饮食天王(环球)(08619)发布截至2025年3月31日止年度业绩，该集团期内取得收益1.04亿港元，同比增 加3.26%;公司拥有人应占年内溢利6450.6万港元，同比增加1634.97%;每股基本盈利47.5港仙。 ...

智通财经APP讯，饮食天王(环球)(08619)发布截至2025年3月31日止年度业绩，该集团期内取得收益1.04 亿港元，同比增加3.26%;公司拥有人应占年内溢利6450.6万港元，同比增加1634.97%;每股基本盈利47.5 港仙。 ...

格隆汇8月1日丨饮食天王(环球)(08619.HK)发布公告，截至2025年3月31日止年度，实现收益1.04亿港 元，同比增加3.26%；毛利2451.9万港元，同比减少26.4%；公司拥有人应占年内溢利6450.6万港元，同 比增加1635%；基本及摊薄每股盈利47.50港仙。 ...

2025 Annual Report Annual Report 2025 2025 年 報 年報 聯交所GEM的特色 GEM的定位，乃為較其他於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 者應瞭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，於GEM買賣的證券可能會承受較於聯交所主機板買賣的證券更高的市 場波動風險，同時無法保證於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，概不對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GEM上市規則而刊載，旨在提供有關本公司的資料；NIU Holdings Limited（前稱「飲食天王 （環球）控股有限公司」）（「本公司」）董事（「董事」）願就本報告的資料共同及個別地承擔全部責任。各董事在 作出一切合理查詢後，確認就其所知及所信，本報告所載資料在各重要方面均屬準確完備，並無誤導或欺詐成 分，且並無遺漏任何其他事項，足以令致本報告所載 ...

[Annual Results Announcement](index=2&type=section&id=Annual%20Results%20Announcement) The annual results announcement provides a comprehensive overview of the Group's financial performance and position for the year ended March 31, 2025 [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's consolidated statement of profit or loss for the year ended March 31, 2025, shows revenue growth, a decline in gross profit, and a significant increase in profit for the year, primarily driven by fair value changes in financial assets | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 104,274 | 100,981 | 3,293 | 3.3% | | Cost of Services | (79,755) | (67,667) | (12,088) | 17.9% | | Gross Profit | 24,519 | 33,314 | (8,795) | (26.4%) | | Other Income | 1,410 | 1,906 | (496) | (26.0%) | | Fair Value Changes of Financial Assets at Fair Value Through Profit or Loss | 77,700 | 18,307 | 59,393 | 324.4% | | Profit Before Tax | 64,013 | 3,584 | 60,429 | 1686.2% | | Profit for the Year Attributable to Owners of the Company | 64,506 | 3,718 | 60,788 | 1634.9% | | Basic and Diluted Earnings Per Share (HK cents) | 47.50 | 3.19 | 44.31 | 1389.0% | [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the Group's total assets and net assets significantly increased, mainly due to a substantial rise in financial assets at fair value through profit or loss | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Non-current Assets | 112,230 | 38,604 | 73,626 | 190.7% | | Financial Assets at Fair Value Through Profit or Loss | 96,831 | 26,631 | 70,200 | 263.6% | | Current Assets | 131,189 | 116,377 | 14,812 | 12.7% | | Current Liabilities | 38,329 | 35,360 | 2,969 | 8.4% | | Net Current Assets | 92,860 | 81,017 | 11,843 | 14.6% | | Net Assets | 197,320 | 115,796 | 81,524 | 70.4% | [Consolidated Statement of Changes in Equity](index=5&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) For the year ended March 31, 2025, total equity attributable to owners of the Company significantly increased due to substantial profit for the year and capital increases from two share placements | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Equity at Beginning of Period | 115,796 | 91,956 | 23,840 | 25.9% | | Profit for the Year | 64,506 | 3,718 | 60,788 | 1634.9% | | Placement of New Shares | 18,000 | 20,168 | (2,168) | (10.7%) | | Transaction Costs Attributable to Placement of New Shares | (1,000) | (248) | (752) | 303.2% | | Total Equity at End of Period | 197,320 | 115,796 | 81,524 | 70.4% | [Notes to the Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) These notes provide detailed information and explanations supporting the consolidated financial statements [General Information](index=6&type=section&id=General%20Information) NIU Holdings Limited, formerly King Of Catering (Global) Holdings Ltd., is an investment holding company listed on GEM since September 17, 2018, and officially changed its English name on June 5, 2025 - The company officially changed its English name from "King Of Catering (Global) Holdings Ltd." to "**NIU Holdings Limited**" on June 5, 2025, and removed its Chinese name[8](index=8&type=chunk) - The company is an investment holding company, with its shares listed on GEM of The Stock Exchange of Hong Kong Limited since September 17, 2018[9](index=9&type=chunk) [Basis of Preparation](index=6&type=section&id=Basis%20of%20Preparation) The consolidated financial statements are prepared in accordance with applicable Hong Kong Financial Reporting Standards, presented in HKD, and measured on a historical cost basis - The consolidated financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants[10](index=10&type=chunk) - The consolidated financial statements are presented in **Hong Kong Dollars** and rounded to the nearest thousand, with HKD being the functional currency of the Company and its Hong Kong subsidiaries[11](index=11&type=chunk) - The measurement basis used in preparing the consolidated financial statements is the historical cost basis, except for derivative financial assets measured at fair value[11](index=11&type=chunk) [Adoption of New and Revised Hong Kong Financial Reporting Standards](index=7&type=section&id=Adoption%20of%20New%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group has adopted new and revised HKFRSs with no material impact on current or prior period financial performance, while assessing the potential significant impact of HKFRS 18 on financial statement presentation and disclosure - The adoption of revised Hong Kong Financial Reporting Standards and interpretations for the current year had no material impact on the Group's financial performance, position, or disclosures for the current and prior years[13](index=13&type=chunk) - HKFRS 18 will replace HKAS 1, introducing new requirements to enhance comparability, relevance, and transparency of financial performance, and will lead to significant changes in the structure of the statement of profit or loss, disclosure of management-defined performance measures, and disaggregation requirements[19](index=19&type=chunk) - The Company's directors are currently assessing the impact of applying HKFRS 18 on the presentation and disclosures in the consolidated financial statements[19](index=19&type=chunk) [Revenue and Segment Information](index=10&type=section&id=Revenue%20and%20Segment%20Information) The Group's primary business is providing structural and geotechnical engineering consultancy services, with IT equipment installation services introduced this year, and revenue mainly generated in Hong Kong from a single operating segment - The Group's principal businesses include providing comprehensive structural and geotechnical engineering consultancy services, equipment leasing services in Hong Kong, and IT equipment installation services[20](index=20&type=chunk) - For the years ended March 31, 2025 and 2024, the Group operated only a single operating and reportable segment, namely comprehensive structural and geotechnical engineering consultancy services[25](index=25&type=chunk) - For the years ended March 31, 2025 and 2024, no individual external customer accounted for **10% or more** of the Group's total revenue[28](index=28&type=chunk) [Disaggregation of Revenue](index=10&type=section&id=Disaggregation%20of%20Revenue) For the year ended March 31, 2025, the Group's revenue was **HKD 104.27 million**, primarily from engineering services for new property construction, with all revenue recognized over time | Revenue Source | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Construction of New Properties | 89,316 | 79,593 | 9,723 | 12.2% | | Renovation/Maintenance of Existing Properties | 7,369 | 9,693 | (2,324) | (24.0%) | | Others | 7,589 | 11,695 | (4,106) | (35.1%) | | **Total Revenue** | **104,274** | **100,981** | **3,293** | **3.3%** | - Revenue primarily refers to contract revenue from providing comprehensive structural and geotechnical engineering consultancy services, recognized over time as the Group constructs or renovates assets and transfers control to customers[22](index=22&type=chunk) [Revenue Expected to be Recognized in the Future](index=11&type=section&id=Revenue%20Expected%20to%20be%20Recognized%20in%20the%20Future) As of March 31, 2025, the Group's remaining performance obligations from existing customer contracts totaled approximately **HKD 125.01 million**, expected to be recognized over the next two years and beyond | Expected Recognition Time | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Within 1 year | 63,331 | 57,981 | 5,350 | 9.2% | | Within 1 to 2 years | 34,877 | 29,961 | 4,916 | 16.4% | | After 2 years | 26,802 | 19,163 | 7,639 | 39.9% | | **Total** | **125,010** | **107,105** | **17,905** | **16.7%** | [Segment Reporting and Geographical Information](index=12&type=section&id=Segment%20Reporting%20and%20Geographical%20Information) The Group primarily operates in Hong Kong, treating comprehensive structural and geotechnical engineering consultancy services as a single operating segment, with non-current assets mainly located in Hong Kong and Mainland China - For the years ended March 31, 2025 and 2024, the Group operated only a single operating and reportable segment (i.e., comprehensive structural and geotechnical engineering consultancy services)[25](index=25&type=chunk) | Region | Revenue from External Customers (2025, Thousand HKD) | Revenue from External Customers (2024, Thousand HKD) | Non-current Assets (2025, Thousand HKD) | Non-current Assets (2024, Thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | Hong Kong | 104,274 | 99,849 | 11,141 | 9,038 | | Mainland China | – | – | 515 | 950 | | Macau | – | 1,132 | – | – | | **Total** | **104,274** | **100,981** | **11,656** | **9,988** | [Other Income and Other Gains/(Losses) – Net](index=14&type=section&id=Other%20Income%20and%20Other%20Gains%2F(Losses)%20%E2%80%93%20Net) For the year ended March 31, 2025, the Group's net other income and other gains was **HKD 1.32 million**, a decrease from the prior year, primarily due to lower interest income | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Other Income | 1,410 | 1,906 | (496) | (26.0%) | | Total Other Losses – Net | (91) | (216) | 125 | (57.9%) | | **Total Other Income and Other Gains – Net** | **1,319** | **1,690** | **(371)** | **(21.9%)** | [Finance Costs](index=14&type=section&id=Finance%20Costs) For the year ended March 31, 2025, the Group's finance costs were approximately **HKD 0.39 million**, mainly comprising interest on lease liabilities, remaining largely consistent with the prior year | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Interest on Bank Overdrafts | 1 | – | 1 | N/A | | Interest on Lease Liabilities | 387 | 417 | (30) | (7.2%) | | **Total** | **388** | **417** | **(29)** | **(7.0%)** | [Profit Before Tax](index=15&type=section&id=Profit%20Before%20Tax) Profit before tax is primarily influenced by staff costs, depreciation, and R&D expenses; total staff costs for the year ended March 31, 2025, were **HKD 75.51 million**, with **HKD 64.09 million** included in cost of services | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Staff Costs | 75,506 | 78,215 | (2,709) | (3.5%) | | Auditor's Remuneration | 730 | 720 | 10 | 1.4% | | Depreciation of Property, Plant and Equipment | 1,402 | 1,431 | (29) | (2.0%) | | Depreciation of Right-of-use Assets | 3,360 | 3,091 | 269 | 8.7% | | Research and Development Expenses | – | 500 | (500) | (100.0%) | [Income Tax Credit](index=16&type=section&id=Income%20Tax%20Credit) For the year ended March 31, 2025, the Group recorded an income tax credit of **HKD 0.49 million**, mainly due to deferred tax credits, with Hong Kong profits tax levied under a two-tiered system and Mainland China subsidiaries benefiting from preferential tax policies | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Current Tax (Hong Kong Profits Tax) | 185 | – | 185 | N/A | | Deferred Tax Credit | (678) | (134) | (544) | 406.0% | | **Income Tax Credit** | **(493)** | **(134)** | **(359)** | **267.9%** | - A Hong Kong subsidiary of the Company is subject to a two-tiered profits tax system, with the first **HKD 2 million** taxed at **8.25%** and the remainder at **16.5%**[32](index=32&type=chunk) - Mainland China enterprise income tax is provisioned at a **25%** rate, with some subsidiaries qualifying for preferential tax policies for small and micro-enterprises[33](index=33&type=chunk) [Earnings Per Share](index=19&type=section&id=Earnings%20Per%20Share) For the year ended March 31, 2025, basic and diluted earnings per share attributable to owners of the Company significantly increased to **47.50 HK cents**, primarily due to higher profit for the year, with the weighted average number of ordinary shares retrospectively adjusted for share consolidation | Indicator | 2025 | 2024 (Restated) | Change | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Profit for the Year Attributable to Owners of the Company (Thousand HKD) | 64,506 | 3,718 | 60,788 | 1634.9% | | Weighted Average Number of Ordinary Shares (Thousands) | 135,816 | 116,511 | 19,305 | 16.6% | | **Basic and Diluted Earnings Per Share (HK cents)** | **47.50** | **3.19** | **44.31** | **1389.0%** | - The weighted average number of ordinary shares for current and prior years has been retrospectively adjusted to reflect the share consolidation on June 9, 2025[35](index=35&type=chunk) [Income Tax in the Consolidated Statement of Financial Position](index=20&type=section&id=Income%20Tax%20in%20the%20Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the Group's income tax payable was **HKD 0.19 million**, compared to a recoverable tax in the prior year; deferred tax assets increased to **HKD 1.50 million**, and deferred tax liabilities were eliminated | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | | :--- | :--- | :--- | :--- | | Tax Payable/(Recoverable) at End of Period | 185 | (1,066) | 1,251 | | Deferred Tax Assets Recognized in Consolidated Statement of Financial Position | 1,500 | 1,056 | 444 | | Deferred Tax Liabilities Recognized in Consolidated Statement of Financial Position | – | (234) | 234 | | **Net Deferred Tax** | **1,500** | **822** | **678** | [Trade and Other Receivables](index=21&type=section&id=Trade%20and%20Other%20Receivables) As of March 31, 2025, total trade and other receivables increased to **HKD 86.49 million**, primarily due to higher trade receivables; the Group closely monitors credit quality and has a policy for expected credit loss provisions | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Trade Receivables (net of allowance for expected credit losses) | 48,099 | 36,568 | 11,531 | 31.5% | | Deposits, Prepayments and Other Receivables (net of allowance for expected credit losses) | 38,388 | 12,189 | 26,199 | 214.9% | | **Total Trade and Other Receivables** | **86,487** | **48,757** | **37,730** | **77.4%** | - The Group's management closely monitors the credit quality of trade receivables and assesses credit quality and sets credit limits before accepting new customers[40](index=40&type=chunk) - The Group has a policy for expected credit loss provisions, based on an assessment of account recoverability, aging analysis, and management judgment[40](index=40&type=chunk) [Trade and Other Payables](index=23&type=section&id=Trade%20and%20Other%20Payables) As of March 31, 2025, total trade and other payables increased to **HKD 9.75 million**, mainly due to higher accrued expenses and other payables, with an increase in long service payment provisions | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change (Thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Trade Payables | 1,171 | 1,495 | (324) | (21.7%) | | Provision for Annual Leave and Long Service Payments | 2,768 | 2,632 | 136 | 5.2% | | Accrued Expenses and Other Payables | 5,809 | 4,444 | 1,365 | 30.7% | | **Total Trade and Other Payables** | **9,748** | **8,571** | **1,177** | **13.7%** | - The provision for long service payments refers to the obligation to pay long service payments in accordance with the Hong Kong Employment Ordinance (Cap. 57)[42](index=42&type=chunk) [Capital](index=25&type=section&id=Capital) The Company's authorized share capital is **HKD 15.00 million**, with 1,382,000,000 ordinary shares issued as of March 31, 2025; share capital and share premium increased during the year through two share placements - The Company's authorized share capital is **HKD 15,000,000**, divided into **1,500,000,000 shares** of **HKD 0.01** each[44](index=44&type=chunk) - As of March 31, 2025, the number of issued ordinary shares was **1,382,000,000**[44](index=44&type=chunk) [Share Capital](index=25&type=section&id=Share%20Capital) Two share placements completed on January 31, 2024, and May 29, 2024, issued 80,000,000 and 150,000,000 new shares respectively, raising net proceeds of approximately **HKD 19.92 million** and **HKD 17.00 million** to increase share capital and share premium - A placement of **80,000,000 new shares** was completed on January 31, 2024, raising net proceeds of approximately **HKD 19.92 million**, increasing share capital by **HKD 800,000** and share premium by **HKD 19.12 million**[44](index=44&type=chunk) - A placement of **150,000,000 new shares** was completed on May 29, 2024, raising net proceeds of approximately **HKD 17.00 million**, increasing share capital by **HKD 1,500,000** and share premium by **HKD 15.50 million**, with proceeds to be used for developing food and beverage and IT business segments and general working capital[46](index=46&type=chunk) [Dividends](index=26&type=section&id=Dividends) The Company's directors did not recommend the payment of a final dividend for the year ended March 31, 2025 - The Company's directors did not recommend the payment of a final dividend for the year ended March 31, 2025 (2024: nil)[47](index=47&type=chunk) [Events After the Reporting Period](index=27&type=section&id=Events%20After%20the%20Reporting%20Period) Significant post-reporting period events include three share placements, a share consolidation, and the dilution of the Group's equity interest in OPS, which may impact the valuation of financial assets at fair value through profit or loss - A placement of up to **118,000,000 placing shares** was completed on May 30, 2025, with net proceeds of approximately **HKD 2.42 million**[48](index=48&type=chunk) - On June 9, 2025, the Company consolidated every **10 issued and unissued ordinary shares** of **HKD 0.01** each into **1 ordinary share** of **HKD 0.10**[49](index=49&type=chunk) - On June 9, 2025, the Group's equity interest in OPS was diluted from **15.22% to 2.56%**, which may affect the valuation of financial assets at fair value through profit or loss[50](index=50&type=chunk) [Management Discussion and Analysis](index=28&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business performance, financial position, and future outlook [Business Review and Outlook](index=28&type=section&id=Business%20Review%20and%20Outlook) The Group, primarily an engineering consultancy, successfully introduced IT business, achieving revenue growth, and has rebranded to NIU Holdings Limited to reflect its diversified business strategy and future expansion plans - The Group is a construction engineering consultant specializing in comprehensive structural and geotechnical engineering design, and successfully introduced IT business in Hong Kong and the People's Republic of China during the current financial year[51](index=51&type=chunk) - For the year ended March 31, 2025, the Group's revenue increased by approximately **3.3%** to approximately **HKD 104.3 million**, mainly due to a slight increase in project volume and revenue contribution from structural and geotechnical engineering consulting services, as well as approximately **HKD 0.8 million** from IT solution services[51](index=51&type=chunk) - The Group changed its name to NIU Holdings Limited during the year, marking a new era for the Group to not only provide construction engineering consultancy services but also to actively explore new business segments, including the information technology industry[52](index=52&type=chunk) [Financial Review](index=29&type=section&id=Financial%20Review) The Group's revenue grew by 3.3%, but increased cost of services led to a 26.4% decline in gross profit; profit for the year surged by 1634.9%, primarily driven by **HKD 77.7 million** in fair value gains from financial assets at fair value through profit or loss - The Group's revenue increased by approximately **3.3%** from approximately **HKD 101.0 million** to approximately **HKD 104.3 million**[54](index=54&type=chunk) - Gross profit decreased by **26.4%** to approximately **HKD 24.5 million**, with the gross profit margin falling from **33.0% to 23.5%**, mainly due to a reduction in the number of smaller projects which typically have higher gross profit margins[56](index=56&type=chunk) - For the year ended March 31, 2025, the Group recorded a profit for the year of approximately **HKD 64.5 million**, primarily attributable to fair value changes of financial assets at fair value through profit or loss of approximately **HKD 77.7 million**[62](index=62&type=chunk) [Revenue](index=29&type=section&id=Revenue) Revenue increased by **3.3%** year-on-year to **HKD 104.3 million**, driven by an increase in new property construction projects, structural and geotechnical engineering consulting services, and approximately **HKD 0.8 million** from IT solution services - Revenue increased by approximately **HKD 3.3 million** or **3.3%** from approximately **HKD 101.0 million** for the year ended March 31, 2024, to approximately **HKD 104.3 million** for the year ended March 31, 2025[54](index=54&type=chunk) [Cost of Services](index=30&type=section&id=Cost%20of%20Services) Cost of services increased by **17.9%** year-on-year to **HKD 79.8 million**, mainly due to higher subcontracting consultant fees and increased staff costs and benefits for structural and geotechnical engineering consulting services - Cost of services increased by approximately **HKD 12.1 million** or **17.9%** from approximately **HKD 67.7 million** to approximately **HKD 79.8 million**[55](index=55&type=chunk) [Gross Profit](index=30&type=section&id=Gross%20Profit) Gross profit decreased by **26.4%** to **HKD 24.5 million**, with the gross profit margin falling from **33.0% to 23.5%**, primarily due to a reduction in the number of smaller, higher-margin projects - The Group's gross profit decreased by approximately **HKD 8.8 million** or **26.4%** to approximately **HKD 24.5 million**, with the gross profit margin decreasing from **33.0% to 23.5%**[56](index=56&type=chunk) [Other Income and Other Gains or Losses](index=30&type=section&id=Other%20Income%20and%20Other%20Gains%20or%20Losses) Net other income and other gains or losses decreased by approximately **HKD 0.4 million**, primarily due to a reduction in interest income - The Group's other income and other gains or losses were approximately **HKD 1.3 million** and **HKD 1.7 million** respectively, a decrease of approximately **HKD 0.4 million**, mainly due to a reduction in interest income[57](index=57&type=chunk) [Fair Value Changes of Financial Assets at Fair Value Through Profit or Loss](index=31&type=section&id=Fair%20Value%20Changes%20of%20Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) The Group recorded a gain of approximately **HKD 77.7 million** from fair value changes of financial assets at fair value through profit or loss, mainly due to an increase in the fair value of its OPS shares, driven by the market capitalization increase of OPS's subsidiary, Super X AI Technology Limited, after its NASDAQ listing - The Group recorded a gain of approximately **HKD 77.7 million** from fair value changes of financial assets at fair value through profit or loss, representing an increase in the fair value of the Group's shares in OPS as of March 31, 2025[58](index=58&type=chunk) [General and Administrative Expenses](index=31&type=section&id=General%20and%20Administrative%20Expenses) General and administrative expenses decreased by **12.3%** year-on-year to **HKD 35.1 million**, primarily including staff costs, bonuses, training, and legal professional fees - The Group's general and administrative expenses decreased by approximately **HKD 4.9 million** or **12.3%** to approximately **HKD 35.1 million** from approximately **HKD 40.0 million**[59](index=59&type=chunk) [Finance Costs](index=31&type=section&id=Finance%20Costs) Finance costs were approximately **HKD 0.4 million**, mainly comprising interest expenses on lease liabilities and bank borrowings, consistent with the prior year - Finance costs for the years ended March 31, 2025 and 2024, were approximately **HKD 0.4 million**, consisting of interest expenses on lease liabilities and bank borrowings[60](index=60&type=chunk) [Income Tax Expense](index=31&type=section&id=Income%20Tax%20Expense) Income tax expense increased to approximately **HKD 0.5 million**, primarily due to a decrease in taxable profit of a key operating subsidiary of the Company - For the year ended March 31, 2025, the Group incurred income tax of approximately **HKD 0.5 million**, compared to an income tax expense of approximately **HKD 0.1 million** for the year ended March 31, 2024[61](index=61&type=chunk) [Profit for the Year](index=32&type=section&id=Profit%20for%20the%20Year) Profit for the year significantly increased to **HKD 64.5 million**, primarily attributable to fair value changes of financial assets at fair value through profit or loss of approximately **HKD 77.7 million** - For the year ended March 31, 2025, the Group recorded a profit for the year of approximately **HKD 64.5 million**, primarily attributable to fair value changes of financial assets at fair value through profit or loss of approximately **HKD 77.7 million**[62](index=62&type=chunk) [Liquidity and Financial Resources](index=32&type=section&id=Liquidity%20and%20Financial%20Resources) The Group primarily meets its liquidity needs through operating cash flow, with a current ratio improving from **3.3 times to 3.4 times**, indicating a sound financial position; the Group had no borrowings as of March 31, 2025 - The current ratio increased from approximately **3.3 times** as of March 31, 2024, to **3.4 times** as of March 31, 2025, mainly due to an increase in contract liabilities[63](index=63&type=chunk) - As of March 31, 2025, the Group had no borrowings, thus the gearing ratio is not applicable[63](index=63&type=chunk) - The Directors believe that the Group's financial position is sound and strong, and its liquidity is sufficient to meet funding requirements, supported by available bank and cash balances and bank credit facilities[63](index=63&type=chunk) [Treasury Policy](index=33&type=section&id=Treasury%20Policy) The Group adopts prudent financial management principles, maintaining a sound liquidity position and closely monitoring customer credit and liquidity risks - The Group adopts prudent financial management principles, maintaining a sound liquidity position and continuously assessing customers' creditworthiness and financial standing to mitigate credit risk[64](index=64&type=chunk) [Capital Structure](index=33&type=section&id=Capital%20Structure) The Company's shares were listed on GEM on September 17, 2018, with its capital structure primarily comprising ordinary shares; as of the announcement date, 1,445,450,000 ordinary shares were issued - The Company's shares were listed on GEM of The Stock Exchange of Hong Kong Limited on September 17, 2018, and there have been no changes in the Group's capital structure since then, with share capital comprising only ordinary shares[65](index=65&type=chunk) - As of the date of this announcement, after the completion of the placement of new shares on May 30, 2025, the number of issued ordinary shares was **1,445,450,000**[65](index=65&type=chunk) [Commitments, Material Investments and Contingent Liabilities](index=33&type=section&id=Commitments%2C%20Material%20Investments%20and%20Contingent%20Liabilities) As of March 31, 2025, the Group had no capital commitments, material investment plans, or significant contingent liabilities - As of March 31, 2025, the Group had no capital commitments (March 31, 2024: nil)[66](index=66&type=chunk) - As of March 31, 2025, the Group had no plans involving material investments and capital assets[67](index=67&type=chunk) - As of March 31, 2025, the Group had no significant contingent liabilities (March 31, 2024: nil)[69](index=69&type=chunk) [Exposure to Fluctuations in Exchange Rates](index=34&type=section&id=Exposure%20to%20Fluctuations%20in%20Exchange%20Rates) The Group's business primarily transacts in HKD, and bank balances are denominated in HKD, leading directors to believe that foreign exchange exposure is minimal, with no hedging contracts in place - The Group's revenue-generating business primarily transacts in **Hong Kong Dollars**, and bank balances are mainly denominated in **Hong Kong Dollars**; the Directors believe that foreign exchange exposure has a minimal impact on the Group, and no forward foreign exchange contracts or other hedging instruments for exchange rate fluctuations have been entered into[70](index=70&type=chunk) [Pledge of the Group's Assets](index=34&type=section&id=Pledge%20of%20the%20Group%27s%20Assets) As of March 31, 2025, the Group's bank facilities were secured by **HKD 2.1 million** in bank deposits and a corporate guarantee from the Company - As of March 31, 2025, the Company and its subsidiaries were granted general banking facilities secured by bank deposits of **HKD 2.1 million** and a corporate guarantee from the Company[71](index=71&type=chunk) [Events After the Reporting Period](index=34&type=section&id=Events%20After%20the%20Reporting%20Period) Subsequent to the reporting period, the Company completed a placement of new shares on May 30, 2025, issuing 63,450,000 new shares with net proceeds of approximately **HKD 2.4 million** - On May 30, 2025, the Company completed a placement of new shares under general mandate, issuing **63,450,000 shares** at **HKD 0.039 per share**, with net proceeds of approximately **HKD 2.4 million**[73](index=73&type=chunk) [Segment Information](index=35&type=section&id=Segment%20Information) The Group's segment information is comprehensively disclosed in Note 4 to the consolidated financial statements - The Group's segment information is disclosed in Note 4 to the consolidated financial statements[74](index=74&type=chunk) [Employees and Remuneration Policy](index=35&type=section&id=Employees%20and%20Remuneration%20Policy) As of March 31, 2025, the Group employed 161 individuals, with total staff costs of approximately **HKD 75.5 million**; remuneration policy is determined by market trends, operating results, and individual performance - As of March 31, 2025, the Group employed a total of **161 employees** (March 31, 2024: 164 employees)[75](index=75&type=chunk) - For the year ended March 31, 2025, the Group's staff costs (including directors' emoluments) were approximately **HKD 75.5 million**[75](index=75&type=chunk) - Remuneration is primarily determined by reference to market trends, the Group's operating results, and individual employees' performance, qualifications, and experience[75](index=75&type=chunk) [Use of Proceeds](index=36&type=section&id=Use%20of%20Proceeds) The Company has fully utilized the IPO net proceeds; net proceeds from three share placements, totaling **HKD 19.9 million**, **HKD 17.0 million**, and **HKD 2.4 million**, were primarily allocated to general working capital, new business development (including F&B, catering, entertainment, medical beauty, and IT), and engineering consulting services - The net proceeds of approximately **HKD 26.9 million** received by the Company from the share offer have been fully utilized[76](index=76&type=chunk) - Net proceeds from three placements of new shares amounted to approximately **HKD 19.9 million** (first), **HKD 17.0 million** (second), and **HKD 2.4 million** (third), respectively[76](index=76&type=chunk) - Proceeds from the first placement were used for general working capital and developing new businesses (food and beverage, catering, entertainment, and medical beauty); the second placement's proceeds were for general working capital and developing food and beverage and IT business segments; the third placement's proceeds are planned for general working capital, business development and equipment supply for engineering consulting services, and expansion and improvement of the IT business department, with a portion yet to be utilized[77](index=77&type=chunk) [Key Risks and Uncertainties](index=37&type=section&id=Key%20Risks%20and%20Uncertainties) The Group faces various risks, including reliance on professional personnel, deviations in project cost estimates, potential non-payment of service fees, and credit risk associated with trade receivables - The Group's business operations are highly dependent on professional personnel, especially the management team[78](index=78&type=chunk) - Estimated time and costs involved in projects may deviate from actual time and costs, leading to risks in tender price determination[78](index=78&type=chunk) - Service fees may not be fully paid if client projects are not completed as scheduled; the Group is exposed to credit risk from trade receivables and may face increased outstanding balances and longer trade receivable turnover days[82](index=82&type=chunk) [Other Information](index=38&type=section&id=Other%20Information) This section covers additional disclosures regarding the Company's governance, securities, and post-reporting events [Purchase, Sale or Redemption of the Company's Listed Securities](index=38&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the year, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - During the year, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[80](index=80&type=chunk) [Compliance with Corporate Governance Code](index=38&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) The Company has complied with the Corporate Governance Code, with a deviation from code provision C.1.7 regarding not purchasing appropriate insurance for directors' potential legal actions, as the Board considers the Company's business and financial position stable with robust internal control systems - The Company has complied with the Corporate Governance Code, except for a deviation from code provision C.1.7 regarding not arranging insurance for directors' liabilities, as the Board considers the Company's current industry, business, and financial position to be relatively stable, and a robust internal control system has been established[81](index=81&type=chunk) [Audit Committee and Auditor's Scope of Work](index=39&type=section&id=Audit%20Committee%20and%20Auditor%27s%20Scope%20of%20Work) The Audit Committee has reviewed the Group's annual results, and the auditor, Evergreen (Hong Kong) CPA Limited, confirmed the preliminary results announcement data aligns with the draft consolidated financial statements, though their work was limited and not an audit or review - The Audit Committee has reviewed the Group's annual results for the year ended March 31, 2025, with the Company's management and external auditor[83](index=83&type=chunk) - The Company's auditor, Evergreen (Hong Kong) CPA Limited, has confirmed that the data in the preliminary results announcement for the year ended March 31, 2025, is consistent with the amounts in the Group's draft consolidated financial statements for the year, but their work was limited and does not constitute an audit, review, or other assurance engagement[84](index=84&type=chunk) [Change of Company Name and Stock Short Name](index=39&type=section&id=Change%20of%20Company%20Name%20and%20Stock%20Short%20Name) The Company officially changed its English name to "NIU Holdings Limited" and will change its stock short name effective August 7, 2025, while the stock code remains unchanged; the name change will not affect shareholders' rights or daily operations - The Company's English name has been changed from "King Of Catering (Global) Holdings Ltd." to "**NIU Holdings Limited**", and the dual foreign Chinese name is no longer used, effective June 19, 2025[85](index=85&type=chunk) - The English stock short name will change from "KINGOFCATER" to "**NIU HOLDINGS**", and the Chinese stock short name will change from "飲食天王（環球）" to "**NIU HOLDINGS**", effective from 9:00 a.m. on August 7, 2025, while the stock code remains "**8619**"[86](index=86&type=chunk) - The change of company name will not affect any rights of shareholders or the Company's daily business operations or its financial position[87](index=87&type=chunk) [Resumption of Trading and Revised Share Consolidation Timetable](index=40&type=section&id=Resumption%20of%20Trading%20and%20Revised%20Share%20Consolidation%20Timetable) The Company has applied to the Stock Exchange for the resumption of share trading on August 1, 2025, and has revised the share consolidation timetable - The Company has applied to The Stock Exchange for the resumption of trading in the Company's shares from 9:00 a.m. on Friday, August 1, 2025[89](index=89&type=chunk) - As the Company's shares have been suspended from trading on The Stock Exchange from 9:00 a.m. on Tuesday, July 1, 2025, the timetable for the share consolidation has been revised[89](index=89&type=chunk) [Board of Directors](index=42&type=section&id=Board%20of%20Directors) As of the announcement date, the Board of Directors includes executive directors Mr. Tsang Wing Ki, Mr. Man Kwok Hing, Ms. Leung Suet Yiu, and Mr. Leung Chun Yu; non-executive directors Mr. Yuen Chi Ping and Mr. Takeda Masahiro; and independent non-executive directors Ms. Siu Yuk Ming, Ms. Lung Wing Yee, and Mr. Leung Man Chun - As of the date of this announcement, the Board of Directors comprises executive directors Mr. Tsang Wing Ki, Mr. Man Kwok Hing, Ms. Leung Suet Yiu, and Mr. Leung Chun Yu; non-executive directors Mr. Yuen Chi Ping and Mr. Takeda Masahiro; and independent non-executive directors Ms. Siu Yuk Ming, Ms. Lung Wing Yee, and Mr. Leung Man Chun[92](index=92&type=chunk)

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 59,455,000, an increase of 15.5% compared to HKD 51,445,000 for the same period in 2023[7] - Gross profit decreased to HKD 4,516,000, down 73.9% from HKD 17,325,000 year-on-year[7] - The company reported a profit before tax of HKD 19,292,000, compared to a loss of HKD 4,381,000 in the previous year[7] - Net profit for the period was HKD 19,247,000, a significant recovery from a loss of HKD 4,858,000 in the same period last year[7] - Basic and diluted earnings per share for the period were HKD 1.44, compared to a loss per share of HKD 0.42 in the prior year[9] - The profit attributable to the company's owners for the period was HKD 19,247 thousand, a significant recovery from a loss of HKD 4,858 thousand in the previous year[49] - The basic and diluted earnings per share were HKD 1.44, compared to a loss per share of HKD 0.42 in the prior year[49] - The company recorded a profit of approximately HKD 19.2 million for the period, compared to a loss of approximately HKD 4.9 million for the six months ended September 30, 2023, primarily due to the fair value gain on financial assets[85] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 155,000,000, up from HKD 119,621,000 as of March 31, 2024[11] - Cash and cash equivalents at the end of the period decreased to HKD 28,111,000 from HKD 40,323,000 at the beginning of the period[19] - Trade receivables, net of expected credit loss provisions, amounted to HKD 47,197 thousand as of September 30, 2024, up from HKD 36,568 thousand as of March 31, 2024[56] - The group reported trade payables of HKD 9,070 thousand as of September 30, 2024, compared to HKD 8,571 thousand as of March 31, 2024[59] Employee Costs - Total employee costs for the six months ended September 30, 2024, amounted to HKD 48,241,000, a significant increase of 43.6% from HKD 33,576,000 in the previous year[37] - The total number of employees increased from 160 to 172, with total employee costs (including director remuneration) amounting to approximately HKD 48.2 million for the six months ended September 30, 2024, compared to approximately HKD 33.6 million for the same period in 2023[98] - The total employee costs allocated to service costs amounted to HKD 40,658,000, reflecting a 37.3% increase from HKD 29,608,000 in the previous year[37] Revenue Breakdown - Revenue from new property construction accounted for HKD 50,831,000, representing 85.6% of total revenue, while revenue from renovation and maintenance of existing properties was HKD 5,157,000[28] - The group's revenue for the six months ended September 30, 2024, was HKD 59,455,000, an increase of 15.5% compared to HKD 51,445,000 for the same period in 2023[28] - The company's revenue increased by HKD 8.1 million or approximately 15.6% to about HKD 59.5 million for the six months ended September 30, 2024, compared to HKD 51.4 million for the same period in 2023[73] Expenses - General and administrative expenses increased from approximately HKD 12.6 million to approximately HKD 21.7 million, an increase of HKD 9.0 million or 71.5%[82] - Service costs increased from approximately HKD 34.1 million for the six months ended September 30, 2023, to approximately HKD 54.9 million for the six months ended September 30, 2024, representing an increase of HKD 20.8 million or about 61.0%[77] - Other income and gains or losses decreased from approximately HKD 3.2 million to approximately HKD 2.4 million, a reduction of HKD 0.8 million or about 25.4% due to decreased interest income from bank deposits[79] Taxation - The group did not incur any income tax expenses in China or Macau due to estimated tax losses for the six months ended September 30, 2024[44][45] - The income tax expense decreased from approximately HKD 477 million to approximately HKD 45 million, a reduction of HKD 432 million due to the net effect of current and deferred tax items[84] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[120] - The audit committee, established on August 27, 2018, consists of four independent non-executive directors and has reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2024[126] - There are no known business or interest conflicts involving directors or major shareholders as of September 30, 2024[118] Future Plans - The company plans to continue exploring market expansion opportunities and new product development strategies[6] - The group aims to expand its market share by securing more engineering consultancy service contracts despite a challenging business environment[74] - The company continues to seek opportunities to expand the types of consultancy services offered to existing clients[74] Shareholder Information - The company has a total of 1,382,000,000 shares issued as of September 30, 2024[109] - Wan Nian Real Estate Development Co., Ltd. holds 208,072,000 shares, representing approximately 15.06% of the company's total issued share capital[113] - Dr. Chen and Mr. Kwong own approximately 68.2% and 31.8% of Wan Nian Real Estate Development Co., Ltd., respectively[115] - The weighted average number of ordinary shares issued increased to 1,334,459 thousand from 1,152,000 thousand in the previous year[49] Dividends and Share Options - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[48] - The board does not recommend the payment of an interim dividend for the six months ending September 30, 2024[123] - No share options were granted during the six months ending September 30, 2024, and there were no unexercised share options as of that date[124] Financial Reporting - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2024, with no significant impact on the financial performance reported[30] - The group has a single operating segment, focusing on comprehensive structural and geotechnical engineering consulting services[33] - The group’s financial statements were prepared in accordance with the historical cost convention and have not been audited by independent auditors[25]

Financial Performance - The company reported revenue of HKD 59,455,000 for the six months ended September 30, 2024, representing an increase of 15.5% compared to HKD 51,445,000 in the same period of 2023[11] - Gross profit decreased to HKD 4,516,000, down 73.9% from HKD 17,325,000 year-on-year, indicating challenges in cost management[11] - The company achieved a profit before tax of HKD 19,292,000, a significant recovery from a loss of HKD 4,381,000 in the previous year[11] - The net profit for the period was HKD 19,247,000, compared to a loss of HKD 4,858,000 in the same period last year, marking a turnaround in performance[11] - The total comprehensive income for the six months ended September 30, 2024, was HKD 19,247,000, compared to a total comprehensive loss of HKD 4,858,000 in the same period of 2023[20] - The company reported a profit attributable to shareholders of HKD 19,247,000 for the six months ended September 30, 2024, compared to a loss of HKD 4,858,000 in the same period of 2023[53] - The company reported a profit of approximately HKD 19.2 million for the period, a significant turnaround from a loss of about HKD 4.9 million for the same period in 2023[89] Assets and Equity - Total assets increased to HKD 155,000,000 as of September 30, 2024, up from HKD 119,621,000 as of March 31, 2024[15] - The company's net asset value rose to HKD 153,043,000, compared to HKD 115,796,000 at the end of the previous fiscal year[15] - As of April 1, 2024, the total equity was HKD 115,796,000, an increase from HKD 91,956,000 as of April 1, 2023, representing a growth of approximately 26%[20] Earnings Per Share - Basic and diluted earnings per share improved to HKD 1.44, compared to a loss per share of HKD 0.42 in the prior year[13] - Basic and diluted earnings per share for the period were HKD 1.44, a significant improvement from a loss of HKD 0.42 per share in the prior year[53] Cash Flow and Financing - Cash and cash equivalents decreased by HKD 12,212,000 during the six months ended September 30, 2024, compared to a decrease of HKD 4,434,000 in the same period of 2023[23] - Operating cash flow for the six months ended September 30, 2024, was a net outflow of HKD 28,126,000, compared to a net outflow of HKD 4,090,000 in the same period of 2023[23] - The company’s financing costs increased slightly to HKD 204,000 from HKD 176,000, indicating a rise in borrowing costs[11] - As of September 30, 2024, the company had no borrowings, reflecting a strong financial position[91] Employee Costs - Employee costs totaled HKD 48,241,000 for the six months ended September 30, 2024, an increase from HKD 33,576,000 in 2023, reflecting a rise of approximately 43.6%[41] - Employee costs for the six months ended September 30, 2024, amounted to approximately HKD 48.2 million, compared to approximately HKD 33.6 million for the same period in 2023, reflecting a year-on-year increase of 43.4%[102] Revenue Streams - The company reported other income of HKD 953,000, down from HKD 1,246,000 in the previous year, reflecting a decline in ancillary revenue streams[11] - Revenue from customer contracts for the six months ended September 30, 2024, was HKD 59,455,000, up from HKD 51,445,000 in 2023, indicating a growth of approximately 15.6%[32] - The company's revenue increased by approximately HKD 8.1 million or about 15.6% to approximately HKD 59.5 million for the six months ended September 30, 2024, compared to HKD 51.4 million for the same period in 2023[80] Expenses - Service costs rose by HKD 20.8 million or approximately 61.0% to about HKD 54.9 million for the six months ended September 30, 2024, primarily due to increased director remuneration and employee costs[81] - General and administrative expenses increased by approximately HKD 9.0 million or 71.5% to about HKD 21.7 million, driven by higher employee costs and legal and professional fees[86] Share Capital and Dividends - The company raised HKD 18,000,000 through the issuance of new shares during the reporting period[20] - The board does not recommend the payment of an interim dividend for the six months ending September 30, 2024[127] - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[52] Corporate Governance - The company has maintained compliance with the corporate governance code as per GEM Listing Rules, with no significant deviations noted[124] - The company continues to review its corporate governance practices to enhance standards and meet increasing regulatory requirements[124] - The company has established a robust internal control system, which has led to the decision not to purchase insurance for directors' liabilities at this time[124] Other Information - The company operates primarily in Hong Kong, with nearly all external revenue generated from services provided within the region[38] - The company has not disclosed any new product developments, market expansions, or mergers and acquisitions during the reporting period[101] - There were no significant events related to the company's business or financial performance that required the board's attention after the reporting period[101] - The audit committee, established on August 27, 2018, consists of four independent non-executive directors and has reviewed and approved the unaudited condensed consolidated financial statements for the six months ending September 30, 2024[130]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million for the fiscal year, representing a YY% growth compared to the previous year[12]. - User data showed a growth in active users, reaching ZZ million, which is an increase of AA% year-over-year[12]. - The company provided guidance for the next fiscal year, projecting revenue growth of BB% and aiming for a total revenue of $CC million[12]. - The company reported a comprehensive financial statement for the year ending March 31, 2024[170]. Product Development and Innovation - New product launches included the introduction of a state-of-the-art catering service, expected to contribute an additional $DD million in revenue[12]. - The company is investing in new technology development, with a budget allocation of $EE million for R&D initiatives aimed at enhancing service efficiency[12]. Market Expansion and Strategy - Market expansion plans include entering the Asian market, targeting a market share increase of FF% within the next two years[12]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the food service sector[12]. Sustainability and Environmental Impact - A new sustainability strategy was announced, aiming to reduce operational carbon footprint by GG% over the next five years[12]. - The total greenhouse gas emissions for the year ending March 31, 2024, amounted to 121.52 tons of CO2 equivalent, an increase from 115.56 tons in the previous year[105]. - Energy indirect greenhouse gas emissions (Scope 2) were reported at 104.79 tons of CO2 equivalent, up from 100.16 tons in the previous year, indicating a 6.6% increase[105]. - Indirect greenhouse gas emissions (Scope 3) rose to 16.73 tons of CO2 equivalent from 15.40 tons, reflecting an increase of 8.7%[105]. - The greenhouse gas emissions density per employee decreased to 0.74 tons of CO2 equivalent from 0.79 tons, showing a reduction of 6.3%[105]. - The company aims to reduce total greenhouse gas emissions density by the fiscal year ending March 31, 2026, using the fiscal year 2023 as a baseline[104]. - The company has implemented energy-saving measures and paper-saving initiatives to reduce greenhouse gas emissions during operations[104]. - The company has set a target to reduce the total density of non-hazardous waste by 2026, using 2023 as the baseline[140]. - The company implements a waste management strategy based on the "Reduce, Reuse, and Recycle" (3Rs) principle to minimize environmental impact[140]. - The group is committed to sustainable business practices and has implemented measures to minimize its environmental impact, including the use of second-hand office furniture and recycled paper[196]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, ensuring compliance with all relevant regulations and guidelines[12]. - The company has appointed three independent non-executive directors, one of whom possesses appropriate accounting and financial management qualifications, in compliance with GEM Listing Rules[57]. - The company held two remuneration committee meetings for the year ending March 31, 2024, with attendance records documented[66]. - The audit committee is responsible for reviewing the company's financial statements and monitoring internal control procedures[61]. - The company has established anti-money laundering and anti-terrorism financing policies to ensure compliance with regulatory requirements[69]. - There were no concluded corruption lawsuits against the group or its employees in 2024, and no significant violations of bribery, extortion, fraud, or money laundering laws were found[68]. - The board of directors ensures that all members can dedicate sufficient time and effort to the company's affairs[52]. - The board has established three committees: audit committee, remuneration committee, and nomination committee to oversee specific areas of the company's affairs[60]. - The company has adopted a code of conduct for directors' securities trading, which is in line with GEM Listing Rules[73]. - The nomination committee is committed to finding candidates with excellent records and the ability to represent the best interests of all shareholders[79]. - The audit committee is composed of three independent non-executive directors, ensuring compliance with GEM listing rules[91]. - The company has established a nomination committee to review the board's structure and recommend changes to align with corporate strategy[98]. - The remuneration committee has outlined the compensation details for senior management, excluding directors, for the fiscal year ending March 31, 2024[96]. - The remuneration committee held four meetings during the fiscal year ending March 31, 2024, with all members present at each meeting[118]. - The nomination committee also conducted one meeting during the same period, ensuring proper governance and oversight of board member appointments[121]. - The board of directors is responsible for overseeing the internal control systems to protect shareholder interests and manage risks effectively[125]. - The company has established an internal control system to achieve operational efficiency, reliability of financial reporting, and compliance with applicable laws and regulations[142]. - The company has appointed an independent internal control consultant to evaluate the effectiveness of its risk management and internal control systems as of March 31, 2023[154]. - The board emphasized the importance of maintaining high transparency to enhance investor relations[166]. - The risk management and internal control systems were deemed sufficient and effective to protect shareholder interests[177]. - The company adopted a three-tier risk management approach to identify, analyze, assess, mitigate, and respond to risks[178]. - The board encourages shareholders to attend meetings and directly ask questions regarding any concerns[167]. - The company has implemented effective communication policies with shareholders, ensuring timely disclosure of business performance and strategies[188]. - The external auditor's fees for statutory audit and non-audit services were disclosed, including fees for reviewing interim and quarterly results[181]. - The company’s communication policy with shareholders was effectively implemented as of the year ending March 31, 2024[189]. - The company has not recommended the payment of a final dividend for the year ending March 31, 2024, consistent with the previous year[198]. - As of March 31, 2024, the group has not experienced any significant non-compliance issues that materially affect its business operations[195]. - The group faces potential professional liability risks and credit risks related to trade receivables, which may increase in the future[194]. - The company emphasizes maintaining good relationships with customers and aims to provide inspiring, value-for-money, and high-quality designs[197]. - The group’s main business nature has not undergone significant changes as of March 31, 2024[192]. - The board of directors has confirmed that all major shareholders have complied with non-competition commitments for the year ending March 31, 2024[193]. - The annual general meeting is scheduled for September 13, 2024, with a suspension of share transfer registration from September 10 to September 13, 2024[198]. - The group’s major subsidiaries and their business activities are detailed in the consolidated financial statements[192].

Financial Performance - The company reported revenue of HKD 100,981,000 for the year ended March 31, 2024, representing a 15.5% increase from HKD 86,904,000 in the previous year[7]. - Gross profit for the same period was HKD 33,314,000, up from HKD 24,512,000, indicating a significant improvement in profitability[7]. - The net profit attributable to the owners of the company was HKD 3,718,000, compared to HKD 1,871,000 in the prior year, reflecting a 98.4% increase[7]. - Basic and diluted earnings per share increased to HKD 0.32 from HKD 0.16, showing improved earnings performance[8]. - The profit for the year increased from HKD 1,871 million in 2022 to HKD 3,718 million in 2023, representing a growth of about 98%[26]. - The profit attributable to the company's owners for the year ended March 31, 2024, was HKD 3,718,000, representing a significant increase of 98.5% from HKD 1,871,000 in 2023[80]. - The group recorded a profit of approximately HKD 3.7 million for the year ended March 31, 2024, compared to a profit of approximately HKD 1.9 million for the year ended March 31, 2023, primarily due to fair value changes of financial assets amounting to approximately HKD 18.3 million[118]. Revenue and Growth - Revenue for the year ended March 31, 2024, was HKD 100,981,000, an increase of 16.5% from HKD 86,284,000 for the year ended March 31, 2023[43]. - Revenue from new property construction was HKD 79,593,000, up 17.6% from HKD 67,647,000 year-on-year[43]. - Expected revenue to be recognized within one year is HKD 57,981,000, a decrease of 11.5% from HKD 65,227,000 in the previous year[46]. - Total expected revenue to be recognized in the future is HKD 107,105,000, down 33.3% from HKD 160,669,000 year-on-year[46]. - The group's revenue increased by approximately 16.2% from about HKD 86.9 million for the year ended March 31, 2023, to about HKD 101.0 million for the year ended March 31, 2024[109]. Expenses and Costs - Administrative expenses rose to HKD 40,018,000 from HKD 22,082,000, indicating increased operational costs[7]. - Employee costs totaled HKD 78,215,000, an increase of 30.6% from HKD 59,833,000 in the previous year[54]. - General and administrative expenses increased by approximately 81.0% from approximately HKD 22.1 million for the year ended March 31, 2023, to approximately HKD 40.0 million for the year ended March 31, 2024[143]. - Service costs increased by approximately 8.5% from about HKD 62.4 million for the year ended March 31, 2023, to about HKD 67.7 million for the year ended March 31, 2024[111]. Assets and Liabilities - Non-current assets decreased from HKD 4,481 million in 2023 to HKD 3,592 million in 2024, representing a decline of approximately 19.9%[25]. - Current assets increased from HKD 107,505 million in 2023 to HKD 116,377 million in 2024, reflecting a growth of about 8.2%[25]. - Net current assets rose from HKD 68,389 million in 2023 to HKD 81,017 million in 2024, an increase of approximately 18.4%[25]. - Total assets less current liabilities increased from HKD 98,691 million in 2023 to HKD 119,621 million in 2024, marking a growth of around 21.2%[25]. - The company's equity attributable to owners increased from HKD 91,956 million in 2023 to HKD 115,796 million in 2024, a rise of approximately 26%[26]. - The group had no borrowings as of March 31, 2024, indicating a strong financial position with sufficient liquidity to meet funding needs[120]. Share Placements and Financing - The company completed a placement of 80,000,000 shares at HKD 0.2521 per share, raising approximately HKD 19,920,000 for business development and general working capital[10]. - The company raised HKD 20,168 million through a placement of new shares, net of transaction costs[26]. - The group completed a placement of new shares on May 29, 2024, issuing 150,000,000 shares at HKD 0.12 per share, raising approximately HKD 17.0 million after expenses[156]. - Approximately HKD 8.0 million has been fully utilized for general working capital from the first placement, with about HKD 11.9 million remaining for developing new businesses in various profitable sectors[161]. - Approximately HKD 3.0 million has been fully utilized for general working capital from the second placement, with about HKD 14.0 million allocated for developing food and beverage and IT business segments[184]. Taxation and Compliance - The company did not recognize any taxable profits for the year ended March 31, 2024, thus no provision for Hong Kong profits tax was necessary[56]. - The group generated tax expenses of approximately HKD 0.1 million for the year ended March 31, 2024, down from HKD 1.7 million for the year ended March 31, 2023, due to a decrease in taxable profits[145]. - As of March 31, 2024, the total amount of unutilized tax losses available to offset future profits was approximately HKD 6,564,000, up from HKD 4,599,000 in 2023[79]. Strategic Developments - The company changed its name from "WAC Holdings Limited" to "King Of Catering (Global) Holdings Ltd." effective January 15, 2024[29]. - The company plans to develop a multifunctional platform named C-PON under a licensing agreement with KOC Japan Inc., with a licensing fee of HKD 100,000 and a profit share of 10%[107]. - The group aims to diversify its services by providing equipment leasing services at construction sites and has rebranded to "Food King (Global) Holdings Limited" to reflect its expansion into new business segments including food and beverage and information technology[136]. - The management believes that increased potential land supply for residential and commercial development will drive growth in the construction consulting industry in Hong Kong[110]. - The company aims to secure more consulting engineering service contracts to strengthen its market position and expand its market share[110]. Other Financial Metrics - The group reported interest income of HKD 1,254,000 for the year ended March 31, 2024, compared to HKD 417,000 in 2023, indicating a significant increase of 200%[73]. - The expected credit loss provision for trade receivables was HKD 9.3 million as of March 31, 2024, up from HKD 6.8 million as of March 31, 2023[102]. - The current ratio improved from approximately 2.7 times as of March 31, 2023, to 3.3 times as of March 31, 2024, mainly due to an increase in contract liabilities[148]. - The group has no significant capital commitments or contingent liabilities as of March 31, 2024, indicating a stable financial outlook[124]. - The group has incurred employee costs of approximately HKD 11.0 million for newly hired senior engineers and interns in structural engineering projects as of March 31, 2024[187].

Financial Performance - Revenue for the three months ended September 30, 2023, was HKD 25,259,000, a slight increase of 0.8% compared to HKD 25,058,000 in the same period of 2022[9] - Gross profit decreased to HKD 7,795,000, down 28.5% from HKD 10,878,000 year-on-year[9] - The company reported a net loss of HKD 6,041,000 for the period, compared to a profit of HKD 2,198,000 in the same period last year[9] - Other income for the three months was HKD 833,000, down 63.2% from HKD 2,260,000 in the previous year[9] - The total comprehensive loss attributable to owners of the company was HKD 6,022,000, compared to a profit of HKD 2,351,000 in the previous year[9] - Total revenue for the six months ended September 30, 2023, was HKD 51,445,000, an increase of 13.5% compared to HKD 45,472,000 for the same period in 2022[33] - The company recorded a loss attributable to owners of the company of HKD 4.858 million for the six months ended September 30, 2023, compared to a profit of HKD 2.268 million for the same period in 2022[71] - The group recorded a loss of approximately HKD 4.9 million for the six months ended September 30, 2023, compared to a profit of approximately HKD 2.3 million for the same period in 2022, mainly due to losses from the disposal of an associate[117] Assets and Liabilities - The financial position as of September 30, 2023, showed total assets of HKD 87,309,000, a decrease from HKD 92,469,000 as of March 31, 2023[12] - The total assets less current liabilities amounted to HKD 93,217,000, a decrease from HKD 98,691,000 as of March 31, 2023[25] - The company's equity attributable to owners was HKD 87,309,000, down from HKD 91,956,000 as of March 31, 2023[25] - Cash and cash equivalents at the end of the reporting period were HKD 36,730,000, down from HKD 41,164,000 at the beginning of the period[51] - Trade receivables as of September 30, 2023, amounted to HKD 48.828 million, an increase from HKD 39.523 million as of March 31, 2023[73] Employee Costs - Employee costs totaled HKD 33,576,000 for the six months ended September 30, 2023, compared to HKD 29,262,000 for the same period in 2022, reflecting an increase of 15.5%[39] - The company’s employee costs increased from HKD 24.631 million for the six months ended September 30, 2022, to HKD 26.518 million for the same period in 2023[64] - Employee costs for the six months ended September 30, 2023, were approximately HKD 33.6 million, up from approximately HKD 29.3 million for the same period in 2022[126] - The company hired 23 new engineering staff and interns to handle new projects in structural engineering, resulting in employee costs of approximately HKD 11.0 million as of September 30, 2023[164] - The company has expanded its civil engineering team by hiring 20 new engineering staff, incurring employee costs of approximately HKD 7.9 million as of September 30, 2023[164] Business Strategy and Operations - The company plans to focus on market expansion and new product development in the upcoming quarters[9] - The company is focused on expanding its consulting services to existing clients and is seeking to increase the variety of services offered[84] - The company aims to secure more engineering consulting service contracts to expand its market share despite a challenging business environment[84] - The company is exploring business opportunities through acquisitions or investments in the construction and property development sectors[169] Governance and Compliance - The audit committee has reviewed and approved the unaudited consolidated financial statements for the six months ending September 30, 2023[183] - The company has complied with the applicable corporate governance code provisions as of September 30, 2023, with ongoing reviews to enhance governance standards[194] - There have been no violations of the securities trading regulations by the directors during the six months ended September 30, 2023[195] Dividends and Share Capital - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2023, consistent with the previous year[70] - The company’s authorized share capital is HKD 15,000,000, divided into 1,500,000,000 shares with a par value of HKD 0.01 each, with 1,152,000,000 shares issued[139] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending September 30, 2023[193] Other Financial Information - The company did not recognize any tax provision for the six months ended September 30, 2023, due to estimated tax losses in its subsidiaries registered in China[42] - The group’s income tax expense decreased from approximately HKD 0.8 million for the six months ended September 30, 2022, to approximately HKD 0.5 million for the same period in 2023[116] - The financing costs for the six months ended September 30, 2023, were approximately HKD 0.2 million, compared to HKD 0.1 million for the same period in 2022[115] - The group has no borrowings as of September 30, 2023, indicating a strong financial position with sufficient liquidity to meet funding needs[119] - The group maintains a prudent treasury policy and closely monitors its liquidity position to manage cash flow risks[120] - The group has no significant contingent liabilities as of September 30, 2023[123]