Financial Performance - The group's revenue decreased by approximately HKD 12.5 million or 21.0% to HKD 47.2 million for the six months ended September 30, 2023, compared to HKD 59.7 million for the same period in 2022[14]. - The group's gross profit increased by approximately HKD 1.6 million or 186.5% to HKD 0.8 million for the six months ended September 30, 2023, compared to a gross loss of HKD 0.9 million in the same period in 2022[16]. - The group recorded a loss of approximately HKD 12.4 million for the six months ended September 30, 2023, compared to a loss of approximately HKD 36.1 million in the same period in 2022[21]. - The net loss attributable to the company's owners for the six months ended September 30, 2023, was HKD 12.4 million, a significant improvement from a loss of HKD 36.1 million in the same period of 2022[40]. - The company reported a net loss of HKD 12,399,000 for the six months ended September 30, 2023, compared to a net loss of HKD 36,136,000 for the same period in 2022, indicating an improvement of approximately 65.7%[43]. Revenue and Costs - Direct costs reduced by approximately HKD 14.1 million or 23.4% to HKD 46.4 million for the six months ended September 30, 2023, from HKD 60.6 million in the previous period[15]. - Other income decreased by approximately HKD 3.0 million or 71.5% to HKD 1.2 million for the six months ended September 30, 2023, primarily due to a government subsidy received in the previous period[17]. - Other losses increased by approximately HKD 2.3 million or 234.1% to HKD 3.2 million for the six months ended September 30, 2023, mainly due to the sale and write-off of plant and machinery[19]. - Administrative expenses increased by approximately HKD 0.8 million or 7.3% to HKD 11.1 million for the six months ended September 30, 2023, attributed to higher consulting and legal fees[20]. - Financing costs decreased by approximately HKD 2.1 million or 96.6% to HKD 0.1 million for the six months ended September 30, 2023, due to financial restructuring and no bank loan interest incurred[21]. Assets and Liabilities - As of September 30, 2023, the group's net debt was approximately HKD 65.3 million, an increase from HKD 52.9 million as of March 31, 2023[24]. - The group's current liabilities amounted to approximately HKD 132.4 million as of September 30, 2023, compared to HKD 126.9 million as of March 31, 2023[24]. - The company's total liabilities increased to HKD 132,364,000 as of September 30, 2023, compared to HKD 126,872,000 as of March 31, 2023, marking an increase of approximately 4.0%[42]. - The company's equity total decreased to HKD (65,288,000) as of September 30, 2023, from HKD (52,888,000) as of March 31, 2023, indicating a deterioration in financial position[42]. - The group's asset-liability ratio was 99.5% as of September 30, 2023, a decrease from 126.1% as of March 31, 2023, due to repayment of bank loans[25]. Cash Flow - Cash and cash equivalents increased to HKD 5,021,000 as of September 30, 2023, up from HKD 3,594,000 at the beginning of the period, reflecting a net increase of 39.6%[45]. - The net cash used in operating activities for the six months ended September 30, 2023, was HKD (2,208,000), a significant decline from HKD 8,847,000 generated in the same period of 2022[45]. Contracts and Projects - As of September 30, 2023, the total contract amount increased to HKD 440.6 million, with 10 contracts awarded, including 1 new contract worth HKD 6.8 million[12]. - The group aims to actively participate in large-scale government infrastructure projects to drive sustainable development and meet changing customer needs[22]. - The company continues to focus on providing civil engineering construction services primarily in Hong Kong[53]. Employee Costs - The total employee cost for the six months ended September 30, 2023, was approximately HKD 10.8 million, a decrease from HKD 24.0 million for the same period in 2022[37]. - The total employee costs for the six months ended September 30, 2023, were HKD 10,769,000, a decrease from HKD 24,087,000 in the same period of 2022[62]. Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code as of September 30, 2023[98]. - The board comprises three executive directors and three independent non-executive directors as of the report date[99]. - All directors confirmed compliance with the trading code during the period from April 1, 2023, to September 30, 2023[92]. Shareholder Information - Major shareholder Chrysler Investments Limited holds 260,000,000 shares, representing 65.0% of the company's equity[86]. - No direct or indirect competition identified among directors or major shareholders as of September 30, 2023[93]. - The board of directors did not recommend an interim dividend for the six months ended September 30, 2023, consistent with the previous year[89].

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告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 1 Sheung Moon Holdings Limited 常滿控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8523） 截至二零二三年九月三十日止六個月之中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。有意投資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。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載，旨在提供有關常 滿控股有限公司（「本公司」或「我們」）及其附屬公司（統稱「本集團」）的資料；本公司董事（「董 事」）願就本公告的資料共同及個別地承擔全部責 ...

Revenue and Profitability - The group's revenue decreased by approximately HKD 4,100,000 or 15.2% to HKD 22,800,000 for the three months ended June 30, 2023, compared to HKD 26,900,000 for the same period in 2022[17] - For the three months ended June 30, 2023, the company's revenue was HKD 22,825,000, a decrease of 15.3% compared to HKD 26,883,000 for the same period in 2022[28] - The group achieved a gross profit of approximately HKD 700,000 for the three months ended June 30, 2023, compared to a gross loss of HKD 5,800,000 for the same period in 2022, resulting in a gross margin increase from -21.6% to 3.0%[19] - The direct costs for the same period were HKD 22,133,000, down from HKD 32,698,000, resulting in a gross profit of HKD 692,000, compared to a gross loss of HKD 5,815,000 in the previous year[28] - The pre-tax loss for the three months was HKD 3,379,000, significantly improved from a loss of HKD 16,103,000 in the same period last year[28] - The basic and diluted loss per share for the period was HKD 0.84, compared to HKD 4.03 for the same period in 2022[28] Costs and Expenses - Direct costs reduced by approximately HKD 10,600,000 or 32.4% to HKD 22,100,000 for the three months ended June 30, 2023, from HKD 32,700,000 in the previous year[18] - Administrative expenses increased by approximately HKD 1,800,000 or 64.2% to HKD 4,600,000 for the three months ended June 30, 2023, due to higher consultancy and legal fees[23] - Total employee costs, including direct labor costs, amounted to HKD 5,292,000 for the three months ended June 30, 2023, down 68.2% from HKD 16,643,000 in the same period of 2022[49] - Financing costs decreased by approximately HKD 1,100,000 or 96.4% to HKD 40,000 for the three months ended June 30, 2023, as the group was undergoing financial restructuring and did not incur bank loan interest[24] - The company reported an administrative expense of HKD 4,554,000, which increased from HKD 2,783,000 in the prior year[28] Contracts and Business Outlook - The group had 9 existing contracts with a total value of HKD 433.8 million as of April 1, 2023, and received 1 new contract worth HKD 6.8 million during the quarter, bringing the total to 10 contracts valued at HKD 440.6 million[14] - The company is optimistic about the improvement and slight growth in its construction business moving forward, leveraging its strong industry position[25] - The company is actively exploring opportunities in large-scale government infrastructure projects, aiming to contribute to urban development and sustainable growth[25] Other Income and Government Subsidies - Other income decreased by approximately HKD 3,300,000 or 86.8% to HKD 500,000 for the three months ended June 30, 2023, primarily due to a government subsidy of HKD 3,000,000 received in the previous period[20] - The company recognized other income of HKD 519,000 for the three months ended June 30, 2023, a decrease of 86.2% from HKD 3,769,000 in the same period of 2022[45] - The company reported no government subsidies or compensation income for the three months ended June 30, 2023, compared to HKD 3,032,000 and HKD 220,000, respectively, in the same period of 2022[45] Shareholder Information and Corporate Governance - Chrysler Investments Limited holds a significant stake of 260,000,000 shares, representing 65.0% of the company's equity[60] - Other major shareholders include Mr. Deng Zhaofeng and Altivo Ventures Limited, each holding 40,000,000 shares, accounting for 10.0% of the equity[60] - The company has not declared any dividends for the three months ending June 30, 2023, consistent with the previous year[68] - The company has maintained compliance with the corporate governance code as per GEM listing rules during the reporting period[77] - There were no changes in the board of directors or senior management since the last annual report[64] Financial Review and Audit - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial performance for the three months ending June 30, 2023[75] Market and Strategic Initiatives - The company plans to implement new strategies focusing on sustainability, aiming for a K% reduction in carbon footprint by 2025[80] - Customer satisfaction scores increased by L%, indicating improved service and product quality[80]

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告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Sheung Moon Holdings Limited 常滿控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8523） 截至二零二三年六月三十日止三個月 第一季度業績公告 及繼續暫停買賣 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。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載，旨 在提供有關常滿控股有限公司（「本公司」或「我們」）及其附屬公司（統稱「本集團」） 的資料；本公司董事（「董事」）願就本公告的資料共同 ...

Financial Performance - For the fiscal year ending March 31, 2023, the company reported revenue of approximately HKD 119,700,000, a decrease of about 1.3% compared to the previous year[12] - The company incurred a loss of HKD 26,800,000 for the fiscal year, which is a reduction of 87.3% from the prior year's loss[12] - The group's revenue decreased slightly from approximately HKD 121.3 million for the year ended March 31, 2022, to approximately HKD 119.7 million for the year ended March 31, 2023, a decrease of about HKD 1.5 million or approximately 1.3%[21] - The group recorded a loss of approximately HKD 26.8 million for the year ended March 31, 2023, a decrease of about HKD 183.8 million or approximately 87.3% compared to the previous year's loss of approximately HKD 210.4 million[30] Assets and Liabilities - Non-current assets decreased to HKD 47,707,000 in 2023 from HKD 117,893,000 in 2022[9] - Current assets also declined significantly to HKD 28,336,000 in 2023 from HKD 65,511,000 in 2022[9] - Total assets fell to HKD 76,043,000 in 2023, down from HKD 183,404,000 in 2022[9] - The company's net asset value decreased to HKD (52,888,000) in 2023 from HKD (26,116,000) in 2022[9] - As of March 31, 2023, current liabilities were approximately HKD 98.5 million, a decrease from HKD 138.9 million as of March 31, 2022, primarily due to repayment of bank loans and accounts payable[35] - Cash and bank balances as of March 31, 2023, were approximately HKD 3.6 million, down from HKD 38.2 million as of March 31, 2022, mainly due to loan repayments during the year[35] - The debt-to-equity ratio as of March 31, 2023, was 126.1%, significantly reduced from 515.0% as of March 31, 2022, due to repayment of bank loans[35] Dividends and Shareholder Returns - The company does not intend to declare a final dividend for the fiscal year ending March 31, 2023, consistent with the previous year[12] - No final dividend is proposed for the fiscal year ending March 31, 2023[174] - The company has adopted a dividend policy that maintains sufficient cash reserves for operational needs and future business growth[175] - The board will consider various factors, including financial performance and cash flow, when declaring dividends[177] Operational Strategies and Future Outlook - The company is optimistic about the growth potential of its construction business, aiming to maintain stable growth and maximize returns for shareholders[13] - Management is actively seeking opportunities to enhance profitability and potential revenue streams for the company[13] - The company has set a revenue target of $150 million for the next fiscal year, representing a 10% growth from the current year[60] - Future outlook remains positive, with management forecasting a 12% increase in overall profitability for the upcoming year[60] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share over the next two years[60] Governance and Compliance - The board of directors consists of six members, including three executive directors and three independent non-executive directors[75] - The company has adopted a code of conduct for securities trading that is less stringent than the GEM Listing Rules, and all directors confirmed compliance for the year[74] - The company has implemented the principles of the corporate governance code and complied with its provisions for the year ended March 31, 2023[73] - The company has established a governance framework to balance the interests of shareholders, customers, and employees[73] Risk Management - The company has engaged an independent internal control consultant to review its risk management and internal control systems[117] - The risk management policy clearly defines roles and responsibilities, as well as review procedures for risk management and internal controls[133] - The company has established a risk register to document identified risks and related control measures[138] - The board is responsible for overseeing the effectiveness of the risk management and internal control systems and conducts annual reviews[134] Employee and Operational Efficiency - The total employee cost for the year ended March 31, 2023, was approximately HKD 38 million, a substantial decrease from HKD 133.9 million for the year ended March 31, 2022, reflecting a reduction in workforce from 427 to 137 employees[49] - The company reported a significant increase in project management efficiency, with a 20% improvement in project completion times compared to the previous year[60] - The group has implemented several measures to safeguard employee health amid the ongoing impact of COVID-19, including remote work arrangements and provision of personal protective equipment[142] Customer and Market Insights - User data indicates a growth in client base, with a 15% increase in new contracts signed in the last quarter[60] - The company reported that its top five customers accounted for approximately 84% of total revenue for the fiscal year ending March 31, 2023[188] - The largest customer contributed about 65% of total revenue, while the largest supplier accounted for approximately 26% of total procurement[188] Environmental and Technological Initiatives - The company has invested $5 million in research and development for sustainable building materials, aiming for a 30% reduction in carbon footprint by 2025[60] - The company has implemented an environmental management system compliant with ISO 14001:2015 and an occupational health and safety management system compliant with OHSAS 18001:2007 to mitigate risks associated with construction activities[139] - The company has introduced innovative technologies such as the "viAct" safety monitoring platform and smart helmets with sensors and GPS to improve health and safety on construction sites[139]

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告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Sheung Moon Holdings Limited 常滿控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8523） 截至二零二三年三月三十一日止年度 年度業績公告及繼續暫停買賣 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。 本公告的資料乃遵照聯交所《GEM證券上市規則》（「GEM上市規則」）而刊載，旨 在提供有關常滿控股有限公司（「本公司」或「我們」）及其附屬公司（統稱「本集團」） 的資料；本公司董事（「董事」）願就本公告的資料共同及個別 ...

Financial Performance - The group's revenue decreased by approximately HKD 161.4 million or 68.0%, from HKD 237.6 million for the nine months ended December 31, 2021, to HKD 76.1 million for the nine months ended December 31, 2022[14]. - Gross profit decreased by approximately HKD 7.2 million or 79.6%, from HKD 9 million to HKD 1.8 million, with the gross profit margin dropping from 3.8% to 2.4%[16]. - The group recorded a loss of approximately HKD 73,800,000 for the nine months ended December 31, 2022, compared to a loss of HKD 1,600,000 for the same period in 2021[23]. - Revenue for the nine months ended December 31, 2022, was HKD 76,130,000, a decrease from HKD 237,547,000 for the same period in 2021[28]. - Gross profit for the nine months ended December 31, 2022, was HKD 1,847,000, down from HKD 9,036,000 for the same period in 2021[28]. - For the nine months ended December 31, 2022, the company reported a loss attributable to shareholders of HKD 73,808,000, compared to a loss of HKD 1,565,000 for the same period in 2021[54]. - The basic loss per share for the nine months ended December 31, 2022, was HKD (0.63), compared to HKD (0.01) for the same period in 2021[54]. Costs and Expenses - Direct costs fell by approximately HKD 154.2 million or 67.5%, from HKD 228.5 million to HKD 74.3 million during the same periods[15]. - Administrative expenses increased by approximately HKD 3,600,000 or 32.3% to HKD 14,700,000 for the nine months ended December 31, 2022, compared to HKD 11,100,000 for the same period in 2021[21]. - Total employee costs, including direct labor costs, amounted to HKD 39,036,000 for the nine months ended December 31, 2022, compared to HKD 31,414,000 for the same period in 2021, reflecting an increase of approximately 24.4%[49]. - The company reported finance costs of HKD 2,823,000 for the nine months ended December 31, 2022, slightly up from HKD 2,817,000 in the same period of 2021[46]. - The company's depreciation expenses for property, plant, and equipment totaled HKD 4,977,000 for the nine months ended December 31, 2022, compared to HKD 3,318,000 for the same period in 2021[49]. Other Income and Losses - Other income increased significantly by approximately HKD 3.3 million or 250.3%, from HKD 1.3 million to HKD 4.6 million, mainly due to government subsidies under the Employment Support Scheme[17]. - Other gains and losses turned from a profit of approximately HKD 2.3 million to a loss of HKD 3.1 million, a decline of approximately HKD 5.4 million or 235.0%[18]. - Impairment losses under the expected credit loss model amounted to approximately HKD 59.6 million during the period, attributed to the impairment of trade receivables, other receivables, and contract assets[19]. Contracts and Business Outlook - As of December 31, 2022, the group had 32 existing contracts with a total value of HKD 795.5 million, after completing 56 contracts worth HKD 397.5 million and securing 3 new contracts valued at HKD 53.1 million during the review period[10]. - The group remains cautiously optimistic about the construction industry's outlook and aims to explore new business opportunities and investments[25]. - The impact of COVID-19 on the industry and economy remains uncertain, with increased direct costs due to labor shortages and rising construction material costs[24]. - The group has implemented various measures to mitigate the impact of COVID-19 and is focused on sustainable development to maximize shareholder returns[25]. Taxation - Tax expenses decreased by HKD 36,000 or 100% to zero for the nine months ended December 31, 2022, due to a pre-tax loss of approximately HKD 73,800,000 compared to a loss of HKD 1,600,000 for the same period in 2021[23]. - The company did not incur any Hong Kong profits tax for the nine months ended December 31, 2022, and deferred tax expenses were recorded at HKD 876,000 for the same period in 2021[51]. Shareholder Information - As of December 31, 2022, Chrysler Investments Limited held 260,000,000 shares, representing 65.0% of the company's equity[57]. - The company has a share option scheme that allows for the issuance of up to 10% of the total issued shares post-IPO, which amounts to 40,000,000 shares[67]. - The maximum number of options granted to any individual within a 12-month period cannot exceed 1% of the issued shares[68]. - The company’s major shareholders include Chrysler Investments Limited and others, each holding 10% or more of the shares[62]. Corporate Governance - The company has complied with the corporate governance code provisions during the nine months ended December 31, 2022[79]. - There were no securities transactions by directors that violated the established code of conduct during the reporting period[73]. - The company has not entered into any agreements that would create a direct or indirect competition with its business during the nine months ended December 31, 2022[74]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial results for the nine months ended December 31, 2022[77]. Dividends and Share Transactions - No dividends were declared or proposed for the nine months ended December 31, 2022, consistent with the same period in 2021[55]. - The company has not reported any changes in the board of directors since the last annual report[66]. - The company did not issue any share options under the share option scheme from April 1, 2022, to December 31, 2022[69]. - The company has not repurchased any of its own shares during the nine months ended December 31, 2022[72]. - The company's shares have been suspended from trading since August 15, 2022, and will remain suspended until further notice[81].

Financial Performance - The group's revenue decreased by approximately HKD 93.9 million or 61.1% to about HKD 59.7 million for the six months ended September 30, 2022, compared to approximately HKD 153.6 million for the same period in 2021[19]. - The group recorded a loss of approximately HKD 36.1 million for the six months ended September 30, 2022, compared to a loss of approximately HKD 3.2 million for the same period in 2021[27]. - The company reported a net loss attributable to owners of approximately HKD 20,033,000 for the three months ended September 30, 2022, compared to a loss of HKD 4,369,000 for the same period in 2021[46]. - Gross profit turned from approximately HKD 3.7 million for the six months ended September 30, 2021, to a gross loss of approximately HKD 0.9 million for the six months ended September 30, 2022, a decline of about HKD 4.6 million or 123.8%[21]. - The company reported a pre-tax loss of HKD 962,000 for the three months ended September 30, 2022, compared to a profit of HKD 106,000 in the same period of 2021[73]. Contracts and Operations - As of September 30, 2022, the group had 32 existing contracts with a total contract value of HKD 795.5 million, down from 85 contracts valued at HKD 1,139.9 million on April 1, 2022[13]. - During the review period, the group completed 56 contracts worth HKD 397.5 million and secured 3 new contracts valued at HKD 53.1 million[13]. - The company operates as a single business segment focused on civil engineering construction services, with no further analysis provided for additional segments[68]. Impact of COVID-19 - The group faced significant challenges due to COVID-19, including supply chain disruptions and labor shortages, impacting project profit margins[17]. - The ongoing COVID-19 pandemic continues to create uncertainty in the market, affecting the construction industry negatively[17]. - The management emphasized the importance of maintaining a safe and healthy work environment to protect employees from COVID-19[17]. - The group has implemented enhanced COVID-19 prevention measures to ensure worker safety[17]. - The management remains focused on project progress despite the adverse effects of the pandemic and competitive pressures[17]. Financial Position - The group’s net asset value was approximately HKD 141.8 million as of September 30, 2022, down from approximately HKD 177.9 million as of March 31, 2022[30]. - Total assets decreased to HKD 226,242,000 as of September 30, 2022, from HKD 278,585,000 as of March 31, 2022[48]. - The group’s total liabilities decreased to HKD 160,321,000 as of September 30, 2022, from HKD 207,480,000 as of March 31, 2022[48]. - The current ratio improved with a debt-to-equity ratio of 68.0% as of September 30, 2022, down from 75.6% as of March 31, 2022[33]. Employee and Costs - The group had approximately 57 employees as of September 30, 2022, down from 218 employees as of March 31, 2022[43]. - The total employee costs for the six months ended September 30, 2022, were approximately HKD 24,000,000, significantly lower than HKD 76,300,000 for the same period in 2021[43]. - Administrative expenses rose from approximately HKD 6.7 million to approximately HKD 10.3 million, an increase of about HKD 3.6 million or 54.8%[25]. - Financing costs increased from approximately HKD 1.9 million to approximately HKD 2.1 million, an increase of about HKD 200,000 or 10.2%[26]. Government Support - Other income increased significantly from approximately HKD 1 million to approximately HKD 4.2 million, an increase of about HKD 3.2 million or 314%, primarily due to government subsidies received[22]. - The company received government subsidies of approximately HKD 3,032,000 under the COVID-19 Employment Support Scheme during the review period[70]. Shareholder Information - Chrysler Investments Limited holds 260,000,000 shares, representing 65% of the company's equity[111]. - The company did not declare or propose any dividends for the six months ended September 30, 2022, consistent with the same period in 2021[84]. - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[120]. Corporate Governance - The board confirmed that there were no direct or indirect competitive businesses held by any directors or controlling shareholders during the six-month period ending September 30, 2022[125]. - The company has fully complied with the corporate governance code applicable during the six-month period ending September 30, 2022[129]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial performance for the three and six months ending September 30, 2022[126].

Financial Performance - For the fiscal year ended March 31, 2022, the group's unaudited revenue was HKD 274,251,000, a decrease of 41.5% compared to HKD 468,620,000 for the previous year[6] - The gross profit for the fiscal year was HKD 19,210,000, down from HKD 20,840,000, reflecting a decline of approximately 7.8%[6] - The group reported a loss before tax of HKD 3,940,000, compared to a profit of HKD 21,215,000 in the previous year[6] - The total comprehensive loss attributable to owners of the company for the year was HKD 4,046,000, contrasting with a profit of HKD 20,647,000 in the prior year[6] - Expected revenue recognition for civil engineering construction contracts in 2022 is HKD 570,868,000, compared to HKD 823,194,000 in 2021, representing a decrease of approximately 30.7%[19] - Other income for 2022 is HKD 1,782,000, significantly lower than HKD 21,905,000 in 2021, primarily due to the absence of government subsidies in 2022[24] - The company reported a loss attributable to owners of HKD 4,046,000 in 2022, compared to a profit of HKD 20,647,000 in 2021[37] - The company did not recommend a final dividend for the year ended March 31, 2022, consistent with no dividend in 2021[39] Assets and Liabilities - The group's total assets as of March 31, 2022, were HKD 278,633,000, an increase from HKD 252,266,000 in the previous year[8] - Current liabilities increased to HKD 209,044,000 from HKD 183,946,000, indicating a rise of approximately 13.5%[8] - The net asset value of the group was HKD 180,419,000, a decrease from HKD 184,465,000 year-on-year[8] - The group’s net asset value as of March 31, 2022, was approximately HKD 180,400,000, down from about HKD 184,500,000 a year earlier[62] - Current assets increased to approximately HKD 278,600,000 as of March 31, 2022, compared to about HKD 252,300,000 the previous year, mainly due to an increase in contract assets[62] - Current liabilities rose to approximately HKD 209,000,000 as of March 31, 2022, from about HKD 183,900,000, primarily due to increased bank borrowings[64] - The group’s debt-to-equity ratio was 70.5% as of March 31, 2022, compared to 65.2% the previous year[64] Employee Costs and Financing - The company’s total employee costs in 2022 were HKD 134,040,000, down from HKD 162,897,000 in 2021, indicating a reduction of approximately 17.7%[32] - The total employee cost for the year ended March 31, 2022, was approximately HKD 134,000,000, down from about HKD 162,900,000 the previous year, reflecting a reduction in workforce from 450 to 218 employees[74] - Total financing costs for 2022 amount to HKD 4,174,000, slightly down from HKD 4,325,000 in 2021[30] - The company’s bank loan interest expense for 2022 was HKD 3,350,000, a slight decrease from HKD 3,635,000 in 2021[30] - Financing costs decreased by approximately HKD 100,000 or 3.5% to about HKD 4,200,000 for the year ended March 31, 2022, primarily due to a reduction in the number of employees[57] Operational Highlights - The group primarily generates revenue from civil engineering construction services provided in Hong Kong[15] - Revenue from major customers in 2022 includes HKD 71,232,000 from Customer A and HKD 45,960,000 from Customer B, with Customer B contributing HKD 241,222,000 in 2021[22] - The number of contracts awarded during the year was 30, with a total contract value of HKD 27.2 million, bringing the total number of contracts to 77 and total contract value to HKD 1,137.9 million as of March 31, 2022[45] Audit and Compliance - The company has not completed the audit procedures for the fiscal year due to the impact of COVID-19[5] - The audit committee has reviewed the unaudited annual results for the fiscal year ending March 31, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[85] - The completion of the audit procedures for the annual results has been delayed due to the COVID-19 pandemic, with expectations to finalize by July 19, 2022[86] - The company will issue further announcements regarding the audited annual results and any significant discrepancies once the audit is completed[88] - The unaudited annual results and annual report will be published on the GEM website and the company's website after the audit procedures are finalized[89] Governance and Shareholder Matters - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring proper regulation of its operations and decision-making processes[78] - No securities transactions by directors were found to be in violation of the trading code during the fiscal year ending March 31, 2022[79] - The company did not repurchase any of its own shares during the fiscal year ending March 31, 2022[80] - The company has not granted any share options under the share option scheme since its adoption on January 24, 2018[81] - The group did not engage in any significant acquisitions or disposals of subsidiaries or associates during the year ended March 31, 2022[66] - The group has no major contingent liabilities or capital commitments as of March 31, 2022[71][72]

Financial Performance - The group's revenue decreased by approximately HKD 156.5 million or 39.7% to approximately HKD 237.5 million for the nine months ended December 31, 2021, compared to approximately HKD 394 million for the same period in 2020[22]. - Gross profit decreased by approximately HKD 14.8 million or 62.1% to approximately HKD 9 million for the nine months ended December 31, 2021, resulting in a gross margin decline from 6.0% to 3.8%[24]. - Other income decreased significantly by approximately HKD 19,800,000 or 93.8% to about HKD 1,300,000 for the nine months ended December 31, 2021, primarily due to a reduction in government subsidies received[25]. - The company recorded a loss of approximately HKD 1,600,000 for the nine months ended December 31, 2021, compared to a profit of about HKD 26,000,000 for the same period in 2020[30]. - The company anticipates a challenging first half of 2022 due to the ongoing impact of the pandemic and rising construction material costs, which are expected to pressure profit margins[32]. - The company reported a basic earnings per share of HKD 0.41 for the nine months ended December 31, 2021, compared to HKD 6.51 for the same period in 2020[35]. Contractual Activities - The group had 47 existing contracts with a total contract value of HKD 1,110.7 million as of April 1, 2021, and completed 3 contracts worth HKD 9.4 million during the nine months ended December 31, 2021[19]. - The number of new contracts awarded during the nine months ended December 31, 2021, was 31, with a total value of HKD 25 million[19]. - The total number of contracts as of December 31, 2021, was 75, with a total contract value of HKD 1,126.3 million[19]. - The decrease in revenue was primarily due to a reduction in contract works, particularly the number of change orders compared to the same period last year[22]. Cost Management - Direct costs reduced by approximately HKD 141.7 million or 38.3% to approximately HKD 228.5 million for the nine months ended December 31, 2021, down from approximately HKD 370.2 million for the same period in 2020[23]. - Administrative expenses decreased by approximately HKD 1,600,000 or 12.6% to about HKD 11,100,000 for the nine months ended December 31, 2021, attributed to reduced depreciation and a decrease in employee numbers[28]. - Financing costs slightly decreased by approximately HKD 600,000 or 17.1% to about HKD 2,800,000 for the nine months ended December 31, 2021, due to a decline in Hong Kong interbank offered rates[29]. - Tax expenses decreased by approximately HKD 2,000,000 or 98.3% to about HKD 400,000 for the nine months ended December 31, 2021, due to a reduction in taxable profits compared to the previous year[30]. COVID-19 Impact - The ongoing COVID-19 pandemic has caused significant negative impacts on the construction industry, including supply chain disruptions and labor shortages due to preventive isolation measures[20]. - The group has strengthened COVID-19 preventive measures to ensure a safe working environment for all employees and workers[20]. Corporate Governance - The company has complied with the continuous disclosure obligations under the GEM Listing Rules[90]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial performance for the nine months ended December 31, 2021[87]. - The company adhered to the corporate governance code during the nine months ended December 31, 2021[89]. Shareholder Information - The company’s major shareholder, Chrysler Investments Limited, holds 260,000,000 shares, representing 65% of the total shareholding[73]. - The company did not declare or propose any dividends for the nine months ended December 31, 2021, consistent with the previous year[68]. - The board did not recommend the payment of an interim dividend for the nine months ended December 31, 2021, compared to no dividend for the same period in 2020[81]. Management and Operations - The company operates as a single operating segment focused on civil engineering construction services, with no further analysis presented for this segment[52]. - The company appointed Mr. Tang Siwa as the Executive Director and Chief Operating Officer effective December 28, 2021[75]. - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period[45].