - The company encourages employees to reduce water usage and waste generation in the office[146]. - The company believes it has fulfilled its responsibilities towards social and environmental improvement through strict measures and implementation[147]. - The Hong Kong office consumed 43,000 kWh of electricity during the reporting period, slightly higher than the previous period due to increased project work[151]. - Water consumption in the office totaled 33 cubic meters, up from 30 cubic meters in the previous year, highlighting the company's commitment to responsible water usage[151]. - The company encourages employees to minimize paper usage by utilizing electronic methods and recycled paper, reflecting its commitment to sustainability[152]. - The company actively monitors and manages waste emissions, wastewater, and solid waste to comply with environmental laws and regulations[155]. - The company has developed a climate change policy and conducted assessments to identify and mitigate potential climate-related risks affecting its operations[159]. - The company is aware of the increasing frequency and severity of extreme weather events, which may disrupt construction projects and operations[159]. - The company regularly monitors existing and emerging trends, policies, and regulations related to climate change to mitigate legal and reputational risks[162]. - The company aims to enhance transparency in its environmental, social, and governance reporting to build trust with investors and clients[163]. - The company is exploring the development of more green building services to attract investors and clients focused on climate change[163]. Employee Development and Training - As of March 31, 2023, the total number of employees remained stable at 11, with a gender ratio of 1:2.75, an increase of 200% compared to the previous year[169]. - The number of office employees, including executive directors and senior management, increased by 16.7% from 6 to 7[169]. - Employee performance evaluation and promotion systems are in place to ensure fair opportunities for all employees[167]. - The company adheres to the Employment Ordinance and Employee Compensation Ordinance, ensuring all employees receive various benefits without any employment disputes[171]. - The company has not reported any significant health and safety violations in the past year, maintaining a goal of zero injuries and fatalities[175]. - The company actively supports employee development by funding participation in relevant internal and external training programs[176]. - The company emphasizes a diverse and inclusive workplace, with a commitment to preventing discrimination and harassment[172]. - The employee recruitment process is based on operational needs and business growth, ensuring a fair selection process[167]. - The company has implemented measures to enhance employee health and safety, including regular safety audits and health awareness activities[175]. - The management structure remains stable, indicating a phase of seeking potential business growth opportunities[169]. - The company provided training for 11 employees during the reporting period, totaling 80 hours, compared to 41 hours for the previous fiscal year[179]. - The percentage of employees receiving training increased to 90.9% from 81.8% in the previous fiscal year[179]. - Training hours by employee level: general staff received 8 hours, middle management 16 hours, and senior management 56 hours[179]. - The company plans to continue investing more resources in employee training and development to keep staff updated on market changes and demands[180]. - There were no significant safety issues or major labor disputes reported during the past 12 months[181]. Supplier and Product Quality Management - The company evaluated approximately 60 key suppliers and subcontractors, slightly decreasing from the previous year[188]. - The company ensures that suppliers meet required standards, including financial stability and social responsibility[188]. - No major issues or supply shortages were reported from suppliers during the reporting period[188]. - The company adheres strictly to relevant laws and regulations to provide high-quality services[189]. - The company maintains a transparent procurement process and regularly assesses suppliers to ensure compliance with ethical standards[185]. - The final products of the group are completed water circulation systems, which are subject to strict government regulation and independent oversight during planning, design, and construction phases[190]. - The group emphasizes high product quality and consistency as crucial for maintaining professionalism and expanding market share[190]. - There were no quality claims against the group's products and services that adversely affected the business during the reporting period[192]. - The group has not faced any intellectual property infringement cases during the reporting period[194]. - The group has implemented policies to ensure the confidentiality and protection of sensitive data related to projects and business partners[195]. - There were no significant customer complaints or government investigations that could negatively impact the business during the reporting period[196]. - The group has maintained compliance with safety, health, and fire regulations, with no safety issues reported by the Hong Kong Fire Services Department[199]. - The group adopts a zero-tolerance policy towards bribery, extortion, fraud, and money laundering, with no corruption complaints reported during the reporting period[200].

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。 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） 截 至2023年3月31日 止 年 度 之 年 度 業 績 公 告 本公司董事（「董事」）會（「董事會」）謹此公佈本集團截至2023年3月31日止年度的 年度業績。本公告載有本公司2022/23年年度報告（「年報」）全文，符合香港聯合 交易所有限公司GEM證券上市規則（「GEM上市規則」）有關年度業績初步公告 附載之相關資料要求。載有GEM上市規則規定資料的年報的印刷版本將於適 當時候寄發予本公司股東。 承董事會命 浩柏國際（開曼）有限公司 行政總裁及執行董事 舒中文 香港，2023年6月30日 於本公告日期，執行董事為汪倫先生、舒中文先生、王詠紅女士、吳蘊樂先生 及汪興亮先生；非執行董事為陳曉丹女士；而獨立非執行董事 ...

Financial Performance - Revenue for the three months ended December 31, 2022, was HKD 6,671,000, a significant increase from HKD 285,000 in the same period of 2021, representing a growth of 2,241%[4] - Gross profit for the three months ended December 31, 2022, was HKD 2,870,000, compared to HKD 16,000 in the same period of 2021, indicating a substantial increase in profitability[4] - The total loss for the three months ended December 31, 2022, was HKD 5,330,000, compared to a loss of HKD 3,370,000 in the same period of 2021, reflecting a deterioration in financial performance[4] - For the nine months ended December 31, 2022, revenue reached HKD 20,928,000, up from HKD 5,681,000 in the same period of 2021, marking an increase of 269%[4] - The total loss for the nine months ended December 31, 2022, was HKD 5,438,000, compared to a loss of HKD 6,798,000 in the same period of 2021, showing an improvement in loss reduction[4] - The company reported a basic and diluted loss per share of HKD 0.33 for the nine months ended December 31, 2022, compared to HKD 0.52 for the same period in 2021, indicating a reduction in loss per share[4] - Total revenue increased by approximately 368.4% from about HKD 5,700,000 for the nine months ended December 31, 2021, to about HKD 20,900,000 for the nine months ended December 31, 2022[25] - Net loss for the nine months ended December 31, 2022, was approximately HKD 5,400,000, compared to a net loss of approximately HKD 6,800,000 for the nine months ended December 31, 2021[33] Expenses and Costs - The company’s administrative expenses for the three months ended December 31, 2022, were HKD 8,487,000, compared to HKD 3,313,000 in the same period of 2021, reflecting increased operational costs[4] - Service costs rose by approximately 357.3% from about HKD 2,850,000 for the nine months ended December 31, 2021, to about HKD 10,200,000 for the nine months ended December 31, 2022[26] - Administrative expenses increased by approximately 175.3% from about HKD 9,300,000 for the nine months ended December 31, 2021, to about HKD 16,300,000 for the nine months ended December 31, 2022[30] - Financing costs decreased to HKD 58,000 for the three months ended December 31, 2022, from HKD 73,000 in the same period of 2021, indicating improved cost management[4] - Financing costs decreased by approximately 55.9% from about HKD 400,000 for the nine months ended December 31, 2021, to about HKD 220,000 for the nine months ended December 31, 2022[31] Equity and Assets - The company’s total equity as of December 31, 2022, was HKD 16,010,000, down from HKD 40,700,000 as of December 31, 2021, indicating a decline in net assets[6] Revenue Recognition - The company generated all its revenue from customer contracts as defined by HKFRS 15, confirming a stable revenue recognition model[14] Future Outlook - The company forecasts revenue of approximately HKD 20,000,000 from four construction management projects in Hong Kong over the next 18 months[21] - The company plans to expand its business into the Greater Bay Area and continue participating in tenders from various construction or property development companies in Hong Kong[21] Shareholder Information - As of December 31, 2022, major shareholders include Harmony Asia with 632,390,000 shares (38.80%) and Song Chenglei with 260,000,000 shares (15.95%)[42] - A total of 13,000,000 share options were exercised at a price of HKD 0.0342 on November 18, 2022[43] Corporate Governance - The company has complied with all applicable provisions of the corporate governance code during the reporting period[62] - The audit committee reviewed the unaudited condensed consolidated results for the nine months ended December 31, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[66] - The company emphasizes the importance of sound corporate governance for long-term success and sustainable development[59] - The audit committee was composed of three independent non-executive directors until December 23, 2022, when Ms. Yuan Huimin took over as the chair[64] Management Changes - Changes in the board of directors included the appointment of Shu Zhongwen as CEO and executive director effective December 1, 2022[52] - The company appointed Ms. Yuan Huimin as the independent non-executive director and member of the nomination committee effective from December 13, 2022[54] - Mr. Wang Yonghong resigned as the chairman of the board and the nomination committee, effective from December 23, 2022, but continues as an executive director[54] - Mr. Wang Lun was appointed as the chairman of the board effective from December 23, 2022[56] Other Information - The company has fully utilized the net proceeds of approximately HKD 38,000,000 from its IPO for the intended purposes as of December 31, 2022[45] - No dividends were declared or proposed for the nine months ended December 31, 2022, and 2021[35] - No purchases, sales, or redemptions of the company's listed securities occurred during the nine months ended December 31, 2022[46] - The company adopted a code of conduct for securities trading by directors, with no violations reported during the reporting period[47] - The board is not aware of any significant events after December 31, 2022, that would impact the group's operations and financial performance[37] - The company expresses gratitude to customers, subcontractors, business partners, and shareholders for their continued support[67] - The management team and employees are acknowledged for their valuable contributions to the company's development[67] - The report is dated February 14, 2023, and lists the current executive and non-executive directors[68]

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]