Revenue and Profitability - Revenue for the fiscal year ended March 31, 2023, increased by approximately 3.1% to about HKD 1,623,600,000, compared to HKD 1,574,300,000 for the fiscal year ended March 31, 2022[2] - Profit attributable to owners of the company for the fiscal year 2023 was approximately HKD 53,500,000, an increase of about 37.9% compared to HKD 38,800,000 in the fiscal year 2022[2] - Adjusted profit attributable to owners, excluding non-recurring government subsidies, was approximately HKD 31,800,000, a decrease of about 18.0% from HKD 38,800,000 in the previous fiscal year[2] - Total comprehensive income for the year was HKD 57,365,000, compared to HKD 60,855,000 in the previous year[5] - The company reported a pre-tax profit of HKD 53,501, an increase from HKD 38,751 in the previous year, resulting in earnings per share of HKD 5.35 compared to HKD 3.88[30] Gross Profit and Margins - Gross profit margin decreased from approximately 20.5% in the fiscal year 2022 to about 13.6% in the fiscal year 2023, primarily due to a decline in e-commerce gross profit from approximately HKD 284,800,000 to HKD 170,800,000[2] - Gross profit for fiscal year 2023 was approximately HKD 221.2 million, with a gross margin of about 13.6%, down from 20.5% in fiscal year 2022[45] Dividends - The company did not recommend the payment of a final dividend for the fiscal year 2023[2] - The company did not declare any dividends during the year, consistent with the previous year[30] - The board does not recommend the payment of a final dividend for the year ended March 31, 2023[57] Assets and Liabilities - Non-current assets increased from HKD 4,644,000 to HKD 4,779,000, with property and equipment rising from HKD 2,227,000 to HKD 2,957,000[6] - Trade receivables increased significantly from HKD 96,952,000 to HKD 174,562,000, indicating improved collection or sales[6] - Current liabilities rose from HKD 170,682,000 to HKD 254,966,000, reflecting increased trade payables and bank borrowings[6] - The company's net asset value increased from HKD 403,552,000 to HKD 455,240,000, indicating a stronger financial position[7] - Total assets for the construction segment increased to HKD 601,724,000 from HKD 469,093,000 year-over-year, while e-commerce segment assets decreased to HKD 33,066,000 from HKD 73,197,000[17] - The total liabilities for the construction segment rose to HKD 221,538,000 from HKD 126,794,000, and the e-commerce segment liabilities decreased to HKD 32,204,000 from HKD 43,908,000[17] Segment Performance - For the fiscal year ending March 31, 2023, the reported segment revenue was HKD 1,623,573,000, with construction business revenue at HKD 1,373,748,000 and e-commerce business revenue at HKD 249,825,000[16] - The profit before tax for the construction segment was HKD 60,753,000, while the e-commerce segment reported a profit before tax of HKD 22,938,000, leading to a total profit before tax of HKD 74,432,000[16] - The construction business remains the primary revenue driver, while the e-commerce business is still in its growth phase, having launched operations in China during the previous fiscal year[14] Financial Reporting and Standards - The company applied the revised Hong Kong Financial Reporting Standards for the first time in the fiscal year ending March 31, 2023, but it did not have a significant impact on the financial statements[12] - The company is currently evaluating the potential impact of new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[13] Cash Flow and Financing - As of March 31, 2023, the group held approximately HKD 318,800,000 in cash and cash equivalents, compared to approximately HKD 217,900,000 as of March 31, 2022[49] - The net financing income decreased to HKD 442 from HKD 900 in the previous year, primarily due to increased bank borrowing costs[26] - The net proceeds from the listing amounted to approximately HKD 97,000,000, fully utilized for project funding, general working capital, and labor expansion[50][51] Employee and Operational Metrics - The group had 605 employees as of March 31, 2023, down from 1,026 employees in 2022[52] - The average credit period for trade procurement remained between 15 to 60 days, consistent with the previous year[36] Customer Concentration - The company had three customers contributing over 10% of total revenue, with Customer A generating HKD 413,632, Customer B HKD 368,556, and Customer C HKD 175,947[20] Other Income and Expenses - Other income rose significantly to approximately HKD 22.1 million in fiscal year 2023, compared to HKD 1.9 million in the previous year, mainly due to increased government subsidies[45] - The total tax expense for the year was HKD 12,567, down from HKD 19,952 in the previous year, reflecting lower taxable income[27] Strategic Outlook - The group anticipates a recovery in e-commerce business following the end of the COVID-19 pandemic[55] - The company continues to assess its strategic decisions based on the performance of its operating segments, with a focus on resource allocation and profitability evaluation[15] Miscellaneous - The company has no significant contingent liabilities as of March 31, 2023, and believes insurance coverage will cover any potential claims from ongoing litigation[41] - The group has no significant contingent liabilities or major acquisitions during the fiscal year 2023[54] - The preliminary announcement of the group's consolidated financial statements for the year ended March 31, 2023, has been verified to be consistent with the audited financial statements[61] - The annual performance announcement is available on the company's website and the Hong Kong Stock Exchange website[62] - The board expresses gratitude to the management, employees, shareholders, and business partners for their support throughout the year[63]

Financial Performance - The Group's unaudited consolidated revenue for the six months ended 30 September 2022 was approximately HK$776.0 million, an increase from approximately HK$755.4 million in the corresponding period of 2021[26]. - The construction business contributed approximately HK$642.4 million to the revenue, up from approximately HK$532.1 million in the same period of 2021, with 34 projects on hand as of 30 September 2022[26]. - The E-Commerce business generated revenue of approximately HK$133.6 million, a decrease from approximately HK$223.3 million in the corresponding period of 2021[26]. - The gross profit for the Period was approximately HK$121.1 million, compared to approximately HK$73.2 million in the same period of 2021[26]. - The gross profit margin improved to approximately 15.6%, up from approximately 9.7% in 2021, indicating a healthier financial position[26]. - Profit attributable to the owners of the Company decreased to approximately HK$27.1 million, representing a decrease of 13.7% from approximately HK$31.4 million in the previous year[28]. - Total comprehensive income for the period was HK$23,662,000, down from HK$46,177,000, marking a decrease of approximately 48.8%[86]. - Basic earnings per share for the six months ended 30 September 2022 was 2.71 HK cents, down from 3.14 HK cents in the same period of 2021, reflecting a decline of approximately 13.7%[145]. E-Commerce Business - The Group offers over 500 types of products through its E-Commerce business, focusing on high-quality and diversified offerings[24]. - The E-Commerce business has been strategically positioned as a brand retailer in private E-Commerce platforms, collaborating with three platforms[23]. - The Group has been engaged in E-Commerce since March 2021, holding a 51% equity interest in CK Baiyin, a company incorporated in China[23]. - The Group plans to further expand technical platforms, increase product types, and enhance smart services to capture a larger market share in the E-Commerce business in China[31]. - E-Commerce business revenue decreased to HK$133,597,000 from HK$223,339,000, indicating a decline of approximately 40.2%[114]. Construction Business - Five new projects with an aggregate contract value of approximately HK$328.1 million were awarded to the Group during the Period[22]. - As of 30 September 2022, there were 34 ongoing projects with an outstanding contract sum of approximately HK$1,274.9 million[22]. - Revenue from construction business, including formwork services and other construction services, was HK$642,409,000, up from HK$532,110,000, reflecting a growth of about 20.7%[114]. - The reportable segment profit before tax for the construction business was HK$30,105,000[121]. - The Group's construction business primarily serves customers in Hong Kong[118]. Expenses and Costs - Selling and administrative expenses increased by HK$77.6 million to approximately HK$91.6 million, compared to approximately HK$14 million in the corresponding period last year, mainly due to increased director's emoluments and selling commission expenses for the E-Commerce business[29][30]. - Staff costs increased to HK$112,387,000 from HK$104,124,000, representing an increase of approximately 8% year-over-year[137]. Assets and Liabilities - Total assets as of September 30, 2022, increased to HK$598,574,000 from HK$575,452,000 as of March 31, 2022, representing a growth of approximately 4.9%[88]. - Trade receivables decreased to HK$75,549,000, down 22.0% from HK$96,952,000 as of March 31, 2022[88]. - Contract assets increased significantly to HK$269,610,000, up 20.5% from HK$223,788,000 as of March 31, 2022[88]. - Current liabilities decreased slightly to HK$169,042,000 from HK$170,682,000, indicating a reduction of approximately 1.0%[90]. - Total debts, including lease liabilities and bank borrowings, increased to approximately HK$38.5 million as of September 30, 2022, from approximately HK$16.8 million as of March 31, 2022[44]. Corporate Governance - The company complied with all applicable provisions of the Corporate Governance Code except for the separation of roles between chairman and chief executive[69]. - The company recognizes the importance of maintaining high standards of corporate governance to protect shareholder interests[66]. - The company has adopted the Model Code for Securities Transactions by Directors, ensuring compliance among all directors during the reporting period[71]. Cash Flow - Cash and cash equivalents were approximately HK$189.2 million as of September 30, 2022, down from approximately HK$217.9 million as of March 31, 2022[43]. - Net cash used in operating activities for the six months ended 30 September 2022 was HK$31,827,000, compared to HK$13,594,000 in the same period of 2021, indicating a significant increase in cash outflow[95]. - Net cash used in investing activities was HK$16,131,000 for the six months ended 30 September 2022, compared to HK$2,078,000 in the previous year, reflecting increased investment expenditures[95]. - Net cash generated from financing activities was HK$19,424,000 for the six months ended 30 September 2022, a substantial recovery from a net cash outflow of HK$822,000 in the same period of 2021[95]. Shareholder Information - Mr. Lo holds a total interest of 546,750,000 shares, representing approximately 54.6% of the company[57]. - Mrs. Lo, as the spouse of Mr. Lo, is deemed to have an interest in all shares held by Mr. Lo, totaling 546,750,000 shares or 54.6%[58]. - Magnificent Faith, wholly owned by Mr. Lo, holds 546,750,000 ordinary shares, equating to 54.6% of the company[62]. - CT Vision Strategic Company Limited, beneficially owned by Dr. Ho, holds 140,310,000 ordinary shares, representing 14.0% of the company[62]. Miscellaneous - There were no significant investments, material acquisitions, or disposals of subsidiaries and affiliated companies during the six months ended September 30, 2022[50]. - The company did not recommend the payment of a dividend for the six months ended 30 September 2022, consistent with the previous year[173]. - The Group did not have any significant contingent liabilities as of 30 September 2022, and ongoing litigations are expected to be covered by insurance[176].

Contracts and Revenue - In FY 2022, Chi Kan Holdings Limited was awarded 16 new contracts with an aggregate contract sum of approximately HK$1,112.0 million[24]. - As of March 31, 2022, the company had a total of 32 contracts on hand, an increase from 28 contracts as of March 31, 2021[24]. - The amount of contract sum yet to be recognized as of March 31, 2022, was approximately HK$1,376.1 million, slightly down from HK$1,381.6 million as of March 31, 2021[24]. - The Group's consolidated revenue for FY2022 was approximately HK$1,574.3 million, a significant increase from approximately HK$826.2 million in FY2021, primarily driven by construction projects and E-Commerce revenue[32]. - The construction business contributed approximately HK$1,133.2 million to the revenue, with 32 projects on hand as of March 31, 2022, compared to 28 projects in FY2021[32]. - E-Commerce business generated approximately HK$441.2 million in revenue during FY2022, reflecting the Group's strategic positioning in private E-Commerce platforms[32]. E-Commerce Business - The company has been engaged in E-Commerce business since March 2021, cooperating with over 40 suppliers and offering 500 types of products[25]. - The company aims to achieve sustainable and rapid development in its online retail business by providing high-quality and diversified products[25]. - The Group has engaged with over 40 suppliers and brand merchants, offering over 500 types of products in its E-Commerce business, focusing on high-quality and diversified offerings[31]. - The Group holds a 51% equity interest in CK Baiyin, which operates in the E-Commerce sector, enhancing its market presence in the PRC[30]. - The Group plans to expand technical platforms and increase product types to enhance its market share in the E-Commerce business in China[60]. Financial Performance - Gross profit for FY2022 was approximately HK$322.4 million, with a gross profit margin of approximately 20.5%, up from 7.3% in FY2021, indicating improved profitability[32]. - Selling and administrative expenses increased significantly to approximately HK$245.8 million in FY2022, up from approximately HK$26.9 million in FY2021, mainly due to higher operating expenses in the E-Commerce segment[35]. - Profit attributable to the owners of the Company decreased to approximately HK$38.8 million, representing a decline of 9.4% from approximately HK$42.8 million in the previous year[35]. - The adjusted profit for the year, excluding non-recurring expenses, was approximately HK$38.8 million, an increase of about 6.0% compared to approximately HK$36.3 million in FY2021[35]. Challenges and Risks - The COVID-19 pandemic has posed unprecedented challenges, but the company remains hopeful for economic recovery due to vaccine developments[27]. - The outbreak of COVID-19 in Hong Kong may significantly and adversely impact the Group's business operation and financial performance due to unfavorable economic conditions and decreased purchasing power[38]. - Health safety risks during COVID-19 may lead to labor shortages, increased wages, and interruptions in business operations, delaying project progress[38]. - The Group's revenue is non-recurring, and failure to secure new projects would materially and adversely affect its business, results of operations, financial position, and future prospects[36]. - There is no assurance that the Group will be able to retain major customers or secure new projects, which could adversely affect its financial performance[36]. Management and Governance - The management team is stable and experienced, contributing to high-quality work and customer satisfaction[45]. - The Group's management team includes professionals with extensive experience in their respective fields, enhancing operational effectiveness[72]. - The Company is focused on strategic planning and business development, with oversight of daily operations by the executive team[64]. - The board includes a mix of executive and independent non-executive directors, enhancing governance and oversight[66]. - The Company has adopted the Corporate Governance Code and complied with all applicable provisions except for the separation of the roles of chairman and chief executive[119]. Environmental, Social, and Governance (ESG) - The Group is committed to quantifying and disclosing key performance indicators within environmental and social categories[173]. - The Group emphasizes the importance of sustainability as a critical element for maintaining its leading position in the industry and positively contributing to community development[175]. - The Group prioritizes community involvement and social responsibilities as part of its corporate strategy[181]. - The Group aims to improve its environmental practices continually through employee training and operational measures[190]. - The Group's ESG performance and corporate governance details are available on its website for stakeholder feedback[183]. Shareholder Relations - The annual shareholders' meetings serve as the primary forum for communication between the Company and its shareholders[165]. - The Company encourages shareholders to participate in general meetings and appoint proxies to attend[163]. - The Group's annual general meeting serves as a platform for reporting overall business performance to investors[176]. - The Company has established written guidelines for relevant employees regarding their dealings in the securities of the Company, with no incidents of non-compliance noted since the Listing[120]. Financial Position and Liquidity - The Group's liquidity position is closely monitored by directors and senior management to meet funding needs[50]. - The Group's cash inflows mainly comprise progress payments from customers, which are paid after the works have commenced and the value is confirmed[39]. - The Group expects to fund future cash flow needs through internally generated cash flows from operations and bank facilities[55]. - The Group's capital structure consisted of equity of approximately HK$403.6 million and debts of approximately HK$16.8 million as at 31 March 2022[55]. - The Group's cash flow management is prudent, with no material outstanding debts as at 31 March 2022, except for certain debts including lease liabilities and bank borrowings[55].

Project Awards and Ongoing Projects - For the six months ended September 30, 2021, the Group was awarded 4 new projects with a total contract value of approximately HK$327.4 million[20] - As of September 30, 2021, there were 28 ongoing projects with an outstanding contract sum of approximately HK$1,176.9 million[20] - Four projects were completed during the reporting period[20] E-Commerce Business - The Group has engaged in E-Commerce business since March 2021 through CK Baiyin, in which it holds a 51% equity interest[21] - The E-Commerce business offers over 500 types of products, including selenium-rich agricultural products, nutritional supplements, daily necessities, and cosmetic products[22] - The Group has cooperated with over 40 suppliers and brand merchants to provide high-quality and diversified products[22] - The Group is strategically positioned as a brand retailer in private E-Commerce platforms, cooperating with three such platforms[21] - The Group's E-Commerce income is generated from retailing on private platforms[21] - The Group's E-Commerce business generated approximately HK$223.3 million in revenue during the Period[24] - The Group plans to further expand technical platforms and increase product types in the E-Commerce sector to enhance market share in the PRC[26] Financial Performance - The Group's unaudited consolidated revenue for the Period was approximately HK$755.4 million, a 82.2% increase from approximately HK$414.5 million in the corresponding period of 2020[24] - Gross profit for the Period amounted to approximately HK$73.2 million, with a gross profit margin of approximately 9.7%, compared to 8.4% in 2020[24] - Profit attributable to the owners of the Company increased to approximately HK$31.4 million, representing a 48.8% increase from approximately HK$21.1 million in the corresponding period of last year[24] - The Group's adjusted profit for the six months ended 30 September 2021 was approximately HK$31.4 million, compared to approximately HK$24.2 million in the corresponding period of 2020[24] - Revenue for the six months ended 30 September 2021 was HK$755,449,000, an increase of 82.2% compared to HK$414,549,000 for the same period in 2020[71] - Gross profit for the same period was HK$73,214,000, representing a gross margin of 9.7%[72] - Operating profit increased to HK$59,117,000, up 128.5% from HK$25,839,000 in the previous year[72] - Profit for the period was HK$45,356,000, compared to HK$21,069,000 for the same period in 2020, marking a 115.5% increase[72] - Basic and diluted earnings per share attributable to owners of the Company for the period was HK$3.14, up from HK$2.58[72] - Total comprehensive income for the period was HK$46,177,000, significantly higher than HK$21,069,000 in the prior year[74] Financial Position and Ratios - As of 30 September 2021, the Group had 1,197 employees, offering competitive remuneration packages based on market rates and employee performance[31] - The Group's current ratio decreased to 4.0 times from 4.2 times as of 31 March 2021 due to an increase in trade payables[34] - The gearing ratio slightly decreased from 3.0% as of 31 March 2021 to 2.9% as of 30 September 2021, indicating stable financial leverage during the period[34] - The Group had cash and cash equivalents of approximately HK$181.2 million as of 30 September 2021, down from approximately HK$196.8 million as of 31 March 2021[35] - The capital structure consisted of equity of approximately HK$405.2 million and debts of approximately HK$11.9 million as of 30 September 2021[36] - Total assets increased to HK$539,658,000 as of September 30, 2021, compared to HK$471,239,000 as of March 31, 2021, representing a growth of 14.5%[76] - Total liabilities amounted to HK$134,471,000, an increase of 19.8% from HK$112,229,000 as of March 31, 2021[78] Cash Flow and Investments - For the six months ended September 30, 2021, the net cash used in operating activities was HK$13,594,000, compared to a net cash generated of HK$30,723,000 in the same period of 2020[83] - The net cash used in investing activities was HK$2,078,000, while in the previous year, it generated HK$2,000[83] - The net cash used in financing activities amounted to HK$822,000, a significant decrease from HK$120,603,000 generated in the same period last year[83] - Cash and cash equivalents at the end of the period were HK$181,196,000, a decrease from HK$184,638,000 at the end of the previous period[83] Corporate Governance and Compliance - The company complied with all applicable provisions of the Corporate Governance Code up to September 30, 2021, except for one stated deviation[58] - The Company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all Directors during the reporting period[62] - The company’s financial report for the six months ended September 30, 2021, was reviewed by the Audit Committee with no disagreements noted[178] Share Capital and Management - Mr. Lo holds 558,750,000 shares, representing 55.9% of the total issued share capital of Magnificent Faith[50] - Mrs. Lo is deemed to be interested in all shares held by Mr. Lo, also amounting to 558,750,000 shares or 55.9%[54] - CT Vision Strategic Company Limited holds 158,310,000 shares, accounting for 15.8% of the company's total shares[54] - The total number of issued shares increased to 1,000,000,000 upon completion of a share offer on August 14, 2020, raising gross proceeds of HK$130,000,000[171] - Key management compensation for the six months ended September 30, 2021, amounted to HK$1,967,000, an increase from HK$1,344,000 in the same period of 2020[177] Taxation and Liabilities - Current income tax expense for the six months ended September 30, 2021, was HK$14,373,000, significantly higher than HK$4,765,000 in the same period of 2020[132] - The provision for Corporate Income Tax in the PRC is calculated at 25%, with no overseas profits tax calculated for entities incorporated in the British Virgin Islands or the Cayman Islands due to tax exemptions[133] - The company reported no significant contingent liabilities as of September 30, 2021, and believes ongoing litigations will not materially affect the consolidated financial statements[173]

Company Listing and Financial Performance - The company successfully listed on the Main Board of The Stock Exchange of Hong Kong on August 14, 2020, issuing 1,000 million shares and raising approximately HK$97.0 million in net proceeds[12]. - Revenue for FY 2021 was approximately HK$826.2 million, representing a 20.5% increase from approximately HK$685.9 million in FY 2020[21]. - The gross profit for FY 2021 was approximately HK$60.7 million, with a gross profit margin of 7.3%, down from 10.7% in FY 2020[21]. - Profit for FY 2021 increased to approximately HK$42.7 million, a 7.8% rise compared to approximately HK$39.6 million in FY 2020[21]. - The company aims to improve its financial performance, projecting a revenue growth of 10% for the upcoming fiscal year[62]. Contracts and Project Management - In FY 2021, the company was awarded 16 new contracts with an aggregate contract sum of approximately HK$1,008.5 million, increasing the total contracts on hand to 28 as of March 31, 2021[15]. - The amount of contract sum yet to be recognized as of March 31, 2021, was approximately HK$1,381.6 million, compared to approximately HK$1,064.9 million as of March 31, 2020[15]. - The company completed two existing projects during FY 2021, while 28 projects were ongoing as of March 31, 2021[19]. - The Group's ability to discharge contractual obligations may be affected by delays or suspensions of projects due to COVID-19, leading to material adverse impacts on financial performance[28]. Market Position and Strategic Initiatives - The company remains confident in its market position despite increasing competition, maintaining a focus on profit margins to safeguard shareholder interests[15]. - The company is exploring suitable merger and acquisition opportunities to enhance its capabilities for larger projects in the future[12]. - The company is focusing on expanding its market presence, particularly in the construction sector, aiming for a 20% growth in project acquisitions over the next fiscal year[56]. - The company plans to pursue strategic acquisitions to bolster its service offerings, targeting a 25% increase in service capacity through mergers and acquisitions[58]. Risks and Challenges - The recent COVID-19 outbreak in Hong Kong may significantly impact business operations and financial performance due to unfavorable economic conditions and decreased purchasing power[28]. - Health safety risks during the COVID-19 outbreak could lead to labor shortages, increased wages, and interruptions in business operations, delaying project progress[28]. - The Group faces significant risks if it cannot diversify its customer base or secure new projects to offset potential revenue losses from major customers[23]. - The Group cannot guarantee that it will be invited to participate in new project tenders or that the terms of new contracts will be comparable to existing ones[26]. Customer and Supplier Relationships - The company maintains a significant reliance on its five largest customers, which poses a risk to its revenue stability[22]. - The major revenue source comes from five largest customers, with a significant reliance on the largest customer, which poses a risk to business operations and financial performance if relationships are not maintained[24]. - The five largest customers accounted for approximately 83.5% of the total revenue, with the largest customer contributing about 49.1%[81]. Governance and Management - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[53]. - The independent non-executive directors bring over 40 years of combined experience in the surveying and property market, enhancing the company's governance[60]. - The Company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all directors during the year[105]. - The Board is responsible for overseeing the management, business strategies, and financial performance of the Group to ensure good corporate governance practices[114]. Environmental, Social, and Governance (ESG) Commitment - The Group is committed to environmental protection and sustainable development through green practices in its business activities[35]. - The Group's mission includes minimizing environmental impact and complying with applicable environmental laws and regulations[187]. - The Group is committed to quantifying and disclosing key performance indicators and data related to environmental and social aspects[181]. - The Group engages with stakeholders through various channels, including annual general meetings and regular meetings with suppliers[185]. Financial Position and Liquidity - As of March 31, 2021, the Group had cash and cash equivalents of approximately HK$196.8 million, compared to approximately HK$33.3 million as of March 31, 2020[43]. - The Group's liquidity position is closely monitored by the Directors and senior management to meet funding needs[36]. - The Group's current ratio decreased from 4.3 times as of March 31, 2020, to 4.2 times as of March 31, 2021, primarily due to an increase in trade payables[39]. - The Group's capital structure consisted of approximately HK$359.0 million in equity and approximately HK$10.7 million in debts (lease liabilities and bank borrowings) as of March 31, 2021[43]. Employee and Workforce Development - As of March 31, 2021, the Group had 830 employees, an increase from 704 in 2020, reflecting a growth in workforce[46]. - The management team is committed to enhancing shareholder value through strategic initiatives and operational improvements[59]. - The Group's management team includes professionals with extensive experience in their respective fields, enhancing operational effectiveness[67].

Financial Performance - For the six months ended September 30, 2020, the Group's unaudited consolidated revenue was approximately HK$414.5 million, an increase of 35.6% from HK$305.7 million in the corresponding period of 2019[12] - The Group's gross profit for the same period was approximately HK$35.0 million, with a gross profit margin of approximately 8.4%, down from 10.5% in 2019[12] - Profit for the period increased to approximately HK$21.1 million, representing a 61.1% increase compared to approximately HK$13.1 million in the corresponding period of 2019[13] - Adjusted profit for the six months ended September 30, 2020, was approximately HK$24.2 million, compared to HK$23.1 million in the same period of 2019[15] - Revenue for the six months ended September 30, 2020, was HK$414,549,000, an increase of 35.6% compared to HK$305,698,000 for the same period in 2019[64] - Gross profit for the same period was HK$34,969,000, up 8.7% from HK$32,129,000 in 2019[64] - Operating profit increased to HK$25,839,000, representing a 47.0% rise from HK$17,597,000 in the previous year[64] - Profit for the period was HK$21,069,000, a significant increase of 61.5% compared to HK$13,070,000 in 2019[64] - Basic and diluted earnings per share rose to 2.58 HK cents, up from 1.84 HK cents in the prior year[64] Contracts and Revenue Recognition - As of September 30, 2020, the Group had 33 contracts on hand, up from 26 contracts as of March 31, 2020[9] - The outstanding revenue to be recognized as of September 30, 2020, amounted to approximately HK$1,323.0 million, compared to HK$1,064.9 million as of March 31, 2020[9] - Contract revenue for the six months ended September 30, 2020, was HK$414,549,000, a significant increase of 35.6% compared to HK$305,698,000 in the same period of 2019[94] - Formwork services contributed HK$384,957,000 to contract revenue, up from HK$303,065,000, reflecting a growth of 27.0% year-over-year[94] - Other construction services revenue surged to HK$29,592,000 from HK$2,633,000, marking an increase of 1,025.5%[94] Expenses and Liabilities - General and administrative expenses for the period increased to approximately HK$15.1 million, compared to approximately HK$14.5 million in the corresponding period of the previous year[13] - Current liabilities rose to HK$73,186,000 as of September 30, 2020, compared to HK$58,778,000 as of March 31, 2020, indicating an increase of about 24.5%[68] - Total liabilities as of September 30, 2020, amounted to HK$73,669,000, an increase from HK$59,670,000 as of March 31, 2020, marking a rise of about 23.5%[68] - Lease liabilities decreased from HK$675,000 as of March 31, 2020, to HK$483,000 as of September 30, 2020, showing a reduction of approximately 28.4%[68] Cash and Financial Position - Cash and bank balances as of September 30, 2020, were approximately HK$184.6 million, significantly up from HK$33.3 million as of March 31, 2020[24] - The current ratio improved to 5.5 times as of September 30, 2020, compared to 4.3 times as of March 31, 2020[27] - Cash and cash equivalents increased significantly to HK$184,638,000 from HK$33,310,000, reflecting a growth of 453.0%[66] - Total assets as of September 30, 2020, amounted to HK$406,827,000, compared to HK$252,338,000 as of March 31, 2020, indicating a growth of 60.9%[66] - The Group's equity was approximately HK$333.2 million, with debts (lease liabilities) of approximately HK$1.0 million as of September 30, 2020[29] Corporate Governance and Management - The company has complied with all applicable provisions of the Corporate Governance Code except for the separation of roles between chairman and chief executive[49] - The company recognizes the importance of maintaining high standards of corporate governance to protect shareholder interests[49] - The company will continue to review its management structure as business grows to assess the need for a chief executive officer[49] - The Group's chief operating decision-maker assesses performance based on profit after income tax, integrating all businesses into a single operating segment[91] Share Capital and Ownership - Mr. Lo holds a total interest of 558,750,000 shares, representing approximately 55.9% of the issued share capital of Magnificent Faith Limited[39] - Mrs. Lo, as the spouse of Mr. Lo, is deemed to be interested in all shares held by Mr. Lo, totaling 558,750,000 shares, which is about 55.9%[39] - CT Vision Investment Limited holds 191,250,000 shares, accounting for approximately 19.1% of the company's ordinary shares[43] - The company issued 250,000,000 ordinary shares at HK$0.52 per share, raising total gross proceeds of HK$130,000,000, which increased the total number of issued shares to 1,000,000,000[136] Impact of COVID-19 - The COVID-19 outbreak has not significantly impacted the Group's financial performance for the six months ended September 30, 2020, but potential long-term effects remain uncertain[14] Other Information - The Group had no significant investments, material acquisitions, or disposals of subsidiaries during the six months ended September 30, 2020[32] - The Group had no capital commitments as of September 30, 2020[32] - The Group had no significant exposure to foreign currency risk, as most transactions were denominated in Hong Kong dollars and Renminbi[30] - The Group's banking facilities amounted to HK$60.0 million, with HK$60 million remaining unused as of September 30, 2020[29]