Financial Performance - For the nine months ended December 31, 2019, the group recorded revenue of approximately HKD 256.9 million, an increase of about HKD 7.5 million or 3.0% compared to the same period in 2018[4]. - The net profit attributable to the owners of the company for the nine months ended December 31, 2019, was approximately HKD 13.9 million, a decrease of about HKD 6.7 million from HKD 20.6 million in the same period of 2018[5]. - The gross profit for the nine months ended December 31, 2019, was HKD 33.0 million, compared to HKD 33.8 million for the same period in 2018, reflecting a slight decrease[8]. - The basic earnings per share for the nine months ended December 31, 2019, was HKD 4.97, down from HKD 7.36 in the same period of 2018[8]. - The total comprehensive income for the period was HKD 13.9 million, compared to HKD 20.6 million for the same period in 2018[8]. - The increase in sales and distribution costs and administrative expenses contributed to the decrease in net profit[5]. - The company's revenue for the nine months ended December 31, 2019, was HKD 256,931,000, an increase from HKD 249,401,000 for the same period in 2018, representing a growth of approximately 3.5%[57]. - Revenue from major products for the three months ended December 31, 2019, totaled HKD 88,554,000, compared to HKD 85,563,000 in the same period of 2018, indicating a year-over-year increase of about 3.5%[57]. - The company reported a pre-tax profit of HKD 1,529,000 for the three months ended December 31, 2019, compared to HKD 1,367,000 for the same period in 2018, reflecting an increase of approximately 11.8%[62]. - Revenue from customer categories showed that sales to wholesalers amounted to HKD 238,676,000 for the nine months ended December 31, 2019, compared to HKD 235,152,000 in the same period of 2018, marking an increase of about 1.1%[58]. - The company’s revenue from external customers in Hong Kong for the nine months ended December 31, 2019, was HKD 202,192,000, a slight decrease from HKD 205,931,000 in the same period of 2018[59]. - The cost of goods sold for the nine months ended December 31, 2019, was HKD 223,918,000, compared to HKD 215,642,000 for the same period in 2018, representing an increase of approximately 3.0%[62]. - The company’s operating expenses, including employee costs, were HKD 4,592,000 for the nine months ended December 31, 2019, compared to HKD 3,733,000 for the same period in 2018, reflecting an increase of about 23.1%[62]. - The company recorded a net profit of approximately HKD 13.9 million for the nine months ended December 31, 2019, down from HKD 20.6 million for the same period in 2018, representing a decrease of about 32.8%[69]. - Revenue increased by approximately 3.0% to about HKD 256.9 million for the nine months ended December 31, 2019, compared to HKD 249.4 million for the same period in 2018[72]. - Cost of goods sold rose by approximately 3.8% to about HKD 223.9 million for the nine months ended December 31, 2019, compared to HKD 215.6 million for the same period in 2018[73]. - Gross profit decreased by approximately 2.2% to about HKD 33.0 million for the nine months ended December 31, 2019, with a gross margin of approximately 12.8%, down from 13.5% in the same period of 2018[74]. - Selling and distribution costs increased by approximately 29.3% to about HKD 5.3 million for the nine months ended December 31, 2019, compared to HKD 4.1 million for the same period in 2018[74]. - Administrative expenses rose significantly from approximately HKD 5.2 million to about HKD 9.5 million for the nine months ended December 31, 2019, primarily due to increased legal and professional fees[77]. - Tax expenses decreased by approximately 14.4% to about HKD 3.67 million for the nine months ended December 31, 2019, compared to HKD 4.28 million for the same period in 2018[79]. Dividend and Shareholder Information - The company did not recommend the payment of a dividend for the nine months ended December 31, 2019[5]. - The board did not recommend any dividend distribution for the nine months ended December 31, 2019, consistent with the previous year[88]. - The company declared a final dividend of HKD 0.027 per share for the year ended March 31, 2019, totaling HKD 7,560,000, up from HKD 6,160,000 for the previous year[67]. - There were no buybacks, sales, or redemptions of the company's listed securities during the nine months ended December 31, 2019[99]. - No share options have been granted, exercised, expired, or lapsed under the share option scheme as of December 31, 2019[102]. Accounting Standards and Financial Reporting - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards applicable to interim periods[20]. - The company adopted new and revised Hong Kong Financial Reporting Standards, effective from April 1, 2019, with no significant impact on financial performance or disclosures for the current and prior periods[23]. - The application of HKFRS 16 "Leases" has replaced HKAS 17 and related interpretations, affecting the accounting policies of the company[27]. - The company recognizes right-of-use assets at the lease commencement date, measured at cost, less any accumulated depreciation and impairment losses[33]. - The cost of right-of-use assets includes the initial measurement amount of lease liabilities and any direct costs incurred by the company[34]. - Lease liabilities are recognized at the present value of unpaid lease payments at the lease commencement date[37]. - The company applies exemptions for short-term leases and low-value asset leases, recognizing lease payments on a straight-line basis over the lease term[30]. - The company will not reassess contracts identified as leases prior to the initial application date of HKFRS 16[45]. - The transition to HKFRS 16 did not result in the recognition of any right-of-use assets or lease liabilities as all leases will end within 12 months from the application date[46]. - The company will adjust lease liabilities through interest accrual and lease payments after the commencement date[42]. - Variable lease payments that depend on market rent changes will be measured at the market rent at the commencement date[41]. - The company did not make any adjustments to the financial statements due to the application of HKFRS 16, indicating a stable transition to the new accounting standard[52]. Corporate Governance and Compliance - The company has adhered to the corporate governance code since its listing on October 19, 2017[106]. - The Audit Committee was established on September 21, 2017, and consists of three independent non-executive directors[107]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2019, and found the performance to comply with applicable accounting standards and GEM listing rules[110]. - The Board of Directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[110]. - The company has adopted the GEM Listing Rules regarding the trading of securities by directors, confirming compliance since the listing date[101]. Business Operations and Strategy - The group primarily engages in the import and wholesale of frozen seafood products and property holding[18]. - The company aims to expand its product portfolio through exclusive agency agreements and sales agency arrangements with new suppliers[70]. - The net proceeds from the share offering amounted to approximately HKD 63.0 million, with HKD 55.1 million already utilized for various operational enhancements[82]. - The company's overall performance is reviewed periodically by the main decision-makers to assess financial performance and allocate resources effectively, maintaining a focus on the frozen seafood import and wholesale business[54]. - The company has not engaged in any business activities that could directly or indirectly compete with the group during the nine months ended December 31, 2019[100]. - No significant investments, acquisitions, or disposals related to subsidiaries or associates were reported for the nine months ended December 31, 2019[87]. Debt and Equity - As of December 31, 2019, the total bank borrowings of the group amounted to approximately HKD 7.1 million, a decrease from HKD 16.4 million as of March 31, 2019[86]. - The company's total equity attributable to owners was approximately HKD 134.5 million as of December 31, 2019, up from HKD 128.2 million as of March 31, 2019[83]. - The group's debt-to-equity ratio was approximately 5.3% as of December 31, 2019, down from 12.8% as of March 31, 2019[86].

Financial Performance - For the six months ended September 30, 2019, the group recorded revenue of approximately HKD 168.4 million, an increase of about HKD 4.6 million or 2.8% compared to the same period in 2018[3]. - The net profit attributable to the owners of the company for the six months ended September 30, 2019, was approximately HKD 8.0 million, a decrease of about HKD 5.2 million from HKD 13.2 million in the same period of 2018[4]. - Gross profit for the six months ended September 30, 2019, was HKD 21.2 million, compared to HKD 21.5 million for the same period in 2018, reflecting a slight decrease[8]. - The total comprehensive income for the period was HKD 7.96 million, down from HKD 13.17 million in the previous year[8]. - The basic earnings per share for the six months ended September 30, 2019, was HKD 2.84, down from HKD 4.70 in the same period of 2018[8]. - Revenue increased by approximately 2.8% to about HKD 168.4 million for the six months ended September 30, 2019, compared to approximately HKD 163.8 million for the same period in 2018, driven by higher sales of frozen seafood products[94]. - The cost of goods sold rose by approximately 3.4% to about HKD 147.2 million for the six months ended September 30, 2019, compared to approximately HKD 142.4 million for the same period in 2018[95]. - Gross profit decreased to approximately HKD 21.2 million for the six months ended September 30, 2019, from approximately HKD 21.5 million for the same period in 2018, resulting in a gross margin of about 12.6%, down from 13.1%[96]. Cash Flow and Assets - The net cash generated from operating activities for the period ending September 30 was HKD 6,921,000[25]. - The net cash used in investing activities included cash outflows of HKD 50,639,000 for the acquisition of assets and liabilities through the purchase of a subsidiary[25]. - The net cash generated from financing activities included new bank borrowings of HKD 22,000,000 and dividend payments of HKD 18,120,000[25]. - The cash and cash equivalents at the end of the period amounted to HKD 15,749,000, down from HKD 20,853,000 at the beginning of the period[25]. - The company reported a net decrease in cash and cash equivalents of HKD 5,104,000 during the period[25]. - The group’s total assets as of September 30, 2019, were HKD 153.74 million, compared to HKD 153.82 million as of March 31, 2019[11]. - Current assets amounted to HKD 91.23 million, slightly down from HKD 91.31 million as of March 31, 2019[11]. - The group’s current liabilities were HKD 25.10 million, a decrease from HKD 25.52 million as of March 31, 2019[11]. - The net asset value as of September 30, 2019, was HKD 128.59 million, compared to HKD 128.19 million as of March 31, 2019[14]. - Trade receivables as of September 30, 2019, amounted to HKD 37,436,000, up from HKD 28,576,000 as of March 31, 2019, indicating a growth of 31.0%[79]. - The total bank borrowings as of September 30, 2019, were HKD 12,397,000, a decrease from HKD 16,232,000 as of March 31, 2019[84]. - The group’s total equity attributable to owners was approximately HKD 128.6 million as of September 30, 2019, compared to HKD 128.2 million as of March 31, 2019[106]. - As of September 30, 2019, the total bank borrowings of the group amounted to approximately HKD 12.5 million, down from HKD 16.4 million as of March 31, 2019[109]. - The group's debt-to-equity ratio was approximately 9.8% as of September 30, 2019, compared to 12.8% as of March 31, 2019[109]. Expenses and Costs - Sales and distribution costs increased by approximately 35.4% to about HKD 3.5 million for the six months ended September 30, 2019, compared to approximately HKD 2.6 million for the same period in 2018[97]. - Administrative expenses rose significantly from approximately HKD 3.4 million for the six months ended September 30, 2018, to about HKD 7.0 million for the same period in 2019, mainly due to increased legal and professional fees[100]. - The company incurred interest expenses of HKD 104,000 for the three months ended September 30, 2019, compared to HKD 66,000 for the same period in 2018, representing a 57.6% increase[74]. - The company spent HKD 110,000 on the purchase of property, plant, and equipment for the six months ended September 30, 2019, significantly lower than HKD 7,264,000 for the same period in 2018[78]. Dividends and Shareholder Returns - The board of directors does not recommend the payment of a dividend for the six months ended September 30, 2019[5]. - The company declared a final dividend of HKD 0.027 per share, totaling HKD 7,560,000 for the interim period, an increase from HKD 6,160,000 in the previous year[77]. - The board did not recommend any dividend distribution for the six months ended September 30, 2019, consistent with the previous period[111]. Corporate Governance and Compliance - The company is registered as an exempted company in the Cayman Islands and primarily engages in frozen seafood import and wholesale[31]. - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards applicable for the interim period[33]. - The company adopted new accounting standards effective from January 1, 2019, which did not have a significant impact on the financial performance[36]. - The company has maintained good corporate governance practices since its listing on October 19, 2017, in accordance with the GEM Listing Rules[131]. - The Audit Committee was established on September 21, 2017, and consists of three independent non-executive directors, with Mr. Su Yuqi as the chairman[132]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2019, and found the performance to comply with applicable accounting standards and GEM listing rules[134]. - The board of directors includes executive directors Mr. Chen Jianfeng and Ms. Xie Chunxia, along with independent non-executive directors Mr. Su Yuqi, Mr. Li Jinyun, and Dr. Liang Weiping[134]. Business Operations - The company aims to enhance its market position in the frozen seafood import and wholesale industry in Hong Kong by expanding its product range through exclusive agency agreements with new suppliers[92]. - The company has established sales agency arrangements with several new overseas suppliers since its listing, aiming to further expand its product portfolio[92]. - The group operates in a single business segment focused on the import and wholesale of frozen seafood, with no further analysis presented for this segment[64]. - The group recognized lease liabilities of HKD 119,000 and HKD 90,000 as current and non-current liabilities respectively, as of April 1, 2019[61]. - The group does not expect significant impacts from the application of HKFRS 16 on the financial statements for the six months ended September 30, 2019[63].

Financial Performance - For the three months ended June 30, 2019, the group recorded revenue of approximately HKD 82.5 million, an increase of about HKD 2.4 million or 3.0% compared to the same period in 2018 [4]. - The net profit attributable to the owners of the company for the same period was approximately HKD 3.1 million, a decrease of about HKD 3.3 million from HKD 6.4 million in the prior year, primarily due to expenses related to the proposed transfer of listing and increased sales and distribution costs [5]. - Gross profit for the three months ended June 30, 2019, was HKD 10.2 million, slightly down from HKD 10.2 million in the same period of 2018 [9]. - The company reported a basic earnings per share of HKD 1.10 for the three months ended June 30, 2019, down from HKD 2.29 in the same period of 2018 [9]. - The pre-tax profit for the three months ended June 30, 2019, was HKD 832,000, compared to HKD 0 for the same period in 2018 [68]. - The company reported a profit attributable to owners of approximately HKD 3.1 million for the three months ended June 30, 2019, down from HKD 6.4 million for the same period in 2018, representing a decrease of about 51.6% [78]. - Revenue increased by approximately 3.0% to HKD 82.5 million for the three months ended June 30, 2019, compared to HKD 80.1 million for the same period in 2018, driven by higher sales of certain products [80]. - The cost of goods sold rose by approximately 3.4% to HKD 72.3 million for the three months ended June 30, 2019, compared to HKD 69.9 million for the same period in 2018 [83]. - Gross profit remained stable at approximately HKD 10.2 million for both periods, but the gross margin decreased from 12.7% to 12.4% [84]. - Selling and distribution costs increased by approximately 49.0% to HKD 1.8 million for the three months ended June 30, 2019, compared to HKD 1.2 million for the same period in 2018 [85]. - Tax expenses decreased by approximately 29.5% to HKD 944,000 for the three months ended June 30, 2019, compared to HKD 1,339,000 for the same period in 2018 [89]. Assets and Liabilities - The total assets less current liabilities as of June 30, 2019, amounted to HKD 131.36 million, up from HKD 128.30 million as of March 31, 2019 [15]. - Current assets as of June 30, 2019, totaled HKD 95.67 million, compared to HKD 91.32 million as of March 31, 2019 [12]. - The total equity of the company increased to HKD 131.28 million as of June 30, 2019, from HKD 128.19 million as of March 31, 2019 [15]. - The total bank borrowings of the group as of June 30, 2019, were approximately HKD 14.2 million, down from HKD 16.2 million as of March 31, 2019, indicating a reduction of about 12.35% [95]. - The group's debt-to-equity ratio was approximately 10.9% as of June 30, 2019, compared to 12.8% as of March 31, 2019, reflecting a decrease of 1.9 percentage points [95]. Cash Flow - The net cash used in operating activities for the period ended June 30, 2019, was (4,935) thousand HKD, compared to (7,494) thousand HKD for the same period in 2018 [27]. - The net cash generated from financing activities was 10,000 thousand HKD, while cash used for repaying bank loans was (12,415) thousand HKD [27]. - The cash and cash equivalents at the end of the period decreased by 2,562 thousand HKD, compared to an increase of 37,778 thousand HKD in the previous year [27]. - The cash and cash equivalents at the beginning of the period were 20,853 thousand HKD, and at the end of the period were 13,359 thousand HKD [27]. - Cash and cash equivalents decreased to HKD 13.71 million from HKD 20.85 million as of March 31, 2019 [12]. Corporate Governance and Compliance - The board of directors does not recommend the payment of a dividend for the three months ended June 30, 2019 [6]. - The board of directors did not recommend the distribution of any dividends for the three months ended June 30, 2019, consistent with the previous year [97]. - The company has maintained compliance with the GEM Listing Rules regarding securities transactions by directors since the date of listing [111]. - The company has adhered to the corporate governance code since its listing on October 19, 2017 [116]. - The audit committee was established on September 21, 2017, and consists of three independent non-executive directors [117]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2019, and found them compliant with applicable accounting standards [119]. Business Operations - The company is classified as an investment holding company, primarily engaged in the import and wholesale of frozen seafood products [28]. - The company’s operating activities are focused on the import and wholesale of frozen seafood products, classified as a single operating segment [61]. - Revenue from major products included crab and roe at HKD 7,716,000, fish at HKD 12,140,000, and squid at HKD 4,044,000, contributing to a total of HKD 82,472,000 [64]. - Revenue by customer type showed seafood resellers generated HKD 76,944,000, while frozen seafood catering service providers contributed HKD 5,528,000, totaling HKD 82,472,000 [65]. - Revenue by region indicated that Hong Kong accounted for HKD 65,852,000, China for HKD 9,580,000, and Macau for HKD 6,587,000, totaling HKD 82,472,000 [66]. - The company aims to strengthen its market position in the frozen seafood import and wholesale industry through new supplier arrangements and expanding its product portfolio [79]. - The management maintains a cautiously optimistic outlook for the business despite the current economic downturn in Hong Kong [78]. Accounting Standards - The company adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2019, which did not have a significant impact on the financial performance and position [33]. - The financial data for the quarter ended June 30, 2019, was prepared in accordance with Hong Kong Accounting Standards [30]. - The company has applied the new Hong Kong Financial Reporting Standard 16 on leases, which replaces the previous standard and affects the accounting policies [36]. - The initial measurement of lease liabilities is based on the present value of unpaid lease payments at the lease commencement date [47]. - The company will recognize right-of-use assets at the commencement date, measured at cost less accumulated depreciation and impairment losses [41]. - The company applied HKFRS 16 from April 1, 2019, with no significant impact on the financial statements for the three months ended June 30, 2019 [60]. - The company reported no adjustments to the financial data for leases as a lessor under HKFRS 16 during the transition [59]. Shareholder Information - The total number of shares held by major shareholders, including Chen Jianfeng and Xie Chunxia, is 210,000,000 shares, representing 75% of the total shareholding [99]. - No share options were granted, exercised, expired, or lapsed under the share option scheme during the three months ended June 30, 2019 [112]. - There were no buybacks, sales, or redemptions of the company's listed securities during the three months ended June 30, 2019 [109]. - The company has not engaged in any business that constitutes or may constitute competition with the group during the three months ended June 30, 2019 [110]. - No significant investments, acquisitions, or disposals related to subsidiaries or associates occurred during the three months ended June 30, 2019 [96].

Financial Performance - For the fiscal year ending March 31, 2019, the company's revenue increased by approximately HKD 87.6 million or 36.5% to about HKD 327.4 million compared to the fiscal year ending March 31, 2018[10]. - The net profit for the fiscal year 2019 was approximately HKD 25.0 million, a significant increase from HKD 6.7 million in the previous fiscal year[10]. - The company recorded a significant increase in gross profit, contributing to the rise in net profit[10]. - Revenue increased by approximately 36.5% from about HKD 239.8 million for the year ending March 31, 2018, to about HKD 327.4 million for the year ending March 31, 2019, driven by new product launches and strong demand for existing products[26]. - Gross profit for the year ending March 31, 2019, was approximately HKD 43.5 million, an increase of about 38.5% from HKD 31.4 million for the previous year, with a gross margin of approximately 13.3%[30]. - The company reported a profit attributable to owners of approximately HKD 25.0 million for the year ended March 31, 2019, compared to HKD 6.7 million for the year ended March 31, 2018, representing an increase of approximately 273.9%[36]. Operational Developments - The company expanded its product range to over 100 varieties and served more than 300 customers during the year[11]. - A property holding company was acquired, which includes a factory unit with a total floor area of approximately 10,044 square feet, enhancing the company's cold storage capacity[11]. - The new warehouse will reduce reliance on external cold storage, leading to savings in storage costs[11]. - The company aims to strengthen its market position in the frozen seafood import and wholesale industry in Hong Kong[11]. - The company aims to enhance its market position in the frozen seafood import and wholesale industry through new sales agency arrangements with overseas suppliers[25]. - The company plans to continue seeking exclusive agency or sales arrangements with both existing and new overseas suppliers to enrich its product offerings[25]. Cost and Expenses - The cost of goods sold rose to approximately HKD 283.9 million for the year ending March 31, 2019, up about 36.2% from HKD 208.4 million for the previous year, reflecting the revenue growth[27]. - Selling and distribution costs increased to approximately HKD 6.0 million for the year ending March 31, 2019, up about 35.0% from HKD 4.4 million for the previous year, primarily due to increased external warehouse usage[31]. - Administrative expenses rose to approximately HKD 7.7 million for the year ending March 31, 2019, from HKD 5.4 million for the previous year, mainly due to increased legal and professional fees related to compliance[32]. - Tax expenses increased from approximately HKD 3.7 million for the year ended March 31, 2018, to approximately HKD 5.1 million for the year ended March 31, 2019, an increase of about HKD 1.4 million or 37.4%[35]. Shareholder and Corporate Governance - The company proposed a final dividend of HKD 0.027 per share for the year ended March 31, 2019, totaling HKD 7,560,000, compared to HKD 6,160,000 for the previous year[65]. - Major shareholders hold 210,000,000 shares each, representing 75% ownership in the company[90]. - The company has established a director and officer liability insurance for its directors and senior officers[98]. - The company has adhered to the corporate governance code since its listing date on October 19, 2017, with the exception of a deviation regarding the roles of the chairman and CEO[135]. - The board consists of two executive directors and three independent non-executive directors, with all members having attended 100% of the five board meetings held in the fiscal year ending March 31, 2019[151]. Environmental and Social Responsibility - The group is committed to minimizing its negative environmental impact and adhering to environmental laws[107]. - The company emphasizes its commitment to environmental and social responsibilities as a core part of its operations and stakeholder value creation[193]. - The company is committed to balancing effective operations with environmental protection and has established policies for pollution prevention and natural resource conservation[195]. - The annual fuel consumption of the company's trucks is approximately 14,660 liters, covering a distance of about 125,299 kilometers[199]. - The emissions data from the company's operations includes nitrogen oxides at 371.8 kg, sulfur oxides at 0.2 kg, and particulate matter at 33.1 kg[200]. Risk Management and Internal Controls - The company has adopted a risk management framework that includes identifying significant risks in the operating environment and assessing their impact on the business[173]. - The board has reviewed the effectiveness of the risk management and internal control systems for the year ending March 31, 2019, and deemed them effective[175]. - The company has implemented a systematic review of financial and business processes to ensure effective internal controls[173]. - An independent internal control consultant was appointed to review the internal control system prior to the company's listing, identifying and correcting significant issues[171]. Compliance and Regulatory Matters - The compliance advisor has been appointed to provide guidance on adherence to GEM listing rules, effective from the listing date until the publication of financial results for the second full fiscal year post-listing[176]. - The company has complied with GEM listing rules regarding continuous connected transactions during the reporting period[96]. - The company has maintained sufficient public float as per GEM listing rules as of the report date[105].

Financial Performance - For the nine months ended December 31, 2018, the group recorded revenue of approximately HKD 249.4 million, an increase of about HKD 75.6 million or 43.5% compared to the same period in 2017[5]. - The profit attributable to the owners of the company for the nine months ended December 31, 2018, was approximately HKD 20.6 million, an increase of about HKD 18.5 million compared to HKD 2.1 million in the same period of 2017, representing a growth of 878.6%[6]. - The group reported a gross profit of HKD 33.8 million for the nine months ended December 31, 2018, compared to HKD 22.5 million for the same period in 2017, reflecting a significant increase in gross margin[10]. - The total comprehensive income for the nine months ended December 31, 2018, was HKD 20.6 million, a significant increase from HKD 2.1 million in the same period of 2017[10]. - For the nine months ended December 31, 2018, the company recorded a net profit of approximately HKD 20.6 million, compared to HKD 2.1 million for the same period in 2017, representing a significant increase attributed to higher revenue and gross profit[64]. - Revenue for the nine months ended December 31, 2018, increased by approximately 43.5% to about HKD 249.4 million, up from approximately HKD 173.8 million for the same period in 2017, driven by new product launches and strong demand for existing products[68]. Revenue Breakdown - Revenue from shrimp products reached HKD 75,128 thousand for the nine months ended December 31, marking a substantial increase compared to HKD 41,611 thousand in the same period last year, representing an increase of about 80.8%[56]. - The group’s revenue from frozen seafood wholesalers and food service providers amounted to HKD 235,152 thousand for the nine months ended December 31, compared to HKD 163,104 thousand in the previous year, indicating a growth of approximately 44.1%[56]. - The group’s revenue from fish products totaled HKD 34,248 thousand for the nine months ended December 31, up from HKD 19,916 thousand in the same period last year, reflecting an increase of about 72%[56]. - The group’s revenue from octopus and squid products was HKD 17,077 thousand for the nine months ended December 31, compared to HKD 10,779 thousand in the previous year, showing a growth of approximately 58.3%[56]. - The group’s revenue from crab and roe products reached HKD 19,916 thousand for the nine months ended December 31, compared to HKD 7,689 thousand in the previous year, representing an increase of about 159.5%[56]. Expenses and Costs - The cost of goods sold for the nine months ended December 31, 2018, was approximately HKD 215.6 million, an increase of about 42.5% from approximately HKD 151.3 million for the same period in 2017, consistent with revenue growth[69]. - Selling and distribution costs for the nine months ended December 31, 2018, were approximately HKD 4.1 million, an increase of about 24.2% from approximately HKD 3.3 million for the same period in 2017, primarily due to increased external warehouse usage and logistics personnel[72]. - Administrative expenses increased from approximately HKD 3.7 million for the nine months ended December 31, 2017, to approximately HKD 5.2 million for the nine months ended December 31, 2018, primarily due to increased legal and professional fees related to compliance requirements for listing[73]. - Financial costs decreased from approximately HKD 458,000 for the nine months ended December 31, 2017, to approximately HKD 412,000 for the nine months ended December 31, 2018[74]. - Tax expenses rose from approximately HKD 2.6 million for the nine months ended December 31, 2017, to approximately HKD 4.3 million for the nine months ended December 31, 2018, an increase of approximately HKD 1.7 million or 63.2%[75]. Dividends and Shareholder Information - The board of directors did not recommend the payment of any dividend for the nine months ended December 31, 2018[7]. - The company declared a final dividend of HKD 0.022 per share for the year ending March 31, 2018, totaling HKD 6.16 million, compared to no dividend for the same period in 2017[62]. - The company did not declare any dividends for the nine months ended December 31, 2018, consistent with the previous period[84]. - The company’s major shareholders include individuals holding approximately 75% of the shares, indicating a concentrated ownership structure[88]. - The beneficial owner of the shares is Sai Xin Holdings Limited, holding 210,000,000 shares, representing 75% ownership[92]. Compliance and Governance - The company has complied with the corporate governance code since its listing on October 19, 2017[104]. - The audit committee was established on September 21, 2017, and consists of three independent non-executive directors, with responsibilities including reviewing financial statements and overseeing internal control procedures[105]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2018, and found them compliant with applicable accounting standards and regulations[107]. - The company confirmed that all directors have adhered to the prescribed trading code since the listing date[99]. Accounting Standards - The financial statements are presented in Hong Kong dollars (HKD), which is the functional currency of the company[23]. - The quarterly financial data is prepared in accordance with the Hong Kong Financial Reporting Standards and the GEM Listing Rules[24]. - The company has adopted the new Hong Kong Financial Reporting Standards, including HKFRS 15, which introduces a five-step model for revenue recognition[30]. - The company has implemented HKFRS 9, which introduces new classification and measurement requirements for financial assets and liabilities[37]. - The application of HKFRS 15 and HKFRS 9 did not have a significant impact on the financial results for the quarter[34][39]. - The accounting policies and methods used in the preparation of the financial statements are consistent with those used in the previous financial year[25].