| CONTRACTS RECEIVABLE, NET |
6. CONTRACTS RECEIVABLE, NET Contracts receivable, net is comprised of the following: | | | As of March 31, | | | | | 2025 | | | 2026 | | | 2026 | | | | | HK$ | | | HK$ | | | US$ | | | Contracts receivable | | | 42,018,485 | | | | 114,405,565 | | | | 14,592,547 | | | Allowance for expected credit losses | | | (9,894,252 | ) | | | (23,108,734 | ) | | | (2,947,543 | ) | | Balance at end of year | | | 32,124,233 | | | | 91,296,831 | | | | 11,645,004 | | Allowance for expected credit losses consists of the following: | | | As of March 31, | | | | | 2025 | | | 2026 | | | 2026 | | | | | HK$ | | | HK$ | | | US$ | | | Beginning balance | | | 3,094,465 | | | | 9,894,252 | | | | 1,262,022 | | | Addition | | | 6,799,787 | | | | 13,214,553 | | | | 1,685,530 | | | Deconsolidation of subsidiaries | | | — | | | | (71 | ) | | | (9 | ) | | Ending balance | | | 9,894,252 | | | | 23,108,734 | | | | 2,947,543 | |
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