Financial Performance - For the six months ended September 30, 2022, the Group recorded a revenue of approximately HK$1,031,896,000, representing a year-on-year increase of approximately 19.6% from HK$862,978,000 for the corresponding period last year[10]. - Gross profit for the same period was approximately HK$364,712,000, with a gross profit margin of 35.3%, an increase of approximately 30.7% and 3.0 percentage points year-on-year, respectively[10]. - Profit attributable to owners of the Company during the period amounted to approximately HK$82,049,000, reflecting a year-on-year increase of approximately 261.5%[10]. - The Group's revenue for the six months ended September 30, 2022, was approximately HK$1,031,896,000, reflecting a 19.6% increase compared to HK$862,978,000 for the same period in 2021[36]. - Profit attributable to owners of the Company for the six months ended 30 September 2022 was approximately HK$82,049,000, an increase of approximately 261.5% from HK$22,699,000 for the same period in 2021[37]. - Basic and diluted earnings per share increased to 8.2 HK cents, compared to 2.3 HK cents for the same period last year[103]. - Total comprehensive income for the period was HK$81,701,000, compared to HK$22,699,000 in the same period last year, indicating a growth of 260%[104]. Retail and Market Strategy - The Group maintained considerable growth despite a generally weak retail sector by rapidly adjusting its product mix in response to consumer needs[8]. - The Group's active expansion policy contributed to the increase in turnover and gross profit, enhancing the strategic footprint of physical stores[11]. - The Group aims to achieve a net increase of 20 retail stores each year under its "dual-brand" model, targeting both "Best Mart 360˚" and "FoodVille" in Hong Kong, Macau, and Mainland China[30]. - The Group is actively exploring a trial run of an e-commerce business in Mainland China, expected to commence in the current financial year, allowing online purchases via a WeChat mini-app[32]. - The Group's marketing strategies included collaborations with various platforms and promotions, significantly increasing brand exposure and customer engagement[25]. Operational Efficiency - The Group's operational efficiency improved significantly due to strengthened marketing promotion and optimized systems, leading to a notable year-on-year growth in operating profit[11]. - Selling and distribution expenses for the six months ended 30 September 2022 amounted to approximately HK$246,080,000, an increase of approximately 13.9% from HK$216,023,000 for the same period in 2021[41]. - Administrative and other expenses for the six months ended 30 September 2022 were approximately HK$36,824,000, an increase of approximately 12.6% from HK$32,692,000 for the same period in 2021[41]. Customer Engagement and Loyalty - The number of registered fans and members reached approximately 1,931,400, reflecting a year-on-year growth of 9.5%[22]. - The number of mobile app members increased by 27.9% to approximately 815,100 from approximately 637,100 in the same period last year[22]. - The Group has developed a cumulative total of 11 private labels and 183 products during the review period, enhancing customer loyalty and reinforcing operating income[18]. Financial Position and Cash Flow - Total cash and bank balances as of 30 September 2022 were approximately HK$168,323,000, an increase of approximately 29.4% from HK$130,076,000 as of 31 March 2022[41]. - The current ratio remained stable at approximately 1.2 as at both 31 March 2022 and 30 September 2022[44]. - The net cash generated from operating activities for the six months ended September 30, 2022, was HK$216,319,000, up from HK$99,571,000 in 2021, indicating strong operational performance[110]. - Cash and cash equivalents at the end of the period increased to HK$168,323,000, compared to HK$54,762,000 at the end of the previous year, reflecting improved liquidity[110]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance and has complied with all applicable code provisions in the Corporate Governance Code[82][83]. - All directors confirmed compliance with the Model Code for securities transactions during the six months ended September 30, 2022[84]. - The Group has strengthened its internal control system to meet shareholder expectations[82]. Employee and Training Development - The Group emphasizes continuous employee development and training, enhancing skills and service quality through various in-house training programs[55]. - The number of employees increased from 895 as at 30 September 2021 to 1,162 as at 30 September 2022[49]. - Staff costs (excluding Directors' emoluments) accounted for approximately 9.4% of revenue for the six months ended September 30, 2022, down from 10.1% in the corresponding period last year, a decrease of about 0.7 percentage points[26]. Dividends and Shareholder Information - The Board has recommended an interim dividend of HK8.0 cents per share for the six months ended September 30, 2022, up from HK1.5 cents per share for the same period in 2021, representing a total payout of HK$80,000,000[64]. - As of September 30, 2022, Mr. Lin Tsz Fung and Ms. Hui Ngai Fan each held 375,000,000 ordinary shares, representing 37.5% of the issued shares[70]. - The company declared an interim dividend of HK$80,000,000, equating to HK$0.08 per share, for the six months ended September 30, 2022[131].

Financial Performance - Revenue for the financial year ended 31 March 2022 was HK$1,983,526, an increase of 21.8% from HK$1,627,891 in 2021[5] - Gross profit for the same period was HK$667,654, representing a gross margin of 33.6%[5] - Operating profit increased to HK$141,493, up 39.1% from HK$101,668 in the previous year[5] - Profit attributable to owners of the Company was HK$109,912, a rise of 35.1% compared to HK$81,449 in 2021[5] - Earnings per share increased to 11.0 HK cents, up from 8.1 HK cents in the previous year[5] - The Group recorded revenue of approximately HK$1,983,526,000, representing a year-on-year increase of approximately 21.8%[17] - Profit attributable to owners of the Company was approximately HK$109,804,000, reflecting a significant increase of approximately 34.8%, and a 121.0% increase when excluding government subsidies from the previous year[17] - The Group's gross profit for the year ended March 31, 2022, was approximately HK$667,654,000, up from approximately HK$520,154,000 for the previous year[42] - The Group's profit for the year amounted to approximately HK$109,804,000, reflecting an increase of approximately 34.8% from HK$81,449,000 in the prior year[69] - The net profit margin for the financial year ended March 31, 2022, was approximately 5.5%, up from 5.0% in the previous financial year[69] Store Expansion and Market Presence - The Company launched a new retail brand "FoodVille" targeting the medium-to-high-end market, offering a diverse range of products[10] - Two new "Best Mart 360" stores were opened in Shenzhen to expand into the Greater Bay Area market[10] - The total number of retail stores in Hong Kong increased from 120 to 130 during the financial year[19] - The total number of retail stores in Macau increased from 4 to 6 during the financial year, marking a successful extension of the Group's business model[21] - The Group opened 2 retail stores in Shenzhen, establishing its first presence in Mainland China and laying the foundation for expansion in the Greater Bay Area[21] - The Group's retail network consists of 138 stores across Hong Kong, Macau, and Mainland China, with a focus on shopping districts and major transportation hubs[27] - The Group opened a net total of 14 new stores during the financial year, contributing to the overall sales increase[42] - The Group opened 24 new retail stores during the financial year, including 20 in Hong Kong, 2 in Macau, and 2 in Mainland China, while closing 10 stores due to lease expirations[45] Product and Operational Strategy - The Group actively optimized its product mix, strengthening the supply of leisure and basic food products, daily necessities, and anti-epidemic supplies[19] - The Group achieved a significant increase in private label sales, rising approximately 130.2% compared to the previous financial year, with revenue contribution increasing to about 16.3%[21] - The Group plans to continue developing its private label products to enhance customer loyalty and overall sales, while also exploring opportunities in different markets[22] - The Group aims to expand its new global gourmet brand, "FoodVille," targeting the medium-to-high-end market with diversified food products[22] - The Group is committed to maintaining "Best Quality" and "Best Price" while optimizing its product mix to meet market demands[22] - The increase in revenue was primarily due to a significant rise in demand for household foodstuffs and grocery items as consumers reduced dining out during the pandemic[42] Financial Position and Cash Flow - Total assets increased to HK$900,153, while total liabilities were HK$462,110, resulting in total equity of HK$438,043[5] - As of March 31, 2022, the Group's total cash and bank balances were approximately HK$130,076,000, an increase of approximately HK$38,764,000 from HK$91,312,000 in 2021[79] - The Group's total bank borrowings as of March 31, 2022 were approximately HK$82,981,000, a decrease of approximately 22.8% from HK$107,496,000 in the previous year[81] - Net cash generated from operating activities for the financial year ended 31 March 2022 was HK$305,876,000, compared to HK$247,557,000 in 2021[80] - The Group maintained a strong financial position with working capital amounting to HK$74,550,000 as of 31 March 2022[83] Corporate Governance and Management - The company is committed to maintaining high standards of corporate governance to improve accountability and transparency in operations[143] - The company has adopted and complied with all applicable code provisions in the Corporate Governance Code during the financial year under review[144] - The roles of the Chairman and the Chief Executive Officer are separate to ensure a balance of power and authority within the company[145] - The Company has established three committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, each with specific duties and sufficient resources[159] - The Company adheres to the corporate governance principles outlined in the Listing Rules, enhancing accountability and transparency[150] - The Board comprises five Directors, including two Executive Directors and three Independent Non-Executive Directors, ensuring a balanced distribution of power[154] Employee and Staff Management - Total employee count as of March 31, 2022, was 937, with staff costs (excluding Directors' emoluments) amounting to approximately HK$181,335,000, representing an increase of approximately 19.6% from HK$151,633,000 in the previous year[48] - Staff costs represented approximately 9.1% of the Group's revenue for the financial year, slightly down from 9.3% in the previous year[48] - The Group's employer contributions to the Mandatory Provident Fund Scheme are 5% of relevant payroll, matched by employees[103] - For the year ended 31 March 2022, the Group made contributions to retirement plans at rates ranging from 14% to 15% of eligible employees' salaries[106] Shareholder Information and Dividends - A final dividend of HK8.0 cents per share was recommended for the year ended 31 March 2022[13] - The proposed final dividend is expected to be paid on or around 7 September 2022, subject to shareholder approval[116] - The register of members will be closed from 25 August 2022 to 29 August 2022 for determining entitlement to the final dividend[116] - The Company has no fixed dividend policy, and any dividends declared will depend on the Group's operational results, available cash flows, and financial condition, among other factors[188] Risk Management and Internal Controls - The Company has adopted internal control policies and risk management policies to address operational, credit, market, financial, and legal risks, with the Board conducting thorough examinations of material risks before approving business decisions[185] - The Company does not have an internal audit function but will review the need for one annually, opting instead to engage an independent external professional party for annual reviews of internal control systems[185] - The Company has established procedures for handling inside information to ensure confidentiality until appropriate disclosure is approved, and the Board believes the risk management and internal control systems were adequate and effective during the financial year[187]

Best Mart 360 Holdings Limited 優品360控股有限公司 Interim Report 2021 中期報告 Best Mart 360 Holdings Limited Best Mart 360 Holdings Limited 優品360控股有限公司 優品360控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：2360 Interim Report 2021 2021 中期報告 | --- | --- | --- | |--------------------------------------------------------------|----------------------------------|-------| | | CONTENTS | 目錄 | | Corporate Information | 公司資料 2 | | | Management Discussion and Analysis | 管理層討論及 ...

Best Mart 360 Holdings Limited 優品360控股有限公司 (Incorporated in the Cayman Islands with Iimited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：2360 Annual Report 2020/2021 2020/2021 年度報告 | --- | --- | --- | |-------------------------------------------------------------|--------------------------|-------| | | CONTENTS | 目錄 | | Corporate Information | 公司資料 2 | | | Financial Summary | 財務概要 4 | | | Chairman's Statement | 主席報告 5 | | | Chief Executive Officer's Statement | 行政總裁報告 7 | | | Management Discussion and Analys ...

Revenue and Profitability - For the six months ended September 30, 2020, the Group recorded revenue of approximately HK$709,387,000, representing an increase of approximately 16.3% compared to HK$609,857,000 for the same period in 2019[12]. - Profit attributable to owners of the Company for the six months ended September 30, 2020, was approximately HK$35,689,000, representing an increase of approximately 165.2% from approximately HK$13,457,000 in 2019[15]. - Gross profit for the six months ended September 30, 2020, was approximately HK$222,761,000, compared to approximately HK$209,282,000 for the same period in 2019[15]. - The gross profit margin for the Group was approximately 31.4%, a decrease of approximately 2.9 percentage points from 34.3% for the six months ended September 30, 2019[29]. - The increase in profit was primarily due to the recognition of government grants accounted for the period, amounting to approximately HK$21,189,000[44]. Retail Expansion - The Group opened 13 new retail stores in Hong Kong, with 11 located in community or residential districts, expanding its retail network[7]. - The number of retail stores increased from 98 in Hong Kong as of September 30, 2019, to 112 as of September 30, 2020, with an additional three stores in Macau[12]. - The Group opened 15 new stores during the period, including 13 in Hong Kong and 2 in Macau, while closing three stores in Hong Kong[17]. - The Group's retail network expansion included new stores located primarily in community or residential districts to better serve local consumers[17]. Market Conditions - Local consumer spending sentiment remained cautious due to the worsening economic environment and unemployment pressure in Hong Kong[7]. - The Group faced a challenging business environment due to anti-epidemic measures, including border closures and quarantine measures[7]. - The retail business environment in Hong Kong is expected to remain challenging due to the ongoing impact of the novel coronavirus pandemic[37]. Product Offerings and Strategy - The Group's mission is to provide "Best Quality" and "Best Prices" products through global procurement efforts[6]. - The Group's product offerings include a wide range of imported prepackaged leisure foods and grocery products[6]. - The Group adjusted its business strategy and optimized its product portfolio to maintain profitability amid challenging market conditions[7]. - The Group plans to expand its product range, particularly basic grocery products, to meet local community needs while controlling procurement costs to maintain competitive pricing[39]. Financial Position - As of September 30, 2020, the Group's total cash and bank balances were approximately HK$92,781,000, a decrease of approximately HK$123,130,000 from HK$215,911,000 as of March 31, 2020[54]. - The Group's total bank borrowings as of September 30, 2020, were approximately HK$140,030,000, an increase of approximately 40.7% compared to HK$99,542,000 as of March 31, 2020[55]. - The gearing ratio as of September 30, 2020, was approximately 40.9%, up from approximately 32.5% as of March 31, 2020, primarily due to increased bank borrowings for acquisition payments[56]. - The Group had net current liabilities of approximately HK$19,026,000, a significant decrease from net current assets of HK$152,271,000 as of March 31, 2020[61]. Government Support and Grants - The Group received government grants totaling approximately HK$21,189,000, which contributed to the increase in profit for the period[15]. - Other income and gains for the six months ended September 30, 2020, amounted to approximately HK$22,408,000, significantly up from HK$2,161,000 for the same period in 2019, mainly due to government grants recognition[46]. Employee and Operational Costs - Staff costs (excluding Directors' emoluments) for the six months ended September 30, 2020, were approximately HK$67,788,000, a 3.4% increase from HK$65,536,000 in the same period of 2019[20]. - Selling and distribution expenses for the six months ended September 30, 2020, were approximately HK$181,441,000, an increase of approximately 8.0% from HK$168,050,000 for the same period in 2019[47]. - Administrative and other expenses for the six months ended September 30, 2020, were approximately HK$20,733,000, representing an increase of approximately 4.7% from HK$19,809,000 for the same period in 2019[48]. Acquisitions and Investments - The Group completed the acquisition of Allied Wide for a consideration of approximately HK$176.0 million on September 28, 2020[76]. - The Group recognized right-of-use assets of approximately HK$178,865,000 from the acquisition of Allied Wide during the six months ended September 30, 2020, compared to HK$Nil in the same period of 2019[175]. Corporate Governance - The Company has adopted and complied with all applicable code provisions in the Corporate Governance Code during the reporting period[103]. - The Company is committed to maintaining high standards of corporate governance to enhance accountability and transparency[102]. - The Board has established three committees: audit, remuneration, and nomination, to assist in fulfilling its responsibilities[107]. Shareholder Information - The board has recommended an interim dividend of HK2.0 cents per share, totaling HK$20,000,000, an increase from HK1.5 cents per share in the previous period[85]. - An interim dividend of HK$20,000,000, or HK$0.02 per share, has been proposed for the six months ended September 30, 2020, subject to shareholder approval[174].

Financial Performance - The Group recorded a revenue growth of approximately 14.7% for the six months ended September 30, 2019, compared to the same period last year[7]. - Profit attributable to owners of the Company decreased by approximately 6.0% during the same period, primarily due to adverse impacts from social movements in Hong Kong[7]. - For the six months ended 30 September 2019, the Group recorded revenue of approximately HK$609,857,000, representing an increase of approximately 14.7% compared to HK$531,492,000 for the same period in 2018[13]. - The gross profit for the six months ended 30 September 2019 was approximately HK$209,282,000, up from approximately HK$179,251,000 for the same period in 2018[15]. - Profit attributable to owners of the Company for the six months ended 30 September 2019 was approximately HK$13,457,000, a decrease of approximately 6.0% compared to HK$14,317,000 for the same period in 2018[15]. - The gross profit margin for the Group was approximately 34.3%, an increase of 0.6 percentage points from 33.7% for the same period in 2018[29]. - Operating profit increased to HK$23,584,000, up 17.5% from HK$20,067,000 in the previous year[121]. - Profit before income tax was HK$16,520,000, a decrease of 6.4% from HK$18,709,000 in 2018[121]. - Net profit for the period was HK$13,457,000, down 6.0% from HK$14,317,000 in the same period last year[121]. Retail Operations - The Group operates under the brand "Best Mart 360˚," offering a wide range of imported prepackaged leisure foods and grocery products[6]. - The decline in tourist numbers visiting Hong Kong since June 2019 has negatively affected the Group's retail operations[7]. - The number of retail stores increased from 77 as at 30 September 2018 to 98 as at 30 September 2019, with 14 new stores opened and 5 closed during the period[17]. - As of September 30, 2019, the Group operated a total of 98 retail stores in Hong Kong, an increase from 77 stores as of September 30, 2018[19]. - The Group aims to create a comfortable shopping environment and pleasurable shopping experience for its customers[6]. Economic Environment - The overall economic deterioration in Hong Kong has been influenced by US-China trade tensions and a decline in private consumption expenditure[7]. - The provisional estimated value of total retail sales in Hong Kong decreased by 20.4% in September 2019 compared to the same month in 2018[10]. - Visitor arrivals in Hong Kong dropped significantly from July to September 2019, with decreases of 4.8%, 39.1%, and 34.2% compared to the same months in 2018[10]. - Hong Kong's GDP decreased by 2.9% in real terms in Q3 2019, with private consumption expenditure falling by 3.4%[35]. - Consumer spending on food in Hong Kong dropped by 12.1% in Q3 2019, reflecting a challenging retail environment[35]. - The ongoing social unrest and global economic factors are significantly impacting the retail business environment in Hong Kong[35]. Cost and Expenses - Rental expenses for retail stores were approximately HK$77,179,000 for the six months ended 30 September 2019, representing an increase of approximately 29.2% compared to HK$59,739,000 for the same period in 2018[17]. - The average monthly rental for the six months ended 30 September 2019 was approximately HK$126.8 per square foot, an increase of approximately 2.0% from HK$124.3 per square foot for the same period in 2018[17]. - The percentage of rental expenses to sales revenue for the six months ended 30 September 2019 was approximately 12.7%, slightly higher than 11.2% for the same period in 2018[17]. - Selling and distribution expenses amounted to approximately HK$168,050,000 for the six months ended September 30, 2019, reflecting an increase of approximately 25.1% from HK$134,329,000 for the same period in 2018[48]. - Finance costs increased to approximately HK$7.1 million, representing an increase of approximately 420.2% from approximately HK$1.4 million for the same period in 2018, primarily due to interest expenses on lease liabilities[53]. Employee and Staffing - The total number of employees increased from 624 to 816, with staff costs rising by approximately 23.8% to HK$65,536,000 for the six months ended September 30, 2019[21]. - The remuneration policy is based on employee performance, with a total employee cost increase of approximately 23.8% from the previous year[72][77]. Digitalization and Expansion - The Group opened its first WeChat Pay Smart Store in Hong Kong, marking a significant step in its digitalization strategy[32]. - The Group launched two WeChat Mini Programs: "Best Mart Scan & Go" and "Best Mart Card," enhancing customer engagement and payment options[32]. - The Group is preparing to expand its market coverage by establishing a retail presence in Mainland China, with the first store expected to open in the upcoming financial year[38]. - The Group aims to actively expand its retail network in Macau as part of its growth strategy[40]. Corporate Governance - The Company has adopted and complied with all applicable code provisions in the Corporate Governance Code during the reporting period[99]. - The Board is responsible for overseeing the overall management of the Group's business and has established three committees: audit, remuneration, and nomination[100]. - The audit committee reviewed the unaudited interim condensed consolidated financial statements for the six months ended 30 September 2019, confirming compliance with applicable accounting standards[111]. - The Company is committed to maintaining high standards of corporate governance to enhance accountability and transparency[98]. Accounting Standards - The Group adopted HKFRS 16 "Leases" effective from April 1, 2019, resulting in right-of-use assets of approximately HK$223.6 million and lease liabilities of approximately HK$230.9 million as of September 30, 2019[49]. - The Group's financial statements do not include all information required for a complete set of financial statements prepared in accordance with HKFRSs[131]. - The impact of adopting HKFRS 16 Leases has been summarized, indicating potential changes in accounting treatment for leases[136]. - The Group recognized right-of-use assets amounting to HK$156,474,000 and lease liabilities of HK$158,089,000 as of April 1, 2019[142][146].

Financial Performance - Revenue for the year ended March 31, 2019, was HK$1,288,479,000, representing a 19.7% increase from HK$1,075,930,000 in 2018[4] - Gross profit for the same period was HK$434,440,000, up from HK$342,289,000, indicating a growth of 27%[4] - Operating profit increased to HK$78,820,000, compared to HK$68,796,000 in the previous year, reflecting a rise of 14.7%[4] - Profit attributable to owners of the Company was HK$59,728,000, a 11.4% increase from HK$53,599,000 in 2018[4] - Earnings per share attributable to owners was 7.4 HK cents, slightly up from 7.1 HK cents in the previous year[4] - The total equity attributable to owners of the Company rose significantly to HK$369,582,000 from HK$93,184,000, marking a growth of 296%[4] - The Group achieved satisfactory growth in both revenue and profit attributable to owners despite a slowdown compared to the previous financial year, primarily due to the US-China trade tensions and global financial market fluctuations[10][12]. - The Group's revenue and profit growth were sustained through effective pricing policies and cost control measures, optimizing gross profit margin and same-store sales growth[10][12]. - Same-store sales growth was approximately 6.8% for the financial year under review[47] - The Group achieved a gross profit margin of approximately 33.7% for the year ended 31 March 2019, an increase of approximately 1.9 percentage points from 31.8% for the year ended 31 March 2018[54] Retail Expansion and Strategy - The Company successfully listed on the main board of The Stock Exchange of Hong Kong on January 11, 2019, enhancing brand awareness and capital for future expansion[9] - The Group aims to provide "Best Quality" and "Best Prices" through global procurement efforts, positioning itself as one of the largest leisure food retailers in Hong Kong[7] - The Company plans to continue expanding its retail presence and improving customer shopping experiences[9] - The Group's retail network expanded to 89 chain retail stores as of March 31, 2019, contributing to increased revenue and profitability[23]. - The number of Best Mart 360° chain retail stores reached 93, covering shopping districts, community areas, and major traffic hubs as of June 26, 2019[38] - The Group opened its first retail store at the Hong Kong-Zhuhai-Macau Bridge Passenger Clearance Building in May 2019, aiming to capture consumer potential from the "one-hour living circle" created by the infrastructure[27][30] - The Group plans to commence operations of a retail store in the Macau Special Administrative Region by the end of the forthcoming financial year, aiming to bring new growth momentum[28][31] - The Group's retail products mainly consist of fast-moving consumer packaged goods, and management is confident in maintaining competitiveness due to a strong business foundation[11][13]. - The Group's retail network expansion includes meticulous planning to increase market share and penetration in Hong Kong while exploring opportunities in the Greater China region[28][31] Customer Engagement and Technology - A mobile app was launched in March 2019 to enhance communication and interaction with customers, aiming to improve shopping convenience and experience[24]. - The introduction of mobile payment options, including Apple Pay, Android Pay, Alipay, and WeChat Pay, is part of the Group's strategy to enhance customer experience and streamline operations[29][36] - A WeChat Pay Smart Store was opened on June 13, 2019, in Tsimshatsui East, integrating automated checkout processes to improve shopping efficiency[29][39] - The Group aims to enhance consumer experience through strategic cooperation with well-known internet companies and social media platforms in the digital transformation of retail operations[33][36] Supply Chain and Product Management - The Group sourced approximately 675 brands and 3,261 SKUs from suppliers across over 16 countries, focusing on quality and competitive pricing[20]. - The Group is committed to developing quality private label products to better control product quality and enhance customer loyalty[25]. - Continuous optimization of the supply chain and procurement capabilities is a priority, including identifying additional suppliers and lowering procurement costs[68] - The Group aims to accelerate the development of private label products to enhance cost advantages and quality control, thereby maximizing customer loyalty[68] Human Resources and Staff Management - Employee count increased from 562 (406 full-time and 156 part-time) as of 31 March 2018 to 728 (538 full-time and 185 part-time) as of 31 March 2019[58] - Staff costs (excluding Directors' emoluments) for the year ended 31 March 2019 were approximately HK$119,373,000, a 36.2% increase from approximately HK$87,676,000 for the previous year[58] - Staff costs represented approximately 9.3% of the Group's revenue for the year ended 31 March 2019, up from 8.2% for the year ended 31 March 2018[58] - The increase in staff cost ratio was primarily due to salary adjustments, bonuses, and management structure enhancements during the financial year[58] Corporate Governance - The Company is committed to maintaining high standards of corporate governance to improve accountability and transparency[155] - The roles of the Chairman and the Chief Executive Officer are separate, ensuring a balance of power and authority[157] - The Company has adopted and complied with all applicable code provisions in the Corporate Governance Code since its listing[156] - The Board of Directors consists of five members, including three independent non-executive Directors, meeting the requirement of at least one-third representation[165] - The audit committee, comprising three independent non-executive Directors, reviewed the Group's audited annual results for the year ended March 31, 2019, ensuring compliance with applicable accounting standards[172] - The Board has established three committees: audit, remuneration, and nomination, each with specific written terms of reference[170] - The Group's governance structure includes provisions for independent professional advice for Directors at the Company's expense[163] Financial Position and Liquidity - As of 31 March 2019, the Group's total cash and bank balances were approximately HK$277,394,000, a significant increase from HK$37,809,000 in 2018, with the current ratio improving from approximately 1.7 times to approximately 4.7 times[90] - The gearing ratio decreased to approximately 20.0% as of 31 March 2019 from approximately 72.5% as of 31 March 2018, attributed to an increase in share premium from the Share Offer[91] - Total bank borrowings as of 31 March 2019 were approximately HK$73,775,000, representing a 9.2% increase from approximately HK$67,555,000 as of 31 March 2018[92] - The Group plans to finance its liquidity and working capital requirements through various sources, including cash generated from operations, bank borrowings, and net proceeds from the Share Offer[97] Dividend and Shareholder Information - The final dividend per share declared was 6.0 HK cents, compared to no dividend in the previous year[4] - A final dividend of HK6.0 cents per share was proposed for the year ended March 31, 2019, representing a payout ratio of approximately 100.5%[16]. - The proposed final dividend is subject to shareholder approval at the AGM scheduled for 7 August 2019[125] - The final dividend is expected to be paid on or around 23 August 2019 if approved[128] Risk Management and Compliance - The company has adopted a series of internal control policies and implemented risk management policies to address various potential risks, including operational, credit, market, financial, and legal risks[200] - The Board believes that the Group's risk management and internal control systems were adequate and effective from the listing date to March 31, 2019[200]