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].