Audit and Governance - The Audit Committee reviewed the annual financial results for the year ended March 31, 2023[21]. - The Audit Committee held two meetings during the year to review financial results and compliance procedures[31]. - The Audit Committee includes members with appropriate professional qualifications and expertise in financial management[6]. - The Company ensures that the roles of chairman and chief executive are separate to maintain governance standards[1]. - The Nomination Committee held one meeting during the year to assess the Board's structure and diversity[18]. - The Nomination Committee is responsible for identifying suitable candidates for directors and senior management[23]. - The Company emphasizes the importance of Board diversity for enhancing performance and has adopted a Board diversity policy[26]. - The Company has a director nomination policy to ensure a balanced mix of skills and experience on the Board[34]. - The Company has made recommendations for the appointment and reappointment of directors based on merit and contribution[33]. Financial Performance - The Group recorded a significant loss for the year attributable to shareholders due to challenges in collecting receivables from clients who faced bankruptcy or deregistration[62]. - The turnover for the fiscal year ending March 31, 2023, was impacted by severe economic conditions, particularly before the gradual reopening of borders between China and Hong Kong[62]. - The financial results highlight a net loss before tax and non-controlling interests, reflecting the challenging business landscape[68]. - For the year ended 31 March 2023, the Group's turnover was approximately HK504.7million,representingadecreaseof41.2858.5 million last year[71]. - The net loss attributable to owners of the Company for the year ended 31 March 2023 was approximately HK333.8million,asignificantincreasefromHK6.3 million last year[71]. - The impairment loss on trade and other receivables amounted to approximately HK198.9million,whileimpairmentlossesonloansandinterestreceivablesandcontractassetswereapproximatelyHK59.6 million and HK9.3million,respectively[71].EconomicOutlookandStrategy−TheGroupiscautiouslyoptimisticabouteconomicrecoveryinChinaandHongKong,whilealsoacknowledginguncertaintiesintheglobalmacroenvironment,includingmilitaryconflictsandinflationarypressures[61].−Realestate−relatedservices,acorebusinessoftheGroup,areexpectedtogrowsteadilyasChina′srealestatepoliciestendtorelaxdemandrestrictions[61].−TheGroupaimstostrengthenitscustomerbaseanddiversifyitsproductandserviceofferingsaspartofitsmainoperatingstrategy[61].−TheGroupisassessingthedevelopmentdirectionofitsfinancialbusinessestobalanceriskseffectively[61].−Themanagementisfocusedonstabilizingexistingbusinesseswhileseekingnewstructuraladjustmentsanddevelopmentopportunities[61].−TheGroupaimstocontroloperationalriskswhileexploringnewopportunitiestocontributetolong−termbusinessdevelopmentandshareholderbenefits[76].BusinessSegmentPerformance−TheturnoveroftheGroup′sfinanceleasingbusinesswasapproximatelyHK0.5 million for the year ended 31 March 2023, down from approximately HK2.3millionin2022[82].−TheturnoveroftheGroup′smoneylendingbusinessdecreasedtoapproximatelyHK7.9 million in 2023 from approximately HK23.8millionin2022,withanimpairmentlossonloansandinterestreceivablesofapproximatelyHK59.6 million recorded[86]. - The securities and futures brokerage business generated a turnover of approximately HK0.3millionin2023,slightlydownfromapproximatelyHK0.4 million in 2022, with an impairment loss on goodwill of approximately HK12.2millionrecognized[87].−TheGroupincurredacorrespondingsegmentlossofapproximatelyHK55.4 million in the money lending business for the year ended 31 March 2023, compared to a loss of approximately HK3.8millionin2022[86].−TheGroup′stradingbusinessturnoverdecreasedtoapproximatelyHK111.5 million for the year ended 31 March 2023, down 67.7% from approximately HK345.6millionin2022,withagrossprofitofapproximatelyHK1.6 million compared to HK5.1millionin2022[92].−ThefreightforwardingbusinessturnoverincreasedtoapproximatelyHK1.8 million for the year ended 31 March 2023, up 50% from approximately HK1.2millionin2022,withagrossprofitofapproximatelyHK0.6 million[95]. - The Group's property brokerage business generated turnover of approximately HK0.8millionfortheyearended31March2023,comparedtonilin2022,withagrosslossofapproximatelyHK0.2 million[112]. - The turnover of the Group's customised technical support business increased to approximately HK34.6millionfortheyearended31March2023,up66.320.8 million in 2022, with a segment profit of approximately HK13.3million[117].AssetandCapitalManagement−TheGroup′stotalassetsdecreasedtoapproximatelyHK1,894.2 million as of 31 March 2023, down from HK2,340.9millionin2022[97].−TheGroup′snetcurrentassetsdecreasedtoapproximatelyHK138.2 million as of 31 March 2023, down from HK448.4millionin2022[97].−TheGroup′sinvestmentpropertieshadafairvalueofapproximatelyHK121.4 million as of 31 March 2023, down from approximately HK129.0millionin2022[111].−TheGroup′sbankbalancesandcashasof31March2023wereapproximatelyHK50.1 million, an increase from approximately HK46.0millionin2022,withacurrentratioof1.14comparedto1.42inthepreviousyear[163].−Thegearingratioasof31March2023wasapproximately0.23,slightlyupfromapproximately0.20in2022,withtotalborrowingsandadvancepaymentsamountingtoapproximatelyHK431.4 million compared to approximately HK473.5millionin2022[164].−TheGroupincurredapproximatelyHK45.1 million in capital expenditure during the year ended 31 March 2023, significantly higher than approximately HK13.9millionin2022,primarilyforplantandequipmentinthePRC[167].FuturePlansandOpportunities−TheGroupplanstoenterthenewretailmarketbyleveragingadvancedtechnologiessuchasbigdataandartificialintelligence[76].−TheGroupplanstoexpanditsbusinessintothenewretailfield,leveragingitsexperienceinbigdataanddigital−relatedbusinessesdevelopedoverthepastfewyears[159].−TheGroupaimstoactivelyexploreopportunitiesininternationaltradeofcommoditiesandfrozenfoods,aswellaspotentialcollaborationsinthelogisticssector[160].−TheGroupisassessingitsexistingprincipalbusinessesandexploringopportunitiesininternationaltradeandcommodities[144].−TheGroupintendstosuspenditssecuritiesinvestmentbusinessduetothecurrentmacroenvironmentandwillcarefullyconsiderfutureinvestmentopportunities[144].−TheGroupplanstoexplorenewstructuraladjustmentsanddevelopmentopportunitiestoenhanceprofitabilityandsustainableoperations,particularlyinthegeothermalenergysectorbyexpandingtootherregionsinChina[144].Miscellaneous−TherewerenomaterialacquisitionsordisposalsfortheyearendedMarch31,2023[173].−ApproximatelyHK11 million from the rights issue completed on July 14, 2021, remained unused and is intended for settling unpaid investment sums to Tiandi Youdamei[174]. - The Group did not conduct any fundraising activities related to the issuance of equity securities during the year ended March 31, 2023[189]. - The Group is negotiating with the other shareholder of Tiandi Youdamei for a possible disposal of its shareholding due to lower than expected synergy effects from the investment[190].