New Risk • May 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Recent Insider Transactions • Feb 12
Executive Chairman & CEO recently bought HK$221k worth of stock On the 5th of February, Yui Kong Fung bought around 452k shares on-market at roughly HK$0.49 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Yui Kong has been a buyer over the last 12 months, purchasing a net total of HK$347k worth in shares. Recent Insider Transactions • Feb 04
Executive Chairman & CEO recently bought HK$92k worth of stock On the 30th of January, Yui Kong Fung bought around 188k shares on-market at roughly HK$0.49 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Yui Kong's only on-market trade for the last 12 months. Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Non-Executive Director Kenneth Ng was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 28
First half 2026 earnings released: EPS: HK$0.015 (vs HK$0.015 in 1H 2025) First half 2026 results: EPS: HK$0.015 (in line with 1H 2025). Revenue: HK$1.05b (up 3.3% from 1H 2025). Net income: HK$15.4m (up 5.9% from 1H 2025). Profit margin: 1.5% (up from 1.4% in 1H 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Anuncio • Nov 13
Pangaea Connectivity Technology Limited to Report First Half, 2026 Results on Nov 26, 2025 Pangaea Connectivity Technology Limited announced that they will report first half, 2026 results on Nov 26, 2025 New Risk • Sep 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 41% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$562.6m market cap, or US$72.3m). Anuncio • Aug 22
Pangaea Connectivity Technology Limited Approves Final Dividend for the Year Ended 31 March 2025 Pangaea Connectivity Technology Limited at its AGM held on 22 August 2025, approved the final dividend for the year ended 31 March 2025 of HKD 1.0 cent per share of HKD 0.01 in the capital of the Company. Upcoming Dividend • Aug 19
Upcoming dividend of HK$0.01 per share Eligible shareholders must have bought the stock before 26 August 2025. Payment date: 22 September 2025. The company last paid an ordinary dividend in June 2021. The average dividend yield among industry peers is 2.8%. New Risk • Aug 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (HK$521.5m market cap, or US$66.4m). Anuncio • Aug 14
Pangaea Connectivity Technology Limited has completed a Follow-on Equity Offering in the amount of HKD 35.82 million. Pangaea Connectivity Technology Limited has completed a Follow-on Equity Offering in the amount of HKD 35.82 million.
Security Name: Ordinary shares
Security Type: Common Stock
Securities Offered: 199,000,000
Price\Range: HKD 0.18
Discount Per Security: HKD 0.003
Transaction Features: Subsequent Direct Listing New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$306.5m market cap, or US$39.0m). Anuncio • Jul 24
Pangaea Connectivity Technology Limited has filed a Follow-on Equity Offering in the amount of HKD 35.82 million. Pangaea Connectivity Technology Limited has filed a Follow-on Equity Offering in the amount of HKD 35.82 million.
Security Name: Ordinary shares
Security Type: Common Stock
Securities Offered: 199,000,000
Price\Range: HKD 0.18
Transaction Features: Subsequent Direct Listing Anuncio • Jun 30
Pangaea Connectivity Technology Limited Proposes Final Dividend for the Year Ended 31 March 2025, Payable on 22 September 2025 Pangaea Connectivity Technology Limited proposed final dividend of HKD 0.01 per share for the year ended 31 March 2025. Ex-dividend date is 26 August 2025. Record date is 29 August 2025. Payment date is 22 September 2025. Reported Earnings • Jun 29
Full year 2025 earnings released: EPS: HK$0.031 (vs HK$0.029 loss in FY 2024) Full year 2025 results: EPS: HK$0.031 (up from HK$0.029 loss in FY 2024). Revenue: HK$2.13b (up 54% from FY 2024). Net income: HK$30.5m (up HK$59.8m from FY 2024). Profit margin: 1.4% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Jun 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 77% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Market cap is less than US$100m (HK$145.0m market cap, or US$18.5m). Anuncio • Jun 28
Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 22, 2025 Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 22, 2025. Anuncio • Jun 16
Pangaea Connectivity Technology Limited to Report Fiscal Year 2025 Results on Jun 25, 2025 Pangaea Connectivity Technology Limited announced that they will report fiscal year 2025 results on Jun 25, 2025 New Risk • Jan 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 77% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$169.3m market cap, or US$21.8m). Reported Earnings • Dec 01
First half 2025 earnings released: EPS: HK$0.015 (vs HK$0.014 loss in 1H 2024) First half 2025 results: EPS: HK$0.015 (up from HK$0.014 loss in 1H 2024). Revenue: HK$1.02b (up 70% from 1H 2024). Net income: HK$14.6m (up HK$28.6m from 1H 2024). Profit margin: 1.4% (up from net loss in 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Anuncio • Nov 15
Pangaea Connectivity Technology Limited to Report First Half, 2025 Results on Nov 29, 2024 Pangaea Connectivity Technology Limited announced that they will report first half, 2025 results on Nov 29, 2024 Anuncio • Oct 17
Pangaea Connectivity Technology Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 September 2024 Pangaea Connectivity Technology Limited provided unaudited consolidated earnings guidance for the six months ended 30 September 2024. For the six months, the Group is expected to record a net profit of not less than HKD 14 million for the six months ended 30 September 2024, as compared to a net loss of approximately HKD 14 million for the corresponding period last year. The expected turnaround of the Group's unaudited consolidated net profit after tax for the six months ended 30 September 2024 is primarily attributable to the significant increase in turnover by over 70% than that of approximately HKD 600 million for the six months ended 30 September 2023. The increase in turnover aligns with the increase in sales and gross profit margin resulting from the increase in sales of artificial intelligence (AI) products due to strong market demand. Anuncio • Aug 21
Pangaea Connectivity Technology Limited (SEHK:1473) commences an Equity Buyback Plan for 99,500,000 shares, representing 10% of its issued share capital, under the authorization approved on August 16, 2024. Pangaea Connectivity Technology Limited (SEHK:1473) commences share repurchases on August 21, 2024, under the program mandated by the shareholders in the Annual General Meeting held on August 16, 2024. As per the mandate, the company is authorized to repurchase up to 99,500,000 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations of Cayman Islands. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of August 16, 2024, the company had 995,000,000 shares in issue.
On August 16, 2024, the company announced a share repurchase program. Under the program, the company will repurchase HKD 10 million worth of shares. The repurchased shares will be cancelled or held by the company as treasury shares. The program will be financed with its existing available cash reserves and free cash flow. Reported Earnings • Jun 28
Full year 2024 earnings released: HK$0.029 loss per share (vs HK$0.031 loss in FY 2023) Full year 2024 results: HK$0.029 loss per share (improved from HK$0.031 loss in FY 2023). Revenue: HK$1.38b (up 16% from FY 2023). Net loss: HK$29.3m (loss narrowed 6.8% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Anuncio • Jun 27
Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 16, 2024 Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 16, 2024. Anuncio • Jun 14
Pangaea Connectivity Technology Limited to Report Fiscal Year 2024 Results on Jun 26, 2024 Pangaea Connectivity Technology Limited announced that they will report fiscal year 2024 results on Jun 26, 2024 Anuncio • Apr 24
Pangaea Connectivity Technology Limited (SEHK:1473) commences an Equity Buyback Plan for 100,000,000 shares, representing 10% of its issued share capital, under the authorization approved on August 25, 2023. Pangaea Connectivity Technology Limited (SEHK:1473) commences share repurchases on April 23, 2024, under the program mandated by the shareholders in the Annual General Meeting held on August 25, 2023. As per the mandate, the company is authorized to repurchase up to 100,000,000 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations of Cayman Islands. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of August 25, 2023, the company had 1,000,000,000 shares in issue.
On April 22, 2024, the company announced a share repurchase program. Under the program, the company will repurchase HKD 7.8 million worth of shares. The company will subsequently cancel the bought shares. The program will be financed with its existing available cash reserves and free cash flow. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Joseph Ling was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 24
First half 2024 earnings released: HK$0.014 loss per share (vs HK$0.004 profit in 1H 2023) First half 2024 results: HK$0.014 loss per share (down from HK$0.004 profit in 1H 2023). Revenue: HK$600.2m (down 12% from 1H 2023). Net loss: HK$14.0m (down 446% from profit in 1H 2023). Anuncio • Nov 19
Pangaea Connectivity Technology Limited Provides Earnings Guidance for the Six Months Ended 30 September 2023 Pangaea Connectivity Technology Limited provided earnings guidance for the six months ended 30 September 2023. However, the group has not been able to recover as quickly as the Board had hoped for the past year. For the year ended 31 March 2023, the Group has recorded a loss of HKD 31.4 million and as disclosed above, the Group has struggled to recover amidst the extremely challenging environment and global economy, and the group is expected to continue to incur loss for the six months ended 30 September 2023 of slightly over HKD 10 million mainly attributable to the decrease in gross profit as a result of decrease in gross profit margin resulting from slow down of the PRC market and disruption of supply chain and the increase in finance expenses due to the increase in interest rate. Anuncio • Oct 01
Pangaea Connectivity Technology Limited Announces Change of Directors and Composition of Board Committees The Board of Pangaea Connectivity Technology Limited announced that, Mr. Sze Wing Chun (``Mr. Sze'') has tendered his resignation as an independent non-executive Director with effect from 1 October 2023 in order to devote more time to his other professional and personal engagements. Following the resignation of Mr. Sze, Mr. Kam, Eddie Shing Cheuk (``Mr. Kam'') will be redesignated as an independent non-executive Director with effect from 1 October 2023 in place of Mr. Sze. Mr. Kam, Eddie Shing Cheuk () (formerly known as Kam Leung Ming ()), aged 49, was appointed as a non-executive Director on 17 June 2019. He was a member of the audit committee immediately prior to his redesignation as disclosed in this announcement. Mr. Kam graduated from the Polytechnic University of Hong Kong with a degree of Bachelor of Arts in Accountancy in November 2003 and thereafter Mr. Kam obtained a degree of Master of Corporate Governance from the Polytechnic University of Hong Kong in November 2010. He is currently a fellow member of the Hong Kong Institute of Certified Public Accountants, a member of The Institute of Chartered Accountants in England and Wales, an associate member of The Hong Kong Chartered Governance Institute and an associate member of The Chartered Governance Institute in the United Kingdom and Ireland. Mr. Kam has over 25 years of experience in auditing, professional accounting and worked for several Hong Kong listed companies of various industries and served senior roles in financial management and secretarial functions. Mr. Kam has been an independent non-executive director of (i) Ever Harvest Group Holdings Limited, a company listed on the Main Board of the Stock Exchange (stock code: 1549), since November 2016; (ii) Genes Tech Group Holdings Company Limited, a company listed on GEM of the Stock Exchange (stock code: 8257), since June 2017; and (iii) Citychamp Watch & Jewellery Group Limited, a company listed on the Main Board of the Stock Exchange (stock code: 256), since November 2020. He has also been the chief executive officer of Get Nice Holdings Limited, a company listed on the Main Board of the Stock Exchange (stock code: 64), since June 2022. Mr. Kam was previously an executive director of (i) Get Nice Financial Group Limited, a company listed on the Main Board of the Stock Exchange (stock code: 1469), from September 2015 to April 2017; and (ii) Get Nice Holdings Limited, a company listed on the Main Board of the Stock Exchange (stock code: 64), from April 2017 to June 2022; and an independent non-executive director of (i) Casablanca Group Limited, a company listed on the Main Board of the Stock Exchange (stock code: 2223), from April 2015 to May 2017; (ii) Xiezhong International Holdings Limited, a company listed on the Main Board of the Stock Exchange (stock code: 3663), from December 2020 to July 2021; and (iii) AVIC Joy Holdings (HK) Limited, a company listed on the Main Board of the Stock Exchange (stock code: 260), from April 2022 to August 2022. Mr. Kam was appointed as a council member of the sixth term of the Guangzhou OverseasFriendship-Liaison Association Committee in March 2013 and a council member of theseventh term of the Shenzhen Overseas Friendship-Liaison Association Committee in 2017.He was also appointed as a committee member of the Chinese People's PoliticalConsultative Conference Shanghai Committee (Baoshan District) in December 2016. Mr. Sze will cease to be the chairman of the audit committee of the Company and a member of the remuneration committee of the Company; Mr. Kam will be redesignated as the chairman of the audit committee of the Company and appointed as a member of the remuneration committee of the Company; and Mr. Chan Hiu Fung Nicholas (``Mr. Chan''), an independent non-executive Director, will be appointed as a member of the audit committee of the Company. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 51% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (HK$180.0m market cap, or US$23.0m). Reported Earnings • Jun 29
Full year 2023 earnings released: HK$0.031 loss per share (vs HK$0.004 profit in FY 2022) Full year 2023 results: HK$0.031 loss per share (down from HK$0.004 profit in FY 2022). Revenue: HK$1.20b (down 2.1% from FY 2022). Net loss: HK$31.4m (down HK$35.1m from profit in FY 2022). Anuncio • Jun 29
Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 11, 2023 Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 11, 2023. Anuncio • Jun 15
Pangaea Connectivity Technology Limited to Report Fiscal Year 2023 Results on Jun 28, 2023 Pangaea Connectivity Technology Limited announced that they will report fiscal year 2023 results on Jun 28, 2023 New Risk • Jun 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings have declined by 33% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (HK$229.0m market cap, or US$29.2m). Reported Earnings • Nov 24
First half 2023 earnings released: EPS: HK$0.004 (vs HK$0.002 in 1H 2022) First half 2023 results: EPS: HK$0.004 (up from HK$0.002 in 1H 2022). Revenue: HK$682.4m (up 3.5% from 1H 2022). Net income: HK$4.05m (up 121% from 1H 2022). Profit margin: 0.6% (up from 0.3% in 1H 2022). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Joseph Ling was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Nov 10
Pangaea Connectivity Technology Limited to Report First Half, 2023 Results on Nov 23, 2022 Pangaea Connectivity Technology Limited announced that they will report first half, 2023 results on Nov 23, 2022 Anuncio • Jul 01
Pangaea Connectivity Technology Limited Does Not Recommends Final Dividend for the Year Ended March 31, 2022 The board of Pangaea Connectivity Technology Limited announced that does not recommend payment of a final dividend for the year ended March 31, 2022 (2021: HK 1.3 cents). Reported Earnings • Jul 01
Full year 2022 earnings released Full year 2022 results: Revenue: HK$1.22b (down 21% from FY 2021). Net income: HK$3.74m (down 93% from FY 2021). Profit margin: 0.3% (down from 3.2% in FY 2021). Anuncio • Jun 30
Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 12, 2022 Pangaea Connectivity Technology Limited, Annual General Meeting, Aug 12, 2022. Anuncio • Jun 16
Pangaea Connectivity Technology Limited to Report Fiscal Year 2022 Results on Jun 29, 2022 Pangaea Connectivity Technology Limited announced that they will report fiscal year 2022 results on Jun 29, 2022 Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Executive Chairman & CEO Yui Kong Fung is the most experienced director on the board, commencing their role in 2018. Independent Non-Executive Director Joseph Ling was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 19
First half 2022 earnings released The company reported a mediocre first half result with flat earnings, revenues and profit margins. First half 2022 results: Revenue: (flat on 1H 2021). Net income: (flat on 1H 2021). Profit margin: (in line with 1H 2021). Reported Earnings • Jul 01
Full year 2021 earnings released: EPS HK$0.065 The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: HK$1.55b (up 60% from FY 2020). Net income: HK$50.1m (up 50% from FY 2020). Profit margin: 3.2% (down from 3.4% in FY 2020). The decrease in margin was driven by higher expenses. Anuncio • Mar 24
Pangaea Connectivity Technology Limited Provides Financial Guidance for the Year Ending 31 March 2021 Pangaea Connectivity Technology Limited provided financial guidance for the year ending 31 March 2021. The net profit attributable to equity holders of the Company for the year ending 31 March 2021 is expected to increase by over 50% than that of approximately HKD 33.4 million for the year ended 31 March 2020.