Financial Performance - The unaudited consolidated results for the three months ended December 31, 2020, show a significant increase in revenue compared to the same period in 2019[14]. - Revenue for the three months ended December 31, 2020, was HK$84,958,000, representing an increase from HK$53,529,000 in the same period of 2019, a growth of 58.5%[15]. - The Group's revenue for the nine months ended 31 December 2020 was HK$260,356,000, compared to HK$217,123,000 for the same period in 2019, representing an increase of approximately 19.93%[38]. - For the nine months ended 31 December 2020, the Group's revenue amounted to approximately HK$242.0 million, representing an increase of approximately 48.9% compared to the same period in 2019[69]. - The Group recorded a profit attributed to owners of the Company of approximately HK$1.2 million for the nine months ended 31 December 2020, compared to a loss of approximately HK$2.4 million for the same period in 2019[76]. Profitability and Margins - The Group reported a net profit margin of 15% for the third quarter of 2020, reflecting improved operational efficiency[14]. - Profit before income tax for the three months ended December 31, 2020, was HK$5,345,000, a recovery from a loss of HK$1,099,000 in the same period of 2019[15]. - The profit attributable to owners of the Company for the three months ended December 31, 2020, was HK$5,637,000, compared to a loss of HK$917,000 in the same period of 2019[15]. - The Group's gross profit decreased by approximately HK$3.8 million or 80.9%, from approximately HK$4.7 million for the nine months ended December 31, 2019 to approximately HK$0.9 million for the nine months ended December 31, 2020[74]. - The Group's gross profit margin decreased from approximately 2.9% for the nine months ended December 31, 2019 to approximately 0.4% for the nine months ended December 31, 2020[74]. Operational Efficiency - User data indicates a 20% increase in active clients year-over-year, highlighting strong customer retention and acquisition strategies[14]. - The company has projected a revenue growth of 10% for the next quarter, driven by new product launches and market expansion efforts[14]. - Investment in new technology development has increased by 25% compared to the previous year, aiming to enhance service offerings[14]. - The Group's cash flow, operational efficiencies, and project completion progress were negatively impacted by the continuation of the COVID-19 epidemic and the overall economic environment in Hong Kong[61]. Market Expansion and Strategy - Market expansion efforts have led to a 30% increase in sales in the Asia-Pacific region, indicating successful penetration strategies[14]. - The company has introduced two new product lines in Q3 2020, contributing to a 15% increase in overall sales[14]. - The Group intends to implement a more prudent approach in project selection for the upcoming year, focusing on well-established contractors and business partners[61]. - The Group aims to proactively seek opportunities to expand its customer base and market share, undertaking more wet trades projects[67]. Financial Position and Liquidity - The Group's liquidity position remains strong, with cash reserves amounting to $5 million, ensuring operational stability[14]. - The total equity attributable to equity shareholders of the Company as of December 31, 2020, was HK$124,779,000, an increase from HK$124,624,000 as of December 31, 2019[18]. - The Company issued shares during the period, resulting in an increase in share capital from HK$6,000,000 to HK$6,980,000[18]. - The Group's financial position remains stable with no significant changes due to the application of new accounting policies[35]. Governance and Compliance - The Company has complied with the GEM Listing Rules regarding the notification of interests and short positions[90]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated results for the nine months ended December 31, 2020, and confirmed compliance with applicable accounting standards and GEM Listing Rules[106]. - The Company has complied with the Corporate Governance Code during the nine months ended December 31, 2020[100]. Shareholder Information - As of December 31, 2020, Mr. Tse Chun Yuen and Mr. Tse Chun Kuen each hold a 50.14% interest in Land Noble Holdings Limited, with 350,000,000 shares held jointly[79][94]. - The total number of shares held by the substantial shareholders is 350,000,000, which constitutes a significant portion of the Company's equity[94]. - The Company has disclosed substantial shareholders' interests as required under the Securities and Futures Ordinance (SFO) as of December 31, 2020[92].

Financial Performance - The unaudited consolidated interim results for the six months ended September 30, 2020, show a revenue of HKD 50 million, representing a 20% increase compared to the same period in 2019[13]. - The net profit for the same period was HKD 5 million, which is a 25% increase year-on-year[13]. - Revenue for the six months ended September 30, 2020, was HK$157,035,000, compared to HK$109,026,000 for the same period in 2019, representing an increase of approximately 44%[38]. - Revenue for the three months ended September 30, 2020, was HK$83,501,000, an increase from HK$49,972,000 in the same period of 2019, representing a growth of 67%[14]. - The Group recorded a loss attributed to owners of the Company of approximately HK$4.5 million for the six months ended September 30, 2020, compared to a loss of approximately HK$1.5 million for the same period in 2019, representing a significant increase in loss[90]. - Loss before income tax for the six months ended September 30, 2020, was HK$5,257,000, an increase from a loss of HK$1,880,000 in the same period of 2019[14]. - The Group reported a loss before income tax of HK$302,000 for the three months ended September 30, 2020, compared to a profit of HK$93,000 in 2019[48]. - For the six months ended September 30, 2020, the loss attributable to owners of the Company was HK$4,454,000, compared to a loss of HK$1,527,000 for the same period in 2019, representing an increase of 192%[54]. - Basic and diluted losses per share for the six months ended September 30, 2020, were HK$0.007, compared to HK$0.003 for the same period in 2019, indicating a 133% increase in losses per share[54]. Operational Highlights - User data indicates a growth in active clients by 15%, reaching a total of 1,200 clients as of September 30, 2020[13]. - The company has projected a revenue growth of 10% for the next six months, targeting HKD 55 million[13]. - New product development includes the launch of an innovative engineering solution expected to contribute an additional HKD 2 million in revenue by Q1 2021[13]. - The company is exploring market expansion opportunities in Southeast Asia, aiming to establish a presence in at least two new countries by the end of 2021[13]. - A strategic acquisition of a local engineering firm is under consideration, which could enhance service offerings and increase market share by 5%[13]. - The company has invested HKD 3 million in research and development for new technologies aimed at improving operational efficiency[13]. - The company plans to enhance its digital marketing strategy to increase brand awareness and client engagement, targeting a 30% increase in online inquiries[13]. Financial Position - Net current assets as of September 30, 2020, were HK$108,041,000, a decrease from HK$112,158,000 as of March 31, 2020[17]. - Cash and cash equivalents at the end of the period were HK$(3,765,000), a significant decrease from HK$26,467,000 at the beginning of the period[23]. - Total equity as of September 30, 2020, was HK$114,242,000, down from HK$118,696,000 as of March 31, 2020[17]. - Trade receivables as of September 30, 2020, totaled HK$28,168,000, an increase from HK$22,475,000 as of March 31, 2020[63]. - Total trade payables as of September 30, 2020, amounted to HK$21,497,000, slightly down from HK$21,528,000 as of March 31, 2020[67]. - The Group's provision for loss allowance for trade receivables remained stable at HK$146,000 as of September 30, 2020, unchanged from March 31, 2020[65]. - The Group had cash and bank balances of approximately HK$6.9 million, down from approximately HK$31.6 million as of 31 March 2020[1]. - The gearing ratio for the Group as of 30 September 2020 was 4.8%, compared to nil as of 31 March 2020[1]. Cost and Expenses - Gross profit for the six months ended September 30, 2020, was HK$867,000, compared to HK$3,343,000 for the same period in 2019, indicating a decline of 74%[14]. - Administrative and other operating expenses increased by approximately HK$0.5 million or 8.9% from approximately HK$5.4 million for the six months ended 30 September 2019 to approximately HK$5.9 million for the six months ended 30 September 2020[90]. - Operating expenses for the six months ended September 30, 2020, totaled HK$5,864,000, compared to HK$5,384,000 in the same period of 2019[14]. - The loss was mainly attributable to a decrease in gross profit margin due to an increase in overall construction costs and competitive project pricing arising from intense market competition[90]. Corporate Governance - The Company has complied with the Corporate Governance Code provisions during the six months ended September 30, 2020[132]. - The audit committee comprises three independent non-executive Directors, ensuring oversight of financial control and risk management systems[133]. - The Company is committed to high standards of corporate governance to protect and promote shareholder interests[132]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated interim results for the six months ended September 30, 2020, and confirmed compliance with applicable accounting standards and GEM Listing Rules[133]. Shareholder Information - As of September 30, 2020, Land Noble Holdings Limited holds 350,000,000 shares, representing a 58.33% interest in the company[129]. - The total number of shares held by substantial shareholders is 350,000,000, which constitutes 58.33% of the company's total shares[129]. - The Directors do not recommend the payment of an interim dividend for the six months ended September 30, 2020, consistent with the previous year where no dividend was paid[90]. - The Company has adopted a share option scheme since September 14, 2017, but no share options have been granted under this scheme[132].

Financial Performance - The unaudited consolidated results for the three months ended June 30, 2020, show a significant performance summary compared to the same period in 2019 [15]. - The Group reported a revenue of HKD 10 million for the first quarter of 2020, reflecting a decrease of 20% compared to HKD 12.5 million in the first quarter of 2019 [15]. - The net loss for the period was HKD 2 million, compared to a net profit of HKD 1 million in the same period last year, indicating a shift in financial performance [15]. - Revenue for the three months ended June 30, 2020, was HK$73,534,000, an increase from HK$59,054,000 in the same period of 2019, representing a growth of 24.6% [16]. - Gross profit decreased to HK$856,000 for the three months ended June 30, 2020, compared to HK$4,488,000 in 2019, indicating a decline of 81.0% [16]. - The loss before income tax for the period was HK$2,097,000, compared to a profit of HK$2,266,000 in the same period last year [16]. - The total comprehensive income attributable to owners of the Company for the period was a loss of HK$1,753,000, down from a profit of HK$2,089,000 in 2019 [16]. - Basic and diluted loss per share was HK$0.003 for the three months ended June 30, 2020, compared to earnings per share of HK$0.003 in the previous year [16]. - For the three months ended June 30, 2020, the Group recorded a net loss of approximately HK$1.8 million compared to a net profit of approximately HK$2.1 million for the same period in 2019, indicating a significant decline in profitability [77]. - The basic and diluted earnings per share for the period were (0.003) HK cents, compared to 0.003 HK cents for the same period in 2019, reflecting a loss per share [73]. - The Group's gross profit margin decreased during the three months ended June 30, 2020, contributing to the net loss [77]. - Other income for the three months ended June 30, 2020, included bank interest income of HK$60,000, down from HK$72,000 in 2019 [43]. - Other income and gain decreased from approximately HK$72,000 for the three months ended June 30, 2019 to approximately HK$60,000 for the same period in 2020, a decrease of approximately HK$12,000 [85]. - Administrative and other operating expenses increased by approximately HK$0.7 million or 30.4%, from approximately HK$2.3 million in the three months ended June 30, 2019 to approximately HK$3.0 million in the same period of 2020 [85]. - Finance costs increased to approximately HK$10,000 for the three months ended June 30, 2020, compared to nil for the same period in 2019 [86]. - The loss was primarily due to the decrease in gross profit margin, attributed to increased overall construction costs and competitive project pricing [87]. - The increase in administrative expenses was mainly due to higher staff costs, safety consultant expenses, and internal control expenses [85]. - The Group's performance was impacted by intense market competition leading to competitive project pricing [87]. Strategic Outlook - The company plans to expand its market presence by targeting new sectors, including renewable energy and infrastructure development, to drive future growth [15]. - Noble Engineering is investing in new technology development, focusing on enhancing project efficiency and reducing operational costs [15]. - The management has provided a cautious outlook for the next quarter, expecting a potential revenue increase of 10% if market conditions improve [15]. - The Group is exploring strategic partnerships and potential acquisitions to enhance its service offerings and market reach [15]. - The company aims to launch two new products in the next quarter, which are expected to contribute to revenue growth [15]. - The Group intends to implement a more prudent approach in project selection, focusing on well-established contractors to ensure project stability and sound receivables [77]. - The Group plans to expand its fleet of machinery and equipment to enhance technical capabilities for future project bids [80]. - The Group aims to proactively seek opportunities to expand its customer base and market share, undertaking more wet trades projects to enhance shareholder value [80]. - The Group may explore business opportunities beyond the Hong Kong market to strengthen revenue bases and future development [78]. - The net proceeds from the Share Offer are intended to provide financial resources to meet business objectives and strengthen the Group's market position in wet trades services [81]. - The Group's strategy focuses on improving operating efficiency and profitability while diversifying its business for better returns to shareholders [79]. Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations [27]. - The Company was incorporated in the Cayman Islands and its shares are listed on the GEM of the Stock Exchange since September 29, 2017 [24]. - The unaudited condensed financial statements are presented in thousands of Hong Kong dollars (HK$'000), maintaining consistency with the Company's functional currency [26]. - The Group operates solely in Hong Kong, with all revenue and non-current assets located in this region [44]. - The Group's current tax expense for the three months ended June 30, 2019, was HK$237,000, while there was no current tax expense for the same period in 2020 [66]. - The Group's depreciation of owned assets for the three months ended June 30, 2020, was HK$586,000, compared to HK$492,000 in 2019 [60]. - The application of the two-tiered profits tax rates regime allows the first HK$2,000,000 of profits to be taxed at 8.25% [68]. - The Group's interest on bank overdrafts for the three months ended June 30, 2020, was HK$8,000, with no interest recorded in the previous year [57]. - The Company has confirmed compliance with the Required Standard of Dealing during the three months ended June 30, 2020, with no non-compliance events reported [104]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the three months ended June 30, 2020 [104]. - The company adopted a Share Option Scheme on September 14, 2017, but no share options have been granted under this scheme since its adoption [104]. - There were no reported competition or conflict of interests involving the directors or controlling shareholders during the three months ended June 30, 2020 [104]. - The company has not disclosed any substantial shareholders or other persons with interests in shares or underlying shares as of June 30, 2020 [102]. - The company has maintained a register of interests as required under Section 336 of the SFO [102]. - The company has adhered to the GEM Listing Rules regarding securities transactions by directors [104]. - The Company has complied with the Corporate Governance Code provisions during the three months ended June 30, 2020 [107]. - The audit committee consists of three independent non-executive Directors, ensuring oversight of financial control and risk management [107]. - The unaudited results for the three months ended June 30, 2020 have been reviewed by the audit committee but not audited by independent auditors [107]. Shareholding Structure - As of June 30, 2020, Mr. Tse Chun Yuen and Mr. Tse Chun Kuen each hold 1 share in Land Noble Holdings Limited, representing a 50% interest [98]. - Land Noble Holdings Limited has a long position of 350,000,000 shares, equating to a 58.33% interest in the company [101]. - No other persons, apart from the directors and chief executives, had interests or short positions in the shares of the company as of June 30, 2020 [101].

Noble Engineering Group Holdings Limited 怡 康 泰 工 程 集 團 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號：8445 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of inv ...

Financial Performance - The unaudited consolidated revenue for the three months ended December 31, 2019, was reported at HKD 10 million, representing a 15% increase compared to the same period in 2018[12]. - For the nine months ended December 31, 2019, the Group achieved a total revenue of HKD 30 million, which is a 20% increase year-on-year[12]. - The gross profit margin for the third quarter was approximately 25%, showing an improvement from 22% in the same quarter of the previous year[12]. - The Group's net profit for the three months ended December 31, 2019, was HKD 2 million, reflecting a 10% increase compared to the previous year[12]. - Revenue for the three months ended December 31, 2019, was HK$53,529,000, an increase from HK$52,150,000 in the same period of 2018, representing a growth of 2.6%[13]. - Revenue for the three months ended December 31, 2019, was HK$53,529,000, a decrease of 36.7% compared to HK$84,620,000 for the same period in 2018[34]. - Revenue for the nine months ended December 31, 2019, was HK$162,555,000, down 46.5% from HK$303,365,000 for the same period in 2018[34]. - The Group recorded a net loss of approximately HK$2.4 million for the nine months ended December 31, 2019, compared to a net profit of approximately HK$19.2 million for the same period in 2018, indicating a significant decline in performance[54]. - The Group's revenue for the nine months ended December 31, 2019 amounted to approximately HK$162.6 million, a decrease of approximately 46.4% compared to the same period in 2018[63]. - The gross profit decreased by approximately HK$27.1 million or 85.2%, from approximately HK$31.8 million for the nine months ended December 31, 2018 to approximately HK$4.7 million for the same period in 2019[62]. - The total comprehensive loss attributable to owners of the Company for the nine months ended December 31, 2019, was HK$2,444,000, compared to a profit of HK$19,173,000 for the same period in 2018[13]. - Basic and diluted loss per share for the three months ended December 31, 2019, was HK$0.002, compared to earnings of HK$0.01 per share in the same period of 2018[13]. Operational Efficiency and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2020[12]. - The Group is exploring potential acquisition opportunities to enhance its service offerings and expand its client base[12]. - The company is committed to improving operational efficiency, aiming for a 15% reduction in operational costs by the end of 2020[12]. - The Group intends to implement a more prudent approach in project selection, focusing on well-established contractors and business partners to ensure project stability and sound receivables[55]. - The Group aims to improve operating efficiency and profitability while expanding its customer base and market share[61]. - The Group plans to expand its fleet of machinery and equipment to enhance technical capabilities for future project bids[56]. - The Group may explore business opportunities beyond the Hong Kong market to strengthen revenue bases and enhance future development[57]. Financial Management - The Company reported administrative and other operating expenses of HK$100,000 for the three months ended December 31, 2019, down from HK$122,000 in the same period of 2018[13]. - Finance costs for the nine months ended December 31, 2019, were HK$7,960,000, compared to HK$9,373,000 for the same period in 2018, reflecting a decrease of 15.1%[13]. - Other income and gain for the three months ended December 31, 2019, was HK$96,000, compared to HK$122,000 for the same period in 2018[37]. - Depreciation of owned assets for the nine months ended December 31, 2019, was HK$1,603,000, an increase of 42.5% from HK$1,124,000 for the same period in 2018[40]. - Other income and gain decreased by approximately HK$60,000 from approximately HK$325,000 for the nine months ended December 31, 2018, to approximately HK$265,000 for the nine months ended December 31, 2019[68]. - Administrative and other operating expenses decreased by approximately HK$1.4 million or 14.9% from approximately HK$9.4 million for the nine months ended December 31, 2018, to approximately HK$8.0 million for the nine months ended December 31, 2019[68]. Shareholder Information - No dividends were paid or proposed for ordinary shareholders during the nine months ended December 31, 2019, consistent with the previous year[50]. - The Directors do not recommend the payment of a dividend for the nine months ended December 31, 2019, compared to no dividend for the same period in 2018[68]. - As of December 31, 2019, Land Noble Holdings Limited holds 350,000,000 shares, representing 58.33% of the total issued voting shares[81]. - Ms. Or So Lan and Ms. Yapp Ngi Yang, both spouses of directors, also hold interests in 350,000,000 shares, each representing 58.33% of the total issued voting shares[81]. - During the nine months ended December 31, 2019, the Company and its subsidiaries did not purchase, sell, or redeem any of the Company's listed securities[89]. - The Company has adopted a share option scheme since September 14, 2017, but no share options have been granted under this scheme since its adoption[89]. Governance and Compliance - The Company has complied with the Corporate Governance Code provisions during the nine months ended December 31, 2019[91]. - The Company has established an audit committee to review and supervise financial control, internal control, and risk management systems[92]. - The unaudited results for the nine months ended 31 December 2019 have been reviewed by the audit committee members[92]. - The audit committee comprises three independent non-executive Directors[92]. - The report is dated 12 February 2020, indicating the latest financial updates[94]. - The Company is incorporated in the Cayman Islands with limited liability[96]. - The stock code for Noble Engineering Group Holdings Limited is 8445[96].

Financial Performance - The unaudited consolidated interim results for the six months ended September 30, 2019, show a significant performance summary compared to the same period in 2018[15]. - The Group reported a revenue increase of 15% year-on-year, reaching HKD 120 million for the six-month period[15]. - Revenue for the six months ended September 30, 2019, was HK$104,250,000, an increase from HK$92,258,000 for the same period in 2018, representing a growth of 13%[16]. - The company reported revenue and other income and gains recognized during the respective periods, with specific figures to be detailed in the financial statements[41]. - The Group's revenue amounted to approximately HK$109.0 million, which decreased by approximately 50.2% compared to the same period in 2018, primarily due to delays in new project commencements and substantial project completions[78]. - For the six months ended 30 September 2019, the Group recorded a net loss of approximately HK$1.5 million compared to a net profit of approximately HK$14.0 million for the same period in 2018, indicating a significant decline in profitability[73]. - The company recorded a loss attributable to owners of the company of HK$1,527,000 for the six months ended September 30, 2019, compared to a profit of HK$14,010,000 for the same period in 2018[16]. - Basic and diluted loss per share for the six months ended September 30, 2019, was HK$0.003, compared to earnings of HK$0.02 per share in the same period of 2018[16]. - The company reported a loss before income tax for the six months ended September 30, 2019, was HK$1,880,000, a significant decrease from a profit of HK$16,533,000 in the same period of 2018[16]. - Gross profit for the six months ended September 30, 2019, was HK$3,343,000, compared to HK$22,925,000 for the same period in 2018, indicating a decline of 85%[16]. - The gross profit margin decreased from approximately 10.5% for the six months ended September 30, 2018, to approximately 3.1% for the same period in 2019, attributed to increased construction costs and competitive pricing[79]. Cash Flow and Assets - The Group's cash flow position remains strong, with a cash balance of HKD 30 million as of September 30, 2019[15]. - The company reported a net cash used in operating activities of HK$9,985,000 for the six months ended September 30, 2019, compared to HK$35,240,000 for the same period in 2018, showing an improvement[24]. - Cash and cash equivalents at the end of the period were HK$36,885,000, down from HK$48,761,000 at the beginning of the period[24]. - The net current assets as of September 30, 2019, were HK$118,716,000, slightly down from HK$121,694,000 as of March 31, 2019[20]. - Total assets less current liabilities as of September 30, 2019, were HK$125,671,000, a decrease from HK$127,416,000 as of March 31, 2019[20]. - As of 30 September 2019, the Group had cash and cash equivalents of approximately HK$36.9 million, down from approximately HK$48.8 million as of 31 March 2019[96]. - The Group's gearing ratio as of 30 September 2019 was nil, indicating no bank borrowings during the period[96]. Strategic Outlook and Initiatives - The company has provided a positive outlook, projecting a further 10% revenue growth for the next six months[15]. - New product development initiatives are underway, focusing on enhancing service offerings in engineering solutions[15]. - The Group is exploring market expansion opportunities in Southeast Asia, targeting a 25% increase in market share by 2021[15]. - The company is considering strategic acquisitions to bolster its service capabilities and market presence[15]. - The Group plans to implement a more prudent approach in project selection, focusing on well-established contractors and business partners to ensure project stability and sound receivables[73]. - The Group intends to expand its fleet of machinery and equipment to enhance technical capabilities for future project bidding[73]. - The Group is exploring opportunities to expand its geographical coverage beyond the Hong Kong market to strengthen revenue bases and enhance future development[76]. Corporate Governance - The Company has complied with the Corporate Governance Code (CG Code) during the six months ended September 30, 2019[131]. - The Company acknowledges the importance of corporate governance in creating shareholder value and has committed to high standards of governance[131]. - The Company has established an audit committee in compliance with GEM Listing Rules, consisting of three independent non-executive Directors[132]. - The audit committee's primary duties include reviewing financial control, internal control, and risk management systems[134]. - The unaudited interim results for the six months ended 30 September 2019 have been reviewed by the audit committee members[136]. Employee and Operational Information - The Group hired two site agents, five assistant site agents, one assistant quantity surveyor, and two safety supervisors, which is part of its strategy to strengthen manpower[88]. - As of 30 September 2019, the Group had 38 full-time employees, a decrease from 44 employees as of 30 September 2018[100]. - Total staff costs for the six months ended 30 September 2019 were approximately HK$7.4 million, compared to approximately HK$9.5 million for the same period in 2018[100]. - The Group has provided internal training and sponsored staff for occupational health and safety training courses[88]. Shareholder Information - As of September 30, 2019, Land Noble Holdings Limited holds 350,000,000 shares, representing 58.33% of the total issued voting shares[121]. - Ms. Or So Lan and Ms. Yapp Ngi Yang, both spouses of key executives, are deemed to have interests in the same 350,000,000 shares, each also representing 58.33%[126]. - The Company has no other interests or short positions in shares or underlying shares that require disclosure as of September 30, 2019[125]. Dividends and Share Options - No dividends were paid or proposed for ordinary shareholders during the six months ended 30 September 2019, consistent with the previous year[59]. - The Directors do not recommend the payment of an interim dividend for the six months ended 30 September 2019, compared to nil for the same period in 2018[85]. - No share options have been granted under the Share Option Scheme since its adoption on September 14, 2017[128].

Financial Performance - The Group reported unaudited revenue of HKD 59,054,000 for the three months ended June 30, 2019, compared to HKD 54,566,000 for the same period in 2018, representing an increase of approximately 8.6%[15] - Gross profit for the period was HKD 4,488,000, reflecting a gross margin of approximately 7.6%[15] - Profit before tax was HKD 2,266,000, with a tax expense of HKD 177,000, resulting in a net profit attributable to owners of the company of HKD 2,089,000[15] - Basic and diluted earnings per share were HKD 0.003 for the period[15] - The company reported a net profit of approximately HKD 2.1 million for the three months ended June 30, 2019, a decrease of about 69.9% compared to HKD 6.9 million for the same period in 2018[37] - Revenue for the three months ended June 30, 2019, was approximately HKD 59.1 million, representing a decrease of about 48.4% from the same period in 2018[39] - Gross profit decreased from approximately HKD 10.9 million for the three months ended June 30, 2018, to approximately HKD 4.5 million for the same period in 2019, a decline of about 58.7%[40] - The gross profit margin fell from approximately 9.5% in the three months ended June 30, 2018, to approximately 7.6% in the same period in 2019, primarily due to increased construction costs and intense market competition[40] - The total comprehensive income for the three months ended June 30, 2019, was not explicitly stated but is included in the total equity figures[18] Expenses and Cost Management - The Group's administrative and other operating expenses totaled HKD 2,294,000, indicating a focus on cost management[15] - Administrative and other operating expenses decreased by approximately HKD 0.6 million or 20.7% to about HKD 2.3 million for the three months ended June 30, 2019[42] - The company incurred operating lease rentals of HKD 230,000 for properties, compared to HKD 178,000 in the previous year, reflecting a 29.2% increase[31] Future Outlook and Strategy - Future outlook includes potential market expansion and the introduction of new products and technologies[15] - The company is actively exploring opportunities for mergers and acquisitions to enhance its market position[15] - The company plans to implement more prudent project selection in the coming year, focusing on mature contractors and reputable business partners[37] - The company aims to enhance operational efficiency and profitability while expanding its machinery and equipment fleet to improve technical capabilities for future project bids[38] Corporate Governance and Compliance - The company is committed to maintaining transparency and accuracy in its financial reporting, as confirmed by the board of directors[3] - The company confirmed compliance with the GEM Listing Rules regarding securities trading standards, with no non-compliance incidents reported for the three months ending June 30, 2019[60] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited first-quarter results for the period ending June 30, 2019, and provided recommendations[66] - The company has maintained high standards of corporate governance to enhance shareholder value since its listing date[65] - The company has ensured that all directors have complied with the trading standards set forth in the GEM Listing Rules, reflecting a commitment to ethical governance practices[60] Shareholder Information - The total equity attributable to the company's shareholders as of June 30, 2019, was HKD 129,157,000, an increase from HKD 127,068,000 as of April 1, 2019[18] - As of June 30, 2019, the company reported a total of 350,000,000 shares held by Highland Holdings Limited, representing 58.33% of the total voting rights of the issued shares[57] - The company has adopted a share option scheme since September 14, 2017, but no share options have been granted under this scheme to date[63] - No share options have been granted under the share option plan since its adoption, indicating a potential focus on other forms of compensation or investment[63] - The company has confirmed that there are no interests or short positions in the company's shares or related securities that require disclosure under the Securities and Futures Ordinance as of June 30, 2019[58] Market and Operational Context - The company operates solely in Hong Kong, with all revenues and non-current assets sourced from this market[29] - The company’s main operating segment is the provision of mud engineering services, which is viewed as a single operating segment by the board[29] - The company was incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange since September 29, 2017[19] - The company has not engaged in any business that directly or indirectly competes with its operations during the three months ending June 30, 2019[61] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the three months ending June 30, 2019[62] - The company has not disclosed significant impacts from new accounting standards adopted on or after January 1, 2019, on its financial performance[24] Income and Gains - Other income and gains amounted to HKD 72,000, contributing to overall profitability[15] - Other income and gains increased from approximately HKD 54,000 for the three months ended June 30, 2018, to approximately HKD 72,000 for the same period in 2019, mainly due to increased bank interest income[41] - The company reported a pre-tax profit of HKD 492,000 for depreciation of owned assets, up from HKD 321,000 in the previous year[31]

Financial Performance - For the year ended 31 March 2019, the Group recorded total revenue of approximately HK$364.2 million, a decrease of approximately 10.9% compared to HK$408.9 million for the year ended 31 March 2018[24]. - The profit attributed to owners of the Company for the year ended 31 March 2019 was approximately HK$11.9 million, down from approximately HK$13.2 million for the previous year[24]. - The gross profit margin decreased from 10.4% for the year ended 31 March 2018 to 8.2% for the year ended 31 March 2019, primarily due to increased rates charged by subcontractors[43]. - The decrease in revenue was mainly due to a reduced value of contracts awarded during the year and the completion of most contracts in the third quarter of 2018[43]. - Gross profit decreased by approximately HK$12.6 million or 29.7% to approximately HK$29.8 million, with a gross profit margin dropping from about 10.4% to approximately 8.2%[45]. - Other income and gain decreased by approximately HK$4.8 million from approximately HK$5.4 million in 2018 to approximately HK$605,000 in 2019[43]. - The Group's revenue for the year ended March 31, 2019, was approximately HK$364.2 million, a decrease of about 10.9% compared to the same period in 2018[45]. Operational Strategy - The Group plans to expand its fleet of machinery and equipment to enhance technical capabilities for future project bids[27]. - The Group intends to implement a more prudent approach in project selection, focusing on well-established contractors and business partners[27]. - The Group aims to proactively seek opportunities to expand its customer base and market share in the wet trades sector[27]. - The Group's operating efficiency and profitability are key focus areas for improvement in the upcoming year[27]. Corporate Governance - The Company has adopted the Corporate Governance Code since the Listing Date and has complied with its provisions during the year ended March 31, 2019[113]. - The Board consists of a majority of independent non-executive Directors, exceeding the requirement of at least one-third as per GEM Listing Rules[124]. - The Company maintains liability insurance for Directors and senior management to cover legal liabilities arising from their duties[115]. - The Company emphasizes good corporate governance as essential for effective management and enhancing shareholder value[116]. - The Board is responsible for overseeing major matters, including strategy formulation and financial performance monitoring[118]. Management and Leadership - Mr. Eric Tse has over 35 years of experience in the wet trades industry, responsible for overall strategic planning and business development[75]. - The Group's executive management includes individuals with significant industry experience, enhancing its operational capabilities[75][77]. - The management team is responsible for making major operational decisions to drive the Group's growth[77]. - The Group's leadership structure supports effective governance and strategic oversight[88]. Financial Position - As of March 31, 2019, the Group had cash and cash equivalents of approximately HK$48.8 million, down from approximately HK$62.9 million in 2018[46]. - The gearing ratio for the Group as of March 31, 2019, was nil, indicating no bank borrowings[46]. - The Group's treasury policy aims to maintain strong liquidity to capitalize on future growth opportunities[46]. - The total capital expenditure for the year ended 31 March 2019 was approximately HK$3.8 million, used for the purchase of plant and equipment[51]. Nomination and Board Diversity - The Company aims to enhance board diversity by considering factors such as gender, age, experience, cultural and educational background, expertise, skills, and know-how[1]. - The Nomination Committee will disclose the composition of the Board annually in the corporate governance report and monitor the implementation of the Board Diversity Policy[2]. - The Nomination Policy ensures that the Board has a balance of skills, experience, knowledge, and diversity of perspectives appropriate to the Company's business requirements[3]. - The Nomination Committee evaluates candidates based on criteria including diversity, time commitment, qualifications, independence, integrity, potential contributions, and commitment to maximizing shareholder value[4]. Employee and Manpower Management - As at 31 March 2019, the Group had 42 full-time employees, with total staff costs of approximately HK$17.2 million, a decrease from approximately HK$18.9 million in 2018[51]. - The Group's actual manpower enhancement included hiring two site agents and five assistant site agents, compared to the planned hiring of three site agents and four assistant site agents[57]. - The Group's actual use of proceeds for further strengthening manpower was HK$7.6 million against a planned HK$8.0 million[66]. Audit and Compliance - The Audit Committee held four meetings during the year ended March 31, 2019, to review the Company's financial results and internal control procedures[189]. - The consolidated financial statements for the year ended March 31, 2019, were reviewed by the Audit Committee, confirming compliance with applicable accounting standards and GEM Listing Rules[190]. - The Company has complied with Rule 5.28 of the GEM Listing Rules regarding the composition of the Audit Committee, ensuring at least one member has appropriate professional qualifications[189].

Financial Performance - The company's revenue for the three months ended December 31, 2018, was HKD 84,620,000, a decrease of 20% compared to HKD 105,739,000 for the same period in 2017[7]. - Gross profit for the same period was HKD 8,843,000, down from HKD 10,862,000, reflecting a decline of approximately 18.6%[7]. - The net profit attributable to equity holders for the three months was HKD 5,163,000, compared to HKD 9,376,000 in the previous year, representing a decrease of 44.8%[7]. - For the nine months ended December 31, 2018, total revenue was HKD 303,365,000, slightly up from HKD 303,101,000 in 2017, indicating a marginal increase of 0.09%[7]. - The company reported a basic earnings per share of HKD 0.01 for the three months, down from HKD 0.02 in the same period last year[7]. - The company recorded a pre-tax profit of HKD 493,000 for the three months ended December 31, 2018, compared to HKD 182,000 for the same period in 2017, reflecting a significant increase of 171%[22]. - For the nine months ended December 31, 2018, the company recorded a net profit of approximately HKD 19.2 million, compared to HKD 82 million for the same period in 2017, indicating a significant decrease in profitability[29]. - Revenue for the nine months ended December 31, 2018, was approximately HKD 303.4 million, representing a slight increase of about 0.1% compared to the same period in 2017[30]. Expenses and Costs - Administrative and other operating expenses decreased to HKD 2,796,000 from HKD 3,922,000, a reduction of approximately 28.7%[7]. - The company’s tax expense for the nine months ended December 31, 2018, was HKD 1,128,000, compared to HKD 3,265,000 for the same period in 2017, showing a reduction of 65%[24]. - The company incurred financing costs of HKD 11,000 for the three months ended December 31, 2017, which decreased to HKD 0 for the same period in 2018[22]. - Financing costs decreased by approximately HKD 197,000 or 91.6% to about HKD 18,000, as there were no bank overdraft interests incurred during the period[34]. - Administrative and other operating expenses decreased by approximately HKD 14.9 million or 61.3% to about HKD 9.4 million, primarily due to the absence of non-recurring listing expenses in 2018[33]. Equity and Shareholder Information - The company’s total equity attributable to equity holders increased to HKD 134,520,000 as of December 31, 2018, from HKD 115,347,000 at the beginning of the period[8]. - Major shareholder Highland Holdings Limited owns 350,000,000 shares, representing 58.33% of the voting rights in the company[45]. - Ms. Kwan Su-Lan and Ms. Yip Yi-Ying, as spouses of the major shareholders, are also deemed to own 350,000,000 shares each, equating to 58.33% of the voting rights[46]. - The company did not declare any dividends for the nine months ended December 31, 2018, consistent with the previous year[36]. Corporate Governance and Compliance - The company has established an audit committee to review and supervise financial controls and risk management systems[54]. - The company has complied with the corporate governance code as per GEM Listing Rules, enhancing transparency and accountability to shareholders[53]. - The company is committed to high standards of corporate governance to boost confidence among stakeholders and drive business growth[53]. - The company has confirmed compliance with the trading regulations for directors during the reporting period[48]. - No direct or indirect competition or conflict of interest has been reported by directors or major shareholders during the nine months ending December 31, 2018[49]. - The unaudited third-quarter results for the nine months ending December 31, 2018, have been reviewed by the audit committee members[54]. Future Plans and Market Outlook - The company plans to focus on market expansion and new product development to enhance future growth prospects[7]. - The company plans to expand its machinery and equipment fleet to enhance technical capabilities and pursue more subcontracting opportunities in the future[28]. - The company aims to actively seek business opportunities to expand its customer base and market share in the competitive Hong Kong civil engineering sector[29]. - The company has received an increasing number of project quotation invitations from potential and existing clients, which provides a cautiously optimistic outlook for future business prospects[29]. - The company has not reported any significant new product launches or technological advancements during the reporting period[19]. - The company continues to operate solely in Hong Kong, with no additional business segments reported[20]. - The company is assessing the impact of new accounting standards on its financial performance but has not indicated any significant effects thus far[18]. Other Income and Gains - The company recorded other income and gains of HKD 122,000 for the three months, significantly lower than HKD 4,249,000 in the same period last year[7]. - The company’s bank interest income for the nine months ended December 31, 2018, was HKD 325,000, a decrease from HKD 5,376,000 in the same period of 2017[19].