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]