v3.26.1
Segment Information
 12 Months Ended
Mar. 31, 2026
Segment Information [Abstract]  
SEGMENT INFORMATION

3. Segment information

 

ASC Topic 280, Segment Reporting, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different products or services. Based on management’s assessment, the Company has determined that it has two operating segments, which are (i) construction and engineering design services; and (ii) provision of cold storage facilities, trading of food and agricultural, asset management and professional consultancy services in Hong Kong. All assets of the Company are located in Hong Kong and all revenue is generated in Hong Kong.

 

Key financial performance measures of the segments are as follows:

 

Year ended March 31, 2026

 

    Construction
and
engineering
services		     Provision of cold storage facilities, trading of food and agricultural products, asset
management
and
professional
consultancy
services		     Corporate     Total     Total  
    HK$     HK$     HK$     HK$     US$  
Revenue – external     198,079,063       23,200,406       —       221,279,469       28,224,422  
Revenue – related parties     744,861       —       —       744,861       95,008  
Total revenue     198,823,924       23,200,406       —       222,024,330       28,319,430  
                                         
Cost of revenue – external     146,996,080       22,835,369       —       169,831,449       21,662,175  
Cost of revenue – related parties     36,680,239       —       —       36,680,239       4,678,602  
Total cost of revenue     183,676,319       22,835,369       —       206,511,688       26,340,777  
Gross profit     15,147,605       365,037       —       15,512,642       1,978,653  
                                         
Depreciation     (1,822,410 )     (404,932 )     —       (2,227,342 )     (284,100 )
Operating expenses     (22,994,032 )     (96,336,602 )     (2,783,867 )     (122,114,501 )     (15,575,829 )
Total expenses     (24,816,442 )     (96,741,534 )     (2,783,867 )     (124,341,843 )     (15,859,929 )
                                         
Bank interest income     267,488       262       299       268,049       34,190  
Interest expense     (3,109,942 )     (5,060,072 )     (560,130 )     (8,730,143 )     (1,113,539 )
Other income     13,227,088       256,879       —       13,483,967       1,719,894  
Other expense     —       —       (17,472 )     (17,472 )     (2,229 )
Fair value loss on promissory note     —       —       (6,731,190 )     (6,731,190 )     (858,570 )
Impairment loss on goodwill     —       (35,124,140 )     —       (35,124,140 )     (4,480,120 )
Total other income (expense), net     10,384,634       (39,927,071 )     (7,308,493 )     (36,850,929 )     (4,700,374 )
Profit/(loss) before income tax expenses     715,797       (136,303,568 )     (10,092,360 )     (145,680,131 )     (18,581,650 )
Segment loss     (265,702 )     (137,140,769 )     (10,092,360 )     (147,498,831 )     (18,813,627 )
                                         
Total assets     314,962,777       264,372,046       70,410,989       649,745,812       82,875,741  
Total liabilities     (8,267,456 )     (379,830,690 )     (24,486,877 )     (412,585,023 )     (52,625,641 )
Net assets (liabilities)     306,695,321       (115,458,644 )     45,924,112       237,160,789       30,250,100  

 

Year ended March 31, 2025

 

    Construction
and
engineering
services		     Asset
management
and
professional
consultancy
services		     Corporate     Total     Total  
    HK$     HK$     HK$     HK$     US$  
Revenue – external     362,457,593       14,221,783       —       376,679,376       48,416,995  
Revenue – related parties     490,375       1,000,000       —       1,490,375       191,567  
Total revenue     362,947,968       15,221,783       —       378,169,751       48,608,562  
                                         
Cost of revenue – external     (291,551,307 )     (9,995,698 )     —       (301,547,005 )     (38,759,753 )
Cost of revenue – related parties     (16,563,785 )     —       —       (16,563,785 )     (2,129,049 )
Total cost of revenue     (308,115,092 )     (9,995,698 )     —       (318,110,790 )     (40,888,802 )
Gross profit     54,832,876       5,226,085       —       60,058,961       7,719,760  
                                         
Depreciation     (1,939,933 )     (3,355,818 )     —       (5,295,751 )     (680,697 )
Operating expenses     (21,677,322 )     (22,460,175 )     (856,149 )     (44,993,646 )     (5,783,319 )
Total expenses     (23,617,255 )     (25,815,993 )     (856,149 )     (50,289,397 )     (6,464,016 )
                                         
Bank interest income     841,020       1,617       7,098       849,735       109,222  
Interest expense     (1,993,994 )     (698,400 )     —       (2,692,394 )     (346,071 )
Other income     927,217       40,001       —       967,218       124,323  
Other expense     (2,966 )     —       (19,118 )     (22,084 )     (2,839 )
                                         
Impairment loss on goodwill     —       —       —       —       —  
Total other income (expense), net     (228,723 )     (656,782 )     (12,020 )     (897,525 )     (115,365 )
Income (loss) before income tax expenses     30,986,898       (21,246,690 )     (868,169 )     8,872,039       1,140,379  
Segment income (loss)     25,484,221       (22,175,512 )     (868,169 )     2,440,540       313,698  
                                         
Total assets     223,858,283       109,865,035       95,869       333,819,187       42,907,901  
Total liabilities     (97,145,713 )     (79,289,021 )     —       (176,434,734 )     (22,678,277 )
Net assets (liabilities)     126,712,570       30,576,014       95,869       157,384,453       20,229,624  

 

Year ended March 31, 2024

 

    Construction
and
engineering
services		     Asset
management
and
professional
consultancy
services		     Corporate     Total     Total  
    HK$     HK$     HK$     HK$     US$  
Revenue – external     236,257,009       13,980,188       —       250,237,197       31,975,517  
Revenue – related parties     1,742,678       —       —       1,742,678       222,681  
Total revenue     237,999,687       13,980,188       —       251,979,875       32,198,198  
                                         
Cost of revenue – external     (179,246,424 )     (8,674,185 )     —       (187,920,609 )     (24,012,651 )
Gross profit     58,753,263       5,306,003       —       64,059,266       8,185,547  
                                         
Depreciation     (1,900,524 )     (2,946,898 )     —       (4,847,422 )     (619,408 )
Operating expenses     (18,405,761 )     (12,562,942 )     (58,029 )     (31,026,732 )     (3,964,621 )
Total expenses     (20,306,285 )     (15,509,840 )     (58,029 )     (35,874,154 )     (4,584,029 )
                                         
Bank interest income     195,019       300       —       195,319       24,958  
Interest expense     (905,567 )     (581,062 )     —       (1,486,629 )     (189,963 )
Other income     1,500       40,300       —       41,800       5,341  
Other expense     (1,600 )     —       —       (1,600 )     (204 )
Impairment loss on goodwill     (1,500,000 )     —               (1,500,000 )     (191,671 )
Total other income (expense), net     (2,210,648 )     (540,462 )     —       (2,751,110 )     (351,539 )
Income (loss) before income tax expenses     36,236,330       (10,744,299 )     (58,029 )     25,434,002       3,249,979  
Segment income (loss)     31,059,401       (11,373,382 )     (58,029 )     19,627,990       2,508,082  
                                         
Total assets     110,391,917       132,432,534       —       242,824,451       31,028,310  
Total liabilities     (65,214,518 )     (79,481,008 )     (69,629 )     (144,765,155 )     (18,498,212 )
Net assets (liabilities)     45,177,399       52,951,526       (69,629 )     98,059,296       12,530,098