Pan Hong P36
SGD 0.049
-22.45% -0.01 Updated 13 Nov 2026, 17:16 SGT
Financials
ANNUAL REPORT 2025-2026
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28 tablesGroup / Company balance sheets — FY2026 source
32 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipmentChinese yuan thousands | 36,964 | 43,882 | – | – | PDF p. 81 |
| Investment propertiesChinese yuan thousands | 28,285 | 69,630 | – | – | PDF p. 81 |
| Investments in subsidiariesChinese yuan thousands | – | – | 278,608 | 278,608 | PDF p. 81 |
| Financial asset at fair value through other comprehensive incomeChinese yuan thousands | 20,290 | 21,570 | 12,223 | 12,994 | PDF p. 81 Label p. 81 |
| Deferred tax assetsChinese yuan thousands | – | 199 | – | – | PDF p. 81 |
| SubtotalChinese yuan thousands | 85,539 | 135,281 | 290,831 | 291,602 | PDF p. 81 |
| Current assets | |||||
| Properties held under developmentChinese yuan thousands | 731,377 | 753,495 | – | – | PDF p. 81 |
| Properties held for saleChinese yuan thousands | 582,467 | 940,343 | – | – | PDF p. 81 |
| Contract cost assetsChinese yuan thousands | 2,496 | 6,770 | – | – | PDF p. 81 |
| Prepayments and other receivablesChinese yuan thousands | 42,953 | 73,953 | 231 | 237 | PDF p. 81 |
| Amounts due from subsidiariesChinese yuan thousands | – | – | 365,746 | 365,746 | PDF p. 81 |
| Financial assets at fair value through profi t or lossChinese yuan thousands | – | 52 | – | – | PDF p. 81 Label p. 81 |
| Tax recoverableChinese yuan thousands | 9,737 | – | – | – | PDF p. 81 |
| Cash and bank balancesChinese yuan thousands | 13,617 | 29,469 | 154 | 154 | PDF p. 81 |
| SubtotalChinese yuan thousands | 1,382,647 | 1,804,082 | 366,131 | 366,137 | PDF p. 81 |
| Current liabilities | |||||
| Accruals and other payablesChinese yuan thousands | 373,630 | 375,386 | 274 | 151 | PDF p. 81 |
| Contract liabilitiesChinese yuan thousands | 82,185 | 217,347 | – | – | PDF p. 81 |
| Current tax liabilitiesChinese yuan thousands | 10,578 | 73,888 | – | – | PDF p. 81 |
| Amounts due to related partiesChinese yuan thousands | 95,036 | 87,388 | 344,784 | 342,351 | PDF p. 81 |
| Bank and other loansChinese yuan thousands | 79,500 | 60,125 | – | – | PDF p. 81 |
| SubtotalChinese yuan thousands | 640,929 | 814,134 | 345,058 | 342,502 | PDF p. 81 |
| Net current assetsChinese yuan thousands | 741,718 | 989,948 | 21,073 | 23,635 | PDF p. 81 |
| Total assets less current liabilitiesChinese yuan thousands | 827,257 | 1,125,229 | 311,904 | 315,237 | PDF p. 81 |
| Non-current liabilities | |||||
| Bank and other loansChinese yuan thousands | 26,555 | 58,100 | – | – | PDF p. 81 |
| Deferred tax liabilitiesChinese yuan thousands | 559 | 3,925 | – | – | PDF p. 81 |
| SubtotalChinese yuan thousands | 27,114 | 62,025 | – | – | PDF p. 81 |
| Net assetsChinese yuan thousands | 800,143 | 1,063,204 | 311,904 | 315,237 | PDF p. 81 |
| Company | |||||
| Share capitalChinese yuan thousands | 52,241 | 52,241 | 52,241 | 52,241 | PDF p. 81 |
| ReservesChinese yuan thousands | 731,056 | 987,271 | 259,663 | 262,996 | PDF p. 81 |
| SubtotalChinese yuan thousands | 783,297 | 1,039,512 | 311,904 | 315,237 | PDF p. 81 |
| Non-controlling interestsChinese yuan thousands | 16,846 | 23,692 | – | – | PDF p. 81 |
| Total equityChinese yuan thousands | 800,143 | 1,063,204 | 311,904 | 315,237 | PDF p. 81 |
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Definitions & sources
Original report: PDF p. 81 ↗
Consolidated profit / comprehensive income — FY2026 source
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Consolidated profit / comprehensive income — FY2026 source | |||
| RevenueChinese yuan thousands | 179,235 | 319,971 | PDF p. 80 |
| Cost of salesChinese yuan thousands | (390,444) | (252,756) | PDF p. 80 |
| Gross (loss)/profi tChinese yuan thousands | (211,209) | 67,215 | PDF p. 80 |
| Other income and other gains and lossesChinese yuan thousands | (24,370) | 3,061 | PDF p. 80 |
| Selling and distribution expensesChinese yuan thousands | (15,648) | (21,544) | PDF p. 80 |
| Administrative expensesChinese yuan thousands | (25,775) | (17,619) | PDF p. 80 |
| Share of loss of an associateChinese yuan thousands | – | (15) | PDF p. 80 |
| Operating (loss)/profi tChinese yuan thousands | (277,002) | 31,098 | PDF p. 80 |
| Finance costsChinese yuan thousands | (4,174) | (2,303) | PDF p. 80 |
| (Loss)/profi t before income taxChinese yuan thousands | (281,176) | 28,795 | PDF p. 80 |
| Income tax credit/(expense)Chinese yuan thousands | 19,147 | (11,938) | PDF p. 80 |
| (Loss)/profi t for the yearChinese yuan thousands | (262,029) | 16,857 | PDF p. 80 |
| Item that will not be reclassifi ed to profi t or loss: | |||
| Change in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | (1,280) | (3,650) | PDF p. 80 Label p. 80 |
| Item that may be reclassifi ed to profi t or loss: | |||
| Exchange diff erences on translation of fi nancial statements of foreign operationsChinese yuan thousands | 248 | 106 | PDF p. 80 Label p. 80 |
| Other comprehensive income for the yearChinese yuan thousands | (1,032) | (3,544) | PDF p. 80 |
| Total comprehensive income for the yearChinese yuan thousands | (263,061) | 13,313 | PDF p. 80 |
| (Loss)/profi t for the year attributable to: Owners of the CompanyChinese yuan thousands | (255,183) | 18,664 | PDF p. 80 Label p. 80 |
| Non-controlling interestsChinese yuan thousands | (6,846) | (1,807) | PDF p. 80 |
| SubtotalChinese yuan thousands | (262,029) | 16,857 | PDF p. 80 |
| Total comprehensive income attributable to: | |||
| Owners of the CompanyChinese yuan thousands | (256,215) | 15,120 | PDF p. 80 |
| Non-controlling interestsChinese yuan thousands | (6,846) | (1,807) | PDF p. 80 |
| SubtotalChinese yuan thousands | (263,061) | 13,313 | PDF p. 80 |
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Definitions & sources
Original report: PDF p. 80 ↗
Basic / diluted EPS — FY2026 source
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| (Loss)/earnings per share for (loss)/profi t attributable to owners of | |||
| - Basic and dilutedChinese yuan cents per share | (49.81) | 3.64 | PDF p. 80 |
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Original report: PDF p. 80 ↗
Group equity movements — FY2026 source — ending2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group — Share capital | 2025Group — Treasury shares | 2025Group — Merger reserve | 2025Group — Statutory reserve | 2025Group — Capital reserve | 2025Group — Other reserve | 2025Group — Fair value through other comprehensive income reserve | 2025Group — Exchange reserve | 2025Group — Retained earnings | 2025Group — Equity attributable to owners | 2025Group — Non-controlling interests | 2025Group — Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group equity movements — FY2026 source | |||||||||||||
| As at 1 April 2024Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 100,173 | 3,838 | 85,452 | (6,128) | (11,375) | 815,251 | 1,024,392 | 25,499 | 1,049,891 | PDF p. 83 |
| Profi t/(loss) for the yearChinese yuan thousands | – | – | – | – | – | – | – | – | 18,664 | 18,664 | (1,807) | 16,857 | PDF p. 83 |
| Other comprehensive | |||||||||||||
| Changes in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | – | – | – | – | – | – | (3,650) | – | – | (3,650) | – | (3,650) | PDF p. 83 Label p. 83 |
| Exchange diff erences on translation of fi nancial statements of foreign operationsChinese yuan thousands | – | – | – | – | – | – | – | 106 | – | 106 | – | 106 | PDF p. 83 Label p. 83 |
| Total comprehensive income for the yearChinese yuan thousands | – | – | – | – | – | – | (3,650) | 106 | 18,664 | 15,120 | (1,807) | 13,313 | PDF p. 83 Label p. 83 |
| Deregistration of a subsidiaryChinese yuan thousands | – | – | – | (6,884) | – | – | – | – | 6,884 | – | – | – | PDF p. 83 |
| Transfer to statutory reservesChinese yuan thousands | – | – | – | 5,084 | – | – | – | – | (5,084) | – | – | – | PDF p. 83 |
| As at 31 March 2025Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 98,373 | 3,838 | 85,452 | (9,778) | (11,269) | 835,715 | 1,039,512 | 23,692 | 1,063,204 | PDF p. 83 |
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Definitions & sources
Original report: PDF p. 83 ↗
Group equity movements — FY2026 source — ending2026
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group — Share capital | 2026Group — Treasury shares | 2026Group — Merger reserve | 2026Group — Statutory reserve | 2026Group — Capital reserve | 2026Group — Other reserve | 2026Group — Fair value through other comprehensive income reserve | 2026Group — Exchange reserve | 2026Group — Retained earnings | 2026Group — Equity attributable to owners | 2026Group — Non-controlling interests | 2026Group — Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group equity movements — FY2026 source | |||||||||||||
| As at 1 April 2025Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 98,373 | 3,838 | 85,452 | (9,778) | (11,269) | 835,715 | 1,039,512 | 23,692 | 1,063,204 | PDF p. 83 |
| Loss for the yearChinese yuan thousands | – | – | – | – | – | – | – | – | (255,183) | (255,183) | (6,846) | (262,029) | PDF p. 83 |
| Other comprehensive | |||||||||||||
| Changes in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | – | – | – | – | – | – | (1,280) | – | – | (1,280) | – | (1,280) | PDF p. 83 Label p. 83 |
| Exchange diff erences on translation of fi nancial statements of foreign operationsChinese yuan thousands | – | – | – | – | – | – | – | 248 | – | 248 | – | 248 | PDF p. 83 Label p. 83 |
| Total comprehensive income for the yearChinese yuan thousands | – | – | – | – | – | – | (1,280) | 248 | (255,183) | (256,215) | (6,846) | (263,061) | PDF p. 83 Label p. 83 |
| As at 31 March 2026Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 98,373 | 3,838 | 85,452 | (11,058) | (11,021) | 580,532 | 783,297 | 16,846 | 800,143 | PDF p. 83 |
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Original report: PDF p. 83 ↗
Consolidated cash flows — physical82 — FY2026 source
40 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Cash fl ows from operating activities | |||
| (Loss)/profi t before income taxChinese yuan thousands | (281,176) | 28,795 | PDF p. 82 |
| Adjustments for: | |||
| Interest incomeChinese yuan thousands | (1,409) | (2,023) | PDF p. 82 |
| Interest expenseChinese yuan thousands | 4,174 | 2,303 | PDF p. 82 |
| Written down of properties held for saleChinese yuan thousands | 204,319 | 15,123 | PDF p. 82 |
| Written down of properties held under developmentChinese yuan thousands | 34,736 | – | PDF p. 82 |
| Depreciation of property, plant and equipmentChinese yuan thousands | 4,695 | 5,103 | PDF p. 82 |
| Gain on disposal of property, plant and equipmentChinese yuan thousands | (2,345) | (5) | PDF p. 82 |
| Gain on disposal of interest in an associateChinese yuan thousands | – | (77) | PDF p. 82 |
| Gain on disposal of fi nancial assets at fair value through profi t or lossChinese yuan thousands | (7) | – | PDF p. 82 |
| Net fair value loss on fi nancial assets at fair value through profi t or lossChinese yuan thousands | – | 2 | PDF p. 82 |
| Net fair value loss on investment propertiesChinese yuan thousands | 25,947 | 1,769 | PDF p. 82 |
| Provision for impairment losses under expected credit loss modelChinese yuan thousands | 9,399 | 4,184 | PDF p. 82 |
| Share of loss of an associateChinese yuan thousands | – | 15 | PDF p. 82 |
| Operating (loss)/profi t before working capital changesChinese yuan thousands | (1,667) | 55,189 | PDF p. 82 |
| Decrease in properties held under development and properties held for saleChinese yuan thousands | 140,939 | 117,187 | PDF p. 82 |
| Decrease in other receivables and prepaymentsChinese yuan thousands | 22,778 | 19,247 | PDF p. 82 |
| Decrease in contract cost assetsChinese yuan thousands | 4,274 | 8,589 | PDF p. 82 |
| Decrease in fi nancial assets at fair value through profi t or lossChinese yuan thousands | 59 | – | PDF p. 82 |
| Decrease in restricted bank balancesChinese yuan thousands | – | 79,436 | PDF p. 82 |
| Decrease in other payables, accruals and contract liabilitiesChinese yuan thousands | (137,792) | (251,724) | PDF p. 82 |
| Cash generated from operationsChinese yuan thousands | 28,591 | 27,924 | PDF p. 82 |
| Interest receivedChinese yuan thousands | 232 | 715 | PDF p. 82 |
| Income taxes paidChinese yuan thousands | (56,859) | (24,303) | PDF p. 82 |
| Net cash (used in)/generated from operating activitiesChinese yuan thousands | (28,036) | 4,336 | PDF p. 82 |
| Cash fl ows from investing activities | |||
| Purchases of property, plant and equipmentChinese yuan thousands | (320) | (1,116) | PDF p. 82 |
| Sales proceeds received from disposal of property, plant and equipmentChinese yuan thousands | 4,501 | 5 | PDF p. 82 |
| Sales proceeds received from disposal of investment propertiesChinese yuan thousands | 15,421 | – | PDF p. 82 |
| Proceeds from liquidation of an associateChinese yuan thousands | – | 1,856 | PDF p. 82 |
| Net cash generated from investing activitiesChinese yuan thousands | 19,602 | 745 | PDF p. 82 |
| Cash fl ows from fi nancing activities | |||
| Advances from related partiesChinese yuan thousands | 42,680 | – | PDF p. 82 |
| Repayments to related partiesChinese yuan thousands | (34,500) | (500) | PDF p. 82 |
| Proceeds from new borrowingsChinese yuan thousands | 42,355 | 78,100 | PDF p. 82 |
| Repayments of borrowingsChinese yuan thousands | (54,510) | (62,659) | PDF p. 82 |
| Interest paidChinese yuan thousands | (3,300) | (4,305) | PDF p. 82 |
| Net cash (used in)/generated from fi nancing activitiesChinese yuan thousands | (7,275) | 10,636 | PDF p. 82 |
| Net (decrease)/increase in cash and cash equivalentsChinese yuan thousands | (15,709) | 15,717 | PDF p. 82 |
| Eff ect of foreign exchange diff erenceChinese yuan thousands | (143) | 122 | PDF p. 82 |
| Cash and cash equivalents at beginning of the yearChinese yuan thousands | 29,469 | 13,630 | PDF p. 82 |
| Cash and cash equivalents at end of the yearChinese yuan thousands | 13,617 | 29,469 | PDF p. 82 |
| Analysis of the balances of cash and cash equivalents: Cash and bank balancesChinese yuan thousands | 13,617 | 29,469 | PDF p. 82 Label p. 82 |
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Original report: PDF p. 82 ↗
Current financial highlights — reported amounts / margin
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Current financial highlights — reported amounts / margin | |||
| RevenueChinese yuan thousands | 179,235 | 319,971 | PDF p. 6 |
| Gross (loss)/profitChinese yuan thousands | (211,209) | 67,215 | PDF p. 6 |
| Gross (loss)/profit margin% | (117.8) | 21.0 | PDF p. 6 |
| (Loss)/Profit after taxChinese yuan thousands | (262,029) | 16,857 | PDF p. 6 |
| (Loss)/Profit attributable to the owners of the CompanyChinese yuan thousands | (255,183) | 18,664 | PDF p. 6 |
| ResidentialChinese yuan thousands | 160,084 | 300,363 | PDF p. 6 |
| Commercial and othersChinese yuan thousands | 19,151 | 19,608 | PDF p. 6 |
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Original report: PDF p. 6 ↗
Current financial highlights — original changes
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026FY2026 versus FY2025 change | Source |
|---|---|---|
| Current financial highlights — original changes | ||
| Revenue% | (44.0) | PDF p. 6 |
| Gross (loss)/profit% | (414.2) | PDF p. 6 |
| Gross (loss)/profit marginpercentage points | (138.8) | PDF p. 6 |
| (Loss)/Profit after tax% | (1,654.4) | PDF p. 6 |
| (Loss)/Profit attributable to the owners of the Company% | (1,467.2) | PDF p. 6 |
| Residential% | (46.7) | PDF p. 6 |
| Commercial and others% | (2.3) | PDF p. 6 |
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Original report: PDF p. 6 ↗
Five-year highlights — original bar chart labels
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group — original chart | 2023Group — original chart | 2024Group — original chart | 2025Group — original chart | 2026Group — original chart | Source |
|---|---|---|---|---|---|---|
| Five-year highlights — original bar chart labels | ||||||
| RevenueChinese yuan millions | 314.7 | 31.0 | 349.1 | 320.0 | 179.2 | PDF p. 7 |
| Cash and Bank BalancesChinese yuan millions | 28.1 | 212.2 | 93.1 | 29.5 | 13.6 | PDF p. 7 |
| (Loss)/Profit after taxChinese yuan millions | 68.8 | (6.7) | 36.9 | 16.9 | (262.0) | PDF p. 7 |
| Net Gearing%:% | 29.6 | 31.1 | 9.8 | 11.1 | 13.3 | PDF p. 7 |
| (Loss)/Earnings per share attributableChinese yuan cents per share | 13.53 | (1.24) | 6.06 | 3.64 | (49.81) | PDF p. 7 |
| Net Asset Value per shareChinese yuan cents per share | 199.64 | 197.97 | 204.93 | 207.53 | 156.18 | PDF p. 7 |
| Net AssetChinese yuan millions | 1,022.8 | 1,014.2 | 1,049.2 | 1,063.2 | 800.1 | PDF p. 7 |
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Original report: PDF p. 7 ↗
Original bar labels and x-axis years verified on the PDF image, not text reading order. Cash and Bank Balances chart actually matches primary cash equivalents and not the broader bank-balance rows. Net AssetFY2024prints1,049.2million, while originalFY2024balance1049891thousand rounds1049.9million; both source versions are retained. Source net gearing formula is Total Bank and Other Loans/Total equity. The malformed25.%is an axis tick, not a data label.
Group EPS calculation inputs — Note11
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group EPS calculation | 2025Group EPS calculation | Source |
|---|---|---|---|
| Group EPS calculation inputs — Note11 | |||
| ((loss)/profit for the year attributable to owners of the Company)Chinese yuan thousands | (255,183) | 18,664 | PDF p. 103 |
| Number of ordinary shares in issue during the year for the purpose ofordinary shares | 512,311,024 | 512,311,024 | PDF p. 103 |
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Original report: PDF p. 103 ↗
No dilutive potential shares in current/prior year; basic equals diluted. Board resolved not to declare final dividend forFY2026andFY2025; no numeric zero is inferred from narrative.
Company reserves — Note27
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Company | 2025Company | Source |
|---|---|---|---|
| Company reserves — Note27 | |||
| Treasury shares (note 26)Chinese yuan thousands | (12,817) | (12,817) | PDF p. 118 |
| Merger reserveChinese yuan thousands | 59,579 | 59,579 | PDF p. 118 |
| Retained earningsChinese yuan thousands | 218,478 | 221,040 | PDF p. 118 |
| FVOCI reserveChinese yuan thousands | (5,577) | (4,806) | PDF p. 118 |
| SubtotalChinese yuan thousands | 259,663 | 262,996 | PDF p. 118 |
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Original report: PDF p. 118 ↗
Group / Company balance sheets — FY2024 source
33 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group | 2023Group | 2024Company | 2023Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipmentChinese yuan thousands | 47,782 | 52,039 | – | – | PDF p. 76 |
| Investment propertiesChinese yuan thousands | 70,450 | 58,580 | – | – | PDF p. 76 |
| Investments in subsidiariesChinese yuan thousands | – | – | 278,608 | 278,608 | PDF p. 76 |
| Interest in an associateChinese yuan thousands | 1,794 | 1,806 | – | – | PDF p. 76 |
| Financial asset at fair value through other comprehensive incomeChinese yuan thousands | 25,220 | 26,547 | 15,193 | 15,992 | PDF p. 76 Label p. 76 |
| Deferred tax assetsChinese yuan thousands | 3,613 | 6,551 | – | – | PDF p. 76 |
| SubtotalChinese yuan thousands | 148,859 | 145,523 | 293,801 | 294,600 | PDF p. 76 |
| Current assets | |||||
| Properties held under developmentChinese yuan thousands | 1,346,491 | 1,633,603 | – | – | PDF p. 76 |
| Properties held for saleChinese yuan thousands | 478,604 | 156,601 | – | – | PDF p. 76 |
| Contract cost assetsChinese yuan thousands | 15,359 | 15,581 | – | – | PDF p. 76 |
| Prepayments and other receivablesChinese yuan thousands | 96,076 | 109,986 | 236 | 125 | PDF p. 76 |
| Amounts due from subsidiariesChinese yuan thousands | – | – | 365,554 | 365,554 | PDF p. 76 |
| Financial assets at fair value through profi t or lossChinese yuan thousands | 54 | 80 | – | – | PDF p. 76 Label p. 76 |
| Tax recoverableChinese yuan thousands | 11,648 | 18,096 | – | – | PDF p. 76 |
| Cash and bank balancesChinese yuan thousands | 93,066 | 212,201 | 154 | 153 | PDF p. 76 |
| SubtotalChinese yuan thousands | 2,041,298 | 2,146,148 | 365,944 | 365,832 | PDF p. 76 |
| Current liabilities | |||||
| Accruals and other payablesChinese yuan thousands | 341,201 | 232,713 | 24 | 24 | PDF p. 76 |
| Contract liabilitiesChinese yuan thousands | 503,256 | 532,933 | – | – | PDF p. 76 |
| Current tax liabilitiesChinese yuan thousands | 100,874 | 104,655 | – | – | PDF p. 76 |
| Amounts due to related partiesChinese yuan thousands | 87,786 | 87,297 | 340,735 | 337,817 | PDF p. 76 |
| Bank and other loansChinese yuan thousands | 63,268 | 285,611 | – | – | PDF p. 76 |
| SubtotalChinese yuan thousands | 1,096,385 | 1,243,209 | 340,759 | 337,841 | PDF p. 76 |
| Net current assetsChinese yuan thousands | 944,913 | 902,939 | 25,185 | 27,991 | PDF p. 76 |
| Total assets less current liabilitiesChinese yuan thousands | 1,093,772 | 1,048,462 | 318,986 | 322,591 | PDF p. 76 |
| Non-current liabilities | |||||
| Bank and other loansChinese yuan thousands | 39,500 | 30,000 | – | – | PDF p. 76 |
| Deferred tax liabilitiesChinese yuan thousands | 4,381 | 4,260 | – | – | PDF p. 76 |
| SubtotalChinese yuan thousands | 43,881 | 34,260 | – | – | PDF p. 76 |
| Net assetsChinese yuan thousands | 1,049,891 | 1,014,202 | 318,986 | 322,591 | PDF p. 76 |
| Company | |||||
| Share capitalChinese yuan thousands | 52,241 | 52,241 | 52,241 | 52,241 | PDF p. 76 |
| ReservesChinese yuan thousands | 972,151 | 942,296 | 266,745 | 270,350 | PDF p. 76 |
| SubtotalChinese yuan thousands | 1,024,392 | 994,537 | 318,986 | 322,591 | PDF p. 76 |
| Non-controlling interestsChinese yuan thousands | 25,499 | 19,665 | – | – | PDF p. 76 |
| Total equityChinese yuan thousands | 1,049,891 | 1,014,202 | 318,986 | 322,591 | PDF p. 76 |
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Original report: PDF p. 76 ↗
Consolidated profit / comprehensive income — FY2024 source
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group | 2023Group | Source |
|---|---|---|---|
| Consolidated profit / comprehensive income — FY2024 source | |||
| RevenueChinese yuan thousands | 349,085 | 31,049 | PDF p. 75 |
| Cost of salesChinese yuan thousands | (246,466) | (16,246) | PDF p. 75 |
| Gross profi tChinese yuan thousands | 102,619 | 14,803 | PDF p. 75 |
| Other income and other gains and lossesChinese yuan thousands | 6,870 | 1,461 | PDF p. 75 |
| Selling and distribution expensesChinese yuan thousands | (26,723) | (8,231) | PDF p. 75 |
| Administrative expensesChinese yuan thousands | (18,002) | (16,511) | PDF p. 75 |
| Share of loss of an associateChinese yuan thousands | (12) | (12) | PDF p. 75 |
| Operating profi t/(loss)Chinese yuan thousands | 64,752 | (8,490) | PDF p. 75 |
| Finance costsChinese yuan thousands | (2,195) | (3,804) | PDF p. 75 |
| Profi t/(loss) before income taxChinese yuan thousands | 62,557 | (12,294) | PDF p. 75 |
| Income tax (expense)/creditChinese yuan thousands | (25,661) | 5,557 | PDF p. 75 |
| Profi t/(loss) for the yearChinese yuan thousands | 36,896 | (6,737) | PDF p. 75 |
| Item that will not be reclassifi ed to profi t or loss: | |||
| Change in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | (1,327) | (931) | PDF p. 75 Label p. 75 |
| Item that may be reclassifi ed to profi t or loss: | |||
| Exchange differences on translation of fi nancial statements of foreign operationsChinese yuan thousands | 120 | (907) | PDF p. 75 Label p. 75 |
| Other comprehensive income for the yearChinese yuan thousands | (1,207) | (1,838) | PDF p. 75 |
| Total comprehensive income for the yearChinese yuan thousands | 35,689 | (8,575) | PDF p. 75 |
| Profi t/(loss) for the year attributable to: Owners of the CompanyChinese yuan thousands | 31,062 | (6,330) | PDF p. 75 Label p. 75 |
| Non-controlling interestsChinese yuan thousands | 5,834 | (407) | PDF p. 75 |
| SubtotalChinese yuan thousands | 36,896 | (6,737) | PDF p. 75 |
| Total comprehensive income attributable to: | |||
| Owners of the CompanyChinese yuan thousands | 29,855 | (8,168) | PDF p. 75 |
| Non-controlling interestsChinese yuan thousands | 5,834 | (407) | PDF p. 75 |
| SubtotalChinese yuan thousands | 35,689 | (8,575) | PDF p. 75 |
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Definitions & sources
Original report: PDF p. 75 ↗
Basic / diluted EPS — FY2024 source
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group | 2023Group | Source |
|---|---|---|---|
| Company during the year (in RMB cents): | |||
| - Basic and dilutedChinese yuan cents per share | 6.06 | (1.24) | PDF p. 75 |
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Definitions & sources
Original report: PDF p. 75 ↗
Group equity movements — FY2024 source — ending2023
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group — Share capital | 2023Group — Treasury shares | 2023Group — Merger reserve | 2023Group — Statutory reserve | 2023Group — Capital reserve | 2023Group — Other reserve | 2023Group — Fair value through other comprehensive income reserve | 2023Group — Exchange reserve | 2023Group — Retained earnings | 2023Group — Equity attributable to owners | 2023Group — Non-controlling interests | 2023Group — Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group equity movements — FY2024 source | |||||||||||||
| As at 1 April 2022Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 94,433 | 3,838 | 85,452 | (3,870) | (10,588) | 796,259 | 1,002,705 | 20,072 | 1,022,777 | PDF p. 78 |
| Loss for the yearChinese yuan thousands | – | – | – | – | – | – | – | – | (6,330) | (6,330) | (407) | (6,737) | PDF p. 78 |
| Other comprehensive income | |||||||||||||
| Changes in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | – | – | – | – | – | – | (931) | – | – | (931) | – | (931) | PDF p. 78 Label p. 78 |
| Exchange differences on translation of fi nancial statements of foreign operationsChinese yuan thousands | – | – | – | – | – | – | – | (907) | – | (907) | – | (907) | PDF p. 78 Label p. 78 |
| Total comprehensive income for the yearChinese yuan thousands | – | – | – | – | – | – | (931) | (907) | (6,330) | (8,168) | (407) | (8,575) | PDF p. 78 Label p. 78 |
| Transfer to statutory reservesChinese yuan thousands | – | – | – | 1,224 | – | – | – | – | (1,224) | – | – | – | PDF p. 78 |
| As at 31 March 2023Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 95,657 | 3,838 | 85,452 | (4,801) | (11,495) | 788,705 | 994,537 | 19,665 | 1,014,202 | PDF p. 78 |
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Definitions & sources
Original report: PDF p. 78 ↗
Group equity movements — FY2024 source — ending2024
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group — Share capital | 2024Group — Treasury shares | 2024Group — Merger reserve | 2024Group — Statutory reserve | 2024Group — Capital reserve | 2024Group — Other reserve | 2024Group — Fair value through other comprehensive income reserve | 2024Group — Exchange reserve | 2024Group — Retained earnings | 2024Group — Equity attributable to owners | 2024Group — Non-controlling interests | 2024Group — Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other comprehensive income | |||||||||||||
| As at 1 April 2023Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 95,657 | 3,838 | 85,452 | (4,801) | (11,495) | 788,705 | 994,537 | 19,665 | 1,014,202 | PDF p. 78 |
| Profi t for the yearChinese yuan thousands | – | – | – | – | – | – | – | – | 31,062 | 31,062 | 5,834 | 36,896 | PDF p. 78 |
| Changes in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | – | – | – | – | – | – | (1,327) | – | – | (1,327) | – | (1,327) | PDF p. 78 Label p. 78 |
| Exchange differences on translation of fi nancial statements of foreign operationsChinese yuan thousands | – | – | – | – | – | – | – | 120 | – | 120 | – | 120 | PDF p. 78 Label p. 78 |
| Total comprehensive income for the yearChinese yuan thousands | (1,327) | 120 | 31,062 | 29,855 | 5,834 | 35,689 | PDF p. 78 Label p. 78 | ||||||
| Transfer to statutory reservesChinese yuan thousands | – | – | – | 4,516 | – | – | – | – | (4,516) | – | – | – | PDF p. 78 |
| As at 31 March 2024Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 100,173 | 3,838 | 85,452 | (6,128) | (11,375) | 815,251 | 1,024,392 | 25,499 | 1,049,891 | PDF p. 78 |
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Definitions & sources
Original report: PDF p. 78 ↗
Consolidated cash flows — physical77 — FY2024 source
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group | 2023Group | Source |
|---|---|---|---|
| Cash fl ows from operating activities | |||
| Profi t/(loss) before income taxChinese yuan thousands | 62,557 | (12,294) | PDF p. 77 |
| Adjustments for: | |||
| Interest incomeChinese yuan thousands | (3,548) | (917) | PDF p. 77 |
| Interest expenseChinese yuan thousands | 2,195 | 3,804 | PDF p. 77 |
| Depreciation of property, plant and equipmentChinese yuan thousands | 4,822 | 3,891 | PDF p. 77 |
| Loss on written-off of property, plant and equipmentChinese yuan thousands | – | 23 | PDF p. 77 |
| Gain on disposal of fi nancial assets at fair value through profi t or lossChinese yuan thousands | – | (24) | PDF p. 77 |
| Net fair value loss/(gain) on fi nancial assets at fair value through profi t or lossChinese yuan thousands | 26 | (8) | PDF p. 77 |
| Net fair value (gain)/loss of investment propertiesChinese yuan thousands | (796) | 1,757 | PDF p. 77 |
| Provision for impairment losses under expected credit loss modelChinese yuan thousands | 842 | – | PDF p. 77 |
| Share of loss of an associateChinese yuan thousands | 12 | 12 | PDF p. 77 |
| Operating profi t/(loss) before working capital changesChinese yuan thousands | 66,110 | (3,756) | PDF p. 77 |
| Increase in properties held under development and properties held for saleChinese yuan thousands | (40,083) | (281,739) | PDF p. 77 |
| Decrease in other receivables and prepaymentsChinese yuan thousands | 13,068 | 37,312 | PDF p. 77 |
| Decrease/(increase) in contract cost assetsChinese yuan thousands | 222 | (15,581) | PDF p. 77 |
| Decrease/(increase) in restricted bank balancesChinese yuan thousands | 92,391 | (168,206) | PDF p. 77 |
| Decrease in fi nancial assets at fair value through profi t or lossChinese yuan thousands | – | 228 | PDF p. 77 |
| Increase in other payables, accruals and contract liabilitiesChinese yuan thousands | 78,811 | 478,869 | PDF p. 77 |
| Cash generated from operationsChinese yuan thousands | 210,519 | 47,127 | PDF p. 77 |
| Interest receivedChinese yuan thousands | 3,548 | 917 | PDF p. 77 |
| Income taxes paidChinese yuan thousands | (20,056) | (21,446) | PDF p. 77 |
| Net cash generated from operating activitiesChinese yuan thousands | 194,011 | 26,598 | PDF p. 77 |
| Cash fl ows from investing activity | |||
| Purchases of property, plant and equipmentChinese yuan thousands | (116) | (1,002) | PDF p. 77 |
| Net cash used in investing activityChinese yuan thousands | (116) | (1,002) | PDF p. 77 |
| Cash fl ows from fi nancing activities | |||
| Advance from related partiesChinese yuan thousands | – | 300 | PDF p. 77 |
| Proceed from new borrowingsChinese yuan thousands | 35,000 | 85,000 | PDF p. 77 |
| Repayments of borrowingsChinese yuan thousands | (248,125) | (72,510) | PDF p. 77 |
| Interest paidChinese yuan thousands | (8,104) | (22,514) | PDF p. 77 |
| Net cash used in fi nancing activitiesChinese yuan thousands | (221,229) | (9,724) | PDF p. 77 |
| Net (decrease)/ increase in cash and cash equivalentsChinese yuan thousands | (27,334) | 15,872 | PDF p. 77 |
| Effect of foreign exchange differenceChinese yuan thousands | 590 | 50 | PDF p. 77 |
| Cash and cash equivalents at beginning of the yearChinese yuan thousands | 40,374 | 24,452 | PDF p. 77 |
| Cash and cash equivalents at end of the yearChinese yuan thousands | 13,630 | 40,374 | PDF p. 77 |
| Analysis of the balances of cash and cash equivalents: Cash and bank balancesChinese yuan thousands | 93,066 | 212,201 | PDF p. 77 Label p. 77 |
| Less: restricted bank balancesChinese yuan thousands | (79,436) | (171,827) | PDF p. 77 |
| SubtotalChinese yuan thousands | 13,630 | 40,374 | PDF p. 77 |
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Definitions & sources
Original report: PDF p. 77 ↗
Group EPS calculation inputs — Note11 — FY2024 source
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group EPS calculation | 2023Group EPS calculation | Source |
|---|---|---|---|
| EPS calculation inputs — original monetary numerator | |||
| (loss) for the year attributable to owners of the Company)Chinese yuan thousands | 31,062 | (6,330) | PDF p. 96 |
| EPS calculation inputs — share count | |||
| Number of ordinary shares in issue during the year for the purpose ofordinary shares | 512,311,024 | 512,311,024 | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
No dilutive potential shares in current/prior year; diluted equals basic.
Group / Company balance sheets — FY2022 source
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group | 2021Group | 2022Company | 2021Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipmentChinese yuan thousands | 46,164 | 56,815 | – | – | PDF p. 68 |
| Investment propertiesChinese yuan thousands | 59,420 | 53,475 | – | – | PDF p. 68 |
| Investments in subsidiariesChinese yuan thousands | – | – | 278,608 | 278,608 | PDF p. 68 |
| Interests in associatesChinese yuan thousands | 1,818 | 2,000 | – | – | PDF p. 68 |
| Financial asset at fair value through other comprehensive incomeChinese yuan thousands | 27,478 | 28,464 | 16,553 | 17,147 | PDF p. 68 Label p. 68 |
| Deferred tax assetsChinese yuan thousands | 6,551 | 5,669 | – | – | PDF p. 68 |
| SubtotalChinese yuan thousands | 141,431 | 146,423 | 295,161 | 295,755 | PDF p. 68 |
| Current assets | |||||
| Properties held under developmentChinese yuan thousands | 573,593 | 434,519 | – | – | PDF p. 68 |
| Properties held for saleChinese yuan thousands | 187,142 | 387,476 | – | – | PDF p. 68 |
| Accounts receivableChinese yuan thousands | – | 15,884 | – | – | PDF p. 68 |
| Prepayments and other receivablesChinese yuan thousands | 885,808 | 263,822 | 125 | 125 | PDF p. 68 |
| Amounts due from subsidiariesChinese yuan thousands | – | – | 365,554 | 352,183 | PDF p. 68 |
| Financial assets at fair value through profi t or lossChinese yuan thousands | 276 | 28,288 | – | – | PDF p. 68 Label p. 68 |
| Tax recoverableChinese yuan thousands | 13,565 | 27,348 | – | – | PDF p. 68 |
| Cash and bank balancesChinese yuan thousands | 28,073 | 369,638 | 154 | 154 | PDF p. 68 |
| SubtotalChinese yuan thousands | 1,688,457 | 1,526,975 | 365,833 | 352,462 | PDF p. 68 |
| Current liabilities | |||||
| Accounts payableChinese yuan thousands | – | 3,714 | – | – | PDF p. 68 |
| Accruals and other payablesChinese yuan thousands | 259,141 | 216,996 | 24 | 23 | PDF p. 68 |
| Contract liabilitiesChinese yuan thousands | 27,636 | 231,711 | – | – | PDF p. 68 |
| Current tax liabilitiesChinese yuan thousands | 126,688 | 214,511 | – | – | PDF p. 68 |
| Amounts due to related partiesChinese yuan thousands | 86,337 | 143 | 335,566 | 333,480 | PDF p. 68 |
| Bank and other loansChinese yuan thousands | 27,520 | 10,251 | – | – | PDF p. 68 |
| SubtotalChinese yuan thousands | 527,322 | 677,326 | 335,590 | 333,503 | PDF p. 68 |
| Net current assetsChinese yuan thousands | 1,161,135 | 849,649 | 30,243 | 18,959 | PDF p. 68 |
| Total assets less current liabilitiesChinese yuan thousands | 1,302,566 | 996,072 | 325,404 | 314,714 | PDF p. 68 |
| Non-current liabilities | |||||
| Bank and other loansChinese yuan thousands | 275,000 | – | – | – | PDF p. 68 |
| Deferred tax liabilitiesChinese yuan thousands | 4,789 | 4,632 | – | – | PDF p. 68 |
| SubtotalChinese yuan thousands | 279,789 | 4,632 | – | – | PDF p. 68 |
| Net assetsChinese yuan thousands | 1,022,777 | 991,440 | 325,404 | 314,714 | PDF p. 68 |
| Equity attributable to owners of | |||||
| the Company Share capitalChinese yuan thousands | 52,241 | 52,241 | 52,241 | 52,241 | PDF p. 68 Label p. 68 |
| ReservesChinese yuan thousands | 950,464 | 918,607 | 273,163 | 262,473 | PDF p. 68 |
| SubtotalChinese yuan thousands | 1,002,705 | 970,848 | 325,404 | 314,714 | PDF p. 68 |
| Non-controlling interestsChinese yuan thousands | 20,072 | 20,592 | – | – | PDF p. 68 |
| Total equityChinese yuan thousands | 1,022,777 | 991,440 | 325,404 | 314,714 | PDF p. 68 |
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Definitions & sources
Original report: PDF p. 68 ↗
Consolidated profit / comprehensive income — FY2022 source
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group | 2021Group | Source |
|---|---|---|---|
| Consolidated profit / comprehensive income — FY2022 source | |||
| RevenueChinese yuan thousands | 314,717 | 1,340,865 | PDF p. 67 |
| Cost of salesChinese yuan thousands | (205,819) | (848,572) | PDF p. 67 |
| Gross profi tChinese yuan thousands | 108,898 | 492,293 | PDF p. 67 |
| Other income and other gains and lossesChinese yuan thousands | 32,645 | 28,290 | PDF p. 67 |
| Selling and distribution expensesChinese yuan thousands | (9,532) | (68,100) | PDF p. 67 |
| Administrative expensesChinese yuan thousands | (19,297) | (17,297) | PDF p. 67 |
| Share of loss of an associateChinese yuan thousands | (182) | – | PDF p. 67 |
| Operating profi tChinese yuan thousands | 112,532 | 435,186 | PDF p. 67 |
| Finance costsChinese yuan thousands | (735) | (361) | PDF p. 67 |
| Profi t before income taxChinese yuan thousands | 111,797 | 434,825 | PDF p. 67 |
| Income tax expenseChinese yuan thousands | (43,000) | (158,096) | PDF p. 67 |
| Profi t for the yearChinese yuan thousands | 68,797 | 276,729 | PDF p. 67 |
| Item that will not be reclassifi ed to profi t or loss: | |||
| Change in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | (986) | (3,086) | PDF p. 67 Label p. 67 |
| Item that may be reclassifi ed to profi t or loss: | |||
| Exchange differences on translation of fi nancial statements of foreign operationsChinese yuan thousands | 155 | 362 | PDF p. 67 Label p. 67 |
| Other comprehensive income for the yearChinese yuan thousands | (831) | (2,724) | PDF p. 67 |
| Total comprehensive income for the yearChinese yuan thousands | 67,966 | 274,005 | PDF p. 67 |
| Profi t/(loss) for the year attributable to: Owners of the CompanyChinese yuan thousands | 69,317 | 276,816 | PDF p. 67 Label p. 67 |
| Non-controlling interestsChinese yuan thousands | (520) | (87) | PDF p. 67 |
| SubtotalChinese yuan thousands | 68,797 | 276,729 | PDF p. 67 |
| Total comprehensive income attributable to: | |||
| Owners of the CompanyChinese yuan thousands | 68,486 | 274,092 | PDF p. 67 |
| Non-controlling interestsChinese yuan thousands | (520) | (87) | PDF p. 67 |
| SubtotalChinese yuan thousands | 67,966 | 274,005 | PDF p. 67 |
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Definitions & sources
Original report: PDF p. 67 ↗
Basic / diluted EPS — FY2022 source
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group | 2021Group | Source |
|---|---|---|---|
| Earnings per share for profi t attributable to owners of the Company | |||
| - Basic and dilutedChinese yuan cents per share | 13.53 | 54.03 | PDF p. 67 |
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Definitions & sources
Original report: PDF p. 67 ↗
Group equity movements — FY2022 source — ending2021
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group — Share capital | 2021Group — Treasury shares | 2021Group — Merger reserve | 2021Group — Statutory reserve | 2021Group — Capital reserve | 2021Group — Other reserve | 2021Group — Fair value through other comprehensive income reserve | 2021Group — Exchange reserve | 2021Group — Retained earnings | 2021Group — Equity attributable to owners | 2021Group — Non-controlling interests | 2021Group — Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group equity movements — FY2022 source | |||||||||||||
| At 1 April 2020Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 57,150 | 3,838 | 85,333 | 202 | (11,105) | 563,077 | 735,676 | 14,964 | 750,640 | PDF p. 71 |
| Transactions with owners Dividend declaredChinese yuan thousands | – | – | – | – | – | – | – | – | (39,039) | (39,039) | – | (39,039) | PDF p. 71 Label p. 71 |
| Capital contribution from non-controlling interestsChinese yuan thousands | – | – | – | – | – | 119 | – | – | – | 119 | 5,715 | 5,834 | PDF p. 71 Label p. 71 |
| SubtotalChinese yuan thousands | – | – | – | – | – | 119 | – | – | (39,039) | (38,920) | 5,715 | (33,205) | PDF p. 71 |
| Profi t/(loss) for the yearChinese yuan thousands | – | – | – | – | – | – | – | – | 276,816 | 276,816 | (87) | 276,729 | PDF p. 71 |
| Other comprehensive income | |||||||||||||
| Changes in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | – | – | – | – | – | – | (3,086) | – | – | (3,086) | – | (3,086) | PDF p. 71 Label p. 71 |
| Exchange differences on translation of fi nancial statements of foreign operationsChinese yuan thousands | – | – | – | – | – | – | – | 362 | – | 362 | – | 362 | PDF p. 71 Label p. 71 |
| Total comprehensive income for the yearChinese yuan thousands | – | – | – | – | – | – | (3,086) | 362 | 276,816 | 274,092 | (87) | 274,005 | PDF p. 71 Label p. 71 |
| Transfer to statutory reservesChinese yuan thousands | – | – | – | 30,280 | – | – | – | – | (30,280) | – | – | – | PDF p. 71 |
| At 31 March 2021 and at 1 April 2021Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 87,430 | 3,838 | 85,452 | (2,884) | (10,743) | 770,574 | 970,848 | 20,592 | 991,440 | PDF p. 71 Label p. 71 |
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Definitions & sources
Original report: PDF p. 71 ↗
Group equity movements — FY2022 source — ending2022
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group — Share capital | 2022Group — Treasury shares | 2022Group — Merger reserve | 2022Group — Statutory reserve | 2022Group — Capital reserve | 2022Group — Other reserve | 2022Group — Fair value through other comprehensive income reserve | 2022Group — Exchange reserve | 2022Group — Retained earnings | 2022Group — Equity attributable to owners | 2022Group — Non-controlling interests | 2022Group — Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Original shared closing/opening balance | |||||||||||||
| At 31 March 2021 and at 1 April 2021Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 87,430 | 3,838 | 85,452 | (2,884) | (10,743) | 770,574 | 970,848 | 20,592 | 991,440 | PDF p. 71 Label p. 71 |
| Other comprehensive income | |||||||||||||
| Transactions with owners Dividend declaredChinese yuan thousands | – | – | – | – | – | – | – | – | (36,629) | (36,629) | – | (36,629) | PDF p. 71 Label p. 71 |
| SubtotalChinese yuan thousands | – | – | – | – | – | – | – | – | (36,629) | (36,629) | – | (36,629) | PDF p. 71 |
| Profi t/(loss) for the yearChinese yuan thousands | – | – | – | – | – | – | – | – | 69,317 | 69,317 | (520) | 68,797 | PDF p. 71 |
| Changes in fair value of fi nancial asset at fair value through other comprehensive incomeChinese yuan thousands | – | – | – | – | – | – | (986) | – | – | (986) | – | (986) | PDF p. 71 Label p. 71 |
| Exchange differences on translation of fi nancial statements of foreign operationsChinese yuan thousands | – | – | – | – | – | – | – | 155 | – | 155 | – | 155 | PDF p. 71 Label p. 71 |
| Total comprehensive income for the yearChinese yuan thousands | – | – | – | – | – | – | (986) | 155 | 69,317 | 68,486 | (520) | 67,966 | PDF p. 71 Label p. 71 |
| Transfer to statutory reservesChinese yuan thousands | – | – | – | 7,003 | – | – | – | – | (7,003) | – | – | – | PDF p. 71 |
| At 31 March 2022Chinese yuan thousands | 52,241 | (12,817) | (2,243) | 94,433 | 3,838 | 85,452 | (3,870) | (10,588) | 796,259 | 1,002,705 | 20,072 | 1,022,777 | PDF p. 71 |
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Definitions & sources
Original report: PDF p. 71 ↗
Consolidated cash flows — physical69 — FY2022 source
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group | 2021Group | Source |
|---|---|---|---|
| Cash fl ows from operating activities | |||
| Profi t before income taxChinese yuan thousands | 111,797 | 434,825 | PDF p. 69 |
| Adjustments for: | |||
| Interest incomeChinese yuan thousands | (6,741) | (14,390) | PDF p. 69 |
| Interest expenseChinese yuan thousands | 735 | 361 | PDF p. 69 |
| Depreciation of property, plant and equipmentChinese yuan thousands | 2,224 | 2,706 | PDF p. 69 |
| Gain on disposal of property, plant and equipmentChinese yuan thousands | (10,910) | – | PDF p. 69 |
| Loss on written-off of property, plant and equipmentChinese yuan thousands | – | 2 | PDF p. 69 |
| Gain on disposal of fi nancial assets at fair value through profi t or lossChinese yuan thousands | (15,714) | (23,874) | PDF p. 69 |
| Net fair value loss on fi nancial assets at fair value through profi t or lossChinese yuan thousands | 3,686 | 9,285 | PDF p. 69 |
| Net fair value (gain)/loss of investment propertiesChinese yuan thousands | (437) | 388 | PDF p. 69 |
| Share of loss of an associateChinese yuan thousands | 182 | – | PDF p. 69 |
| Operating profi t before working capital changesChinese yuan thousands | 84,822 | 409,303 | PDF p. 69 |
| Decrease in properties held under development and properties held for saleChinese yuan thousands | 67,465 | 709,551 | PDF p. 69 |
| Increase in other receivables and prepaymentsChinese yuan thousands | (606,102) | (27,938) | PDF p. 69 |
| Decrease in contract cost assetsChinese yuan thousands | – | 57,384 | PDF p. 69 |
| (Increase)/decrease in restricted bank balancesChinese yuan thousands | (2,739) | 188,214 | PDF p. 69 |
| Decrease in fi nancial assets at fair value through profi t or lossChinese yuan thousands | 40,040 | 12,744 | PDF p. 69 |
| Decrease in accounts and other payables, accruals and contract liabilitiesChinese yuan thousands | (165,645) | (1,235,577) | PDF p. 69 |
| Cash (used in)/generated from operationsChinese yuan thousands | (582,159) | 113,681 | PDF p. 69 |
| Interest receivedChinese yuan thousands | 6,741 | 14,390 | PDF p. 69 |
| Income taxes (paid)/refundChinese yuan thousands | (117,922) | 17,986 | PDF p. 69 |
| Net cash (used in)/generated from operating activitiesChinese yuan thousands | (693,340) | 146,057 | PDF p. 69 |
| Cash fl ows from investing activities | |||
| Purchases of property, plant and equipmentChinese yuan thousands | (2,614) | (11,244) | PDF p. 69 |
| Capital contribution to an associateChinese yuan thousands | – | (2,000) | PDF p. 69 |
| Proceeds from disposals of property, plant and equipmentChinese yuan thousands | 21,385 | – | PDF p. 69 |
| Net cash generated from/(used in) investing activitiesChinese yuan thousands | 18,771 | (13,244) | PDF p. 69 |
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Definitions & sources
Original report: PDF p. 69 ↗
Consolidated cash flows — physical70 — FY2022 source
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group | 2021Group | Source |
|---|---|---|---|
| Cash fl ows from fi nancing activities | |||
| Advance from/(repayment to) related partiesChinese yuan thousands | 86,200 | (3,182) | PDF p. 70 |
| Proceed from new borrowingsChinese yuan thousands | 295,000 | – | PDF p. 70 |
| Repayments of borrowingsChinese yuan thousands | (2,367) | (8,569) | PDF p. 70 |
| Capital injection from non-controlling interestsChinese yuan thousands | – | 5,834 | PDF p. 70 |
| Dividend paidChinese yuan thousands | (36,629) | (39,039) | PDF p. 70 |
| Interest paidChinese yuan thousands | (12,214) | (361) | PDF p. 70 |
| Net cash generated from/(used in) fi nancing activitiesChinese yuan thousands | 329,990 | (45,317) | PDF p. 70 |
| Net (decrease)/increase in cash and cash equivalentsChinese yuan thousands | (344,579) | 87,496 | PDF p. 70 |
| Effect of foreign exchange differenceChinese yuan thousands | 275 | 28 | PDF p. 70 |
| Cash and cash equivalents at beginning of the yearChinese yuan thousands | 368,756 | 281,232 | PDF p. 70 |
| Cash and cash equivalents at end of the yearChinese yuan thousands | 24,452 | 368,756 | PDF p. 70 |
| Analysis of the balances of cash and cash equivalents: Cash and bank balancesChinese yuan thousands | 28,073 | 369,638 | PDF p. 70 Label p. 70 |
| Less: restricted bank balancesChinese yuan thousands | (3,621) | (882) | PDF p. 70 |
| SubtotalChinese yuan thousands | 24,452 | 368,756 | PDF p. 70 |
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Definitions & sources
Original report: PDF p. 70 ↗
Group EPS calculation inputs — Note11 — FY2022 source
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group EPS calculation | 2021Group EPS calculation | Source |
|---|---|---|---|
| EPS calculation inputs — original monetary numerator | |||
| (profit for the year attributable to owners of the Company)Chinese yuan thousands | 69,317 | 276,816 | PDF p. 94 |
| EPS calculation inputs — share count | |||
| Number of ordinary shares in issue during the year for the purpose ofordinary shares | 512,311,024 | 512,311,024 | PDF p. 94 |
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Definitions & sources
Original report: PDF p. 94 ↗
No dilutive potential shares in current/prior year; diluted equals basic.
Paid final dividends for prior fiscal years — FY2022 source
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company — paid in fiscal year; relates to prior year | 2021Company — paid in fiscal year; relates to prior year | Source |
|---|---|---|---|
| Dividends | |||
| Final dividends paid in respect of prior yearChinese yuan thousands | 36,629 | 39,039 | PDF p. 94 |
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Definitions & sources
Original report: PDF p. 94 ↗
10. DIVIDENDS Dividends of the Company attributable to the years are as follows: 2022 2021 RMB’000 RMB’000 Final dividends paid in respect of prior year 36,629 39,039 On 28 May 2020, the directors proposed a final dividend of S$0.015 per ordinary share (tax not applicable), amounting to approximately S$7,685,000 (equivalent to RMB39,039,000) for the year ended 31 March 2020, and was formally approved by the shareholders at the annual general meeting held on 29 July 2020. On 25 May 2021, the directors proposed a first and final dividend of S$0.015 per ordinary share (tax not applicable), amounting to approximately S$7,685,000 (equivalent to RMB36,629,000) for the year ended 31 March 2021, and was formally approved by the shareholders at the annual general meeting being held on 28 July 2021. The Board has resolved not to declare final dividend to the Shareholders for the year ended 31 March 2022 (2021: S$0.015 per ordinary share).
Final dividends per ordinary share — FY2020/FY2021 declarations
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2020Company — dividend attributable fiscal year | 2021Company — dividend attributable fiscal year | Source |
|---|---|---|---|
| Declared final dividend per ordinary share | |||
| final dividend of S$0.015 per ordinary shareSingapore dollars per ordinary share | 0.015 | 0.015 | PDF p. 94 |
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Definitions & sources
Original report: PDF p. 94 ↗
FY2020proposed28May2020approved29July2020; FY2021proposed25May2021approved28July2021. No final dividend forFY2022. SGDper-share rates are separate from RMBcash amounts.
Debt
Borrowings
Liquidity risk - contractual maturity of interest-bearing bank and other loans, 31 March
| Item / unit | 2026Carrying amount, RMB'000 | 2026Total contractual undiscounted cash flows, RMB'000 | 2026On demand, RMB'000 | 2026Less than 3 months, RMB'000 | 20263 to less than 12 months, RMB'000 | 2026Over 1 year, RMB'000 | 2025Carrying amount, RMB'000 | 2025Total contractual undiscounted cash flows, RMB'000 | 2025On demand, RMB'000 | 2025Less than 3 months, RMB'000 | 20253 to less than 12 months, RMB'000 | 2025Over 1 year, RMB'000 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| As at 31 March | |||||||||||||
| - Interest-bearing bank and other loansRMB'000 | 106,055 | 111,005 | 24,500 | 20,698 | 36,678 | 29,129 | 118,225 | 125,377 | 636 | 11,175 | 52,814 | 60,752 | PDF p. 124PDF p. 125 |
Notes
Undiscounted cash flows; term loans with repayment on demand clauses shown at earliest date payable.
Loans with repayment on demand clause, scheduled basis, 31 March 2025: less than 3 months 636; total undiscounted 636; carrying amount 625.
Borrowing notes 4 tables
Bank and other loans - borrowings by type
| Item / unit | 2026RMB'000 | 2025RMB'000 | Source |
|---|---|---|---|
| Borrowings by type | |||
| Bank loans – securedRMB'000 | 44,500 | 60,125 | PDF p. 115 |
| Other loan – securedRMB'000 | – | 10,000 | PDF p. 115 |
| Other loans – unsecuredRMB'000 | 61,555 | 48,100 | PDF p. 115 |
| Total borrowingsRMB'000 | 106,055 | 118,225 | PDF p. 115 |
Notes
Note (a) refers to effective interest rates; see interest rate table.
Bank and other loans - current and non-current analysis
| Item / unit | 2026RMB'000 | 2025RMB'000 | Source |
|---|---|---|---|
| Current | |||
| Portion of other loan due for repayment within one yearRMB'000 | 35,000 | – | PDF p. 115 |
| Portion of bank loans due for repayment within one year or that become immediately repayable due to event of defaultRMB'000 | 44,500 | 59,500 | PDF p. 115 |
| Portion of bank loans due for repayment within one year which contain repayment on demand clauseRMB'000 | – | 625 | PDF p. 115 |
| Non-current | |||
| Portion of other loans due for repayment after one yearRMB'000 | 26,555 | 58,100 | PDF p. 115 |
Notes
Total of the analysis is 106,055 (2026) and 118,225 (2025) as printed.
Note (b): Group unable to repay a bank loan of approx. RMB24,500,000 that became immediately repayable due to event of default; may cross-default other bank loans of RMB20,000,000, for which facilities were renewed subsequent to year end with new principal of RMB19,000,000.
Bank and other loans repayable
| Item / unit | 2026RMB'000 | 2025RMB'000 | Source |
|---|---|---|---|
| Repayment profile | |||
| Within one year or on demandRMB'000 | 79,500 | 60,125 | PDF p. 115 |
| After one yearRMB'000 | 26,555 | 58,100 | PDF p. 115 |
Notes
Total 106,055 (2026) and 118,225 (2025). No separate one-to-five or after-five-year split printed.
Currency denomination of bank and other loans
| Item / unit | 2026RMB'000 | 2025RMB'000 | Source |
|---|---|---|---|
| Currency | |||
| RMBRMB'000 | 106,055 | 117,600 | PDF p. 116 |
| HK$RMB'000 | – | 625 | PDF p. 116 |
Notes
As at 31 March 2025, outstanding balances of bank loans in HK$ were approximately HK$670,000.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 – Dividend Policy | The Company does not have a policy on payments of dividends. The form, frequency and amount of dividends declared each year will take into consideration the Group’s profit growth, cash position, positive cash flow generated from operations, projected capital requirements for business growth and other factors as the Board may deem appropriate. The Company endeavours to pay dividend and where dividends are not paid, the Company will disclose its reason(s) accordingly. | Company | PDF p. 50 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend FY2026 | No dividend was declared for FY2026 in order to retain funds for the Group’s daily operations. | FY2026 (year ended 31 March 2026) | PDF p. 50 |
| 10. DIVIDENDS | The Board has resolved not to declare final dividend to the Shareholders for the years ended 31 March 2026 and 2025. | Final dividend, FY2026 and comparative FY2025 | PDF p. 103 |
Extracted from ANNUAL REPORT 2025-2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| BDO LLP | BDO LLP | Joint auditors, Singapore | PDF p. 79 |
| BDO Limited | BDO Limited | Joint auditors, Hong Kong | PDF p. 79 |
| William Ng Wee Liang | William Ng Wee Liang from BDO LLP | PDF p. 79 | |
| Wong Kwok Wai | Wong Kwok Wai from BDO Limited | PDF p. 79 | |
| BDO LLP Singapore | 30 June 2026 | As at 2026-06-30 | PDF p. 79 |
| Opinion | Our opinion is not modified in respect of this matter. | Group and Company, year ended 31 March 2026 | PDF p. 76 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Material Uncertainty Related to Going Concern | indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern | Group, year ended 31 March 2026 | PDF p. 76 |
| net loss | RMB262.0 million | Group | PDF p. 76 |
| cash and bank balances | approximately RMB13.6 million | Group | PDF p. 76 |
| bank loan | RMB24.5 million | Group | PDF p. 76 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Assessment of net realisable value of properties held for sale and properties held under development | The determination of the net realisable value of these properties held for sale and properties held under development is critically dependent upon the Group’s estimation of future selling prices. | Group, as at 31 March 2026 · As at 2026-03-31 | PDF p. 77 |
Extracted from ANNUAL REPORT 2025-2026 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow ANNUAL REPORT 2025-2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Fiscal years end31March; cover ranges refer to the consecutive ending fiscal year. Primary amounts are Chinese yuan thousands, EPS is RMB cents per share. Group consolidated profit/comprehensive income, cash flows/equity and Group/Company balances are printed; no separate primary Company income/comprehensive-income/equity/cash-flow statements are printed.
Original bar labels and x-axis years verified on the PDF image, not text reading order. Cash and Bank Balances chart actually matches primary cash equivalents and not the broader bank-balance rows. Net AssetFY2024prints1,049.2million, while originalFY2024balance1049891thousand rounds1049.9million; both source versions are retained. Source net gearing formula is Total Bank and Other Loans/Total equity. The malformed25.%is an axis tick, not a data label.
Note10 explicitly resolves no final dividend forFY2026andFY2025; no numerical per-share zero is inferred. Company reserve closing comparisons are available inNote27; separate Company primary equity movements are not printed.
Note10 explicitly resolves no final dividend forFY2024andFY2023. No numerical zero is inferred.
Final FY2020andFY2021dividends areS$0.015per ordinary share; FY2021/FY2022cashpaid RMB39039/36629thousand relates to prior fiscal years. No final dividend resolved forFY2022.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.