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RELATED PARTY TRANSACTIONS AND BALANCES | 12 Months Ended
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Mar. 31, 2026
Notes and other explanatory information [abstract] |
RELATED PARTY TRANSACTIONS AND BALANCES |
| 17. | RELATED PARTY TRANSACTIONS AND BALANCES
Nature of relationships with related parties
Schedule of relationships |  |
Name |  | Relationship with the Group
Bluemount Group Limited |  | Shareholder of the Company
Echo International |  | Shareholder of the Company
Yuk Cuisine Limited |  | Common director (Ms. Chan Wan Shan Sandra) and a wholly-owned subsidiary of Echo International
Yuk Cuisine (Hong Kong) Limited |  | Common director (Ms. Chan Wan Shan Sandra) and a wholly-owned subsidiary of Echo International
Echo Asia (Hong Kong) Limited |  | Common director (Ms. Chan Wan Shan Sandra) and a wholly-owned subsidiary of Echo International
Bluemount Financial Holdings Limited |  | Common directors (Ms. Chan Wan Shan Sandra and Mr. Pan)
Bluemount Investment Fund SPC (“Bluemount Fund”) |  | Common director (Ms. Chan Wan Shan Sandra)
Ms. Chan Wan Shan Sandra |  | Director of the Company
Mr. Pan |  | Director of the Company
Global New Normal Anti-Inflation Limited Partnership Fund SPC |  | Investment manager of the fund until March 1, 2024
| (a) | Amount due to a director
Schedule of amount due to director |  |  |  |  |  |  |  |
|  | As of March 31, |
|  | 2025 HK$’000 |  |  | 2026 HK$’000 |
Amount due to a director |  |  |  |  |  |  |  |
Chan Wan Shan Sandra |  |  | 3,407 |  |  |  | 3,204 |
The amount is unsecured, non-interest bearing and repayable on demand.
| (b) | Transactions with related parties
Schedule of transactions with related parties |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  | For the years ended March 31, |
Name of related parties |  | Transaction nature |  |  | 2024 HK$’000 |  |  |  | 2025 HK$’000 |  |  |  | 2026 HK$’000 |
Echo International |  | Interest expense on dividend payables |  |  | 348 |  |  |  | - |  |  |  | - |
Bluemount Fund1 - Cyber Investment Fund SP |  | Asset management fee |  |  | 7 |  |  |  | 12 |  |  |  | 26 |
Bluemount Fund1 - Bluemount Investment Fund SP |  | Asset management fee |  |  | 429 |  |  |  | 245 |  |  |  | 128 |
Bluemount Fund1 - Global Strategy Fund SP |  | Asset management fee |  |  | - |  |  |  | 3,979 |  |  |  | 9,124 |
Global New Normal Anti-Inflation Limited Partnership Fund SPC2 |  | Asset management fee |  |  | 330 |  |  |  | - |  |  |  | - |
Echo Asia (Hong Kong) Limited |  | Purchases of timepieces |  |  | - |  |  |  | 4,507 |  |  |  | - |
Echo Asia (Hong Kong) Limited |  | Cost of revenue |  |  | - |  |  |  | - |  |  |  | 4,507 |
1 BAML was appointed by Bluemount Fund as the investment manager to manage 4 Segregated Portfolios of the Fund. Included but not limited to making investment decisions, implementing investment strategies, and ensuring compliance with applicable regulations and guidelines. 2 BAML was appointed by this fund as the investment manager of Global New Normal Anti-Inflation Limited Partnership Fund SPC to manage the Segregated Portfolio of this fund. Included but not limited to making investment decisions, implementing investment strategies, and ensuring compliance with applicable regulations and guidelines.
| (i) | Cyber Investment Fund SP (“Cyber SP”)
Pursuant to the supplement to the Private Placement Memorandum between Cyber SP and BAML, Cyber SP shall pay BAML an asset management fee equal to one-fourth of 0.9 per cent per quarter of the net asset value of each series of Class A shares as at the last valuation day in each quarter. The asset management fee will be calculated quarterly and payable in Hong Kong dollars in arrears as soon as reasonably practicable after the end of March, June, September and December in each year. BAML will also be entitled to receive a performance fee from Cyber SP in respect of each series of participating share in issue. For each performance period, the performance fee in respect of each series of Class A shares will be equal to forty per cent of the appreciation in the net asset value of the series during the performance period above the high water mark.
| (ii) | Bluemount Investment Fund SP (“Bluemount SP”)
Pursuant to the supplement to the Private Placement Memorandum between Bluemount SP and BAML, Bluemount SP shall pay BAML an asset management fee equal to one-fourth of 2 per cent per quarter of the net asset value of each series of Class A shares as at the last valuation day in each quarter. The asset management fee will be calculated quarterly and payable in Hong Kong dollars annually in arrears. BAML will also be entitled to receive a performance fee from Bluemount SP in respect of each series of participating share in issue. For each performance period, the performance fee in respect of each series of Class A shares will be equal to thirty per cent of the appreciation in the net asset value of the series during the performance period above the high water mark.
| (iii) | Global Strategy Fund SP (“Global Strategy SP”)
Pursuant to the Private Placement Memorandum between Global Strategy SP and BAML, Global Strategy SP shall pay BAML an asset management fee in respect of each series of Class A shares and Class B shares. In respect of each series of class A shares, Global Strategy SP shall pay BAML an asset management fee equal to 1% per annum based on the net asset value of each series of Class A shares before deduction of that period’s management fee and before making any deduction for any accrued performance fees. The asset management fee for Class A shares will be calculated as at each valuation day and payable in US dollars quarterly in arrears as soon as reasonably practicable after the end of March, June, September and December in each year. In respect of each series of class B shares, Global Strategy SP shall pay BAML an asset management fee equal to 5% for the first calendar year and 1% per annum thereafter based on the net asset value of each series of Class B shares before deduction of that period’s management fee and before making any deduction for any accrued performance fees. The asset management fee for Class B shares for the first calendar year of its relevant subscription day will be calculated at the end of the offering period and on each subscription day and payable in US dollars in advance. After the end of the first calendar year from the relevant subscription day for each series of Class B shares, the asset management fee for Class B shares will be calculated as at each valuation day and payable in US Dollars quarterly in arrears as soon as reasonably practicable after the end of March, June, September and December in each year. BAML will also be entitled to receive a performance fee from Global Strategy SP in respect of each series of Class A shares and Class B shares. For each performance period, the performance fee in respect of each series of Class A shares and Class B shares shall equal to 10% of the excess return and 10% appreciation in the net asset value of the series above the high water mark respectively during the performance period. Bluemount Fund is considered a related party to the Group since both entities share common director.
| (iv) | Global New Normal Anti-Inflation Limited Partnership Fund SPC (“Global New SPC”)
Pursuant to the investment management agreement dated April 19, 2023 between Global New SPC and BAML, Global New SPC shall pay BAML a fixed monthly fee of HK$30,000 at the end of each month. The monthly fee will be payable in Hong Kong dollar in arrears as soon as reasonably practicable after the end of each month. In addition, Global New SPC shall also pay BAML an asset management fee equal to 0.5% per quarter of the net asset value of each series of portfolio (before deduction of that quarter's management fee) as at the last valuation day in each quarter. The asset management fee will be calculated quarterly and payable in Hong Kong dollar in arrears as soon as reasonably practicable after the end of March, June, September and December in each year. Global New SPC is considered as a related party to the Group. This classification arises because the Group has been designated as the investment manager for this fund. On December 31, 2023, BAML issued a termination letter to resign as investment manager with Global New SPC, effective from 1 March 2024 .
| (c) | Balances with related parties
Schedule of balances with related parties |  |  |  |  |  |  |  |  |  |
|  |  |  | As of March 31, |
Name of related parties |  | Balance nature |  | 2025 HK$’000 |  |  | 2026 HK$’000 |
Bluemount Investment Fund SP |  | Trade receivables |  |  | 109 |  |  |  | 122 |
Cyber Investment Fund SP |  | Trade receivables |  |  | 12 |  |  |  | 54 |
Global Strategy Fund SP |  | Trade receivables |  |  | 3,979 |  |  |  | 8,045 |
Bluemount Group Limited |  | Other receivables |  |  | 26 |  |  |  | - |
Bluemount Investment Fund SPC |  | Other receivables |  |  | 133 |  |  |  | 242 |
Bluemount Financial Holdings Limited |  | Other receivables |  |  | 1 |  |  |  | - |
Echo Asia (Hong Kong) Limited |  | Other receivables |  |  | - |  |  |  | 335 |
Yuk Cuisine (Hong Kong) Limited |  | Other receivables |  |  | - |  |  |  | 1,367 |
Yuk Cuisine Limited |  | Other payables |  |  | 1,506 |  |  |  | *(Note) |
Yuk Cuisine (Hong Kong) Limited |  | Other payables |  |  | 250 |  |  |  | - |
The above balances are unsecured, interest-free and repayable on demand.
| Note: | With effect from January 29, 2026, Yuk Cuisine Limited, the former related company, is no longer a wholly-owned subsidiary of Echo International. For information purpose, the other payables to Yuk Cuisine Limited amounted to HK$1,506,000 and HK$940,000 as of March 31, 2025 and 2026, respectively.
| (d) | Interests in subsidiaries
Particulars of the subsidiaries as of March 31, 2025 and 2026 are as follows:
Schedule of interests in subsidiaries |  |  |  |  |  |  |  |  |  |
Name of subsidiary |  | Place of Incorporation / operations |  | Issued and fully paid share capital |  | Proportion of voting power held by the Company |  | Principal activities
|  |  |  |  |  | 2025 |  | 2026 |  |
Directly: |  |  |  |  |  |  |  |  |  |
Bluemount Financial Group Limited |  | Hong Kong |  | Ordinary HK$23,010,300 |  | 100% |  | 100% |  | Investment holding
Indirectly: |  |  |  |  |  |  |  |  |  |
Bluemount Securities Limited |  | Hong Kong |  | Ordinary HK$18,000,000 |  | 100% |  | 100% |  | Financial and brokerage services
Bluemount Asset Management Limited |  | Hong Kong |  | Ordinary HK$5,000,000 |  | 100% |  | 100% |  | Wealth and asset management services
Bluemount Capital Limited (Note) |  | Hong Kong |  | Ordinary HK$10,000 |  | 100% |  | - |  | Advisory services
Bluemount Commodities Limited |  | Hong Kong |  | Ordinary HK$100 |  | 100% |  | 100% |  | Trading of timepieces and advisory services
| Note: | Bluemount Capital Limited was disposed to an independent third party on September 9, 2025.

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