香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 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 公 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。 LFG Investment Holdings Limited LFG 投資控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3938） 截 至2025年3月31日止年度之年度業績公告 LFG投 資 控 股 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至2025年3月31日 止 年 度（「財政年度」）之 經 審 核 綜 合 年 度 業 績，連 同 截 至2024年3月31日 止 年 度 之 比 較 數 字 如 下： 財務表現摘要 | 截 | 至3月31日止年度 | 2025年 | 2024年 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

Financial Performance - Total revenue for the fiscal year ending March 31, 2025, decreased by 13% to HKD 803,700,000[38] - Shareholders' loss amounted to HKD 35,700,000 after recognizing a non-cash impairment of investment properties of HKD 5,200,000[38] - The previous fiscal year's results included a one-time gain from property sales of HKD 122,100,000, offset by non-cash impairments of HKD 11,800,000 and a write-down of deferred tax assets of HKD 21,100,000[38] - Excluding non-cash impairments and one-time items, the company's performance improved by HKD 4,500,000 compared to the previous fiscal year due to effective cost control measures[38] - The group recorded revenue of HKD 803,732,000 for the fiscal year ending March 31, 2025, a decrease of 13% compared to HKD 923,894,000 in the previous year[75] - The gross profit was HKD 336,701,000, down 9% from HKD 371,987,000, with a gross margin of 41.9%, an increase from 40.3%[75] - The group reported a net loss attributable to shareholders of HKD 35,689,000, compared to a profit of HKD 54,222,000 in the previous year, marking a 166% decline[75] - Financing income increased by 28% to HKD 15,204,000 from HKD 11,891,000 in the previous year[75] - The group reported an impairment loss of HKD 5,200,000 on investment properties, reflecting a decrease in their recoverable amount[82] - The actual tax rate for the fiscal year was -9.0%, down from 35.5% in the previous year, mainly due to one-time tax asset write-offs and capital gains from property sales[84] - The company reported a loss of HKD 35,689,000 for the year ending April 1, 2024, compared to a profit of HKD 54,222,000 in the previous year, marking a significant decline[160] Market Conditions - The local property market remained sluggish throughout the fiscal year, with prices across various property types declining[38] - The uncertain economic outlook due to global trade tensions and high trade policy uncertainty is expected to slow global growth and increase financial volatility[40] - The local property market faces significant downward pressure amid cautious market sentiment due to unclear economic prospects[40] - The group faced significant challenges in the local economy, with a slowdown in growth and weak performance in the property and retail markets[76] - The competitive landscape remains intense in the banking and online brokerage sectors, with ongoing closures and mergers among small and medium-sized securities firms in Hong Kong[39] Business Strategy and Operations - The company aims to diversify its business strategy to achieve sustainable growth and provide optimal returns to shareholders[15] - The group operates in multiple core business areas, including media, finance, real estate, and quality living[15] - The group continues to enhance its digital business and improve reading platforms to meet changing reader demands[29] - Two-thirds of the group's revenue comes from digital platforms and information and software businesses, indicating significant success in the digitalization strategy[39] - The group successfully captured multiple digital solution projects in the financial sector, including banking, securities brokerage, wealth management, and insurance, leveraging AI and digitalization trends[39] - The group plans to integrate AI applications to enhance consumer interaction, content quality, and operational efficiency, focusing on advanced data analytics and cloud computing[91] - The group is closely monitoring global and local economic and political changes to manage costs and operational efficiency amid a challenging business environment[92] - The group has committed to sustainable operations, emphasizing employee welfare, quality products, and environmental performance[96] Corporate Governance - The board consists of seven members, with three independent non-executive directors, accounting for over one-third of the board[52] - The company adheres to the corporate governance code as per the Hong Kong Stock Exchange Listing Rules[51] - The board is committed to maintaining high standards of corporate governance and ensuring the best interests of shareholders[51] - The company has established service contracts with all executive, non-executive, and independent non-executive directors[53] - The board composition reflects a diverse range of skills and experiences relevant to the company's business needs[53] - The company has adopted a board diversity policy, considering factors such as gender, age, culture, and professional experience to achieve diversity among board members[55] - The board held a total of four meetings during the fiscal year ending March 31, 2025, with all directors actively participating[60] - The Audit Committee conducted two meetings during the fiscal year, reviewing the annual report and financial statements for the year ending March 31, 2025[62] - The Remuneration Committee held two meetings during the fiscal year, reviewing and approving the remuneration and discretionary bonuses for executive directors and senior management[63] - The Nomination Committee held one meeting during the fiscal year, providing recommendations on the reappointment of directors eligible for re-election at the annual general meeting[64] - All independent non-executive directors confirmed their independence in accordance with the listing rules, ensuring the board's integrity[57] - The company encourages continuous professional development for all directors to enhance their knowledge and skills[58] - The board is composed of experienced individuals, with a significant number of non-executive directors ensuring a balanced distribution of power and authority[54] - The company’s governance practices include comprehensive onboarding for new directors to ensure they understand their responsibilities and obligations[58] - The company believes it has complied with the corporate governance code, except for the dual role of the Chairman and CEO held by Mr. Feng Shaobo[122] Financial Position - The group has a cash balance of approximately HKD 459.8 million as of March 31, 2025, maintaining a strong financial position with no debt[40] - As of March 31, 2025, net current assets decreased to HKD 410,400,000 from HKD 483,700,000, primarily due to reduced operating performance[88] - As of March 31, 2025, the group had no debt, with a total interest-bearing debt to total assets ratio of 0%[89] - The cash balance as of March 31, 2025, was approximately HKD 459.8 million, down from HKD 526.5 million as of March 31, 2024[89] - The group maintains a sustainable dividend policy, with an interim dividend of HKD 0.03 per share totaling HKD 12.948 million and a proposed final dividend of HKD 0.05 per share totaling HKD 21.58 million[99] - The group's distributable reserves as of March 31, 2025, were HKD 198.652 million, an increase from HKD 190.777 million in 2024[103] - The company reported a net cash position of HKD 251,157,000, an increase from HKD 212,049,000 in 2024[153] - The company generated a net cash inflow from investing activities of HKD 108,247,000 for the year ending March 31, 2025, compared to HKD 53,417,000 in the previous year, indicating a substantial increase of approximately 102.5%[161] Audit and Compliance - The financial statements have been audited by PwC, which is willing to be reappointed as the company's auditor[123] - The company must assess its ability to continue as a going concern and disclose relevant matters if applicable[139] - The auditor's report does not cover other information included in the annual report, which is the responsibility of the company's directors[137] - The audit identified key audit matters related to the impairment provisions for trade receivables due to the high level of estimation uncertainty and subjectivity involved[135] - The company is responsible for preparing financial statements that are free from material misstatement due to fraud or error, and for maintaining internal controls[139] - The auditor's responsibility is to obtain reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error[142] - The audit procedures included evaluating management's internal controls related to credit monitoring and assessing the adequacy of the impairment provisions[133] Shareholder Information - The company plans to hold at least four board meetings annually, approximately once per quarter[60] - The group distributed a total of HKD 43,200,000 in dividends for the fiscal year ending March 31, 2024[88] - As of March 31, 2025, the company has a total of 54,359,000 shares held by Mr. Feng Shaobo, representing 12.595% of the issued shares[110] - Mr. Zhu Yulun holds 87,435,000 shares through Sky Vision Investments Limited, accounting for 20.258% of the issued shares[111] - The major shareholders include Sky Vision Investments Limited with 20.258%, Guangzhengxin Yan Charity Foundation Limited with 13.478%, and Golden Rooster Limited with 12.595% of the issued shares[115] - The company maintains a sufficient public float, with over 25% of the issued shares held by the public[121] - The company has not entered into any management or administrative contracts affecting its overall or major business operations during the year[117]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公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。 Precision Tsugami (China) Corporation Limited 津 上 精 密 機 床（中 國 ）有 限 公 司 （於開曼群島註冊成立的有限公司） | | | 截至三月三十一日止年度 | | | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | | | 附註 | 人民幣千元 | 人民幣千元 | | 收入 | 4 | 4,261,557 | 3,119,674 | | 銷售成本 | | (2,851,124) | (2,224,135) | | 毛利 | | 1,410,433 | 895,539 | | 其他收入及收益 | 4 | 80,384 | 85,268 | | 銷售及分銷開支 | | (189,947) | (155,851) | | 管理費用 | | (152,629) | (113,856) | | 金融資產減值損失淨額 ...

Financial Performance - For the fiscal year ending March 31, 2025, the total revenue of Yidu Tech Inc. was RMB 714.979 million, a decrease of 11.4% compared to RMB 807.076 million in the previous fiscal year[6]. - The gross profit for the same period was RMB 239.182 million, reflecting a decline of 29.5% from RMB 339.445 million in the previous year[6]. - The annual loss decreased to RMB 135.223 million, down 38.9% from RMB 221.242 million in the previous year[6]. - Revenue decreased by 11.4% from RMB 807.1 million for the fiscal year ending March 31, 2024, to RMB 715.0 million for the fiscal year ending March 31, 2025[37]. - Revenue from the life sciences solutions segment decreased by 23.7% from RMB 324.0 million to RMB 247.1 million during the same period[37]. - Revenue from the health management platform decreased by 28.0% from RMB 169.5 million to RMB 122.0 million[37]. - Gross profit for the fiscal year ending March 31, 2025, was RMB 239.2 million, with a gross margin of 33.5%[39]. - The company reported a net loss of RMB 135,223,000 for the fiscal year, compared to a net loss of RMB 221,242,000 in the previous year[85]. - The financial income for the fiscal year was RMB 2,321,000, a decrease from RMB 10,510,000 in the previous year[85]. - The company experienced a foreign exchange loss of RMB 50,420,000 during the fiscal year, compared to a loss of RMB 122,837,000 in the previous year[87]. Operational Highlights - The company served 110 top hospitals and 44 regulatory bodies, covering over 4,000 hospitals with its big data platform and solutions[11]. - The number of active users on the health management platform exceeded 24 million, with 6.09 million participants in the "Shenzhen Hui Min Bao" insurance program for 2024[11]. - The retention rate for the top 20 life science clients was 87.51%, with 16 out of the top 20 multinational pharmaceutical companies being clients[11]. - The company has developed the YiduCore AI medical brain, which has processed 11.5 billion patient visits and 60 billion authorized medical records[9]. - The AI diagnosis assistant served a total of 26,000 patients from February to June 2025, providing personalized decision-making support during medical consultations[15]. - The company ranked first in a national large model capability assessment organized by the National Health Commission in September 2024[14]. Technology and Innovation - The AI platform has been deployed in over 30 top-tier hospitals within three months of launch, significantly enhancing operational efficiency and reducing application deployment time by approximately 50%[15]. - The new generation data center Eywa 5.0 has improved data flow speed and efficiency by over four times, significantly reducing labor and computing costs[17]. - The AI platform can reduce the time for medical record writing from 5 minutes to 30 seconds, and TNM staging assessment time by 70%[17]. - The company plans to enhance AI technology and optimize the YiduCore algorithm for better performance in complex tasks[32]. - The company aims to deepen disease research and application, providing AI decision support for core diseases like tumors and cardiovascular diseases[32]. Cost Management - Sales and marketing expenses decreased by 33.4% from RMB 208.9 million for the fiscal year ending March 31, 2024, to RMB 139.2 million for the fiscal year ending March 31, 2025, representing 19.5% of revenue, down from 25.9%[42]. - Administrative expenses decreased by 14.6% from RMB 171.3 million for the fiscal year ending March 31, 2024, to RMB 146.4 million for the fiscal year ending March 31, 2025, accounting for 20.5% of revenue, down from 21.2%[43]. - R&D expenses decreased by 19.9% from RMB 232.9 million for the fiscal year ending March 31, 2024, to RMB 186.5 million for the fiscal year ending March 31, 2025, representing 26.1% of revenue, down from 28.9%[44]. - Total expenses for sales and service costs, sales and marketing expenses, administrative expenses, and R&D expenses totaled RMB 947,824 thousand in 2025, down from RMB 1,080,767 thousand in 2024, a decline of 12.3%[106]. Future Outlook - Future plans include continuous product upgrades to enhance coverage in general hospitals and empower specialized hospitals through a three-in-one collaborative system[19]. - The company will explore new models for AI-enabled health management services to increase active user numbers[35]. - The company is focused on strategic partnerships, investments, and acquisitions to enrich its ecosystem[32]. Employee and Financial Position - The total number of employees as of March 31, 2025, was 823, with 326 in product R&D and technology, 277 in the medical department, 142 in sales and marketing, and 78 in general and administration[61]. - Total compensation costs for the fiscal year ending March 31, 2025, amounted to RMB 417.6 million, down from RMB 566.3 million for the fiscal year ending March 31, 2024[62]. - Cash and cash equivalents, along with other deposits, totaled RMB 3,309.1 million as of March 31, 2025, down from RMB 3,409.9 million as of March 31, 2024[49]. - The company had no significant acquisitions or disposals of subsidiaries or associated entities for the fiscal year ending March 31, 2025[51]. - The company did not declare or pay any dividends for the years ended March 31, 2025, and 2024[116].

Stock Options - The total number of unexercised stock options as of March 31, 2024, is 11,120,000, down from 11,880,000 at the beginning of the year, reflecting a decrease of approximately 6.4%[2] - The number of stock options granted during the year is zero, indicating no new stock options were issued[3] - The total number of stock options exercised during the year is also zero, showing no options were exercised[3] - The total number of stock options that lapsed or were canceled during the year is 760,000, which is about 6.4% of the total options available at the start of the year[2] - The number of unexercised stock options held by employees decreased from 6,080,000 to 5,620,000, a reduction of 7.6%[2] - The company has a total of 1,100,000 unexercised stock options held by other participants, unchanged from the previous year[2] Governance - The company’s board of directors includes a mix of executive and independent directors, ensuring diverse governance[4] Business Developments - The company has not disclosed any new product developments or market expansion strategies in this report[3] - There are no acquisitions or mergers reported during the fiscal year ending March 31, 2024[3] Financial Transparency - The company maintains its commitment to transparency and accuracy in its financial disclosures[1]

Asset Management and Financial Performance - During the period ending March 31, 2025, the total AUM for Sinohope Asset Management reached approximately $88.7 million, with 12 funds launched in collaboration with partners[10]. - The total revenue for the group during the period ending March 31, 2025, was approximately HKD 3,455.7 million, an increase of about 427.1% or HKD 2,800.1 million compared to the previous period[27]. - The group recorded a gross profit of approximately HKD 11.0 million during the period, down from HKD 32.1 million in the previous period[28]. - The net loss for the group during the period was approximately HKD 12.3 million, compared to a net profit of HKD 101.2 million in the previous period, resulting in a basic and diluted loss per share of HKD 0.0264[29]. - The revenue generated from asset management services was approximately HKD 12.8 million, a decrease of about HKD 4.5 million or 25.7% compared to HKD 17.3 million in the previous period[32]. - The revenue from custody services was approximately HKD 0.6 million, an increase of about HKD 0.2 million or 64.3% compared to HKD 0.4 million in the previous period[35]. - The revenue from cryptocurrency trading business was approximately HKD 3,437.8 million, with a gross profit of approximately HKD 4.5 million, down from HKD 7.7 million in the previous period[37]. - The group provided technical solutions generating revenue of approximately HKD 3.7 million, up from HKD 2.9 million in the previous period due to effective marketing and brand building[30]. - Other income and gains for the period 2025 amounted to approximately HKD 6.0 million, an increase of about HKD 7.0 million from a loss of approximately HKD 0.9 million in 2024, primarily due to gains from cryptocurrency investments[38]. Acquisitions and Strategic Partnerships - The company has agreed to acquire shares representing 100% of the issued share capital of a British Virgin Islands company for a consideration of $30,462,086.38 (approximately HKD 237,604,273.76) on August 16, 2024[16]. - The company will also acquire approximately 7.69% of the issued share capital of BitTrade for a consideration of $2,769,435.22 (approximately HKD 21,601,594.72) on August 16, 2024[17]. - The company has completed the acquisition agreements for both the British Virgin Islands company and BitTrade, integrating their financial performance into the group's financial statements[17]. - Following the completion of the acquisition, Avenir will become a wholly-owned subsidiary, and BitTrade will be an indirect subsidiary, with their financial performance consolidated into the company's financial statements[84]. Market Environment and Economic Outlook - The global economic environment has shown signs of recovery from high inflation, with expectations of a potential interest rate cut cycle beginning in the second half of the year[12]. - The external environment remains complex, with geopolitical tensions and trade frictions impacting market volatility, particularly in the crypto sector[6][7]. - The company is leveraging its experience in compliance operations to drive growth despite external challenges[8]. - The company is strategically positioned to leverage Hong Kong's favorable regulatory environment and its unique geographical advantages for future growth in the digital asset and fintech sectors[14]. Operational Efficiency and Cost Management - Administrative expenses for the period 2025 were approximately HKD 39.3 million, a significant decrease of about HKD 14.8 million or 27.4% from approximately HKD 54.1 million in 2024, attributed to cost management measures[39]. - Financing costs for the period 2025 were approximately HKD 0.1 million, a reduction of about HKD 4.6 million or 97.4% from approximately HKD 4.7 million in 2024[40]. - The company is focused on upgrading its custody services to provide value-added services and improve product capabilities, aiming to compete with leading custodians[70]. - The company has established operational infrastructure to support business growth, including expanding IT infrastructure and hiring experienced management personnel[61]. Employee and Management Changes - The total employee cost for the six months ended March 31, 2025, was approximately HKD 28.5 million, a decrease from HKD 33.9 million for the same period in 2024, reflecting a reduction in workforce from 86 to 75 employees[65]. - The total number of employees as of March 31, 2025, was 75, down from 86 as of September 30, 2024[65]. - The total compensation for key management personnel, including directors, was HKD 3,261,000 for the six months ended March 31, 2025, down from HKD 3,916,000 in 2024, a decrease of 16.7%[167]. Stock Options and Share Capital - The company plans to increase its authorized share capital by 200,000,000 shares, raising the total from HKD 500,000 (500,000,000 shares) to HKD 700,000 (700,000,000 shares)[20]. - The company has proposed to update the share option plan's authorized limit to 10% of the issued shares as of March 31, 2025, allowing for a total of 46,656,066 shares to be issued under the plan[19]. - The company’s authorized share capital was increased from 500,000,000 shares to 700,000,000 shares, as approved by shareholders on March 31, 2025[140]. - The total issued and paid-up share capital increased to 466,560,665 shares as of March 31, 2025, following the issuance of 157,000,000 new shares[139]. Risk Management and Compliance - The company is committed to enhancing its anti-money laundering policies and procedures to comply with relevant regulations, which may impact performance if not adhered to[64]. - The overall risk management strategy focuses on mitigating potential adverse impacts on financial performance due to unanticipated factors in financial markets[96]. - The company has not made any significant changes to its risk management policies since the fiscal year ending September 30, 2024[96]. Future Outlook and Growth Strategies - The company aims to explore innovative business models and enhance its industry ecosystem within a compliant framework, reflecting its adaptability to regulatory changes[14]. - The company is committed to providing differentiated solutions to clients, aiming to capture opportunities in the evolving digital finance landscape[14]. - The company is investing $F million in R&D for new technologies aimed at enhancing user experience and operational efficiency[187]. - Overall, the company remains optimistic about achieving its long-term growth targets, with a commitment to sustainable practices[187].

Impairment Loss - The company recognized an impairment loss of approximately HKD 20,026,000 for the fiscal year 2024, compared to no impairment loss in 2023[4] - The recoverable amount for the copper alloy bonding wire cash-generating unit was determined to be HKD 6,526,000, down from HKD 13,018,000 in 2023, resulting in an impairment loss of approximately HKD 900,000[4] - The silver alloy bonding wire cash-generating unit was assessed to have a recoverable amount of zero, leading to a full impairment loss of approximately HKD 19,126,000 for the fiscal year 2024[5] - The pre-tax discount rate used for the impairment testing was 16.28%, down from 18.41% in 2023[5] Financial Performance - The budgeted gross profit margin for the copper alloy bonding wire cash-generating unit was 20.8%, a decrease from 21.7% in 2023[4] - The company plans to provide monthly updates to the board on financial and operational performance to comply with corporate governance codes[8] - The company will deliver monthly revenue and gross profit analysis segmented by product within three weeks after each month-end[8] - The company aims to enhance its financial reporting procedures to ensure compliance with GEM listing rules[6] Market Conditions - The management team noted increased competitive activity, prompting a reassessment of market share and expected profits for certain products[3] - The company continues to receive positive feedback from customers regarding its projects, indicating satisfactory performance expectations[3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 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。 GC Construction Holdings Limited （股 份 代 號：1489） （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 截至2025年3月31日止年度之年度業績公告 財務概要 年度業績 GC Construction Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）欣然呈 報本公司及其附屬公司（統稱「本集團」）截至2025年3月31日止年度的綜合年度業 績，連同截至2024年3月31日止年度的比較數字。 1 截至2025年3月31日止年度 | | | 2025年 | 2024年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 收入 | 4 | 530,657 | 585,170 | | 服務成本 | | (528,535) | (543,327) | | 毛利 | | 2,122 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 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。 China Dongxiang (Group) Co., Ltd. 中 國 動 向（ 集 團 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3818） 二零二四╱二零二五年度業績公告 中國動向（集團）有限公司（「本公司」）董事會（「董事會」）謹此提呈本公司及其附屬公司 （合稱「本集團」）截至二零二五年三月三十一日止十二個月的經審核業績。本公告列載本 公司二零二四╱二零二五年年報全文，並符合香港聯合交易所有限公司證券上市規則中 有關年度業績初步公告附載的資料的相關要求。本年度業績公告可於香港交易及結算所 有限公司的網站www.hkexnews.hk及本公司的網站www.dxsport.com閱覽。二零二四╱二 零二五年年報將會於二零二五年七月十一日或前後寄發予已作出指示表明彼等選擇接收 紙質版本的股東。 – 1 – DONGXIANG China Dongxiang (Group) Co ...

Economic Environment and Market Dynamics - The economic environment in Hong Kong has been challenging, leading to a significant decline in customer spending in the restaurant industry[12]. - The company has implemented strategies such as menu innovation and operational streamlining to adapt to market dynamics[12]. - The recovery of inbound tourism from China and the Asia-Pacific region is expected to improve the performance of the restaurant industry[12]. - The company plans to expand its network in Hong Kong by carefully selecting suitable locations and enhancing its brand portfolio[13]. - The focus will remain on providing a "luxury for all" dining experience while ensuring high-quality food offerings[13]. Financial Performance - For the fiscal year ending March 31, 2025, the company's revenue reached approximately HKD 253.5 million, an increase of about HKD 27.8 million or 12.3% compared to HKD 225.7 million for the previous year[20]. - The cost of goods sold was approximately HKD 103.6 million, representing an increase of about HKD 23.4 million or 29.2% from HKD 80.2 million in the prior year[21]. - Gross profit was approximately HKD 149.9 million, an increase of about HKD 4.4 million or 3.0% from HKD 145.5 million year-over-year[23]. - The overall gross margin decreased from approximately 64.5% to 59.1% due to promotional activities reducing average spending per customer and the lower gross margin of the newly opened restaurant, "柏麗廳" (Palace Hall)[23]. - For the fiscal year ending March 31, 2025, the group recorded a loss of approximately HKD 17.2 million, compared to a loss of approximately HKD 18.6 million for the fiscal year ending March 31, 2024[35]. Operational Costs and Expenses - Employee costs increased by approximately HKD 6.0 million or 8.3% to HKD 78.7 million from HKD 72.7 million in the previous year[25]. - Depreciation expenses decreased to approximately HKD 35.1 million from HKD 37.1 million, primarily due to the opening of "柏麗廳" and the closure of "銅鑼灣Hana"[26]. - Rental and related expenses increased by approximately HKD 0.6 million or 4.2% to HKD 14.8 million from HKD 14.2 million in the prior year[28]. - Fuel and utility expenses rose by approximately HKD 0.6 million or 9.4% to HKD 7.0 million from HKD 6.4 million, influenced by the opening of "柏麗廳" and the closure of "銅鑼灣Hana"[29]. - Financing costs increased by approximately HKD 2.3 million or 79.3% to HKD 5.2 million from HKD 2.9 million, mainly due to new leasing agreements and interest on lease liabilities[32]. Corporate Governance and Board Structure - The board emphasizes the importance of good corporate governance to enhance shareholder value and ensure effective accountability[63]. - The company has adopted all applicable corporate governance code provisions, except for C.2.1 and C.6.1, as of the fiscal year ending March 31, 2025[68]. - The board consists of six directors, with independent non-executive directors making up 50% of the board, exceeding GEM listing rules requirements[73]. - The independent non-executive directors provided extensive business and financial expertise, ensuring compliance with GEM listing rules[76]. - The board has established committees to monitor operational and financial performance, ensuring appropriate internal controls and risk management measures[76]. Risk Management and Internal Controls - The company has established risk management and internal control policies, with the board responsible for monitoring their effectiveness at least annually[118]. - An independent internal control consultant has been engaged to assess the internal control system, concluding that there are no significant deficiencies[121]. - The company identifies and categorizes risks into four categories: strategic, financial, operational, and compliance risks[122]. - The board has appointed an independent internal control consultant to review the effectiveness of the risk management and internal control systems, finding them adequate and effective[124]. Shareholder Relations and Communication - The company has implemented a shareholder communication policy to ensure timely and fair access to information for shareholders[134]. - The board of directors is required to convene a special general meeting within two months upon receiving a valid written request from shareholders holding at least 10% of the paid-up capital[131]. - The company encourages reporting of any misconduct or unethical behavior through established channels[138]. - The group maintains good working relationships with its customers and suppliers, emphasizing the importance of communication through various channels[145]. Employee and Board Diversity - The company is committed to maintaining gender diversity and equality within the board and overall employee team[83]. - As of March 31, 2025, the employee team consists of 35.4% female and 64.6% male, with the board aiming to maintain the current level of female representation[83]. - The board diversity policy was adopted on March 23, 2018, with measurable goals to ensure a balanced representation of skills, experience, and diverse perspectives[83]. Future Plans and Investments - The company has no significant investment or capital asset plans beyond those disclosed in the prospectus dated March 29, 2018, and the annual report[149]. - Under the total supply agreement with Fresh Run, the group plans to purchase fresh and frozen meat and seafood, with annual caps of HKD 44 million, HKD 53 million, and HKD 59 million for the three financial years ending March 31, 2026[168]. Environmental and Social Responsibility - The company has implemented various green measures to promote environmental and social sustainability, complying with local environmental laws and regulations[177].