v3.26.1
Consolidated Balance Sheets
Mar. 31, 2026
HKD ($)
Mar. 31, 2026
USD ($)
Mar. 31, 2025
HKD ($)
CURRENT ASSETS      
Cash and cash equivalents $ 8,633,257 $ 1,101,181 $ 20,396,353
Restricted cash 6,000,000 765,306 24,826,403
Inventories 540,467 68,937
Contracts receivable, net 91,296,831 11,645,004 32,124,233
Contract assets, net 65,563,007 8,362,628 91,098,639
Retention receivables, net 129,083 16,465 582,575
Prepaid expenses and other receivables, net 58,942,390 7,518,162 97,235,469
Tax recoverable 124,746 15,911
Total current assets 248,013,546 31,634,380 278,865,899
NON-CURRENT ASSETS      
Long-term investment 12,427,078 1,585,086 11,685,326
Property and equipment, net 5,900,679 752,638 5,778,998
Right-of-use assets, net 151,133,253 19,277,201 2,364,824
Rental deposits, net 11,511,625 1,468,320
Intangible assets 24,186,925 3,085,067
Goodwill 193,445,481 24,674,168 35,124,140
Deferred tax assets 3,127,225 398,881
Total non-current assets 401,732,266 51,241,361 54,953,288
Total assets 649,745,812 82,875,741 333,819,187
CURRENT LIABILITIES      
Bank borrowings 109,870,617 14,014,109 78,359,952
Other loan 778,000
Accounts payable 43,065,781 5,493,084 24,288,797
Accrued expenses and other payables 10,751,454 1,371,361 2,443,882
Dividend payable 7,880,000 1,005,102
Tax payable 15,695,246 2,001,944 12,078,618
Contract liabilities 41,475,189 5,290,203 53,953,394
Operating lease liabilities 25,887,386 3,301,963 2,364,824
Total current liabilities 257,927,923 32,898,971 176,434,734
NON-CURRENT LIABILITIES      
Operating lease liabilities 127,694,936 16,287,619
Deferred tax liabilities 3,990,843 509,036
Debt host of promissory notes 10,919,096 1,392,742
Embedded derivative of promissory notes 12,052,225 1,537,273
Total non-current liabilities 154,657,100 19,726,670
Total liabilities 412,585,023 52,625,641 176,434,734
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY      
Ordinary shares, value
Additional paid-in capital 130,389,486 16,631,312 65,289,486
Retained earnings (accumulated losses) (55,307,821) (7,054,569) 97,757,269
Equity attributable to owners of the Company 75,081,690 9,576,746 163,046,780
Non-controlling interests 162,079,099 20,673,354 (5,662,327)
Total shareholders’ equity 237,160,789 30,250,100 157,384,453
Total liabilities and shareholders’ equity 649,745,812 82,875,741 333,819,187
Class A Ordinary Shares      
SHAREHOLDERS’ EQUITY      
Ordinary shares, value 18 2 18
Class B Ordinary Shares      
SHAREHOLDERS’ EQUITY      
Ordinary shares, value 7 1 7
Related Parties      
CURRENT ASSETS      
Amounts due from related companies 16,783,765 2,140,786 12,602,227
CURRENT LIABILITIES      
Amounts due to related parties $ 3,302,250 $ 421,205 $ 2,167,267