Financial Performance - For the nine months ended December 31, 2019, the company reported total revenue of HKD 46,672,000, a decrease of 5.8% compared to HKD 49,563,000 for the same period in 2018[15] - The gross profit for the nine months was HKD 15,863,000, down 18.0% from HKD 19,486,000 in the previous year[15] - The company incurred a net loss of HKD 3,251,000 for the nine months, compared to a profit of HKD 914,000 in the same period of 2018[15] - The basic and diluted loss per share for the nine months was HKD (0.34), compared to earnings of HKD 0.12 per share in the prior year[15] - The company reported a total comprehensive loss attributable to owners of the company of HKD 3,207,000 for the nine months, compared to a total comprehensive income of HKD 1,034,000 in the same period of 2018[15] - Revenue from customer contracts for the nine months ended December 31, 2019, totaled HKD 46,672,000, a decrease of 5.8% compared to HKD 49,563,000 for the same period in 2018[59] - Gross profit fell from approximately HKD 19.5 million for the nine months ended December 31, 2018, to approximately HKD 15.9 million for the same period in 2019, a decrease of about 18.5%[85] - The overall gross profit margin decreased from approximately 39.3% for the nine months ended December 31, 2018, to approximately 34.0% for the same period in 2019[85] - The company reported a pre-tax loss of HKD 1,422,000 for the nine months ended December 31, 2019, compared to a pre-tax profit of HKD 412,000 for the same period in 2018[62] Expenses and Costs - The service cost for the nine months was HKD (30,809,000), slightly up from HKD (30,077,000) in the previous year[15] - General and administrative expenses rose to HKD (18,182,000) from HKD (12,622,000) in the previous year, reflecting a 43.9% increase[15] - Employee costs for the nine months ended December 31, 2019, amounted to HKD 35,241,000, an increase of 9.0% from HKD 32,299,000 in the same period of 2018[62] - The company incurred non-recurring listing expenses of approximately HKD 5.4 million for the nine months ended December 31, 2018, with no such expenses recognized for the same period in 2019[88] - Financing costs for the nine months ended December 31, 2019, totaled HKD 117,000, a decrease from HKD 147,000 in the same period of 2018[62] - Income tax expenses decreased by approximately 81.2% from about HKD 1.0 million for the nine months ended December 31, 2018, to about HKD 0.2 million for the same period in 2019[90] Equity and Assets - As of December 31, 2019, the company had total equity of HKD 67,576,000, which includes retained earnings of HKD 8,311,000[18] - The company’s total assets as of December 31, 2019, were reported at HKD 72,312,000, reflecting a significant increase from previous periods[18] - The company’s share capital increased to HKD 9,600,000 as of December 31, 2019, from HKD 10,000,000 at the beginning of the period[18] - The company reported other comprehensive income of HKD 44,000 for the nine months ending December 31, 2019[18] - The current ratio decreased from approximately 11.0 times on March 31, 2019, to 6.4 times on December 31, 2019, primarily due to a decrease in bank and cash balances and an increase in contract liabilities and lease liabilities[94] - As of December 31, 2019, the company had no borrowings, resulting in a capital debt ratio of 0% due to funds raised from share issuance and ongoing efforts to control financial leverage[94] Business Operations - The company is primarily engaged in providing comprehensive structural and geotechnical engineering consultancy services[20] - The company operates a single business segment, providing comprehensive structural and geotechnical engineering consulting services[56] - Almost all external revenue for the nine months ended December 31, 2019, was generated from services provided in Hong Kong, with no further regional data presented[57] - The company has not provided any further analysis of its single business segment beyond the overall performance and financial position[56] - The company’s non-current assets are primarily located in Hong Kong, with no additional regional data presented[57] Future Outlook - The company plans to focus on market expansion and new product development to improve future performance[15] - The company anticipates a challenging business environment moving forward, focusing on identifying new clients and projects to strengthen its market position[80] - The company aims to leverage funds raised from its share offering to secure more engineering consulting contracts and expand its market share[80] Corporate Governance - The audit committee, established on August 27, 2018, consists of three independent non-executive directors and has reviewed the unaudited condensed consolidated financial statements for the nine months ending December 31, 2019[137] - The company has complied with the corporate governance code as per GEM Listing Rules, except for a deviation regarding insurance for directors[132] - No securities transactions by directors violated the trading rules during the nine months ending December 31, 2019[133] - There were no business or interest conflicts reported by directors or major shareholders as of December 31, 2019[127] Shareholder Information - The company has a total issued share capital of 960,000,000 shares as of December 31, 2019, with Wanchai Development Limited holding approximately 49.07% of the shares[124] - Dr. Chan and Mr. Leung own approximately 68.2% and 31.8% of Wanchai Development Limited, respectively, which in turn holds 471,072,000 shares of the company[126] - No dividends were recommended by the board for the nine months ending December 31, 2019[134] - There were no share options granted or unexercised as of December 31, 2019[136] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ending December 31, 2019[131] Accounting Policies - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2019, impacting its accounting policies[22] - The company’s financial statements are prepared in accordance with Hong Kong Generally Accepted Accounting Principles[22] - The implementation of HKFRS 16 resulted in a decrease in retained earnings by HKD 165,000 as of April 1, 2019[18] - The company adopted the Hong Kong Financial Reporting Standard 16, resulting in a lease liability of HKD 4,472,000 as of April 1, 2019[47] - The weighted average incremental borrowing rate applied by the company was 3.86% for discounting lease liabilities[45] Risk Management - The company maintained a prudent treasury policy, continuously assessing customer credit and financial conditions to mitigate credit risk[95] - The company had no pledged assets as of December 31, 2019[105] - The company’s operations are primarily conducted in HKD, and the directors believe that foreign exchange exposure has minimal impact on the company[102]

Financial Performance - For the six months ended September 30, 2019, the total revenue was HKD 30,561,000, a decrease of 6.4% compared to HKD 32,439,000 for the same period in 2018[18]. - The gross profit for the same period was HKD 10,273,000, down 17.6% from HKD 12,473,000 in 2018[18]. - The net loss for the six months ended September 30, 2019, was HKD 2,580,000, compared to a net loss of HKD 1,339,000 for the same period in 2018[18]. - Other income for the six months ended September 30, 2019, was HKD 561,000, an increase from HKD 368,000 in 2018[18]. - The company incurred general and administrative expenses of HKD 12,221,000 for the six months ended September 30, 2019, compared to HKD 8,132,000 for the same period in 2018[18]. - Total comprehensive income for the six months ended September 30, 2019, was HKD (2,507,000), a decrease from HKD (1,204,000) in the previous year[26]. - The company reported a significant increase in share capital from HKD 10,000 to HKD 9,600,000 due to capital raising activities[23]. - The company recorded a pre-tax loss of HKD 9,226 thousand for the three months ended September 30, 2019, compared to a loss of HKD 9,150 thousand for the same period in 2018, showing a slight increase in losses[77]. - The group recorded a loss of approximately HKD 2.6 million for the six months ended September 30, 2019, compared to a loss of about HKD 1.3 million for the same period in 2018[128]. Cash Flow and Assets - The company's cash and bank balances were HKD 36,578,000 as of September 30, 2019, down from HKD 42,219,000 as of March 31, 2019[21]. - Cash and cash equivalents decreased by HKD 5,707,000 during the six months ended September 30, 2019, compared to an increase of HKD 48,246,000 in the same period of 2018[26]. - Operating activities used net cash of HKD 4,498,000 for the six months ended September 30, 2019, compared to net cash generated of HKD 5,424,000 in the prior year[26]. - The company had cash and cash equivalents of HKD 36,578,000 as of September 30, 2019, down from HKD 54,938,000 at the same time in 2018[26]. - Trade and other receivables increased to HKD 23,672,000 as of September 30, 2019, from HKD 19,994,000 as of March 31, 2019[21]. - Total assets decreased to HKD 73,974,000 as of September 30, 2019, from HKD 76,285,000 as of March 31, 2019[21]. - The company's retained earnings were reported at HKD 11,562 thousand as of September 30, 2019, compared to HKD 11,727 thousand at the beginning of the period[67]. Equity and Share Capital - The total equity attributable to the owners of the company was HKD 68,276,000 as of September 30, 2019, compared to HKD 70,948,000 as of March 31, 2019[21]. - The total equity attributable to owners of the company as of September 30, 2019, was HKD 70,074,000, a decrease from HKD 71,925,000 as of April 1, 2018[23]. - The total issued share capital as of September 30, 2019, was HKD 15,000,000, with 1,500,000,000 shares issued[104]. - The weighted average number of ordinary shares for basic loss per share calculation was 960,000,000 for the three months ended September 30, 2019, compared to 715,826,087 for the same period in 2018, showing an increase of 34.1%[8]. Employee Costs - The total employee costs amounted to HKD 23,598 thousand for the six months ended September 30, 2019, compared to HKD 21,252 thousand for the same period in 2018, reflecting an increase of approximately 11.0%[77]. - Employee costs for the six months ended September 30, 2019, amounted to approximately HKD 23.6 million, compared to HKD 21.3 million for the same period in 2018, reflecting an increase of about 10.8%[142]. - As of September 30, 2019, the company employed a total of 125 employees, a decrease from 129 employees as of September 30, 2018[142]. Lease and Accounting Standards - The company adopted HKFRS 16 for the first time, which impacted retained earnings by HKD (165,000)[34]. - The company recognized lease liabilities and right-of-use assets for operating leases previously classified under HKAS 17, with adjustments made on April 1, 2019[54]. - The company recognized right-of-use assets of approximately HKD 5,759,000 in accordance with HKFRS 16 during the six months ended September 30, 2019[96]. - The initial measurement of lease liabilities at the lease commencement date amounted to HKD 4,688,000, with a discount of HKD 150 based on the incremental borrowing rate[53]. - The weighted average incremental borrowing rate used for discounting lease liabilities was 3.86%[54]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules, with no significant deviations noted[173]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2019[178]. - The company is committed to continuously reviewing its corporate governance practices to meet regulatory requirements and stakeholder expectations[173]. - There were no business or interest conflicts reported among directors or major shareholders as of September 30, 2019[168]. Market Position and Future Outlook - The company aims to consolidate its market position and expand market share as part of its business plan outlined in the prospectus[112]. - The board believes that the upcoming construction and maintenance of properties in Hong Kong will be a key driver for the growth of the construction consulting industry[115]. - The group aims to leverage its experienced management team and industry reputation to secure more consulting contracts despite market challenges[115].

Financial Performance - For the three months ended June 30, 2019, the company reported revenue of HKD 15,350,000, a decrease of 2.57% from HKD 15,756,000 in the same period of 2018[11] - The gross profit for the same period was HKD 4,863,000, down 16.59% from HKD 5,832,000 year-over-year[11] - The company incurred a loss before tax of HKD 1,947,000 compared to a profit of HKD 1,471,000 in the previous year, indicating a significant decline in performance[11] - The net loss for the period was HKD 1,998,000, compared to a profit of HKD 1,124,000 in the same quarter of 2018[11] - The basic and diluted loss per share was HKD 0.21, compared to earnings of HKD 0.17 per share in the prior year[11] - Total comprehensive loss for the period amounted to HKD 1,979,000, compared to a comprehensive income of HKD 1,206,000 in the same period last year[11] - The company reported other income of HKD 393,000, which increased significantly from HKD 80,000 in the previous year[11] - Administrative expenses rose to HKD 6,948,000, up from HKD 4,054,000, reflecting increased operational costs[11] - The company experienced a foreign exchange gain of HKD 19,000, down from HKD 82,000 in the previous year[11] Revenue Breakdown - Revenue from new property construction was HKD 8,551,000, down 25.5% from HKD 11,397,000 in the previous year[40] - Revenue from renovation and maintenance of existing properties increased by 59.3% to HKD 5,537,000 from HKD 3,475,000[40] - The group's revenue for the three months ended June 30, 2019, decreased by approximately 2.6% to about HKD 15.4 million from approximately HKD 15.8 million in the previous fiscal period[67] - Group revenue decreased from approximately HKD 15.8 million for the three months ended June 30, 2018, to approximately HKD 15.4 million for the three months ended June 30, 2019, a decline of about 2.6%[70] Employee and Operational Costs - The total employee costs amounted to HKD 12,827,000, an increase from HKD 10,672,000 in the previous year[51] - Service costs increased from approximately HKD 9.9 million for the three months ended June 30, 2018, to approximately HKD 10.5 million for the three months ended June 30, 2019, an increase of about 5.7%[71] - General and administrative expenses increased from approximately HKD 4.0 million for the three months ended June 30, 2018, to approximately HKD 6.9 million for the three months ended June 30, 2019, an increase of about 71.4%[74] Tax and Financial Reporting - The income tax expense for the three months ended June 30, 2019, was HKD 51,000, a significant decrease from HKD 347,000 in the previous year[54] - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and comply with the applicable disclosure requirements of the GEM Listing Rules[22] Corporate Governance and Shareholder Information - The company has complied with the corporate governance code as per GEM Listing Rules, with no deviations reported except for the insurance arrangement for directors[136] - The board consists of three executive directors and three independent non-executive directors as of the report date[143] - As of June 30, 2019, the company had issued a total of 960 million shares, with major shareholders holding approximately 49.07% of the total share capital[130] - Dr. Chen and Mr. Leung collectively control 471,072,000 shares, representing 49.07% of the company's ordinary shares[110] - The major shareholders, Dr. Chen and Mr. Leung, own approximately 68.2% and 31.8% of Wan Nian Property Development Limited, which holds 49.07% of the company's total share capital[118] Future Plans and Strategies - The company is committed to improving its financial performance and exploring new strategies for market expansion and product development[11] - The company plans to leverage the net proceeds from the share offering to secure more consulting engineering service contracts to strengthen its market position[67] - The management believes that the acceleration and increase in land supply for residential development will be a key driving factor for the construction engineering consulting industry in Hong Kong[67] - The company aims to expand its market share and consolidate its industry position through strategic initiatives and leveraging its experienced management team[67] Accounting Standards and Compliance - The adoption of HKFRS 16 "Leases" resulted in an increase in both assets and liabilities, affecting the timing of expense recognition in the income statement[28] - The cumulative impact of adopting HKFRS 16 on retained earnings as of April 1, 2019, was recognized as an adjustment to the opening balance[34] - The company has not applied the new accounting model to short-term leases and low-value asset leases as a practical expedient[34] Miscellaneous - The company did not recommend any dividend payment for the three months ended June 30, 2019, consistent with the previous year[61] - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ended June 30, 2019[88] - The company has established a robust internal control system, leading to no insurance arrangements for directors' liabilities at this time[136] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2019[142] - The company has adopted a code of conduct regarding securities transactions by directors, with no violations reported during the three months ended June 30, 2019[137] - No share options were granted under the share option scheme during the three months ended June 30, 2019, and there were no unexercised share options as of June 30, 2019[141] - The company has allocated funds for office infrastructure expansion and building information modeling upgrades, with a budget of HKD 5.2 million[101] - The company has also allocated HKD 4.7 million to support and expand its materials engineering and building restoration services[102] - The company reported a general working capital allocation of HKD 1.2 million[103]

Financial Performance - For the fiscal year ending March 31, 2019, the company reported a revenue decrease of approximately 6.5%, from HKD 69.1 million to HKD 64.6 million[11]. - The decline in revenue was primarily due to reduced income from structural and geotechnical engineering consulting services related to new property construction[13]. - Gross profit decreased by approximately HKD 6.7 million or 21.9%, from approximately HKD 30.5 million for the year ended March 31, 2018, to approximately HKD 23.8 million for the year ended March 31, 2019[16]. - The overall gross margin declined from approximately 44.1% for the year ended March 31, 2018, to approximately 36.8% for the year ended March 31, 2019[16]. - General and administrative expenses rose by approximately HKD 4.3 million or 30.3%, from approximately HKD 14.1 million for the year ended March 31, 2018, to approximately HKD 18.4 million for the year ended March 31, 2019[17]. - The company reported a loss of approximately HKD 0.4 million for the year ended March 31, 2019, compared to a profit of approximately HKD 2.1 million for the year ended March 31, 2018, representing a decrease of approximately HKD 2.5 million or 120.0%[22]. Market Outlook and Strategy - The company remains optimistic about the demand in the Hong Kong construction industry, despite global economic uncertainties[9]. - The management believes that the upcoming construction and maintenance of properties will be a key driver for the growth of the construction consulting industry in Hong Kong[12]. - The company plans to leverage the net proceeds from the share issuance to secure more consulting service contracts and strengthen its market position[12]. - The company aims to expand the types of consulting services offered to various clients[11]. - The management team is confident in its ability to compete effectively against industry peers due to its experienced management and established reputation[12]. - The company acknowledges the increasing market competition, particularly from competitors offering services at lower prices[13]. Employee and Operational Management - The total employee costs for the year ended March 31, 2019, were approximately HKD 43.6 million, up from approximately HKD 41.8 million for the year ended March 31, 2018[39]. - The company emphasizes the importance of recruiting skilled professionals to maintain its industry reputation and explore new business opportunities[9]. - The company is focused on strategic planning and overall business development, with a management team having extensive experience in the engineering industry[44][51]. - The company is actively involved in the daily management of its operations, ensuring effective execution of its business strategies[51]. Sustainability and ESG Initiatives - The board of directors emphasized the importance of sustainability initiatives, with plans to reduce carbon emissions by 30% by 2025[55]. - The environmental, social, and governance (ESG) report summarizes the group's initiatives, plans, and performance in sustainability[86]. - The group collects data related to ESG and prepares the ESG report, assisting in risk management evaluation[87]. - The company has a commitment to environmental, labor practices, and other ESG aspects, reviewing its performance regularly[87]. - The group has established appropriate and effective management policies and internal control systems regarding environmental, social, and governance matters as of March 31, 2019[96]. Corporate Governance - The company has a strong commitment to corporate governance, with independent non-executive directors overseeing key committees such as the remuneration and audit committees[68]. - The board of directors consists of six members, including three executive directors and three independent non-executive directors[181]. - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional experience[189]. - The board is responsible for significant decisions, including annual operating plans and major acquisitions[184]. - The company emphasizes transparency and accountability as essential for effective management and business growth[178]. Community Engagement and Social Responsibility - The company encourages employee participation in social and charitable activities to foster a positive work environment[126]. - The company emphasizes corporate social responsibility, encouraging employee participation in charitable activities to foster a sense of social responsibility[152]. - Stakeholder engagement includes communication channels such as annual general meetings, reports, and company websites to gather feedback and improve performance[93].

Financial Performance - For the three months ended December 31, 2018, the company reported revenue of HKD 17,124 thousand, an increase from HKD 16,494 thousand in the same period of 2017, representing a growth of 4%[5] - The gross profit for the nine months ended December 31, 2018, was HKD 19,486 thousand, down 16% from HKD 23,341 thousand in the same period of 2017[5] - The company achieved a profit before tax of HKD 2,596 thousand for the three months ended December 31, 2018, compared to a loss of HKD 3,804 thousand in the same period of 2017[5] - The net profit for the nine months ended December 31, 2018, was HKD 914 thousand, a significant increase from HKD 275 thousand in the same period of 2017[5] - The company reported a basic and diluted earnings per share of HKD 0.23 for the three months ended December 31, 2018, compared to a loss per share of HKD 0.57 in the same period of 2017[5] - The total comprehensive income for the nine months ended December 31, 2018, was HKD 1,034 thousand, compared to HKD 197 thousand in the same period of 2017[7] - The company's profit attributable to owners for the nine months ended December 31, 2018, was HKD 2,253,000, compared to a loss of HKD 3,810,000 for the same period in 2017, marking a significant turnaround[36] - Basic earnings per share for the nine months ended December 31, 2018, was HKD 0.23, compared to a loss of HKD 0.57 for the same period in 2017[36] - The company reported a net profit of HKD 0.9 million for the nine months ended December 31, 2018, an increase of approximately 232.4% from HKD 0.3 million in the previous year[52] Revenue and Costs - The group reported unaudited consolidated revenue of HKD 49,563,000 for the nine months ended December 31, 2018, compared to HKD 52,214,000 for the same period in 2017, representing a decrease of approximately 5%[19] - Revenue decreased by approximately 5.1%, from HKD 52.2 million for the nine months ended December 31, 2017, to HKD 49.6 million for the same period in 2018[45] - Service costs increased by approximately 4.2%, from HKD 28.9 million to HKD 30.1 million for the same periods, primarily due to increased consulting subcontractor fees[46] - Gross profit decreased from HKD 23.3 million to HKD 19.5 million, resulting in a gross margin decline from approximately 44.7% to 39.3%[47] - General and administrative expenses rose by approximately 27.4%, from HKD 9.9 million to HKD 12.6 million, mainly due to salary increases and additional hiring[49] Equity and Financial Position - The company’s total equity as of December 31, 2018, was HKD 72,312 thousand, reflecting an increase from HKD 26,187 thousand at the end of 2017[7] - The current ratio improved significantly from approximately 2.4 times to 13.7 times, primarily due to increased cash from share issuance and reduced bank borrowings[55] - Total borrowings decreased by approximately 97.1%, from HKD 8.9 million to HKD 0.3 million as of December 31, 2018[55] - As of December 31, 2018, the group's bank borrowings amounted to HKD 255,000, with HKD 5,570,000 due within one year as of March 31, 2018[56] - The group maintained a stable liquidity position, with a total employee cost of approximately HKD 32.3 million for the nine months ended December 31, 2018, compared to HKD 30.9 million for the same period in 2017[70] Tax and Expenses - The group incurred a total tax expense of HKD 1,070,000 for the nine months ended December 31, 2018, compared to HKD 2,003,000 for the same period in 2017, indicating a decrease of approximately 46.4%[28] - Total employee costs for the nine months ended December 31, 2018, amounted to HKD 32,299,000, an increase from HKD 30,924,000 in the same period of 2017, reflecting a rise of about 4.4%[24] Corporate Governance and Compliance - The board of directors did not recommend the payment of dividends for the nine months ended December 31, 2018, consistent with the previous year[35] - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2018, without early application of any standards not yet effective[17] - The group’s accounting policies and methods for the nine months ended December 31, 2018, are consistent with those used in the previous financial period[17] - The company has complied with the corporate governance code as per GEM Listing Rules, with a noted deviation regarding insurance for directors[106] - The audit committee was established on August 27, 2018, to oversee the integrity of financial reporting and the independence of external auditors[111] Business Strategy and Operations - The company plans to continue expanding its structural and geotechnical engineering consulting services in the market[10] - The company has been focusing on enhancing its operational efficiency and exploring new market opportunities[10] - The company is committed to ongoing research and development of new technologies to improve service offerings[10] - The company plans to leverage its experienced management team and industry reputation to secure more consulting service contracts and expand market share[42] Employment and Share Capital - The group employed a total of 130 employees as of December 31, 2018, a slight decrease from 132 employees as of March 31, 2018[70] - The company’s issued share capital consists of 960,000,000 ordinary shares, with a nominal value of HKD 0.01 each, as of the report date[59] - The major shareholder, Wan Nian Real Estate Development Limited, holds approximately 49.07% of the company's total issued share capital, equating to 471,072,000 shares[96] - As of December 31, 2018, the company had a total of 960,000,000 issued shares, with significant ownership concentrated among key stakeholders[100] Other Information - The group had operating lease commitments of approximately HKD 5.4 million as of December 31, 2018, down from HKD 6.6 million as of March 31, 2018[60] - The net proceeds from the share issuance on September 17, 2018, amounted to approximately HKD 26.9 million, with HKD 1.2 million used for general working capital as of December 31, 2018[73] - The group had no significant contingent liabilities as of December 31, 2018[65] - There were no major acquisitions or disposals of subsidiaries or associated companies during the nine months ended December 31, 2018[64] - The company did not grant any share options during the nine months ending December 31, 2018, and there were no unexercised options as of that date[110] - No conflicts of interest were reported among directors or major shareholders as of December 31, 2018[101] - The company has not disclosed any new product developments or market expansion strategies in the provided documents[104] - The company has not engaged in any mergers or acquisitions during the reporting period[104]