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 Main Board. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on GEM are generally small and ...

Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 320,746,000, an increase from HKD 237,211,000 in the previous year, representing a growth of approximately 35.2%[4] - The gross loss before tax was HKD 11,975,000, slightly higher than the loss of HKD 11,697,000 reported for the previous year[4] - The company recorded a net loss attributable to shareholders of HKD 11,794,000, compared to a loss of HKD 11,611,000 in the prior year, indicating a year-over-year increase in losses of about 1.6%[4] - Basic and diluted loss per share was HKD 0.04, an improvement from HKD 0.05 in the previous year[4] - The group reported a revenue of HKD 320,746,000 for the year 2024, an increase from HKD 237,211,000 in 2023, representing a growth of approximately 35.2%[43] - The basic loss attributable to shareholders was approximately HKD 11,794,000 for 2024, compared to HKD 11,611,000 in 2023, indicating a slight increase in losses[53] - The company reported a loss attributable to shareholders of approximately HKD 11.8 million for the year ended March 31, 2024, compared to HKD 11.6 million in 2023[100] - For the year ended March 31, 2024, the group recorded a net loss of approximately HKD 11.8 million, compared to a net loss of approximately HKD 11.6 million for the year ended March 31, 2023[120] Assets and Equity - Total assets decreased to HKD 87,179,000 from HKD 91,072,000, reflecting a decline of approximately 4.3%[35] - Current assets included cash and cash equivalents of HKD 35,065,000, down from HKD 47,296,000, a decrease of about 25.7%[12] - The company’s total equity attributable to shareholders was HKD 87,139,000, down from HKD 90,913,000, indicating a decrease of approximately 4.5%[36] - The company’s non-current assets included property, plant, and equipment valued at HKD 1,229,000, an increase from HKD 757,000[11] Revenue Sources and Customer Contributions - The company’s revenue from major customers showed significant changes, with Customer A contributing HKD 63,377,000, down from HKD 83,496,000, a decline of about 24.1%[30] - The company operates solely in Hong Kong, with all revenue generated from this market, and has no non-current assets located outside of Hong Kong[30] Costs and Expenses - The group’s total direct costs for subcontracting amounted to HKD 276,527,000 in 2024, compared to HKD 196,971,000 in 2023, reflecting an increase of approximately 40.3%[51] - Administrative and other operating expenses rose by approximately HKD 0.5 million or 3.8%, from about HKD 13.3 million in 2023 to approximately HKD 13.8 million in 2024[98] - Financing costs surged by approximately 575%, increasing from about HKD 4,000 in 2023 to approximately HKD 27,000 in 2024, mainly due to higher lease interest[99] Impairment and Credit Losses - The group’s financial assets and contract asset impairment provisions amounted to HKD 1,298,000 in 2024, compared to a reversal of HKD 45,000 in 2023[51] - The expected credit loss rate increased to 4.88% in 2024 from 3.75% in 2023, with expected credit losses of HKD 2,763,000 compared to HKD 1,924,000 in the previous year[62] - The total credit loss for the year ended March 31, 2024, was approximately HKD 2,763,000, compared to HKD 1,924,000 in 2023, reflecting an increase of about 43.7%[88] Employee and Operational Metrics - The group reported a total employee cost of approximately HKD 23.3 million for the year ending March 31, 2024, compared to HKD 21.5 million in 2023, reflecting an increase of about 8.37%[150] - As of March 31, 2024, the group employed 67 full-time staff in Hong Kong, an increase from 58 in 2023, representing a growth of approximately 15.52%[150] Dividends and Shareholder Returns - The group did not declare or recommend any dividends for the year ending March 31, 2024, consistent with the previous year[52] - The board does not recommend the payment of a final dividend for the year ending March 31, 2024[149] Governance and Compliance - The company is committed to high standards of corporate governance to enhance shareholder value and corporate accountability[148] - The audit committee was established on September 29, 2017, and is responsible for reviewing financial information and internal control procedures[154] - The company has adopted the corporate governance code as per GEM listing rules to ensure compliance and accountability[148] Other Financial Metrics - The group’s gross profit margin for the year ended March 31, 2024, was approximately 0.5%, slightly down from 0.6% in the previous year[122] - The gross profit for the year ended March 31, 2024, was approximately HKD 1.6 million, up about 6.7% from approximately HKD 1.5 million in the previous year[122] - The total cash and cash equivalents as of March 31, 2024, were approximately HKD 29.7 million, down from HKD 42.0 million in 2023[108] - The company has no bank borrowings as of March 31, 2024, maintaining a debt ratio of zero[109]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous period[1] - Revenue for the three months ended September 30, 2023, was HK$81,628,000, representing a 80.4% increase from HK$45,242,000 in the same period of 2022[15] - Revenue for the six months ended 30 September 2023 was HK$154,643,000, representing an increase of 43.5% from HK$107,739,000 in the same period of 2022[35] - Gross profit for the six months ended September 30, 2023, was HK$1,126,000, compared to HK$910,000 for the same period in 2022, indicating a positive growth trend[15] - The gross profit for the same period was approximately HK$1.1 million, up by approximately 22.2% from approximately HK$0.9 million in the prior year, with a gross profit margin of approximately 0.7%[87] - The company reported a loss before income tax for the three months ended September 30, 2023, was HK$2,056,000, an improvement from a loss of HK$6,264,000 in the same period of 2022[15] - For the six months ended September 30, 2023, the company reported a loss attributable to owners of HK$4,190,000, compared to a loss of HK$4,184,000 for the same period in 2022, indicating a slight increase in losses[50] - The company reported a loss per share of HK$0.008 for the three months ended September 30, 2023, compared to HK$0.025 in the same period of 2022[15] - The basic and diluted loss per share for the six months ended September 30, 2023, was HK$0.016, compared to HK$0.018 for the same period in 2022, reflecting a decrease of approximately 11.1%[50] User Engagement and Outlook - User data showed an increase in active users, reaching ZZ million, which is an increase of AA% year-over-year[2] - The company provided a positive outlook for the next quarter, projecting revenue growth of BB% and an expected increase in user engagement[3] - New product launches are anticipated to contribute to revenue, with an estimated impact of CC million in the upcoming fiscal year[4] Strategic Initiatives - The company is investing in new technology development, allocating DD% of its budget towards R&D initiatives[5] - Market expansion plans include entering EE new regions, aiming to increase market share by FF%[6] - The company is considering strategic acquisitions to enhance its service offerings, with potential targets identified in the market[7] - The company has established partnerships with key industry players to leverage synergies and enhance competitive positioning[9] - Future guidance indicates a focus on sustainability initiatives, with a commitment to reduce carbon emissions by HH% over the next five years[10] Cost Management and Financial Health - Cost management strategies have been implemented, resulting in a reduction of operational expenses by GG%[8] - Current assets totaled HK$114,870,000 as of September 30, 2023, slightly down from HK$115,579,000 as of March 31, 2023[18] - Total assets less current liabilities as of September 30, 2023, amounted to HK$94,954,000, up from HK$91,072,000 as of March 31, 2023[18] - Net assets increased to HK$94,743,000 as of September 30, 2023, compared to HK$90,913,000 as of March 31, 2023[18] - The company generated net cash from financing activities of HK$7,856,000 for the six months ended 30 September 2023, compared to HK$10,181,000 in the same period of 2022, a decrease of 22.5%[20] - Cash and cash equivalents at the end of the period were HK$40,654,000, an increase of 25.3% from HK$32,474,000 at the end of the same period in 2022[20] - The net decrease in cash and cash equivalents for the six months ended September 30, 2023 was HK$1,374,000, an improvement compared to a decrease of HK$6,834,000 in the same period of 2022[20] Shareholder Information - The company issued shares on placement, raising HK$8,020,000 during the six months ended September 30, 2023[19] - The share capital increased from HK$15,000,000 to HK$50,000,000 by creating an additional 700,000,000 shares as of 30 September 2023[66] - The Group successfully placed 25,100,000 ordinary shares at a price of HK$0.34 per share, raising approximately HK$8.0 million in share premium[67] - The total issued share capital as of September 30, 2023, was HK$13,819,000, an increase from HK$12,564,000 as of March 31, 2023[101] Corporate Governance - The Company has established an audit committee to oversee financial control, internal control, and risk management systems[174] - The Company has adopted the Corporate Governance Code and has complied with its provisions during the reporting period[169] - All directors confirmed compliance with the Required Standard of Dealing for securities transactions during the six months ended September 30, 2023[162] - The Company has complied with the GEM Listing Rules regarding securities trading by directors during the six months ended September 30, 2023[164] - The Audit Committee has reviewed the unaudited condensed consolidated results for the six months ended September 30, 2023, and confirmed compliance with applicable accounting standards and GEM Listing Rules[175] Market Conditions - The construction industry in Hong Kong remains challenging, with high competition impacting profit margins for new projects[75] - The Group's gross profit margin is under pressure due to competitive project pricing, affecting overall financial performance[76] - The overall business environment has gradually improved, but the Group's tendering results remain unsatisfactory[75] - The Group intends to adopt a more prudent approach in project selection, focusing on tenders from well-established contractors to ensure steady projects and sound receivables[79] - The Group aims to improve its competitiveness by providing quality works and expanding its customer base in the wet trades works industry[81] - The Group is actively exploring business opportunities beyond the Hong Kong market to enhance future development and strengthen revenue bases[85] - The Group aims to maintain its market share in the civil engineering sector by closely monitoring market conditions and responding to changes[83]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全 部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 NOBLE ENGINEERING GROUP HOLDINGS LIMITED 怡 康 泰 工 程 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8445） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 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主 板上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的 潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有 關怡康泰工程集團控股有限公司（「本公司」，連同其附屬公司統 ...

Financial Performance - Revenue for the three months ended June 30, 2023, was HK$73,015,000, an increase of 16.9% compared to HK$62,497,000 for the same period in 2022[15] - Gross profit decreased to HK$652,000, down 85.4% from HK$4,491,000 in the previous year[15] - Loss before income tax was HK$2,080,000, compared to a profit of HK$1,977,000 in the same period last year[15] - The net loss attributable to owners of the Company for the period was HK$2,141,000, compared to a profit of HK$2,029,000 in the prior year[15] - Basic and diluted loss per share was HK$0.009, compared to earnings per share of HK$0.010 in the previous year[15] - The total comprehensive loss for the period was HK$2,141,000, compared to a profit of HK$2,029,000 in the same period last year, indicating a significant decline in performance[31] - For the three months ended June 30, 2023, the Group recorded a net loss of approximately HK$2.1 million compared to a net profit of approximately HK$2.0 million for the same period in 2022[56] - The gross profit for the same period was approximately HK$0.7 million, a decrease of approximately 84.4% from approximately HK$4.5 million in the prior year, resulting in a gross profit margin of approximately 0.9%[72] Expenses and Costs - Administrative and other operating expenses increased to HK$2,759,000 from HK$2,512,000, reflecting a rise of 9.8%[15] - Direct costs rose to HK$72,363,000, up from HK$58,006,000, indicating a 24.8% increase[15] - Deferred income tax expense for the three months ended June 30, 2023, was HK$61,000, compared to a credit of HK$52,000 in 2022[46] - Administrative and other operating expenses rose by approximately HK$0.3 million or 12.0%, from approximately HK$2.5 million to approximately HK$2.8 million, mainly due to higher staff costs[77] Shareholder Information - The Company has not declared any dividends for the period[16] - No dividends were paid or proposed for ordinary shareholders during the three months ended June 30, 2023[49] - The Directors do not recommend the payment of a dividend for the three months ended June 30, 2023, consistent with the prior year[85] - As of June 30, 2023, Mr. Tse Chun Yuen and Mr. Tse Chun Kuen each hold 105,000,000 shares, representing 41.79% of the company's total shareholding[93] - Mr. Tam Wing Yuen is a beneficial owner of 6,000,000 shares, accounting for 2.39% of the total[93] - Land Noble Holdings Limited, beneficially owned by Mr. Tse Chun Yuen and Mr. Tse Chun Kuen, holds 105,000,000 shares, which is 41.79% of the company[103] - The total number of shares held by substantial shareholders is 105,000,000, which is 41.79% of the company's total[102] Corporate Governance - The Company has confirmed compliance with the Required Standard of Dealing for securities transactions by all directors during the three months ended June 30, 2023[110] - The Company has complied with the Corporate Governance Code provisions during the three months ended June 30, 2023[119] - The Company is committed to high standards of corporate governance to protect and promote shareholder interests[119] - The audit committee has reviewed the Group's unaudited condensed consolidated results for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM Listing Rules[121] - The Company has established an audit committee comprising three independent non-executive Directors[120] Market Conditions - The Group's gross profit margin is under pressure due to competitive project pricing on tenders and quotations, affecting overall financial performance[61] - The construction industry in Hong Kong remains challenging, with high competition impacting profit margins for new projects during tendering[57] - The overall business environment has gradually improved, but the Group's tendering results remain unsatisfactory[57] Future Outlook - The Group intends to adopt a more prudent approach in project selection, focusing on tenders from well-established contractors and business partners to maintain steady projects and sound receivables[62] - The Group aims to enhance its operating efficiency and profitability by expanding its fleet of machinery and equipment to improve technical capabilities for future project bids[67] - The Group is exploring opportunities to expand its geographical coverage beyond the Hong Kong market to strengthen its revenue base[68] Other Information - The report is unaudited and covers the first quarter results for 2023[14] - The company has not applied any new standards or interpretations that are not yet effective for the current accounting period[28] - The financial statements are presented in thousands of Hong Kong dollars (HK$'000), consistent with the company's functional currency[22] - The Group's total revenue is derived solely from operations in Hong Kong, with no segment information presented due to the single operating segment classification[40] - The Company has not engaged in any business that competes with the Group's business during the reporting period[115] - During the three months ended June 30, 2023, the Company and its subsidiaries did not purchase, sell, or redeem any of the Company's listed securities[112] - The Company has not granted any share options under the Share Option Scheme since its adoption on September 14, 2017[113]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全 部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 NOBLE ENGINEERING GROUP HOLDINGS LIMITED 怡 康 泰 工 程 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8445） 截 至 二 零 二 三 年 六 月 三 十 日 止 三 個 月 第 一 季 度 業 績 公 佈 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。有意投資的人士應了解投資於該等公司 的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有 關怡康泰工程集團控股有限公司（「本公司」，連同其 ...

Financial Performance - For the year ended March 31, 2023, the Group recorded total revenue of approximately HK$237.2 million, a decrease of approximately 13.9% compared to HK$275.6 million for the year ended March 31, 2022[20]. - The Group reported a net loss of approximately HK$11.6 million for the year ended March 31, 2023, an improvement from a net loss of approximately HK$36.4 million for the previous year[20]. - The decrease in net loss was attributed to an increase in gross profit and gross profit margin for the year ended March 31, 2023[20]. - The gross profit for the year ended 31 March 2023 was approximately HK$1.5 million, turning a loss of approximately HK$23.9 million from the previous year into profit[51]. - The gross profit margin for the year ended 31 March 2023 was approximately 0.6%, compared to a gross loss margin of approximately 8.7% for the previous year[51]. - Other income and gain increased by approximately HK$57,000 to approximately HK$64,000 for the year ended March 31, 2023, mainly due to increased bank interest income[56]. - Administrative and other operating expenses increased by approximately HK$1.0 million or 8.0% to approximately HK$13.3 million for the year ended March 31, 2023[57]. - Finance costs decreased by 73.3% to approximately HK$4,000 for the year ended March 31, 2023 from approximately HK$15,000 for the previous year[58]. - The Group recorded a loss attributed to owners of the Company of approximately HK$11.6 million for the year ended March 31, 2023, a decrease from approximately HK$36.4 million in the previous year[59]. - The Directors do not recommend the payment of a final dividend for the year ended 31 March 2023[60]. Impact of COVID-19 - The ongoing COVID-19 pandemic has significantly impacted the Hong Kong economy and construction industry, affecting cash flows and operational efficiencies[21]. - The Group has incurred additional costs for safe management measures on site due to COVID-19, including safe distancing and regular swab tests[21]. - The construction industry in Hong Kong remains challenging due to COVID-19-related restrictions, impacting cash flows and project timelines[36]. - The Directors believe that the relief of government policies related to COVID-19 and the reopening of borders will positively impact the Group[21]. Strategic Plans and Future Outlook - The Group plans to adopt a more prudent approach in project selection, focusing on tenders from well-established contractors and business partners[22]. - The Group aims to enhance operating efficiency and profitability while expanding its fleet of machinery and equipment to improve technical capabilities for future project bids[28]. - The Group is exploring business opportunities beyond the Hong Kong market to strengthen revenue bases and enhance future development[29]. - The Group expects that diversification of its business will provide better returns to shareholders[31]. - The Board believes that the Group's business strategy and industry expertise can generate greater value for shareholders and investors[30]. - The Group will continue to monitor market conditions closely and respond to changes to maintain its market share in the wet trades works industry[37]. Corporate Governance - The company has adopted the Corporate Governance Code set out in Appendix 15 of the GEM Listing Rules, ensuring compliance during the year ended March 31, 2023[159]. - All Directors confirmed compliance with the Required Standard of Dealing for securities transactions, with no events of non-compliance reported during the year ended March 31, 2023[160]. - The Board is responsible for overseeing the company's strategies, business performance, financial performance, internal controls, and risk management systems[161]. - Liability insurance for Directors and senior management officers is maintained to cover legal liabilities arising from their duties[162]. - The company emphasizes the importance of good corporate governance practices to enhance shareholder value and promote accountability[158]. - The company has a commitment to high standards of corporate governance to protect and promote the interests of all shareholders[159]. - The company has a quality Board and sound internal controls as part of its corporate governance principles[158]. - The company has a dedicated Audit Committee and Remuneration Committee to ensure independent judgment on strategy and performance[143]. - The company has a diverse board with members holding various professional qualifications in accounting and governance[152]. - The Board consists of seven Directors, including three independent non-executive Directors, promoting critical review and control of the management process[190]. - The independent non-executive Directors represent more than one-third of the Board, ensuring compliance with GEM Listing Rules[175]. - The Company has adopted a Board Diversity Policy to enhance the quality of its performance through diverse perspectives[177]. - The Board Diversity Policy considers factors such as gender, age, experience, and educational background when determining Board composition[180]. - The Company has received annual confirmations of independence from all independent non-executive Directors, affirming their impartiality[176]. - The Board is responsible for overseeing the Company's overall strategy and business performance, including financial performance and risk management[166]. - The Company has purchased liability insurance for Directors and senior management to cover potential legal liabilities incurred during their duties[167]. - The Nomination Committee will disclose the Board composition annually and monitor the implementation of the Board Diversity Policy[187]. - The Board has a clear delegation of daily operations and business management to executive Directors and senior executives[168]. - The Company has established measurable objectives for Board diversity, focusing on a range of diversity perspectives[186]. - The Board consists of seven directors, including one female non-executive director and three independent non-executive directors to enhance management oversight and control[195]. - The Nomination Committee will review the effectiveness of the board diversity policy and propose any necessary amendments for board approval[193]. - The summary of the board diversity policy and measurable targets will be disclosed in the company's annual corporate governance report[194]. Capital and Financial Position - As at 31 March 2023, the total issued share capital of the Company was HK$12,564,000 divided into 251,280,000 ordinary shares[68]. - The Company raised net proceeds of approximately HK$10.3 million from the placing of 41,880,000 shares in July 2022 for general working capital[70]. - As of March 31, 2023, approximately HK$8.8 million of the net proceeds from the Rights Issue had been utilized, with remaining unutilized net proceeds expected to be used by December 31, 2023[83][86]. - The Group had cash and cash equivalents of approximately HK$42.0 million as of March 31, 2023, an increase from HK$39.3 million in 2022[84][87]. - Total capital expenditure for the year ended March 31, 2023, was approximately HK$0.3 million, used for the purchase of plant and equipment[96][104]. - The gearing ratio for the Group as of March 31, 2023, was nil, indicating no bank borrowings[90][98]. - The total staff costs for the year ended March 31, 2023, were approximately HK$21.5 million, slightly down from HK$21.6 million in 2022[109][115]. - The Group did not have any significant investments, material acquisitions, or disposals during the year ended March 31, 2023[92][100]. - The Group's primary uses of cash and cash equivalents are expected to continue to be operating costs and capital expenditure[85][87]. - A placing agreement was entered into on June 2, 2023, for the issuance of convertible bonds amounting to up to approximately HK$65.0 million[111][117]. - The gross proceeds from the placing will be used for the up-front cost of newly awarded wet-trade works and for general working capital[112][118]. - As of March 31, 2023, the Group had no material contingent liabilities or capital commitments[97][107].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 NOBLE ENGINEERING GROUP HOLDINGS LIMITED 怡 康 泰 工 程 集 團 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8445） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 之 年 度 業 績 公 佈 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。有意投資的人士應了解投資於該等公司 的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有 關怡康泰工程集團控股有限公司（「本公司」，連同其 ...

Financial Performance - Revenue for the three months ended December 31, 2022, was HK$59,907,000, a decrease of 23.2% compared to HK$78,063,000 for the same period in 2021[15] - Gross profit for the three months ended December 31, 2022, was HK$594,000, compared to a gross loss of HK$6,398,000 in the same period of 2021[15] - Loss before income tax for the three months ended December 31, 2022, was HK$1,817,000, an improvement from a loss of HK$9,373,000 in the same period of 2021[15] - Total comprehensive loss attributable to owners of the Company for the three months ended December 31, 2022, was HK$1,820,000, compared to HK$9,300,000 for the same period in 2021[15] - Basic and diluted loss per share for the three months ended December 31, 2022, was HK$0.007, an improvement from HK$0.044 in the same period of 2021[15] - Revenue for the nine months ended December 31, 2022, was HK$167,646,000, down 29.0% from HK$235,781,000 for the same period in 2021[15] - Gross profit for the nine months ended December 31, 2022, was HK$1,504,000, compared to a gross loss of HK$5,554,000 in the same period of 2021[15] - Loss before income tax for the nine months ended December 31, 2022, was HK$6,104,000, an improvement from a loss of HK$13,836,000 in the same period of 2021[15] - The company reported a loss of HK$6,004,000 for the nine months ended 31 December 2022, compared to a loss of HK$13,612,000 for the same period in 2021, indicating a reduction in losses by approximately 55.9%[18] - For the nine months ended December 31, 2022, the Group recorded a net loss of approximately HK$6.0 million, a decrease from a net loss of approximately HK$13.6 million for the same period in 2021, indicating an improvement in financial performance[59] Equity and Shareholder Information - For the nine months ended 31 December 2022, the total equity attributable to shareholders increased to HK$96,520,000 from HK$92,256,000 as of 1 April 2022, reflecting a growth of approximately 4.1%[18] - The company issued shares on placement, raising a total of HK$10,268,000 during the nine months ended 31 December 2022[18] - As of December 31, 2022, the accumulated losses decreased to HK$2,230,000 from HK$3,774,000 as of 1 April 2022, showing an improvement in retained earnings[18] - The basic and diluted loss per share for the nine months ended December 31, 2022, was HK$0.026, an improvement from HK$0.071 in 2021[48] - The weighted average number of ordinary shares increased to 235,231,000 for the nine months ended December 31, 2022, compared to 191,313,000 in 2021[48] - No dividends were paid or proposed for ordinary shareholders during the nine months ended December 31, 2022, consistent with the previous year[51] - The Company raised net proceeds of approximately HK$10.3 million from the placing of 41,880,000 shares at a price of HK$0.25 each in July 2022, which have all been utilized by December 31, 2022[85][89] - As of December 31, 2022, approximately HK$8.3 million of the net proceeds from the Rights Issue had been used, with the remaining unutilized net proceeds expected to be utilized by September 30, 2023[96][98] - The Directors do not recommend the payment of any dividend for the nine months ended December 31, 2022, consistent with the previous year[84][88] Operating Expenses and Costs - Administrative and other operating expenses for the three months ended December 31, 2022, were HK$2,431,000, a decrease from HK$2,970,000 in the same period of 2021[15] - Administrative and other operating expenses decreased by approximately HK$0.6 million or 7.6% to approximately HK$7.6 million for the nine months ended December 31, 2022[78] - Finance costs for the three months ended December 31, 2022, were significantly reduced, with no interest on bank overdrafts and a decrease in lease interests[41] - Finance costs decreased by 75.0% to approximately HK$3,000 for the nine months ended December 31, 2022, down from approximately HK$12,000 for the same period in 2021[82] Future Outlook and Strategy - Future revenue recognition related to unsatisfied performance obligations as of 31 December 2022 is expected to contribute to upcoming financial periods[35] - The remaining performance obligations expected to be satisfied during the year ending December 31, 2023, amount to HK$175.8 million, up from HK$143.7 million in 2022[38] - The Group is focused on improving operating efficiency and will take a prudent approach in tendering profitable projects to mitigate adverse impacts[60] - The Group plans to selectively place tenders with well-established contractors to ensure steady projects and sound receivables[64] - The Group aims to expand its customer base and market share by undertaking more wet trades projects in or beyond Hong Kong[66] - The Group's long-term goals and sustainable developments remain a priority despite short-term challenges in the industry[62] Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[22] - The company has not applied any new standards or interpretations that are not yet effective for the current accounting period, maintaining consistency in accounting policies[28] - The Company has complied with the Corporate Governance Code during the nine months ended 31 December 2022[125] - The Audit Committee has reviewed the unaudited condensed consolidated results for the nine months ended 31 December 2022 and found them compliant with applicable accounting standards and GEM Listing Rules[128] - All directors have confirmed compliance with the Required Standard of Dealing during the nine months ended December 31, 2022[116] - The Company has established an audit committee comprising three independent non-executive directors[127] - The Company is committed to high standards of corporate governance to enhance corporate value and accountability[126] - The Company has made adequate disclosures in its financial reporting for the nine months ended 31 December 2022[128] Shareholding Structure - Mr. Tse Chun Yuen and Mr. Tse Chun Kuen each hold 105,000,000 shares, representing 41.79% of the total shareholding[102] - Mr. Tam Wing Yuen is a beneficial owner of 6,000,000 shares, accounting for 2.39% of the total shareholding[102] - Land Noble Holdings Limited is beneficially owned 50% by Mr. Tse Chun Yuen and 50% by Mr. Tse Chun Kuen[102] - As of December 31, 2022, no directors or chief executives had any interests or short positions in the shares of the Company or its associated corporations[104] - The Company has not purchased, sold, or redeemed any of its listed securities during the nine months ended December 31, 2022[118] - The Company adopted a share option scheme on September 14, 2017, but no share options have been granted under this scheme since its adoption[119] - As of December 31, 2022, Land Noble Holdings is a substantial shareholder with 105,000,000 shares, representing 41.79% of the Company[108] - Mr. Wang Wei and Mr. Sun Yiyun each hold 20,940,000 shares, which is 8.33% of the total shareholding[108] - Mr. Tse Man Loong holds 14,150,000 shares, representing 5.63% of the total shareholding[108] - There were no business activities that directly or indirectly competed with the Group's business by the directors or controlling shareholders during the nine months ended December 31, 2022[121]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous period[13]. - Revenue for the six months ended 30 September 2022 was HK$107,739,000, a decrease of 31.7% compared to HK$157,718,000 for the same period in 2021[38]. - Revenue for the three months ended 30 September 2022 was HK$45,242,000, down 45% from HK$82,158,000 in the same quarter of 2021[38]. - The gross profit for the same period was approximately HK$0.9 million, an increase of approximately 12.5% from HK$0.8 million in the prior year, with a gross profit margin of approximately 0.8% compared to 0.5%[88]. - The Group's revenue for the six months ended September 30, 2022, was approximately HK$107.7 million, a decrease of approximately 31.7% compared to the same period in 2021[84]. Loss and Expenses - Gross loss for the six months ended September 30, 2022, was HK$4,184,000, compared to a loss of HK$4,312,000 in the same period of 2021[16]. - Loss before income tax for the three months ended September 30, 2022, was HK$6,264,000, significantly higher than the loss of HK$2,667,000 in the same period of 2021[16]. - The loss before income tax for the six months ended 30 September 2022 was HK$4,184,000, compared to a loss of HK$4,312,000 for the same period in 2021, indicating a slight improvement[54]. - The Group recorded a loss attributed to owners of the Company of approximately HK$4.2 million for the six months ended 30 September 2022, compared to a loss of approximately HK$4.3 million for the same period in 2021[92]. - The company reported a loss per share of HK$0.025 for the three months ended September 30, 2022, compared to HK$0.012 in the same period of 2021[16]. Cash Flow and Assets - Cash used in operations for the six months ended September 30, 2022, was HK$17,030,000, slightly improved from HK$17,408,000 in the same period of 2021[26]. - Cash and cash equivalents at the end of the period were HK$32,474,000, down from HK$33,870,000 at the end of the same period in 2021[26]. - As of September 30, 2022, the company had cash and cash equivalents of approximately HK$32.5 million, down from HK$39.3 million as of 31 March 2022[106]. - Net current assets increased to HK$97,075,000 as of September 30, 2022, up from HK$90,258,000 as of March 31, 2022[21]. - Total equity as of September 30, 2022, was HK$98,340,000, an increase from HK$92,256,000 as of March 31, 2022[21]. Strategic Outlook - The company provided a positive outlook for the next quarter, projecting revenue growth of BB% based on current market trends and user acquisition strategies[13]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[13]. - The company aims to improve its profit margins by GG% through enhanced product offerings and market penetration strategies[13]. - Future guidance indicates a commitment to sustainable growth, with an emphasis on environmental and social governance initiatives[13]. - The Group aims to remain focused on long-term goals and sustainable developments despite short-term challenges[77]. Market and Operational Challenges - The ongoing COVID-19 outbreak has significantly impacted the Hong Kong economy and construction industry, affecting cash flows and operational efficiencies[77]. - The construction market in Hong Kong is experiencing adjustments under weakened market sentiment, leading to additional costs for management measures on site[77]. - The Directors believe the overall industry outlook remains difficult and challenging due to ongoing market conditions[77]. - The Company incurred additional costs due to workforce shortages and management measures related to COVID-19, including social distancing and regular testing[77]. - The Board will take appropriate measures to improve operating efficiency and adopt a prudent approach in tendering profitable projects[78]. Corporate Governance - The Company has complied with the code provisions of the CG Code[140]. - The Company is committed to high standards of corporate governance to enhance shareholder value and accountability[141]. - The Company has established an audit committee comprising three independent non-executive Directors[143]. - The Company has adopted the Corporate Governance Code since its Listing Date[141]. - The Audit Committee has reviewed the unaudited condensed consolidated results for the six months ended 30 September 2022 and confirmed compliance with applicable accounting standards and GEM Listing Rules[143].