ZHAOBANGJILIFE：ANNOUNCEMENTOFANNUALRESULTSFORTHEYEARENDED31MARCH2025.pdf

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1、Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relian

2、ce upon the whole or any part of the contents of this announcement.Zhaobangji Lifestyle Holdings Limited兆邦基生活控股有限公司(Incorporated in the Cayman Islands with limited liability)(Stock code:1660)ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2025RESULTSThe board(the“Board”)of directors(the“D

3、irector(s)”)of Zhaobangji Lifestyle Holdings Limited(the“Company”)is pleased to announce the audited consolidated results of the Company and its subsidiaries(collectively referred to as the“Group”)for the year ended 31 March 2025(the“Year”)together with comparative figures of the year ended 31 March

4、 2024(the“Previous Year”)as follows:1 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 202520252024NotesHK$000HK$000Revenue5197,899267,691Cost of sales and services(176,879)(226,378)Gross profit21,02041,313Other gains and losses,net(43,292)(13,690)E

5、xpected credit losses(“ECL”)on financial assets,net(19,698)(17,485)Selling expenses(24)Administrative expenses(44,637)(38,613)Loss from operations(86,607)(28,499)Finance income1,6151,978Finance costs(1,074)(1,662)Finance income,net541316 Loss before income tax(86,066)(28,183)Income tax credit78,2611

6、49 Loss for the year(77,805)(28,034)Other comprehensive(expense)/incomeItems that may be reclassified subsequently to profit or loss:Exchange differences on translating foreign operations(1,245)(7,931)Release of reserve upon disposal of subsidiaries504Items that will not be reclassified subsequently

7、 to profit or loss:Fair value(loss)/gain on financial assets at fair value through other comprehensive income(2,827)227 Other comprehensive expense for the year,net of tax(3,568)(7,704)Total comprehensive expense for the year(81,373)(35,738)2 20252024NotesHK$000HK$000Loss for the year attributable t

8、o:Owners of the Company(77,805)(28,034)Non-controlling interests (77,805)(28,034)Total comprehensive expense for the year attributable to:Owners of the Company(81,373)(35,741)Non-controlling interests3 (81,373)(35,738)Loss per share for loss attributable to equity holders of the Company:10HK centsHK

9、 centsBasic and diluted(1.26)(0.45)3 CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAS AT 31 MARCH 202520252024NotesHK$000HK$000Non-current assetsProperty,plant and equipment1167,180135,435Right-of-use assets15,04722,044Deferred tax assets551GoodwillFinancial assets at fair value through other comprehe

10、nsive income122,1685,003Financial assets at fair value through profit or loss1456,96670,389Deposits,prepayments and other receivables14,0902,533Loans receivable12,56973,039 168,020308,994 Current assetsTax recoverable1,5892,426Inventories1,7995,270Trade receivables13106,48294,035Deposits,prepayments

11、 and other receivables1325,68258,491Loans receivable78,9383,389Financial assets at fair value through profit or loss143,7539,395Amounts due from related companies82084Bank and cash balances28,88234,278 247,945207,368 TOTAL ASSETS415,965516,362 4 20252024NotesHK$000HK$000Current liabilitiesContract l

12、iabilities5,7839,460Borrowings2,6777,482Lease liabilities15,20220,824Trade payables1524,56521,140Accruals and other payables1539,28639,586Amount due to a shareholder1,9181,825Amounts due to related companies3,750133Current tax liabilities1303 93,311100,453 Net current assets154,634106,915 Total asse

13、ts less current liabilities322,654415,909 Non-current liabilitiesBorrowings2,707Lease liabilities1,921Deferred tax liabilities5,29312,596 5,29317,224 Total liabilities98,604117,677 NET ASSETS317,361398,685 Capital and reserves attributable to owners of the CompanyShare capital12,39012,390Reserves304

14、,971386,344 Equity attributable to the owners of the Company317,361398,734Non-controlling interest(49)TOTAL EQUITY317,361398,685 5 NOTES1.GENERAL INFORMATIONZhaobangji Lifestyle Holdings Limited(the“Company”)was incorporated in the Cayman Islands with limited liability.The address of its registered

15、office is P.O.Box 309,Ugland House,Grand Cayman,KY1-1104,Cayman Islands.The address of its principal place of business is Unit 1315,11th Floor,China Merchants Tower,Shun Tak Centre,168200 Connaught Road Central,Hong Kong.The Companys shares are listed on the Main Board of The Stock Exchange of Hong

16、Kong Limited(the“Stock Exchange”).The Company is an investment holding company and its subsidiaries(the“Group”)are principally engaged in trading of machinery and spare parts,leasing of machinery and the provision of related services and money lending business in Hong Kong region and the provision o

17、f property management services,leasing of machinery,property leasing,subletting,retail and other businesses and money lending business in the Peoples Republic of China(the“PRC”).In the opinion of the directors of the Company as at 31 March 2025,Boardwin Resources Limited,a company incorporated in th

18、e British Virgin Islands,is the immediate and ultimate parent and Mr.Xu Chujia is the ultimate controlling party of the Company.2.BASIS OF PREPARATIONThese consolidated financial statements have been prepared in accordance with HKFRS Accounting Standards as issued by the Hong Kong Institute of Certi

19、fied Public Accountants(the“HKICPA”),which collective terms includes all applicable individual HKFRS Accounting Standards,Hong Kong Accounting Standards and Interpretations(“HKFRS Accounting Standards”)and the accounting principle generally accepted in Hong Kong.These consolidated financial statemen

20、ts also include applicable disclosure required by the Rules Governing the Listing of Securities on the Stock Exchange and by the Hong Kong Companies Ordinance.The HKICPA has issued certain new and revised HKFRS Accounting Standards that are first effective or available for early adoption for the cur

21、rent accounting period of the Group.Note 3 provides information on any changes in accounting policies resulting from initial application of these developments to the extent that they are relevant to the Group for the current and prior accounting periods reflected in these consolidated financial stat

22、ements.6 3.ADOPTION OF NEW AND AMENDED HKFRS ACCOUNTING STANDARDS(a)Amended HKFRS Accounting Standards that are effective for annual periods beginning on 1 April 2024In the current year,the Group has applied for the first time the following amended HKFRS Accounting Standards as issued by the HKICPA,

23、which are relevant to the Groups operations and effective for the Groups consolidated financial statements for the annual period beginning on 1 April 2024:Amendments to HKFRS 16Lease Liability in a Sale and LeasebackAmendments to HKAS 1Classification of Liabilities as Current or Non-current and rela

24、ted amendments to Hong Kong Interpretation 5Amendments to HKAS 1Non-current Liabilities with CovenantsAmendments to HKAS 7 and HKFRS 7Supplier Finance ArrangementsThe adoption of the amended HKFRS Accounting Standards had no material impact on how the results and financial position for the current a

25、nd prior periods have been prepared and presented.(b)Issued but not yet effective HKFRS Accounting StandardsAt the date of authorisation of these consolidated financial statements,certain new and amended HKFRS Accounting Standards have been published but are not yet effective,and have not been adopt

26、ed early by the Group.HKFRS 18Presentation and Disclosure in Financial Statements3HKFRS 19Subsidiaries without Public Accountability:Disclosures3Amendments to HKFRS 9 and HKFRS 7Amendments to the Classification and Measurement of Financial Instruments2Amendments to HKFRS 9 and HKFRS 7Contracts Refer

27、encing Nature Dependent Electricity2Amendments to HKFRS 10 and HKAS 28Sale or Contribution of Assets between an Investor and its Associate or Joint Venture4Amendments to HKAS 21Lack of Exchangeability1Amendments to HKFRS Accounting StandardsAnnual Improvements to HKFRS Accounting Standards Volume 11

28、2Amendments to Hong Kong Interpretation 5Presentation of Financial Statements Classification by the Borrower of a Term Loan that Contains a Repayment on Demand Clause31 Effective for annual periods beginning on or after 1 January 20252 Effective for annual periods beginning on or after 1 January 202

29、63 Effective for annual periods beginning on or after 1 January 20274 Effective date not yet determined 7 The directors anticipate that all of the pronouncements will be adopted in the Groups accounting policy for the first period beginning on or after the effective date of the pronouncement.Informa

30、tion on new and amended HKFRS Accounting Standards that are expected to have impact on the Groups accounting policies is provided below.Other new and amended HKFRS Accounting Standards are not expected to have a material impact on the Groups consolidated financial statements.HKFRS 18“Presentation an

31、d Disclosure in Financial Statements”and related amendments to Hong Kong Interpretation 5HKFRS 18 replaces HKAS 1“Presentation of Financial Statements”.It carries forward many of the existing requirements in HKAS 1,with limited changes,and some HKAS 1 requirements will be moved to HKAS 8“Accounting

32、Policies,Changes in Accounting Estimates and Errors”and HKFRS 7“Financial Instruments:Disclosures”.HKFRS 18 will not impact the recognition and measurement of financial statements items but the presentation of them.It introduces three major new requirements,including:reporting newly defined subtotal

33、s(namely“operating profits”and“profits before financing and income tax”),and classifying items into five newly defined categories(namely“operating”,“investing”,“financing”,“income tax”and“discontinued operation”),depending on the reporting entitys main business activities,in the statement of profit

34、or loss;disclosure of management-defined performance measures(“MPMs”)in a single note to the financial statements;and enhanced guidance of aggregation and disaggregation of information in the financial statements.Besides,narrow-scope amendments have been made to HKAS 7“Statement of Cash Flows”,which

35、 includes:using“operating profit or loss”as the starting point for indirect method for the presentation of operating cash flows purposes;and the option for classifying interest and dividend cash flows as operating activities is eliminated.In addition,there are consequential amendments to several oth

36、er standards.HKFRS 18,and the amendments to the other HKFRS Accounting Standards,are effective for annual period beginning on or after 1 January 2027 and must be applied retrospectively with specific transition provisions.The directors of the Company are still in the process of assessing the impact

37、of HKFRS 18,particularly with respect to the structure of the Groups consolidated statement of profit or loss and other comprehensive income,the consolidated statement of cash flows and the additional disclosures required for MPMs.8 4.MATERIAL ACCOUNTING POLICIESThese consolidated financial statemen

38、ts have been prepared under the historical cost convention,expect for financial assets at fair value through other comprehensive income and financial assets at fair value through profit or loss.The preparation of consolidated financial statements in conformity with HKFRS Accounting Standards require

39、s the use of certain critical accounting estimates.It also requires management to exercise its judgement in the process of applying the Groups accounting policies.5.REVENUEDisaggregation of revenueDisaggregation of revenue from contracts with customers by major products or service line for the year

40、is as follows:20252024HK$000HK$000Revenue from contracts with customers within the scope of HKFRS 15Sales of machinery and spare parts and provision of related services2,43422,401Transportation services1382,407Property management services84,68978,369Property leasing,subletting,retail and others54,67

41、571,132 141,936174,309 Revenue from other sourcesInterest income on loans receivable4,8893,782Property leasing,subletting,retail and others2,6847,654 7,57311,436Leasing of machinery and provision of related services48,39081,946 55,96393,382 197,899267,691 9 The Group derives revenue from the transfe

42、r of goods and services over time and at a point in time in the following major product lines and geographical regions:Revenue from contracts with customers within the scope of HKFRS 15Sales of machinery and spare parts and provision of related servicesTransportation servicesProperty management serv

43、icesProperty leasing,subletting,retail and othersTotal2025202420252024202520242025202420252024HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000Primary geographical marketsHong Kong2,43422,4011382,4072,57224,808The PRC except Hong Kong84,68978,36954,67571,132139,364149,501 Revenue from ext

44、ernal customers2,43422,4011382,40784,68978,36954,67571,132141,936174,309 Timing of revenue recognitionGoods and services transferred at a point in time2,43422,4011382,4072,57224,808Services transferred over time84,68978,36954,67571,132139,364149,501 Total2,43422,4011382,40784,68978,36954,67571,13214

45、1,936174,309 Revenue from other source not within the scope of HKFRS 15Leasing of machineryand provision ofrelated servicesProperty leasing,subletting,retailand othersMoney lendingTotal20252024202520242025202420252024HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000Primary geographical marketsHong Ko

46、ng44,63075,2323,6083,43048,23878,662The PRC except Hong Kong3,7606,7142,6847,6541,2813527,72514,720 Revenue from external customers48,39081,9462,6847,6544,8893,78255,96393,382 10 6.SEGMENT INFORMATIONThe Group has five(2024:six)reportable segments as follows:(i)TradingSales of machinery and spare pa

47、rts and provision of related services(ii)LeasingLeasing of machinery and provision of transportation and related services(iii)Property managementProvision of property management services(iv)Property leasing,subletting,retail and othersProvision of property leasing,subletting,retail and other busines

48、ses(v)Money LendingProvision of money lending businessDuring the year ended 31 March 2025,the transportation segment was no longer classified as a reportable segment due to significant decrease in its revenue and operational scale,which fell below the quantitative thresholds of HKFRS 8“Operating Seg

49、ments”.As a result,it has been included in the leasing segments category.Comparative figures have been restated accordingly.The restatement aligns with the updated information used by the chief operating decision maker(“CODM”)to assess performance and allocate resources.Further details on the restat

50、ed amounts are provided in the segment reconciliation table below.Information reported to the executive directors of the Company,being the CODM,for the purposes of resource allocation and assessment of segment performance focuses on types of goods or services delivered or provided.The Groups reporta

51、ble segments are strategic business units that offer different products and services.They are managed separately because each business requires different technology and marketing strategies.Segment profits or losses do not include corporate income and expenses,certain other gain and losses,finance i

52、ncome,finance costs and income tax.11 The Group accounts for intersegment sales and transfers as if the sales or transfers were to third parties,i.e.at current market prices.(i)Information about reportable segments profit or loss:TradingLeasingProperty managementProperty leasing,subletting,retail an

53、d othersMoney lendingUnallocatedInter segment eliminationTotal2025202420252024202520242025202420252024202520242025202420252024HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000(restated)Year ended 31 MarchRevenue from external customers2,43422,40148,5288

54、4,35384,68978,36957,35978,7864,8893,782197,899267,691Inter-segment revenue*4,0008601,592(4,860)(1,592)Reportable segment revenue6,43422,40148,52884,35385,54979,96157,35978,7864,8893,782(4,860)(1,592)197,899267,691Segment(loss)/profit before tax(5,009)(5,353)(32,109)9,146(7,580)4,358(3,984)(748)2,376

55、704(46,306)8,107 Depreciation and amortisation(34,126)(37,126)(28,291)(32,580)(305)(850)(62,722)(70,556)(Loss)/Gain on disposal of property,plant and equipment(4,260)4,319(4,260)4,319Written-off on property,plant and equipment(448)(5,119)(2,769)(3,217)(5,119)Impairment loss on property,plant and equ

56、ipment(15,312)(3,765)(19,077)Gain on early termination of leases,net255255Reversal of write down/(Write down)of inventories470(1,684)470(1,684)Finance income1811321,1331,12335283718151,6151,978Finance costs(192)(28)(317)(366)(565)(1,268)(1,074)(1,662)ECL allowance on financial assets,net(689)(232)(6

57、,899)(9,727)(9,226)(3,735)(1,789)(713)(1,095)(3,078)(19,698)(17,485)Capital additions(note)22,55934,6616520,48132,88643,10567,547 *Inter-segment revenue transactions are priced with reference to prices charged to external parties for similar orders based on similar terms and conditions of sales agre

58、ements entered.Note:Capital additions to non-current segment assets(other than financial instruments and deferred tax assets)during the year.12(ii)Reconciliations of reportable segments revenue and profit or loss:20252024HK$000HK$000RevenueTotal revenue of reportable segments197,899267,691 Profit or

59、 lossTotal profit or loss of reportable segments(46,306)8,107Unallocated amounts:Unallocated corporate income912315Unallocated corporate expenses and losses(40,672)(36,605)Consolidated loss before income tax(86,066)(28,183)(iii)Geographical information:RevenueThe Groups revenue from external custome

60、rs by location of operations are detailed below:20252024HK$000HK$000Hong Kong50,810103,470PRC except Hong Kong147,089164,221 Consolidated total197,899267,691 Non-current assets(excluding financial instruments)The Groups non-current assets(excluding financial instruments)by location of operations are

61、 detailed below:20252024HK$000HK$000Hong Kong76,623101,975PRC except Hong Kong19,60455,504 Consolidated total96,227157,479 13(iv)Revenue from major customers:20252024HK$000HK$000Customer A*N/A33,045 *The revenue was derived from the leasing segment.Transactions with the customer did not exceed 10%of

62、 the Groups revenue during the year ended 31 March 2025.In addition,there was no customers individually contributed more than 10%of the Groups revenue during the year ended 31 March 2025.7.INCOME TAX CREDITIncome tax credit has been recognised in profit or loss as follows:20252024HK$000HK$000Current

63、 tax Hong Kong Profits TaxProvision for the year1651,738Overprovision in prior year(3)(56)Current tax PRC Enterprise Income TaxOverprovision in prior years(1,671)Deferred tax(6,752)(1,831)(8,261)(149)For the years ended 31 March 2025 and 2024 under the two-tiered profits tax regime of Hong Kong Prof

64、its Tax,profits tax rate for the first HK$2,000,000 of assessable profits of qualifying corporations established in Hong Kong will be lowered to 8.25%,and profits above that amount will be subject to the tax rate of 16.5%.For the other Hong Kong established subsidiaries,Hong Kong Profits Tax has bee

65、n provided at a rate 16.5%on the estimated assessable profits.During the year ended 31 March 2025,no provision for PRC Enterprise Income Tax has been provided as the Company and its subsidiaries has either available tax losses brought forward from prior years to offset the assessable profits generat

66、ed during the year or incurred a loss for taxation purpose.During the year ended 31 March 2024,no provision for PRC Enterprise Income Tax has been provided as the Company and its subsidiaries,which were subject to PRC Enterprise Income Tax,incurred a loss for taxation purpose.Tax charge on profits a

67、ssessable elsewhere have been calculated at the rates of tax prevailing in the countries/regions in which the Groups subsidiaries operate,based on existing legislation,interpretation and practices in respect thereof.14 8.LOSS FOR THE YEARThe Groups loss for the year is stated after charging/(crediti

68、ng)the following:20252024HK$000HK$000Depreciation of property,plant and equipment40,24243,195Depreciation of right-of-use assets22,48027,361Loss/(Gain)on disposals of property,plant and equipment4,260(4,319)Gain on early termination of leases,net(255)Auditors remuneration Audit services1,2001,250Cos

69、t of inventories sold14,55935,758(Reversal of write down)/Write down of inventories to net realisable value(470)1,684Written-off on property,plant and equipment3,2175,119ECL allowance on financial assets,net19,69817,485Short term lease expenses7,8787,633 Note:Cost of sales and services includes depr

70、eciation of property,plant and equipment,depreciation of right-of-use assets and cost of inventories sold of approximately HK$68,525,000(2024:HK$102,030,000).9.DIVIDENDSThe directors do not recommend the payment of any dividend for the year ended 31 March 2025(2024:Nil).10.LOSS PER SHAREThe calculat

71、ion of the basic loss per share is based on the following:20252024HK$000HK$000LossLoss for the purpose of calculating basic loss per share (loss for the year attributable to owners of the Company)(77,805)(28,034)Number of sharesWeighted average number of ordinary shares for the purpose of calculatin

72、g basic loss per share6,195,000,0006,195,000,000 The Company did not have any potential dilutive shares for the years ended 31 March 2025 and 2024.Accordingly,the diluted loss per share are the same as the basic loss per share.15 11.PROPERTY,PLANT AND EQUIPMENTDuring the year ended 31 March 2025,the

73、 Group purchased and disposed property,plant and equipment with carrying amount of approximately HK$8,472,000 and HK$14,145,000(2024:HK$41,086,000 and HK$8,006,000)and depreciation and impairment loss of property,plant and equipment of HK$40,242,000 and HK$19,077,000(2024:HK$43,195,000 and Nil)was r

74、ecorded respectively.12.FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME20252024HK$000HK$000Unlisted equity securities2,1685,003 As at 31 March 2025,the unlisted equity securities represented an investment of 0.70%(2024:0.70%)equity interest in a private company established in the P

75、RC and are denominated in RMB.The fair value of this investment at 31 March 2025 was valued on asset-based approach with reference to its consolidated management accounts provided by the management of the investee company.The valuation was performed by an independent qualified valuation firm,深圳市國政房地

76、產土地資產評估顧問有限公司(“Guo Zheng Appraisal”)(2024:Guo Zheng Appraisal).Guo Zheng Appraisal took into consideration the assets and liabilities of this investment and its current financial status.13.TRADE RECEIVABLES,DEPOSITS,PREPAYMENTS AND OTHER RECEIVABLES(a)Trade receivables20252024HK$000HK$000Trade recei

77、vables139,219121,162Less:ECL allowance(32,737)(27,127)106,48294,035 The Groups trading terms with customers are mainly on credit.The credit terms generally range from 1 to 90 days.The Group seeks to maintain strict control over its outstanding receivables.Overdue balances are reviewed regularly by t

78、he directors and senior management.16 The ageing analysis of the Groups gross trade receivables,based on the invoice date,is as follows:20252024HK$000HK$0000 to 30 days2,5566,37531 to 60 days5,87911,28461 to 90 days4,7093,477More than 90 days126,075100,026 139,219121,162 (b)Deposits,prepayments and

79、other receivables20252024HK$000HK$000Current portion:Deposits1,459617Prepayments4,8311,629Other receivables19,39256,245 25,68258,491 Non-current portion:Deposits14,001844Other receivables891,689 14,0902,533 39,77261,024 17 14.FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS20252024HK$000HK$000C

80、urrent portion:Equity securities listed in Hong Kong1,4496,890Unlisted fund investment2,3042,505 3,7539,395Non-current portion:Distressed asset56,96670,389 60,71979,784 The equity securities are listed in Hong Kong and the unlisted fund investment are denominated in HK$.The distressed asset is denom

81、inated in RMB.15.TRADE PAYABLES,ACCRUALS AND OTHER PAYABLES20252024HK$000HK$000Trade payables24,56521,140Accruals and other payables39,28639,586 63,85160,726 The ageing analysis of the Groups trade payables,based on the date of receipt of goods or service consumed,is as follows:20252024HK$000HK$0000

82、 to 30 days8951,95131 to 60 days1,5862,72661 to 90 days1,424453More than 90 days20,66016,010 24,56521,140 16.COMPARATIVE FIGURESCertain comparative amounts have been reclassified to conform with current years presentation.18 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW AND MARKET PROSPECTThe G

83、roup is principally engaged in the trading of machinery and spare parts,leasing of machinery and provision of related services and money lending in Hong Kong,and provision of property management services,leasing of machinery,property leasing and subletting,and money lending in the Peoples Republic o

84、f China(the“PRC”).The overall market conditions were challenging this year as the real estate market in the PRC and in Hong Kong regions remained sluggish and many developers in the region struggled with cash flow.The demand for construction equipment leasing was therefore slow and there was also an

85、 overall trend to move into electric storage solutions which places some of our traditional diesel generators and related equipment obsolete.Our property management business also encountered difficulties as a larger percentage of residential property owners delayed payments which led to cost overrun

86、.In light of the challenging market conditions,the Board will continue to employ a low leverage position and will continue to explore potential business opportunities to bring long-term value to the shareholders of the Company(the“Shareholders”).FINANCIAL REVIEWRevenueOur total revenue decreased by

87、approximately HK$69.8 million,or 26.1%,from approximately HK$267.7 million for the Previous Year to approximately HK$197.9 million for the Year.Such decrease was mainly attributable to(i)the reduction of leasing related revenue of HK$33.6 million;(ii)the reduction of sales of machinery and spare par

88、ts related revenue of HK$20.0 million;and(iii)the reduction of retail indoor arcade related revenue of HK$16.5 million.Leasing of construction machineryOur Groups revenue generated from leasing of construction machinery recorded a decreased by approximately HK$35.8 million,or approximately 42.5%,fro

89、m approximately HK$84.4 million for the Previous Year to approximately HK$48.5 million for the Year.Such decrease was mainly due to the sluggish real estate market which lead to lower demand for construction related equipment and an overall trend to move into electric storage solutions which places

90、some of our traditional diesel generators and related equipment obsolete.19 Trading of construction machineryOur Groups revenue generated from trading of construction machinery recorded a decrease by approximately HK$20.0 million,or approximately 89.1%,from approximately HK$22.4 million for the Prev

91、ious Year to approximately HK$2.4 million for the Year.Such decrease was mainly due to a lack of market trading opportunity from an overall poor real estate market.Property management servicesOur Groups revenue generated from property management services increased by approximately HK$6.3 million,or

92、approximately 8.1%,from approximately HK$78.4 million for the Previous Year to approximately HK$84.7 million for the Year.The increase was mainly due to an increase in overall area under management.Property leasing,subletting services and retail businessesOur Groups revenue generated from property l

93、easing,subletting services and retail businesses decreased by approximately HK$21.4 million,or approximately 27.2%,from approximately HK$78.8 million for the Previous Year to approximately HK$57.4 million for the Year.Such decrease was mainly the result of lower income from our indoor amusement arca

94、de business.Money LendingOur Groups revenue generated from money lending increased by approximately HK$1.1 million from HK$3.8 million to HK$4.9 million.Such increase was mainly due to higher loan balance this year.Cost of Sales and ServicesOur Groups cost of sales and services decreased by approxim

95、ately HK$49.5 million,or approximately 21.9%,from approximately HK$226.4 million for the Previous Year to approximately HK$176.9 million for the Year.Cost of sales and services mainly comprised costs of machinery and equipment and spare parts,staff costs and depreciation.The decrease in cost of sale

96、s and services was mainly due to lower revenue for the Year.Gross Profit and Gross Profit MarginOur Groups gross profit decreased by approximately HK$20.3 million,or approximately 49.1%,from approximately HK$41.3 million for the Previous Year to approximately HK$21.0 million for the Year,and our gro

97、ss profit margin decreased from approximately 15.4%for the Previous Year to approximately 10.6%for the Year as a result of poor operating result as described above.20 Other LossesOur Groups other losses increased by approximately HK$29.6 million,from approximately HK$13.7 million for the Previous Ye

98、ar to approximately HK$43.3 million for the Year.The increase was mainly due to the recognition of impairment loss of property,plant and equipment and loss on disposal for obsolete equipment.Expected credit losses on financial assetsOur Groups expected credit losses on financial assets increased by

99、approximately HK$2.2 million,or approximately 12.7%,from approximately HK$17.5 million to approximately HK$19.7 million.The increase was mainly due to a larger amount of longer aged receivables this year.Administrative ExpensesOur Groups administrative expenses increased by approximately HK$6.0 mill

100、ion,or 15.6%,from approximately HK$38.6 million for the Previous Year to approximately HK$44.6 million for the Year.The increase is mainly attributable to the increase in staff cost for administrative staff and increase in depreciation of property,plant and equipment.Finance IncomeOur Groups finance

101、 income decreased by approximately HK$0.4 million,or approximately 18.4%,from approximately HK$2.0 million for the Previous Year to approximately HK$1.6 million for the Year as a result of lower average cash deposit during the Year.Finance CostsOur Groups finance costs decreased by approximately HK$

102、0.6 million,or approximately 35.4%,from approximately HK$1.7 million for the Previous Year to approximately HK$1.1 million for the Year.The decrease was mainly due to lower outstanding borrowings during the Year.Income Tax Credit and Effective Tax RateOur Groups income tax credit increased by approx

103、imately HK$8.1 million,from approximately HK$0.1 million for the Previous Year to approximately HK$8.3 million for the Year.The increase was mainly due to the loss making position of the operating subsidiaries this Year.The effective tax rate was not applicable for the Year and the Previous Year as

104、the Group were loss-making.21 Net LossThe Groups net loss increased by approximately HK$49.8 million from approximately HK$28.0 million in the Previous Year to approximately HK$77.8 million this Year.LIQUIDITY AND FINANCIAL RESOURCES REVIEWThe Group financed its operations through a combination of c

105、ash flow from operations,borrowings and lease liabilities.As at 31 March 2025,the Group had cash and bank balance of approximately HK$28.9 million(2024:approximately HK$34.3 million)which were mainly denominated in HK$and RMB,and had borrowings of approximately HK$2.7 million(2024:approximately HK$1

106、0.2 million)and lease liabilities of approximately HK$15.2 million(2024:approximately HK$22.7 million)respectively that were mainly in HK$and RMB.Gearing ratio is calculated as net debt divided by total equity at the end of the reporting period.Net debt is calculated as total borrowings and total ob

107、ligations under finance leases less cash and bank balances and restricted cash.As at 31 March 2025,the Group was in a net cash position(2024:net cash position).As at 31 March 2025,our Groups total current assets and current liabilities were approximately HK$247.9 million(2024:approximately HK$207.4

108、million)and approximately HK$93.3 million(2024:approximately HK$100.5 million)respectively.Our Groups current ratio was approximately 2.7 times as at 31 March 2025(2024:2.1 times).PLEDGE OF ASSETSAs at 31 March 2025,our Groups borrowings of HK$2.7 million(2024:approximately HK$10.2 million)and lease

109、 liabilities of HK$15.2 million(2024:approximately HK$22.7 million)were not secured by property,plant and equipment and right-of-use assets(2024:nil).CAPITAL STRUCTUREAs at 31 March 2025,the total issued share capital of the Company was HK$12,390,000 divided into 6,195,000,000 ordinary shares of HK$

110、0.002 each.CAPITAL EXPENDITUREThe total capital expenditure incurred for the Year was approximately HK$43.1 million(2024:approximately HK$67.5 million)which was mainly used in purchase of property,plant and equipment for our leasing business and property decoration and additions of right-of-use for

111、our retail business.22 CURRENCY RISKCertain transactions of the Group are denominated in currencies which are different from the functional currencies of the Groups principal subsidiaries,namely,HK$and RMB.Therefore the Group is exposed to foreign exchange risk.At 31 March 2025,the Group held certai

112、n financial assets and financial liabilities which were denominated in US$.The directors are of the opinion that the Groups exposure to US$and RMB foreign currency risk is minimal.Therefore,the directors of the Company consider the Group has no significant foreign currency risk.The Group does not ha

113、ve a foreign currency hedging policy.However,the Group will continue to monitor closely its exposure to currency movement and take proactive measures.CONTINGENT LIABILITIESThe Group had no material contingent liabilities at the end of the reporting period(31 March 2024:Nil).CAPITAL COMMITMENTSOur ca

114、pital commitments consist primarily of purchase of construction machinery for leasing purpose.As at 31 March 2025,there were approximately HK$0.1 million(31 March 2024:HK$5.8 million)of capital commitments in machinery and equipment contracted but not provided for.EMPLOYEES AND REMUNERATION POLICYAs

115、 at 31 March 2025,our Group had 395 staff members(2024:706).The total staff costs incurred by our Group for the Year were approximately HK$52.4 million(2024:approximately HK$57.1 million).The decrease in staff costs was mainly due to the reduction in staff costs from the selling departments as a res

116、ult of lower revenue.Employees remuneration packages are determined with reference to the market information and individual performance and will be reviewed on a regular basis.The remuneration policy will be reviewed by the Board from time to time.In addition to basic remuneration,the Group also mak

117、es contributions to mandatory provident funds scheme in Hong Kong and contribute an amount to certain retirement benefit schemes of those employees in the PRC.23 SIGNIFICANT INVESTMENTS HELD,MATERIAL ACQUISITIONS OR DISPOSALS OF SUBSIDIARIES,ASSOCIATES AND JOINT VENTURES,AND PLANS FOR MATERIAL INVES

118、TMENTS OR CAPITAL ASSETSave as to the distressed secured loan of RMB80,000,000(equivalent to approximately HK$91,200,000)principal amount acquired for a cash consideration of RMB65,000,000(equivalent to approximately HK$74,100,000),the details of which has been disclosed in the Companys announcement

119、 dated 8 September 2022,the Group did not have any significant investments held.During the year ended 31 March 2025,neither the Company nor any of its subsidiaries had other material acquisition or disposal.As at the date of this announcement,the Group does not have any plans for material investment

120、s or capital asset.SIGNIFICANT EVENTS AFTER THE REPORTING PERIODThere was no significant events affecting the Group after the end of the Year up to the date of this announcement.PURCHASE,REDEMPTION OR SALE OF LISTED SECURITIES OF THE COMPANYThere were no purchase,redemption or sale of the listed sec

121、urities of the Company by the Company or any of its subsidiaries during the Year.SHARE OPTION SCHEMEThe Companys share option scheme(the“Share Option Scheme”)was adopted pursuant to the written resolutions passed on 23 January 2017.From the date of the adoption of the Share Option Scheme and up to 3

122、1 March 2025,no share option has been granted,or agreed to be granted,under the Share Option Scheme.24 OTHER INFORMATIONCorporate Governance PracticesThe Group is committed to maintain high standards of corporate governance to safeguard the interests of the Shareholders and to enhance corporate valu

123、e and accountability.The Company has adopted the Corporate Governance Code(the“CG Code”)as set out in Part 2 of Appendix C1 to the Listing Rules as our corporate governance practices.The Company has complied with the applicable code provisions under the CG Code during the Year.Compliance with the Mo

124、del Code for Securities TransactionsThe Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers(the“Model Code”)set out in Appendix C3 to the Listing Rules as its own code of conduct regarding securities transactions by the Directors.The Company has made enquiri

125、es to all Directors regarding any non-compliance with the Model Code.All the Directors confirmed that they have fully complied with the required standard set out in the Model Code during the Year.Scope of work of Grant Thornton Hong Kong LimitedThe figures in respect of the Groups consolidated state

126、ment of financial position,consolidated statement of profit or loss and other comprehensive income and the related notes thereto for the Year as set out in the preliminary announcement have been agreed by the Groups auditor,Grant Thornton Hong Kong Limited,to the amounts set out in the Groups audite

127、d consolidated financial statements for the year.The work performed by Grant Thornton Hong Kong Limited in this respect did not constitute an assurance engagement and consequently no opinion or assurance conclusion has been expressed by Grant Thornton Hong Kong Limited on the preliminary announcemen

128、t.Review by Audit CommitteeThe annual results of the Group for the Year have been reviewed by the audit committee of the Company.DividendThe Directors do not recommend the payment of a final dividend for the Year(2024:Nil).25 Closure of Register of MembersFor determining the entitlement to attend an

129、d vote at the annual general meeting(“AGM”)of the Company to be held on Friday,15 August 2025,the register of members of the Company will be closed from Tuesday,12 August 2025 to Friday,15 August 2025(both days inclusive),during which period no transfer of shares of the Company will be registered.In

130、 order to be eligible to attend and vote at the AGM,all transfer forms accompanied by the relevant share certificates must be lodged with the Companys registrar,Tricor Investor Services Limited,17th Floor,Far East Finance Centre,No.16 Harcourt Road,Hong Kong,for registration no later than 4:30 p.m.o

131、n Monday,11 August 2025.Publication of the Results Announcement and Annual ReportThis results announcement is published on the Companys website(https:/)and the website of the Stock Exchange(http:/www.hkexnews.hk).The annual report of the Company for the Year will also be available at the respective

132、websites of the Company and the Stock Exchange and will be despatched to the Shareholders in July.By order of the BoardZhaobangji Lifestyle Holdings LimitedXu ChujiaChairmanHong Kong,30 June 2025As at the date of this announcement,the Board comprises four executive Directors,namely,Mr.Xu Chujia,Mr.Xu Zhicong,Ms.Zhang Yu and Ms.Zeng Yue Ying;one non-executive Director,namely,Ms.Tsim Ying Wah;and three independent non-executive Directors,namely,Mr.Hui Chin Tong Godfrey,Mr.Ye Longfei and Mr.Yu Chor On.*For identification purpose only 26