Financial Performance - For the nine months ended December 31, 2022, the company reported total revenue of HKD 75,013,000, a 42.0% increase from HKD 52,890,000 in the same period of 2021[8] - The gross profit for the same period was HKD 23,485,000, representing a 56.8% increase compared to HKD 14,967,000 in 2021[8] - The company recorded a net profit of HKD 541,000 for the nine months ended December 31, 2022, compared to a net loss of HKD 2,248,000 in the previous year[8] - The earnings per share for the nine months was HKD 0.05, a recovery from a loss of HKD 0.21 per share in the same period of 2021[8] - The total comprehensive income for the period was HKD 715,000, compared to a total comprehensive loss of HKD 2,309,000 in the previous year[12] - The company reported a pre-tax profit of HKD 15,104,000 for the three months ended December 31, 2022, compared to HKD 11,008,000 for the same period in 2021, reflecting a 37.5% increase[31] - The company's revenue increased by approximately 41.8% from about HKD 52.9 million to approximately HKD 75.0 million for the nine months ended December 31, 2022, compared to the same period in 2021[52] - Gross profit rose from approximately HKD 15.0 million to about HKD 23.5 million, with the overall gross margin increasing from approximately 28.3% to about 31.3%[57] Income and Costs - The company experienced a significant increase in other income, totaling HKD 2,676,000 for the nine months, up from HKD 923,000 in 2021[8] - The company’s service costs increased to HKD 51,528,000 for the nine months, compared to HKD 37,923,000 in the same period of 2021[8] - The total employee costs for the nine months ended December 31, 2022, amounted to HKD 46,542,000, an increase of 20.1% compared to HKD 38,803,000 for the same period in 2021[31] - Other income increased approximately threefold from HKD 0.9 million to HKD 2.7 million, primarily due to government subsidies under the employment support scheme[58] - Service costs rose by about 35.9% from approximately HKD 37.9 million to about HKD 51.5 million, mainly due to increased subcontracting fees and employee costs related to consulting services[56] - General and administrative expenses increased by approximately 20.6% from HKD 13.7 million to HKD 16.5 million, driven by higher employee costs and operational scale expansion[63] Future Outlook - The company plans to continue expanding its market presence and developing new products to drive future growth[8] - The company aims to expand its market share by seeking more engineering consulting service contracts despite a challenging business environment[53] - The company plans to acquire or invest in companies within the construction and property development industry, with HKD 4.6 million allocated for this purpose[75] Financial Position - The company reported a financing cost of HKD 199,000 for the nine months, slightly up from HKD 182,000 in 2021[8] - The company’s financing costs for the nine months ended December 31, 2022, totaled HKD 199,000, slightly up from HKD 182,000 for the same period in 2021[37] - The group has no borrowings as of December 31, 2022, indicating a strong financial position with sufficient liquidity to meet funding needs[66] - The current ratio slightly decreased from approximately 3.4 times as of March 31, 2022, to about 3.3 times as of December 31, 2022[62] Shareholder Information - The weighted average number of ordinary shares issued remained constant at 1,152,000 shares for both periods under review[48] - As of December 31, 2022, the company had 1,152,000,000 shares issued, with major shareholders holding significant stakes[90] - Dr. Chan and Mr. Kwong collectively control approximately 29.69% of the company's shares through their investment holding company, Wan Nian Property Development Limited[84] - Wan Nian Property Development Limited is owned approximately 68.2% by Dr. Chan and 31.8% by Mr. Kwong[84] Governance and Compliance - The company continues to comply with the corporate governance code as per GEM listing rules, with ongoing reviews to enhance governance standards[99] - The company has established a robust internal control system, negating the need for insurance for directors' liabilities at this time[101] - The company has maintained strict compliance with securities trading regulations without any violations reported during the nine months ended December 31, 2022[101] - There were no conflicts of interest reported among directors or major shareholders as of December 31, 2022[98] Miscellaneous - The company did not recommend any dividend payment for the nine months ended December 31, 2022, consistent with the previous year[47] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2022[101] - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2022[103] - The company has adopted a share option scheme since August 27, 2018, but no options were granted during the nine months ended December 31, 2022[101] - The board of directors has not faced any legal actions that would require insurance coverage as the company’s operations are stable[99] - The group recorded a profit of approximately HKD 0.5 million for the nine months ended December 31, 2022, compared to a loss of approximately HKD 2.2 million for the same period in 2021, attributed to increased revenue and gross margin, as well as government subsidies from the Employment Support Scheme[64] - The group's tax expenses increased from approximately HKD 0.2 million for the nine months ended December 31, 2021, to approximately HKD 1.8 million for the same period in 2022, an increase of 800%[64]

Financial Performance - For the six months ended September 30, 2022, the company reported total revenue of HKD 25,058,000, an increase of 27.5% compared to HKD 19,644,000 for the same period in 2021[9]. - Gross profit for the same period was HKD 10,878,000, representing an increase of 84.5% from HKD 5,891,000 in the prior year[9]. - The company achieved a net profit of HKD 2,198,000 for the six months ended September 30, 2022, compared to a net loss of HKD 1,171,000 in the same period of 2021[9]. - Basic and diluted earnings per share for the period were HKD 0.19, compared to a loss per share of HKD 0.11 in the previous year[9]. - Total revenue for the six months ended September 30, 2022, was HKD 45,472,000, up from HKD 36,502,000 in the same period of 2021, indicating a growth of about 24.5%[29]. - The company recorded a total comprehensive income of HKD 2,516,000 for the six months ended September 30, 2022, compared to a comprehensive income of HKD 2,268,000 for the same period in 2021, reflecting an increase of approximately 10.9%[29]. - The company reported a profit attributable to owners of HKD 2,198,000, compared to a loss of HKD 953,000 for the same period in 2021[44]. - The company recorded a profit of approximately HKD 2.3 million for the six months ended September 30, 2022, compared to a loss of approximately HKD 1.0 million for the same period in 2021[74]. Assets and Liabilities - Total assets as of September 30, 2022, were HKD 101,799,000, an increase from HKD 95,591,000 as of March 31, 2022[11]. - The company's net asset value increased to HKD 92,469,000 as of September 30, 2022, compared to HKD 89,953,000 as of March 31, 2022[11]. - The company recorded a total of HKD 37,688,000 in trade receivables as of September 30, 2022, up from HKD 34,900,000 as of March 31, 2022[48]. - The company’s total equity as of September 30, 2022, was HKD 92,469,000, compared to HKD 89,953,000 as of April 1, 2022, showing an increase of about 2.8%[18]. - The company’s trade payables increased to HKD 9,904,000 as of September 30, 2022, from HKD 8,260,000 as of March 31, 2022[52]. - The current ratio slightly decreased from approximately 3.4 times on March 31, 2022, to about 3.3 times on September 30, 2022, primarily due to an increase in contract liabilities and income tax payable[75]. - As of September 30, 2022, the company had no borrowings, indicating a capital debt ratio calculation was not applicable[75]. Cash Flow and Investments - The company reported a net cash inflow from operating activities of HKD 6,462,000 for the six months ended September 30, 2022, compared to HKD 5,592,000 for the same period in 2021, representing an increase of approximately 15.5%[18]. - The company’s investment activities resulted in a net cash outflow of HKD 1,494,000 for the six months ended September 30, 2022, compared to HKD 191,000 in the same period of 2021[18]. - The company’s financing activities resulted in a net cash outflow of HKD 1,155,000 for the six months ended September 30, 2022, compared to HKD 1,492,000 in the same period of 2021[18]. - The cash and cash equivalents at the end of the period were HKD 41,649,000, a decrease from HKD 43,694,000 at the end of the same period in 2021[18]. Expenses - The company incurred general and administrative expenses of HKD 6,932,000, up from HKD 4,748,000 in the prior year[9]. - Total employee costs for the six months ended September 30, 2022, amounted to HKD 29,262,000, an increase of 12.4% from HKD 26,063,000 in the same period of 2021[5]. - Service costs increased from approximately HKD 25.5 million to approximately HKD 29.4 million, reflecting a rise of about 15.4% due to increased subcontracting costs and employee-related expenses[65]. - General and administrative expenses rose by approximately 28.8%, from about HKD 9.0 million to approximately HKD 11.6 million, driven by higher legal and professional fees and increased employee costs[70]. Corporate Governance and Shareholder Information - The board has complied with the corporate governance code as per GEM Listing Rules, with no significant deviations noted[116]. - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the previous year[43]. - No dividends were recommended by the board for the six months ending September 30, 2022[120]. - The company issued 192 million new shares to acquire a 23.4% stake in OPS Holdings Limited, with the shares priced at HKD 0.128 each on the issuance date[55]. - As of September 30, 2022, the company had a total of 1,152,000,000 shares issued, with WAC Holdings Limited holding 342,072,000 shares, representing approximately 29.69% of the total share capital[103][110]. - Dr. Chen and Mr. Kwong, through WAC Holdings Limited, own approximately 68.2% and 31.8% of the company respectively, indicating a significant control over the company[102]. Future Plans and Strategies - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[9]. - The company aims to expand its market share by securing more engineering consultancy contracts despite a challenging business environment[62]. - The company has focused on expanding its consulting services to existing clients and is seeking to diversify its service offerings[62]. Audit and Compliance - The Audit Committee was established on August 27, 2018, and is responsible for recommending the appointment, reappointment, and removal of external auditors to the Board[123]. - The Audit Committee currently consists of three members, all of whom are independent non-executive directors[123]. - The Audit Committee has reviewed and approved the unaudited condensed consolidated financial statements for the six months ended September 30, 2022[125].

WAC Holdings Limited ( 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ) 股份代號：8619 第一季度業績報告 2022 香港聯合交易所有限公司（「聯交所」）GEM的特色 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為較於其他在聯交所上市的公司帶有更高投資風險的中小型公司提供一 個上市的市場。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後 方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會承受較於聯交所主板買 賣的證券為高的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不就因本報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。 本報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 WAC Holdings Limited（「本公司」，連同其附屬公司，統稱「本集團」）的資料；本公司董事 （「董事」）願就本報告的資料共同及個別地承擔 ...

Financial Performance - For the fiscal year ending March 31, 2022, the company recorded revenue of approximately HKD 79.1 million, an increase of about 2.3% from approximately HKD 77.3 million in the previous fiscal year[20]. - Revenue increased from approximately HKD 77.3 million for the year ended March 31, 2021, to approximately HKD 79.1 million for the year ended March 31, 2022, representing a growth of about 2.3%[22]. - The company recorded a loss of approximately HKD 4.7 million for the year ended March 31, 2022, compared to a profit of approximately HKD 6.3 million for the previous year[34]. - Gross profit decreased from approximately HKD 28.2 million to approximately HKD 26.0 million, a decline of about 7.7%, leading to a gross profit margin drop from approximately 36.4% to 32.8%[25]. - Other income and gains decreased from approximately HKD 5.9 million to approximately HKD 1.7 million, a decline of about 72.1% due to the absence of government subsidies under the employment support scheme[26]. Cost Management - The company has implemented strict cost control measures to mitigate the adverse effects of the challenging macroeconomic environment[15]. - Service costs rose from approximately HKD 49.2 million to approximately HKD 53.1 million, an increase of about 8.1%, with employee costs accounting for approximately 89.1% of total service costs[24]. - General and administrative expenses decreased by approximately HKD 2.2 million or 9.5% to approximately HKD 21.4 million, mainly due to the absence of expenses related to an e-commerce platform business sold in 2021[30]. Business Strategy and Opportunities - The company plans to explore new business opportunities and hire professionals to enhance its operations and provide maximum returns to shareholders in the medium to long term[16]. - The company participated in bidding processes to secure new contracts from both public and private clients during the fiscal year[15]. - The Hong Kong government has launched several development plans, such as the "Northern Metropolis," which present new opportunities for the construction industry[15]. - The company is actively seeking new business opportunities through acquisitions or joint ventures to expand its market share[21]. - The company plans to continue focusing on providing diversified services to existing clients, particularly in the construction sector, driven by increased residential development and land supply in Hong Kong[21]. Employee and Workforce Management - The company employed 141 staff as of March 31, 2022, with total employee costs of approximately HKD 55.5 million for the year[56]. - The company hired 19 new junior and senior engineers to support its geotechnical engineering team, resulting in an employee cost of approximately HKD 8.6 million as of March 31, 2022[61]. - The company incurred an employee cost of about HKD 5.3 million for hiring 18 new junior and senior engineers for civil engineering projects as of March 31, 2022[63]. - The employee turnover rate for 2022 was approximately 33.96%, a decrease from 43.14% in 2021[158]. - The company has established a competitive compensation system, with employee benefits including paid sick leave, maternity leave, and group insurance plans[158]. Environmental, Social, and Governance (ESG) Initiatives - The group expanded its environmental, social, and governance (ESG) key performance indicators (KPIs) reporting scope to include the Shenzhen office, which was not covered in the previous year's report, representing approximately 98% of the group's revenue[113]. - The group is committed to integrating sustainability into its business strategy, recognizing the value it brings to operations[108]. - The board regularly discusses and reviews the group's ESG risks and opportunities, as well as the progress of ESG goals and indicators[110]. - The group emphasizes stakeholder engagement, maintaining close communication with shareholders, customers, employees, and regulatory bodies to enhance ESG performance[119]. - In 2022, the company achieved a 38.52% reduction in total greenhouse gas emissions density compared to 2021, attributed to effective measures implemented[132]. Market Expansion and Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[78]. - Market expansion plans include entering two new regions by Q3 2023, which are expected to contribute an additional 5% to overall revenue[80]. - The company has completed a strategic acquisition of a competitor, which is anticipated to increase market share by 10%[81]. - New product lines are expected to launch in Q2 2023, with an estimated contribution of $5 million to revenue in the first year[82]. - The company is actively pursuing market expansion in Southeast Asia, with plans to enter two new countries by the end of 2023[92]. Compliance and Risk Management - The group has implemented anti-corruption policies and reported no corruption lawsuits against the company or its employees in 2022[192]. - The group conducts annual money laundering risk assessments and performs due diligence on business counterparties[194]. - The company has not reported any significant violations of environmental laws and regulations as of 2022[129]. - The company has not reported any significant violations of employment-related laws and regulations in 2022[155].

Financial Performance - For the nine months ended December 31, 2021, the company reported total revenue of HKD 52,890,000, a decrease of 8.8% compared to HKD 57,455,000 for the same period in 2020[8]. - The gross profit for the same period was HKD 14,967,000, down 32.2% from HKD 22,082,000 in 2020[8]. - The company incurred a loss of HKD 2,248,000 for the nine months ended December 31, 2021, compared to a profit of HKD 6,740,000 in the previous year[8]. - The basic and diluted loss per share for the nine months was HKD 0.21, compared to earnings of HKD 0.70 in 2020[8]. - The company reported a net loss of HKD 1,329,000 for the third quarter, compared to a profit of HKD 1,736,000 in the same quarter of 2020[8]. - The total comprehensive loss attributable to owners of the company for the nine months was HKD 2,309,000, compared to a total comprehensive income of HKD 6,636,000 in 2020[8]. - The company reported a loss attributable to owners of the company of HKD 2,248 thousand for the nine months ended December 31, 2021, compared to a profit of HKD 6,740 thousand for the same period in 2020[39]. - The basic and diluted loss per share for the nine months ended December 31, 2021, was HKD (0.21), compared to HKD 0.70 for the same period in 2020[39]. Revenue and Expenses - Revenue from construction of new properties for the nine months ended December 31, 2021, was HKD 33,646,000, a decrease of 5.0% from HKD 35,406,000 in 2020[21]. - Total revenue for the nine months ended December 31, 2021, was HKD 52,890,000, down 8.0% from HKD 57,455,000 in the same period of 2020[21]. - Other income for the nine months was HKD 923,000, significantly lower than HKD 5,736,000 in the same period last year[8]. - Total employee costs amounted to HKD 40,228 thousand for the nine months ended December 31, 2021, compared to HKD 38,803 thousand for the same period in 2020, reflecting an increase of approximately 3.7%[30]. - Service costs increased from approximately HKD 35.4 million for the nine months ended December 31, 2020, to approximately HKD 37.9 million for the nine months ended December 31, 2021, representing an increase of about 7.2%[47]. - General and administrative expenses decreased from approximately HKD 18.3 million for the nine months ended December 31, 2020, to approximately HKD 13.7 million for the nine months ended December 31, 2021, a reduction of about 25.0%[52]. Equity and Financing - As of December 31, 2021, total equity reached HKD 92,363,000, an increase from HKD 70,540,000 at the end of 2020, reflecting a growth of approximately 30.9%[10]. - The issuance of shares related to the acquisition of an associate amounted to HKD 24,576,000, contributing to the increase in total equity[10]. - The company’s retained earnings increased to HKD 10,913,000 as of April 1, 2021, from HKD 8,665,000 at the end of 2020, indicating a growth of approximately 26.0%[10]. - The company had no borrowings as of December 31, 2021, indicating a strong financial position with sufficient liquidity to meet funding needs[57]. - The company’s interest expenses on bank loans for the nine months ended December 31, 2021, were HKD 5,000, compared to HKD 1,000 in the same period of 2020[29]. - The total financing costs for the nine months ended December 31, 2021, were HKD 182 thousand, compared to HKD 113 thousand for the same period in 2020, indicating an increase of approximately 61.9%[30]. Strategic Initiatives - The company continues to explore new strategies for market expansion and product development to improve future performance[8]. - The company aims to expand its engineering consulting services and is seeking to increase the variety of services offered to different clients in the future[44]. - The company continues to pursue more engineering consulting service contracts to expand its market share despite a challenging business environment[44]. - The company has delayed plans to lease additional office space due to the COVID-19 pandemic and social unrest in Hong Kong[67]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2021[98]. - The company has complied with the corporate governance code as per GEM Listing Rules, except for a deviation regarding insurance for directors' legal actions[93]. - The company will continue to review its corporate governance practices to meet increasing regulatory requirements and stakeholder expectations[94]. - No known conflicts of interest or competition with the company's business were reported among directors or major shareholders as of December 31, 2021[93]. Shareholder Information - The major shareholders, Dr. Chan and Mr. Kwong, own approximately 68.2% and 31.8% of WAC Holdings Limited, respectively, with WAC Holdings holding 363,072,000 shares, representing about 31.52% of the company's total issued share capital[86]. - As of December 31, 2021, the total number of issued shares was 1,152,000,000[85]. - No dividends were proposed for the nine months ended December 31, 2021, consistent with the previous year[96]. - The company did not grant any share options during the nine months ended December 31, 2021, and there were no unexercised options as of that date[96]. - The company has established a share option scheme since August 27, 2018, but no options were granted under this scheme during the reporting period[96].

Financial Performance - For the six months ended September 30, 2021, the company reported total revenue of HKD 36,502 thousand, a slight decrease of 0.4% compared to HKD 36,652 thousand for the same period in 2020[8]. - The gross profit for the same period was HKD 11,043 thousand, down 23.1% from HKD 14,396 thousand in the previous year[8]. - The company incurred a loss before tax of HKD 597 thousand, compared to a profit before tax of HKD 6,102 thousand for the same period in 2020[8]. - The net loss attributable to the company for the period was HKD 953 thousand, compared to a profit of HKD 4,994 thousand in the previous year[8]. - Basic and diluted loss per share for the period was HKD (0.09), compared to earnings per share of HKD 0.52 for the same period in 2020[8]. - The company experienced a significant increase in service costs, which rose to HKD 25,459 thousand, up 14.9% from HKD 22,256 thousand in the previous year[8]. - Other income decreased to HKD 698 thousand from HKD 3,162 thousand in the previous year, reflecting a decline of 78.0%[8]. - The company reported a net other losses of HKD 3,112 thousand, compared to HKD 1,416 thousand in the previous year, indicating a worsening of 120.0%[8]. - Administrative expenses were HKD 9,021 thousand, down 9.8% from HKD 9,995 thousand in the previous year[8]. - The company reported a total comprehensive income of HKD 4,900,000 for the period, compared to HKD 4,994,000 in the previous year, showing a slight decline of about 1.9%[12]. Revenue Breakdown - Revenue from new property construction was HKD 22,911,000 for the six months ended September 30, 2021, compared to HKD 22,748,000 in the same period of 2020, showing an increase of 0.7%[21]. - Revenue from renovation and maintenance of existing properties increased to HKD 6,680,000 for the six months ended September 30, 2021, from HKD 6,412,000 in the same period of 2020, reflecting a growth of 4.2%[21]. - For the six months ended September 30, 2021, the group's revenue slightly decreased by approximately 0.4% to about HKD 36.5 million from approximately HKD 36.7 million in the previous period[57]. Assets and Liabilities - As of September 30, 2021, total assets amounted to HKD 90,870,000, an increase from HKD 81,327,000 as of March 31, 2021, representing a growth of approximately 11.4%[10]. - The company's cash and cash equivalents increased to HKD 43,694,000 from HKD 39,784,000, reflecting a rise of about 12.5%[14]. - Current liabilities increased to HKD 25,168,000 from HKD 15,636,000, reflecting a rise of approximately 61.0%[10]. - The company's equity attributable to owners increased to HKD 93,692,000 from HKD 70,096,000, marking a significant increase of about 33.7%[12]. Employee and Operational Costs - The total employee costs for the six months ended September 30, 2021, amounted to HKD 26,063,000, up from HKD 24,750,000 in the same period of 2020, indicating an increase of 5.3%[27]. - The company employed a total of 135 employees as of September 30, 2021, down from 144 employees a year earlier, with total employee costs amounting to approximately HKD 26.1 million[83]. - The company hired 15 new engineering personnel and incurred employee costs of approximately HKD 7.2 million as of September 30, 2021[85]. - The company also hired 13 new engineering personnel for civil engineering projects, resulting in employee costs of approximately HKD 3.7 million as of September 30, 2021[87]. Share Capital and Dividends - The group issued 192,000,000 new ordinary shares on July 22, 2021, to acquire a 23.4% equity interest in an associate company[51]. - The group’s share capital as of September 30, 2021, was HKD 11,520 thousand, reflecting the issuance of new shares[51]. - The company did not recommend any interim dividend for the six months ended September 30, 2021, consistent with the previous year[40]. - No dividends were recommended by the board for the six months ended September 30, 2021[122]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[119]. - The Audit Committee was established on August 27, 2018, and consists of three independent non-executive directors[125]. - The Audit Committee is responsible for recommending the appointment, reappointment, and removal of external auditors to the Board[125]. - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021[125]. Strategic Focus and Future Plans - The company is committed to improving its financial performance and exploring new strategies for market expansion and product development[8]. - The group aims to expand its market share by seeking more engineering consultancy service contracts despite a challenging business environment[58]. - The company has not invested in any construction and property development companies as of September 30, 2021, but is actively seeking suitable investment opportunities[87]. - The company plans to fully utilize the remaining unutilized proceeds of HKD 13.3 million by March 31, 2022[95].

Financial Performance - For the three months ended June 30, 2021, the company reported revenue of HKD 16,858,000, an increase of 3.7% compared to HKD 16,251,000 for the same period in 2020[15]. - Gross profit for the same period was HKD 5,152,000, a decrease of 5.6% from HKD 5,462,000 year-over-year[15]. - The company achieved a profit before tax of HKD 435,000, compared to a profit of HKD 136,000 in the previous year, representing a significant increase[15]. - Net profit for the period was HKD 218,000, recovering from a loss of HKD 186,000 in the same quarter of 2020[15]. - Basic and diluted earnings per share for the quarter were HKD 0.02, compared to a loss per share of HKD 0.02 in the prior year[15]. - Total comprehensive income attributable to owners of the company was HKD 193,000, compared to a total comprehensive loss of HKD 200,000 in the previous year[15]. - The company reported other income of HKD 375,000, down from HKD 591,000 in the same period last year[15]. - The group reported revenue of HKD 16,858,000 for the three months ended June 30, 2021, an increase from HKD 16,251,000 in the same period of 2020, representing a growth of approximately 3.7%[29]. - The group recorded a pre-tax profit of HKD 217,000 for the three months ended June 30, 2021, compared to HKD 322,000 in the same period of 2020, indicating a decline of approximately 32.6%[41]. - The company reported a profit of approximately HKD 0.2 million for the three months ended June 30, 2021, compared to a loss of approximately HKD 0.2 million for the same period in 2020[60]. Revenue Breakdown - Revenue from new property construction was HKD 10,968,000, while revenue from renovation and maintenance of existing properties was HKD 3,034,000, showing a decrease of 11.8% compared to HKD 3,437,000 in the previous year[26]. - The company's revenue increased by approximately 3.7% from about HKD 16.3 million to approximately HKD 16.9 million for the three months ended June 30, 2021, primarily due to increased income from structural and geotechnical engineering consulting services[50]. Expenses and Costs - Gross profit decreased by approximately HKD 0.3 million, or 5.7%, from about HKD 5.5 million to approximately HKD 5.2 million for the same period, resulting in a gross profit margin decline from about 33.6% to approximately 30.6%[55]. - Service costs rose by approximately 8.5% from about HKD 10.8 million to approximately HKD 11.7 million, with employee costs accounting for about 89.0% of total service costs as of June 30, 2021[54]. - Total employee costs amounted to HKD 12,083,000, a slight decrease from HKD 12,368,000 in the same period last year, reflecting a reduction of about 2.3%[35]. - General and administrative expenses decreased by approximately 19.9% from about HKD 5.3 million to approximately HKD 4.3 million, mainly due to reduced legal and professional fees[57]. - The group’s financing costs included interest expenses on lease liabilities amounting to HKD 56,000, an increase from HKD 26,000 in the previous year[37]. - The group’s depreciation on property, plant, and equipment was HKD 77,000, down from HKD 104,000 in the same period last year, reflecting a decrease of approximately 26%[37]. Equity and Share Capital - As of June 30, 2021, total equity attributable to owners of the company was HKD 70,289,000, an increase from HKD 70,096,000 at the beginning of the period[19]. - As of June 30, 2021, the company had issued 1,152,000,000 ordinary shares with a nominal value of HKD 0.01 each, and the total authorized share capital was HKD 15,000,000[64]. - As of June 30, 2021, Dr. Chen and Mr. Kwong each hold 394,072,000 shares, representing approximately 41.05% of the total issued share capital of 960,000,000 shares[84][89]. - Dr. Chen and Mr. Kwong control Wan Nian Property Development Limited, which holds 394,072,000 shares in the company, with ownership proportions of approximately 68.2% and 31.8% respectively[88]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules, with no insurance arrangements for directors due to stable business conditions[99]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the three months ended June 30, 2021[104]. - The company has adopted a code of conduct for securities transactions by directors, with no violations reported during the three months ended June 30, 2021[100]. - The board of directors has not identified any business or interests that may compete with the company's operations as of June 30, 2021[96]. Investments and Acquisitions - The company completed the acquisition of 23.4% of OPS Holding Limited's issued share capital on July 22, 2021, aiming to diversify its business portfolio[51]. - The company completed the acquisition of 23.4% of OPS Holdings Limited for a consideration of HKD 18,252,000, paid through the issuance of 192,000,000 shares at an issue price of approximately HKD 0.095 per share[74]. - The company has not invested in any construction and property development companies as of June 30, 2021, but is actively seeking suitable investment opportunities[80]. Liquidity and Financial Position - The company has no borrowings as of June 30, 2021, indicating a stable financial position with sufficient liquidity to meet funding needs[62]. - The current ratio decreased from approximately 5.2 times as of March 31, 2021, to about 4.2 times as of June 30, 2021, primarily due to an increase in contract liabilities[62]. - The company maintains a prudent treasury policy, continuously assessing customer credit and financial conditions to mitigate credit risk[63]. - The company’s bank deposits used as collateral for general bank financing amounted to HKD 4.1 million as of June 30, 2021[71]. Other Information - The company has no significant contingent liabilities as of June 30, 2021[69]. - The company did not engage in any significant acquisitions or disposals of subsidiaries or associates during the three months ended June 30, 2021[68]. - The company has no major capital commitments beyond those disclosed in the prospectus and quarterly report[67]. - The company incurred approximately HKD 0.6 million for new computers and software for new employees as of June 30, 2021[78]. - No dividends were recommended for the three months ended June 30, 2021, consistent with the same period in 2020[101]. - No share options were granted under the share option scheme during the three months ended June 30, 2021, and there were no unexercised share options as of June 30, 2021[102]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the three months ended June 30, 2021[97].

Financial Performance - For the nine months ended December 31, 2020, the company reported total revenue of HKD 57,455,000, an increase of 23% compared to HKD 46,672,000 for the same period in 2019[13]. - The gross profit for the nine months was HKD 22,082,000, representing a 39% increase from HKD 15,863,000 in the previous year[13]. - The company achieved a profit before tax of HKD 7,335,000 for the nine months, compared to a loss of HKD 3,056,000 in the same period of 2019[13]. - The net profit attributable to owners for the nine months was HKD 6,740,000, a significant turnaround from a loss of HKD 3,251,000 in the prior year[13]. - The basic and diluted earnings per share for the nine months were HKD 0.70, compared to a loss per share of HKD 0.34 in the same period of 2019[13]. - The company reported other income of HKD 5,736,000 for the nine months, up from HKD 864,000 in the previous year[13]. - The total comprehensive income for the nine months was HKD 6,636,000, compared to a total comprehensive loss of HKD 3,207,000 in the prior year[13]. - The company recorded a foreign exchange loss of HKD 104,000 for the nine months, compared to a gain of HKD 44,000 in the previous year[13]. - The group reported total revenue of HKD 57,455,000 for the nine months ended December 31, 2020, an increase of 23% compared to HKD 46,672,000 for the same period in 2019[36]. - Revenue from new property construction was HKD 35,406,000 for the nine months ended December 31, 2020, up 29% from HKD 27,507,000 in the previous year[36]. - The group’s total employee costs amounted to HKD 40,228,000 for the nine months ended December 31, 2020, representing an increase of 14% from HKD 35,241,000 in the same period of 2019[44]. - The group’s revenue from renovation and maintenance of existing properties was HKD 10,365,000 for the nine months ended December 31, 2020, down 33% from HKD 15,437,000 in the previous year[36]. - The group’s revenue from other services, including expert witness services and e-commerce consulting, was HKD 11,684,000 for the nine months ended December 31, 2020, significantly up from HKD 3,728,000 in the same period of 2019[36]. - The company recorded a profit attributable to owners of HKD 6.74 million for the nine months ended December 31, 2020, compared to a loss of HKD 3.25 million in the same period of 2019[57]. - Basic and diluted earnings per share for the nine months ended December 31, 2020, were HKD 0.70, compared to a loss of HKD 0.34 per share in the same period of 2019[57]. - The company did not recommend the payment of dividends for the nine months ended December 31, 2020, consistent with the previous year[56]. Operational Highlights - The company plans to continue expanding its market presence and investing in new product development to drive future growth[13]. - The company continues to explore variable interest entity arrangements for a social-based e-commerce new retail online platform, aiming to provide quality product selections and professional health management solutions[64]. - The company is focused on expanding business opportunities with existing clients and is seeking to increase the variety of consulting services offered[62]. - The company anticipates a challenging business and operating environment in the future while continuing to pursue more engineering consulting service contracts to expand market share[62]. - The company has delayed plans to lease additional office space due to the COVID-19 pandemic and social unrest in Hong Kong[97]. - The company is investing $F million in R&D for new technologies aimed at enhancing user experience[136]. - Market expansion efforts are projected to increase market share by G% in the next fiscal year[136]. - The company is exploring potential acquisitions to strengthen its position in the market, with a budget of $H million allocated for this purpose[136]. - Strategic partnerships are being formed to enhance distribution channels, expected to boost sales by I%[136]. - The company has implemented cost-cutting measures that are projected to save $J million annually[136]. - Overall, the company remains optimistic about future growth, citing a strong pipeline of products and services[136]. Employee and Cost Management - General and administrative expenses increased to HKD 18,249,000 for the nine months, slightly up from HKD 18,182,000 in 2019[13]. - The group’s total employee costs amounted to HKD 40,228,000 for the nine months ended December 31, 2020, representing an increase of 14% from HKD 35,241,000 in the same period of 2019[44]. - Employee costs for the nine months ended December 31, 2020, were approximately HKD 40.2 million, up from approximately HKD 35.2 million in the previous year[92]. - The company hired 14 new junior and senior engineers in the geotechnical engineering team, resulting in employee costs of approximately HKD 6.3 million as of December 31, 2020[95]. - The company expanded its civil engineering team by hiring 6 new junior and senior engineers, leading to employee costs of about HKD 1.8 million as of December 31, 2020[95]. Financial Position and Risks - The total financing costs increased from HKD 40 million to HKD 68 million, reflecting a significant rise in interest expenses[46]. - Total borrowings amounted to approximately HKD 4.0 million as of December 31, 2020, with a capital debt ratio increasing from 0% to 5.7% due to the rise in bank borrowings[77]. - The current ratio decreased from approximately 7.1 times as of March 31, 2020, to 3.6 times as of December 31, 2020, primarily due to increases in bank borrowings and trade payables[77]. - The company faces credit risk related to trade receivables, which may increase and result in longer trade receivable turnover days[106]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules, except for not purchasing insurance for directors' potential legal actions[127]. - The company has established an audit committee to oversee the appointment and performance of external auditors, consisting of three independent non-executive directors[132]. - As of December 31, 2020, there were no known interests or short positions held by directors or major shareholders that would conflict with the company's business[122]. - The company has not issued any new shares or options during the reporting period[131]. - No significant changes in shareholder structure were reported as of December 31, 2020[119]. Shareholder Information - The company’s major shareholders, Dr. Chen and Mr. Kwan, collectively hold approximately 41.05% of the issued share capital[111]. - Dr. Chen and Mr. Leung own approximately 68.2% and 31.8% of Wan Nian Property Development Limited, which holds 394,072,000 shares in the company, representing about 41.05% of the total issued share capital[121]. - The percentage of shares held by Wan Nian Property Development Limited is calculated based on 960,000,000 issued shares as of December 31, 2020[121].

Financial Performance - For the six months ended September 30, 2020, the company reported total revenue of HKD 36,652,000, a 19.3% increase from HKD 30,561,000 in the same period of 2019[12] - Gross profit for the same period was HKD 14,396,000, representing a 40.5% increase compared to HKD 10,273,000 in 2019[12] - The company achieved a profit before tax of HKD 6,102,000, compared to a loss of HKD 2,425,000 in the previous year[12] - Net profit for the period was HKD 4,994,000, a significant recovery from a loss of HKD 2,580,000 in the same period of 2019[12] - Basic and diluted earnings per share for the six months ended September 30, 2020, were HKD 0.52, compared to a loss per share of HKD 0.27 in 2019[12] - The company reported a total comprehensive loss of HKD 2,507,000 for the six months ended September 30, 2020, compared to a loss of HKD 2,580,000 in the same period of 2019[18] - The net profit for the six months ended September 30, 2020, was approximately HKD 5.0 million, compared to a loss of about HKD 2.6 million for the same period in 2019[89] Assets and Equity - Total assets as of September 30, 2020, were HKD 80,575,000, an increase from HKD 70,896,000 as of March 31, 2020[14] - The company reported a total equity of HKD 68,804,000 as of September 30, 2020, up from HKD 63,904,000 as of March 31, 2020[14] - The company’s total equity as of September 30, 2020, was HKD 68,804,000, a decrease from HKD 70,783,000 as of April 1, 2019[18] - The company’s retained earnings as of September 30, 2020, were HKD 9,592,000, down from HKD 11,562,000 as of April 1, 2019[18] Cash Flow - The company reported a net cash inflow from operating activities of HKD 8,714,000 for the six months ended September 30, 2020, compared to a net cash outflow of HKD 4,498,000 for the same period in 2019[20] - Cash and cash equivalents increased to HKD 39,661,000 as of September 30, 2020, from HKD 36,578,000 at the end of the same period in 2019[20] - The company reported a cash flow increase of HKD 7,333,000 for the six months ended September 30, 2020, compared to a decrease of HKD 5,707,000 in the same period of 2019[20] Revenue Sources - Revenue from customer contracts for the six months ended September 30, 2020, was HKD 36,652,000, representing a 19.8% increase from HKD 30,561,000 in the same period of 2019[30] - The company generated revenue of HKD 22,748,000 from new property construction for the six months ended September 30, 2020, up 35.9% from HKD 16,748,000 in the same period of 2019[30] - The company recognized revenue of HKD 20,346,000 from services transferred over time for the six months ended September 30, 2020, compared to HKD 15,211,000 in the same period of 2019, reflecting a 34.1% increase[30] - The increase in revenue was primarily due to contributions from structural and geotechnical engineering consulting services for new property construction, which added approximately HKD 3.2 million, and e-commerce retail online platform revenue, which contributed approximately HKD 2.9 million[81] Employee Costs and Workforce - For the six months ended September 30, 2020, the total employee costs amounted to HKD 24,750,000, an increase of 4.9% compared to HKD 23,598,000 for the same period in 2019[38] - Employee costs, including director remuneration, amounted to approximately HKD 24.8 million for the six months ended September 30, 2020, compared to approximately HKD 23.6 million for the same period in 2019[106] - The company employed a total of 144 employees as of September 30, 2020, an increase from 125 employees as of September 30, 2019[106] - As of September 30, 2020, the company hired 12 engineering staff and interns in the geotechnical engineering team, resulting in employee costs of approximately HKD 5.5 million[108] - The company also hired 5 engineering staff for civil engineering projects, leading to employee costs of about HKD 1.5 million as of September 30, 2020[113] Investments and Acquisitions - The company acquired property, plant, and equipment amounting to approximately HKD 23,000,000 for the six months ended September 30, 2020, a significant decrease from HKD 218,000,000 for the same period in 2019[55] - The company recognized a bargain purchase gain of approximately HKD 163,000 from the acquisition of Hangzhou Zhouji Network Technology Co., Ltd.[68] - Hangzhou Zhouji Network recorded a loss of approximately HKD 227,000 from the acquisition date to the end of the reporting period on September 30, 2020[69] Corporate Governance - The board has complied with the corporate governance code as per GEM Listing Rules, with a review of insurance arrangements for directors ongoing[154] - The Audit Committee was established on August 27, 2018, in compliance with GEM listing rules, consisting of three independent non-executive directors[161] - The Audit Committee is responsible for recommending the appointment and removal of external auditors and overseeing the integrity of the company's financial reports[161] - The company has established a robust internal control system to ensure compliance with regulatory requirements[154] Future Plans and Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[12] - The company aims to expand its market share by securing more engineering consulting service contracts[77] - The company continues to explore the e-commerce retail online platform under the variable interest entity arrangement, providing quality product selections and professional health management solutions[80] - The company is currently seeking projects in the field of old building restoration and maintenance[113] Risks and Challenges - The company faces risks related to reliance on professional staff, project cost estimates, and credit risk associated with trade receivables[123] - Due to the COVID-19 pandemic and social unrest in Hong Kong, the company delayed plans to lease additional office space[113]

Financial Performance - For the three months ended June 30, 2020, the company reported revenue of HKD 16,251,000, an increase of 5.9% compared to HKD 15,350,000 for the same period in 2019[9] - Gross profit for the same period was HKD 5,462,000, up from HKD 4,863,000 in 2019, reflecting a gross margin improvement[9] - The company recorded a net loss of HKD 186,000 for the three months ended June 30, 2020, a significant improvement from a net loss of HKD 1,998,000 in the prior year[9] - Basic and diluted loss per share was HKD 0.02, compared to HKD 0.21 for the same period in 2019[9] - Other income increased to HKD 591,000 from HKD 393,000 year-over-year, indicating growth in ancillary revenue streams[9] - Total comprehensive loss attributable to owners of the company was HKD 200,000, compared to HKD 1,979,000 in the same period last year, indicating a positive trend[9] - The group reported a loss of approximately HKD 0.2 million for the three months ended June 30, 2020, compared to a loss of HKD 2.0 million for the same period in 2019, indicating a significant reduction in losses[48] Cost Management - General and administrative expenses decreased to HKD 5,335,000 from HKD 6,948,000, showing improved cost management[9] - The total employee costs amounted to HKD 12,368,000, a decrease of 3.6% from HKD 12,827,000 in the same period last year[24] - Financing costs decreased by approximately 35.0%, from approximately HKD 40,000 for the three months ended June 30, 2019, to approximately HKD 26,000 for the three months ended June 30, 2020[46] - Employee costs for the three months ended June 30, 2020, were approximately HKD 12.4 million, slightly down from HKD 12.8 million for the same period in 2019, indicating a decrease of about 3.1%[64] Revenue Sources - The revenue from new property construction was HKD 10,738,000, up 25.6% from HKD 8,551,000 in the previous year[20] - The group's revenue for the three months ended June 30, 2020, was HKD 16,251,000, representing an increase of 5.9% compared to HKD 15,350,000 for the same period in 2019[20] - The group's revenue increased from approximately HKD 15.4 million for the three months ended June 30, 2019, to approximately HKD 16.3 million for the three months ended June 30, 2020, representing a growth of about 5.9%[41] Tax and Impairment - The group incurred a tax expense of HKD 322,000 for the period, compared to HKD 51,000 in the same period last year[28] - The total impairment loss on trade receivables and contract assets was HKD 656,000, significantly higher than HKD 170,000 in the previous year[24] - Income tax expenses increased from approximately HKD 51,000 to approximately HKD 322,000, an increase of about HKD 271,000, primarily due to increased taxable profits from a major subsidiary[47] Operational Focus - The company continues to focus on enhancing operational efficiency and exploring new market opportunities to drive future growth[9] - The financial results reflect the company's resilience amid challenging market conditions, with a strategic emphasis on cost control and revenue generation[9] - The ongoing COVID-19 pandemic has introduced additional uncertainties to the group's operating environment, which may continue to affect its operations and financial status[60] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules, except for a deviation regarding insurance for directors[85] - The compliance advisor and its associates had no interests in the company's securities as of June 30, 2020[83] - The board of directors includes three executive directors and three independent non-executive directors as of the report date[91] - The company has not reported any conflicts of interest involving directors or major shareholders as of June 30, 2020[81] Shareholder Information - The company holds 471,072,000 shares, representing approximately 49.07% of the total issued share capital as of June 30, 2020[67] - The major shareholders, Dr. Chen and Mr. Kwan, each control 49.07% of the company through Wan Nian Property Development Limited[72] Future Plans - The group plans to expand its civil engineering team, with an investment of HKD 6.5 million allocated for this purpose[63] - The company is upgrading its office infrastructure and building information modeling, with an investment of HKD 4.8 million planned[63] Dividends and Share Options - The company did not recommend any dividend for the three months ended June 30, 2020, consistent with the previous year[33] - No share options were granted under the share option scheme during the three months ended June 30, 2020, and there were no unexercised share options as of June 30, 2020[89]