Financial Performance - The company's revenue for the year ended April 30, 2023, decreased by approximately HKD 79.3 million or 52.9% to about HKD 70.6 million, down from HKD 149.9 million in the previous year[9]. - The net loss for the year was approximately HKD 69.9 million, compared to a net profit of about HKD 5.7 million in the previous year[9]. - Revenue from customers in China and Hong Kong was approximately HKD 13.5 million, a significant decrease of HKD 64.1 million or 83.5% compared to HKD 77.6 million in the previous year[13]. - Revenue from LED decorative lighting products in Canada was approximately HKD 36.6 million, a decrease of about HKD 13.4 million or 26.8% from HKD 50.0 million in the previous year[13]. - Revenue from LED decorative lights decreased by approximately HKD 60.7 million or 46.2% to about HKD 70.6 million for the year ended April 30, 2023[18]. - Revenue from LED lighting lights dropped significantly by approximately HKD 18.7 million or 100%, resulting in no revenue for the year ended April 30, 2023[19]. - Gross profit decreased by approximately HKD 22.1 million or 66.4% to about HKD 11.2 million, with gross margin declining from approximately 22.2% to 15.8%[21]. - Other income and net gains were approximately HKD 0.5 million, down from HKD 1.5 million in the previous year, primarily due to losses from financial assets[22]. - Total cash and bank balances were approximately HKD 18.0 million, down from HKD 46.6 million in the previous year[29]. - The company reported a loss of approximately HKD 69.9 million for the year ended April 30, 2023, a decrease in loss of about HKD 75.6 million compared to the previous year[27]. Operational Developments - The company has resumed operations at its new production line in Phnom Penh, Cambodia, which benefits from tax incentives for exporting lighting products to the United States[14]. - The company purchased 6 new automatic welding machines and upgraded 15 existing machines to enhance the automation level and efficiency of LED decorative light products[40]. - A total of 44 machines have been upgraded to increase the production capacity of LED light beads[40]. - The company hired 6 senior engineers to focus on product design and production[42]. - The company recruited 7 new sales personnel to strengthen its sales and marketing efforts[42]. - The company participated in trade exhibitions in Hong Kong and conducted market research in the US, Philippines, Europe, and West Africa[42]. Strategic Focus - The company aims to leverage its skills and resilience to seize growth opportunities and enhance shareholder value following the end of the prolonged pandemic[10]. - The business environment is expected to improve as Hong Kong and mainland China gradually return to normal operations[8]. - The company plans to increase marketing efforts to attract potential customers in the United States[14]. - The company is focused on long-term strategic planning and business development to drive growth and increase shareholder value[59]. - The company plans to enhance production efficiency and expand its sales network to strengthen market position and increase market share[124]. - The company plans to hire and train more design and technical talents to further solidify its product development capabilities[126]. Corporate Governance - The board of directors includes three independent non-executive directors, ensuring compliance with GEM listing rules[61]. - The company has implemented corporate governance practices in line with GEM listing rules, enhancing transparency and accountability[58]. - The company has established a compliance officer role to oversee regulatory adherence and corporate governance[56]. - The company is committed to regular reviews of delegated responsibilities to ensure effective management and operations[59]. - The company has a dedicated company secretary responsible for managing corporate governance matters[54]. - All independent non-executive directors have confirmed their independence according to GEM listing rules, ensuring a strong independent element in the board[62]. - The board has implemented an independence assessment mechanism to enhance efficiency and identify areas for improvement, which was deemed effective as of April 30, 2023[62]. - The company supports a clear division of responsibilities between the chairman and the CEO to maintain balanced judgment[65]. - The board held a total of 5 meetings during the year, with all directors actively participating[70]. - The company has adopted trading standards for directors in compliance with GEM listing rules, with all directors confirming adherence for the year ending April 30, 2023[72]. - Continuous professional training is provided to directors to keep them updated on regulatory developments and market changes[68]. - The company has established written guidelines for employees regarding insider trading, ensuring compliance with trading standards[72]. - The board is responsible for overseeing corporate governance policies and compliance with legal and regulatory requirements[74]. Environmental, Social, and Governance (ESG) Initiatives - The company has complied with the "comply or explain" provisions of the Environmental, Social, and Governance (ESG) reporting guidelines during the reporting period[110]. - The board is responsible for setting the overall ESG direction and management policies, ensuring effective implementation of ESG measures[111]. - The company conducted a stakeholder engagement process to identify significant environmental and social issues impacting business operations[115]. - A materiality assessment was performed through various channels, including shareholder meetings and surveys, to understand stakeholders' concerns and priorities[116]. - The company has established key performance indicators (KPIs) for measuring and comparing ESG performance[113]. - The board will continue to monitor ESG-related work and ensure compliance with operational and social responsibility goals[111]. - The company encourages stakeholders to provide feedback on its ESG policies and performance[122]. - The company achieved a total greenhouse gas emission of 432.0 tons in 2023, a reduction from 782.6 tons in 2022, marking a significant decrease of approximately 44.8%[130]. - The company reported indirect greenhouse gas emissions of 430.7 tons, accounting for 99.7% of total emissions, while other indirect emissions were only 1.3 tons, representing 0.3%[130]. - The company set a target of 831.6 tons for greenhouse gas emissions in 2023, successfully achieving a 1% reduction from the previous year's target of 840 tons[130]. - Energy consumption decreased by 44.8% from 936,361 MWh in 2022 to 517,088 MWh in 2023[138]. - Water consumption also saw a reduction of 23.6%, from 12,925 cubic meters in 2022 to 9,878 cubic meters in 2023[138]. - The company’s packaging material consumption decreased by 20%, from 10 tons in 2022 to 8 tons in 2023[138]. - The company plans to implement an environmental management system to identify significant environmental impacts and improve overall environmental performance[141]. Employee Management - Employee count decreased to 120 from 251, with total salary costs for the year being approximately HKD 13.4 million, down from HKD 20.2 million[35]. - The overall employee turnover rate was 72%, with a turnover rate of 45% for part-time employees and 55% for full-time employees, compared to 65% and 35% respectively in 2022[153]. - The company has established a systematic performance evaluation system to assess employee performance, which influences salary increases and promotion opportunities[150]. - The company strictly adheres to labor laws in China, ensuring compliance with regulations regarding compensation, recruitment, and employee rights[143]. - The company organized various team-building activities to foster a sense of belonging among employees during the reporting period[149]. - The company has implemented a series of measures to ensure occupational health and safety, including regular fire drills and maintaining clear emergency exits[158]. - The company provided competitive compensation and gifts to retain talented employees, aiming to create a harmonious work environment[153]. - All employees received training, totaling 1,047 hours, with an average of 3 hours per employee, achieving a 100% training rate across all levels[163][164]. Supply Chain and Quality Management - The company has 225 suppliers, with 220 located in mainland China, and conducts biannual evaluations to ensure product quality and compliance with environmental and social standards[168]. - The company adheres to the ISO 9001:2008 quality management system, ensuring all products meet safety standards set by UL and CSA[172]. - The automated production lines in the Dongguan factory enhance capacity and productivity while reducing human error, contributing to better quality management[177]. - There were no significant complaints or product recalls related to safety issues during the reporting period[178]. Customer and Market Insights - For the fiscal year ending April 30, 2023, the total sales from the top five customers accounted for approximately 88.1% of total revenue, up from 73.7% in 2022, with the largest customer contributing 51.9% of total revenue compared to 33.3% in 2022[192]. - The top five suppliers represented about 49.3% of total procurement, an increase from 32.2% in 2022, with the largest supplier accounting for 19.2% of total procurement, up from 9.2% in 2022[192]. Compliance and Risk Management - The company reported no significant violations of intellectual property laws during the reporting period[179]. - There were no incidents of non-compliance with data protection laws that had a significant impact on the company during the reporting period[180]. - The board confirmed that there are no significant uncertainties affecting the company's ability to continue as a going concern[93]. - The risk management and internal control systems are designed to protect assets and manage operational risks, with the board responsible for evaluating acceptable risk levels[94]. - The company has implemented monitoring procedures to prevent unauthorized access and use of internal data, alongside a whistleblowing policy to combat corruption and bribery[96]. - The company has established a whistleblowing mechanism to report misconduct and corruption, ensuring confidentiality and fair handling of all reports[182]. - The company strictly adheres to anti-corruption laws and has not recorded any concluded corruption cases involving its employees during the reporting period[182]. Dividend and Financial Policies - The company did not recommend any dividend payment for the year ended April 30, 2023[38]. - The board confirmed that there are no significant uncertainties affecting the company's ability to continue as a going concern[93]. - The company has adopted a dividend policy, with dividends to be proposed and/or declared based on the financial condition and factors outlined in the policy[106].

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 Bortex Global Limited 濠亮環球有限公司* （於開曼群島註冊成立之有限公司） （股份代號： 8118） 截 至 二 零 二 三 年 四 月 三 十 日 止 年 度 之 年 度 業 績 公 告 濠 亮 環 球 有 限 公 司（「本 公 司」）及 其 附 屬 公 司（統 稱 為「本 集 團」）董 事（「董 事」） 會（「董 事 會」）欣 然 公 佈 本 集 團 截 至 二 零 二 三 年 四 月 三 十 日 止 年 度 之 經 審 核 綜 合 業 績 連 同 比 較 數 字。本 公 告 載 有 本 公 司 二 零 二 三 年 年 度 報 告 全 文， 乃 符 合 香 港 聯 合 交 易 所 有 限 公 司G ...

Financial Performance - For the nine months ended January 31, 2023, Bortex Global Limited reported revenue of approximately HKD 61.3 million, a decrease of about 55.7% compared to HKD 138.4 million in the same period of 2022[8]. - The gross profit for the same period was approximately HKD 11.2 million, down approximately 68.9% from HKD 36.0 million year-on-year[8]. - The company recorded a loss of approximately HKD 0.3 million for the nine months, a decrease of about HKD 16.0 million compared to the previous year, primarily due to significant revenue declines from customers in China, Canada, and Hong Kong[8]. - The total comprehensive income for the nine months was HKD 402,000, a significant drop from HKD 19.1 million in the same period of 2022[9]. - The basic and diluted loss per share for the nine months was HKD 0.05, compared to earnings of HKD 3.10 per share in the previous year[11]. - The group recorded a loss attributable to equity holders of HKD 270,000 for the nine months ended January 31, 2023, compared to a profit of HKD 15,666,000 for the same period in 2022[30]. - The group's net loss for the nine months ended January 31, 2023, was approximately HKD 0.3 million, a decrease of about HKD 16.0 million compared to the same period in 2022[33]. Revenue Breakdown - Revenue from LED decorative lights for the nine months ended January 31, 2023, was HKD 61,308,000, down 50.1% from HKD 122,484,000 in the previous year[24]. - Revenue from customers in China and Hong Kong was approximately HKD 6.0 million, a significant decrease of HKD 64.2 million or 64.2% compared to HKD 70.2 million for the same period in 2022[32]. - Revenue from Canada for the nine months ended January 31, 2023, was HKD 35,175,000, a decrease of 30.1% from HKD 50,368,000 in 2022[21]. - Revenue from the United States increased to HKD 15,239,000 for the nine months ended January 31, 2023, up 39.5% from HKD 10,894,000 in the previous year[21]. - Revenue from Hong Kong decreased to HKD 5,268,000 for the nine months ended January 31, 2023, down 84.8% from HKD 34,644,000 in 2022[21]. - Revenue from Canadian LED decorative light products was approximately HKD 35.2 million, a decrease of about HKD 15.2 million or 30.2% compared to HKD 50.4 million for the same period in 2022[32]. - Revenue from US customers increased by approximately HKD 4.3 million or 39.4% to HKD 15.2 million for the nine months ended January 31, 2023, compared to HKD 10.9 million for the same period in 2022[33]. Expenses and Dividends - The company’s administrative expenses for the nine months were approximately HKD 10.9 million, slightly down from HKD 11.6 million in the previous year[9]. - The sales and distribution expenses for the nine months were approximately HKD 1.3 million, down from HKD 2.2 million in the previous year[9]. - The group reported a total tax expense of HKD 828,000 for the nine months ended January 31, 2023, compared to HKD 2,833,000 in the previous year[27]. - The group did not declare any dividends for the current period, consistent with the previous year[26]. - The group did not declare an interim dividend for the nine months ended January 31, 2023[46]. Corporate Governance and Shareholding - As of January 31, 2023, Mr. Shao Guoliang holds 234,000,000 shares, representing approximately 46.8% of the company's equity[47]. - Mr. Shao Chiliang is a beneficial owner of 7,280,000 shares, accounting for approximately 1.46% of the company's equity[47]. - Real Charm Corp, which is wholly owned by Mr. Shao Guoliang, also holds 234,000,000 shares, equivalent to 46.8% of the company's equity[51]. - No other directors or key executives held any shares or related securities in the company as of January 31, 2023[50]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending January 31, 2023[55]. - The company has adhered to the corporate governance code as per GEM Listing Rules throughout the nine months ending January 31, 2023[56]. - The company is committed to maintaining high standards of corporate governance to build trust with shareholders and stakeholders[56]. - There are no known competitive businesses or conflicts of interest involving directors or major shareholders as of January 31, 2023[54]. Operational Developments - The company is exploring new business activities, including the production and sales of home-based AI robots related to traditional Chinese medicine, to enhance operational and financial performance[36]. - The group has a single operating segment focused on the design, manufacture, and sale of LED lighting products[20]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ending January 31, 2023[62]. - The company has not granted any options under the share option scheme since its adoption[60].

Financial Performance - Revenue for the six months ended October 31, 2022, was HKD 54,742 thousand, a decrease of 51.0% compared to HKD 111,497 thousand for the same period in 2021[17] - Gross profit for the same period was HKD 10,237 thousand, down 65.1% from HKD 29,302 thousand in the previous year[17] - The company reported a net loss of HKD 2,656 thousand for the six months ended October 31, 2022, compared to a profit of HKD 4,487 thousand in the same period of 2021[17] - Total comprehensive loss for the period was HKD 9,705 thousand, compared to a comprehensive income of HKD 5,561 thousand in the previous year[17] - The total comprehensive income for the period was HKD 3,452,000, a decrease from HKD 13,611,000 in the previous year[23] - The company reported a loss before tax of HKD 6,811 thousand for the six months ended October 31, 2022, compared to a profit of HKD 44,505 thousand in the same period of 2021[54] - For the six months ended October 31, 2022, the loss attributable to equity holders was HKD 3,452,000, down from a profit of HKD 13,611,000 in the previous year[65] - Profit for the six months ended October 31, 2022, was approximately HKD 3.5 million, a decrease of about HKD 10.1 million or 74.3% compared to HKD 13.6 million for the same period in 2021[104] Assets and Liabilities - Non-current assets decreased to HKD 26,195 thousand as of October 31, 2022, from HKD 31,842 thousand as of April 30, 2022, representing a decline of 17.8%[20] - Current assets included inventories of HKD 72,302 thousand, slightly down from HKD 73,622 thousand as of April 30, 2022[20] - Trade receivables decreased to HKD 33,353 thousand from HKD 42,106 thousand, a reduction of 20.8%[20] - The company's cash and bank balances were HKD 30,851 thousand, down from HKD 46,595 thousand, indicating a decrease of 33.9%[20] - Total liabilities decreased to HKD 40,100 thousand from HKD 45,388 thousand, a reduction of 11.9%[20] - The company's equity as of October 31, 2022, was HKD 165,273 thousand, down from HKD 170,214 thousand as of April 30, 2022[20] - Trade receivables as of October 31, 2022, amounted to HKD 33,353,000, a decrease from HKD 49,254,000 as of April 30, 2022[69] - Trade payables as of October 31, 2022, were HKD 10,505,000, down from HKD 12,456,000 as of April 30, 2022[75] - Accrued expenses were HKD 3,975,000 as of October 31, 2022, compared to HKD 5,215,000 as of April 30, 2022[77] Cash Flow - For the six months ended October 31, 2022, the company reported a net cash outflow from operating activities of HKD 17,363,000, compared to HKD 10,470,000 for the same period in 2021[28] - As of October 31, 2022, the company's cash and cash equivalents decreased to HKD 40,347,000 from HKD 50,225,000 in the prior year[28] - The company reported a net cash inflow from investing activities of HKD 253,000, contrasting with a cash outflow of HKD 1,122,000 in the previous year[28] - The financing activities resulted in a cash outflow of HKD 2,405,000, compared to an inflow of HKD 1,394,000 in the same period last year[28] Revenue Breakdown - Revenue from LED decorative lights for the six months ended October 31, 2022, was HKD 54,742 thousand, down 45.9% from HKD 101,093 thousand in the same period of 2021[50] - Revenue from the United States for the six months ended October 31, 2022, was HKD 14,863 thousand, an increase of 83.5% compared to HKD 8,077 thousand in the same period of 2021[44] - Revenue from major customers accounted for 31.1% of trade receivables as of October 31, 2022, up from 22.7% in the same period of 2021[48] Expenses - Research and development expenses for the six months ended October 31, 2022, were HKD 22 thousand, down from HKD 34 thousand in the same period of 2021[54] - Selling and distribution expenses decreased by approximately HKD 0.6 million or 37.5% to about HKD 1.0 million, primarily due to reduced shipping costs[97] - Administrative expenses decreased by approximately HKD 1.4 million or 16.9% to about HKD 6.9 million, mainly due to reduced legal and professional fees[98] Corporate Governance and Management - The company did not declare or propose any dividends during the reporting period[61] - The company has maintained compliance with the corporate governance code as per GEM listing rules during the reporting period[137] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ending October 31, 2022[142] - The company has not granted any options under the share option scheme since its adoption[140] - There were no known business or interest conflicts involving directors or major shareholders during the reporting period[133] Future Plans and Developments - The company plans to expand its business activities into new electronic product production lines and sales, including home-based AI robots related to traditional Chinese medicine[89] - The group plans to use the remaining unutilized proceeds by the end of 2022, focusing on upgrading production facilities and enhancing product quality[120] Shareholding Structure - As of October 31, 2022, Mr. Shao Guoliang holds 234,000,000 shares, representing approximately 46.8% of the company's equity[124] - Mr. Shao Chiliang is the beneficial owner of 7,280,000 shares, accounting for 1.46% of the company's equity[124] - Real Charm Corp, fully owned by Mr. Shao Guoliang, also holds 234,000,000 shares, equivalent to 46.8% of the company's equity[129] - Ms. Zhong Ruchun, as a spouse, is considered to have an interest in 234,000,000 shares, which is 46.8% of the company's equity[129] - No other directors or key executives held any shares or interests in the company or its affiliates as of October 31, 2022[125] Operational Challenges - The business environment has been affected by trade conflicts, social unrest in Hong Kong, and the COVID-19 outbreak since 2020, impacting the timeline for utilizing the IPO proceeds[121] - The company experienced a foreign exchange loss of HKD 8,393,000 during the period, impacting the overall financial results[23] - The group incurred a foreign exchange loss of approximately HKD 0.7 million for the six months ending October 31, 2022, compared to a foreign exchange gain of approximately HKD 0.1 million for the same period in 2021[111]

Financial Performance - For the three months ended July 31, 2022, the group's revenue was approximately HKD 46.7 million, a decrease of about HKD 9.8 million or 17.3% compared to HKD 56.5 million in the same period last year[13] - The gross profit for the same period was approximately HKD 9.0 million, down about 40.8% from HKD 15.2 million in the previous year[14] - The profit for the period was approximately HKD 6.1 million, a decrease of about HKD 3.0 million or 33.0% compared to HKD 9.1 million in the same period last year, primarily due to reduced revenue from LED lighting and decorative products[15] - The total comprehensive income for the period was HKD 4.76 million, down from HKD 9.29 million in the previous year[19] - Basic and diluted earnings per share for the period were HKD 1.22, compared to HKD 1.82 in the same period last year[19] - The group reported a foreign exchange loss of HKD 1.34 million from the translation of overseas operations[19] - Revenue for the three months ended July 31, 2022, was approximately HKD 46.7 million, a decrease of about HKD 9.8 million or 17.3% compared to HKD 56.5 million for the same period in 2021[50] - Net profit for the three months ended July 31, 2022, was approximately HKD 6.1 million, a decrease of about HKD 3.0 million or 33.0% compared to HKD 9.1 million for the same period in 2021[51] Dividend and Shareholder Returns - The board has resolved not to declare an interim dividend for the three months ended July 31, 2022, consistent with the previous year[16] - The group did not declare or propose any dividends for the three months ended July 31, 2022, consistent with the previous year[40] - The company has decided not to declare an interim dividend for the three months ended July 31, 2022[67] Revenue Breakdown - Revenue from Canadian customers increased by approximately HKD 11.8 million or 52.9%, reaching about HKD 22.3 million compared to the same period last year[50] - Revenue from U.S. customers rose approximately HKD 8.7 million or 271.9%, totaling about HKD 11.9 million for the three months ended July 31, 2022[50] - For the three months ended July 31, 2022, the revenue from LED decorative light products was approximately HKD 46.7 million, a decrease of about HKD 5.1 million or 9.8% compared to the same period in 2021 (HKD 51.8 million)[56] - The revenue from LED lighting products was nil for the three months ended July 31, 2022, compared to approximately HKD 4.7 million in the same period in 2021, due to a lack of sales orders from Chinese customers[57] Cost and Expenses - The cost of sales for the three months ended July 31, 2022, was HKD 37.7 million, compared to HKD 41.3 million for the same period in 2021[39] - Selling and distribution expenses for the three months ended July 31, 2022, were approximately HKD 0.5 million, a decrease of about HKD 0.2 million or 28.6% compared to the same period in 2021 (HKD 0.7 million)[62] - Administrative expenses for the three months ended July 31, 2022, were approximately HKD 3.3 million, a decrease of about HKD 0.5 million or 13.2% compared to the same period in 2021 (HKD 3.8 million)[64] - Total tax expenses for the three months ended July 31, 2022, amounted to HKD 1.3 million, a decrease from HKD 2.0 million in the same period last year[43] Research and Development - The group’s R&D expenses for the three months ended July 31, 2022, were HKD 19,000, slightly down from HKD 22,000 in the previous year[39] Future Outlook and Strategy - The company continues to focus on the LED lighting market, which remains a key area for future growth despite recent revenue declines[27] - Management believes that the gradual easing of lockdown measures in China and Hong Kong will be a decisive factor for business recovery in the second half of 2022[52] - The group plans to continue a prudent and balanced risk management approach in the coming years, leveraging tax incentives from the production line in Cambodia to enhance competitiveness[52] - The company is exploring new business activities, including the production and sale of home-based AI robots related to traditional Chinese medicine, which management believes will enhance operational and financial performance[55] Corporate Governance - The company has not engaged in any competitive business activities or conflicts of interest with its directors or major shareholders during the three months ended July 31, 2022[80] - No purchase, sale, or redemption of the company's listed securities occurred during the three months ended July 31, 2022[81] - The company has adhered to the corporate governance code as per GEM listing rules during the three months ended July 31, 2022[82] - The audit committee reviewed the unaudited consolidated financial statements for the three months ended July 31, 2022[89] - The company has not granted any options under the share option scheme since its adoption[87]

Financial Performance - The company's revenue decreased by approximately HKD 51.0 million or 25.4% to about HKD 149.9 million for the year ended April 30, 2022, compared to HKD 200.9 million in 2021[13]. - The net profit dropped to approximately HKD 5.7 million, down from HKD 24.1 million in 2021[13]. - For the year ended April 30, 2022, the company's revenue was approximately HKD 149.9 million, a decrease of about HKD 51.0 million or 25.4% compared to the previous year[18]. - Revenue from LED lighting products decreased by approximately HKD 35.4 million or 65.4%, while revenue from LED decorative lights decreased by approximately HKD 15.5 million or 10.6%[18]. - Sales from US customers decreased from approximately HKD 22.8 million to about HKD 15.5 million, a reduction of approximately HKD 7.3 million or 32.0%[19]. - The company's gross profit decreased from approximately HKD 55.2 million to about HKD 33.3 million, a decline of approximately HKD 21.9 million or 39.7%[26]. - The gross profit margin decreased from approximately 27.5% to about 22.2% due to increased sales of lower-margin LED decorative lights[26]. - The company's net profit for the year was approximately HKD 5.7 million, a decrease of about HKD 18.4 million or 76.3% compared to the previous year[33]. - Cash and bank balances as of April 30, 2022, were approximately HKD 57.0 million, down from HKD 58.9 million the previous year[35]. - The current ratio as of April 30, 2022, was 4.4 times, compared to 4.7 times the previous year[35]. Operational Challenges - The manufacturing operations were impacted by city lockdown policies during the Chinese New Year, leading to a temporary halt or low production activity from February to March 2022[11]. - The Cambodian factory has been operational since October 2020, but has not yet achieved full capacity due to the pandemic situation in Cambodia[12]. - The global economic outlook remains affected by the pandemic, prompting the company to adopt a cautious and balanced risk management approach[14]. - The demand for lighting products has significantly increased despite the overall decrease in revenue due to cautious consumer behavior[11]. Strategic Initiatives - The company plans to expand its product portfolio to strengthen its market position both locally and internationally[14]. - The company aims to enhance its reputation and build confidence among overseas customers through the establishment of the Cambodian factory[12]. - Management believes that the global vaccination progress and easing of lockdown measures will be key factors for economic recovery in the second half of 2022[20]. - The group purchased 6 new automatic welding machines and upgraded 15 machines to enhance the production of LED decorative lights[48]. - A total of 11 patent applications and one new patent application were submitted to expand the product portfolio and strengthen product development capabilities[48]. - The group hired 7 new sales personnel to strengthen sales and marketing efforts as of April 30, 2022[51]. Corporate Governance - The board of directors is responsible for leading, controlling, and managing the company, ensuring effective operations and growth to enhance shareholder value[80]. - The board composition as of April 30, 2022, includes 4 executive directors and 3 independent non-executive directors, complying with GEM listing rules[83]. - The company has received annual confirmations of independence from all independent non-executive directors, affirming their compliance with GEM listing rules[84]. - The chairman and CEO roles are separated to ensure a balance of power, with the current chairman being Mr. Shao Guoliang and Mr. Shao Chiliang serving as CEO since March 10, 2022[88]. - All directors undergo formal training upon appointment to understand the company's operations and regulatory responsibilities[92]. - The company has established a policy for the appointment and removal of directors, with terms set at two years[89]. - The board regularly reviews the delegated responsibilities to senior management, ensuring major transactions require prior board approval[80]. - Independent non-executive directors contribute to the board by providing diverse business and financial expertise, ensuring checks and balances for the company and shareholders[83]. - The company emphasizes continuous professional development for directors, providing updates on regulatory changes and market developments[92]. - The board has complied with the corporate governance code throughout the fiscal year ending April 30, 2022[81]. Environmental and Social Responsibility - The company has adhered to the "comply or explain" principle of the Environmental, Social, and Governance (ESG) reporting guidelines during the reporting period[155]. - The board believes that good ESG practices can enhance corporate investment value and provide long-term returns to stakeholders[156]. - The company has completed its ESG targets during the reporting period and will regularly review the progress of these targets to continuously improve its environmental performance[156]. - The company has implemented social responsibility standards such as SA8000:2014 in its operational and management policies[176]. - The company has conducted a materiality assessment to identify significant environmental and social issues impacting stakeholders[161]. - The company has not violated any significant environmental laws and regulations related to air and greenhouse gas emissions during the reporting period[177]. - The company encourages employees at all levels to consider environmental protection as an important factor in business decision-making[172]. - The company has completely eliminated all fossil fuel vehicles in its operations, achieving zero direct air emissions during the reporting period[178]. - Total greenhouse gas emissions amounted to 782.6 tons CO₂ equivalent, a decrease from 886.0 tons in 2021, with a greenhouse gas emission intensity of approximately 5.2 tons per million revenue[183]. - The company set a greenhouse gas emission target of 840 tons for the reporting period and successfully met this target[184]. - Energy consumption decreased by 13.9% to 936,361 MWh from 1,087,160 MWh in 2021, with a target of 1,000,000 MWh achieved[194]. - Water consumption also decreased by 13.0% to 12,925 cubic meters, with no issues in obtaining water for daily operations[194]. - The company plans to implement an environmental management system to identify significant environmental impacts and improve overall environmental performance[199]. - The board will lead discussions on climate change and related risks, with policies to be developed to address identified issues[200].

Financial Performance - The group's revenue for the nine months ended January 31, 2022, was approximately HKD 138.4 million, a decrease of about 18.3% compared to HKD 169.5 million in the same period of 2021[7]. - Gross profit for the nine months was approximately HKD 36.0 million, down 26.7% from HKD 49.1 million year-on-year[8]. - Profit for the period was approximately HKD 15.7 million, a decrease of about 27.6% compared to HKD 21.7 million in the same period of 2021[8]. - The total comprehensive income for the nine months was HKD 19.1 million, down from HKD 29.2 million in the previous year[14]. - The company’s basic earnings per share for the nine months was HKD 3.10, compared to HKD 4.33 in the same period of 2021[14]. - The company reported a net profit of HKD 2.1 million for the three months ended January 31, 2022, compared to HKD 6.3 million in the same period of 2021[12]. - The company reported a net loss of HKD 583,000 due to foreign exchange losses for the nine months ended January 31, 2022[28]. Revenue Breakdown - The company experienced a significant decrease in revenue from LED lighting products, which contributed to the overall decline in profit[8]. - Revenue from the LED decorative lights and LED lighting products for the nine months ended January 31, 2022, was HKD 122,484,000 and HKD 15,898,000 respectively[27]. - The revenue from the Chinese market (excluding Hong Kong) for the nine months ended January 31, 2022, was HKD 35,640,000, down from HKD 52,733,000 in the previous year[24]. - The revenue from the US market for the nine months ended January 31, 2022, was HKD 10,894,000, a decrease of 35.2% compared to HKD 16,827,000 in the previous year[24]. - Revenue from LED lighting products decreased significantly by approximately HKD 21.1 million or 57.0%, while revenue from LED decorative lighting products decreased by approximately HKD 10.0 million or 7.5%[39][44]. Expenses and Costs - The total operating expenses for the nine months ended January 31, 2022, amounted to HKD 102,391,000, a decrease from HKD 120,387,000 in the previous year[28]. - The total tax expense for the nine months ended January 31, 2022, was HKD 2,833,000, a decrease from HKD 6,946,000 in the previous year[32]. - Sales and distribution expenses decreased by approximately HKD 0.8 million or 26.7% to about HKD 2.2 million for the nine months ended January 31, 2022[48]. - Administrative expenses decreased by approximately HKD 3.2 million or 21.6% to about HKD 11.6 million for the nine months ended January 31, 2022[49]. - The company incurred research and development expenses of HKD 40,000 for the nine months ended January 31, 2022, compared to HKD 90,000 in the previous year[28]. Dividends and Shareholder Information - The board decided not to declare an interim dividend for the period[9]. - The company did not declare any dividends for the period ended January 31, 2022, consistent with the previous year[29]. - Major shareholder Real Charm Corp holds 234,000,000 shares, representing 46.8% of the company's total issued shares as of January 31, 2022[61]. - The beneficial owner of Real Charm Corp, Mr. Shao Guoliang, is considered to have an interest in the company's shares due to his full ownership of Real Charm Corp[61]. - No other directors or key executives were reported to have any interests or short positions in the company's shares as of January 31, 2022[59]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to build trust with shareholders and stakeholders[67]. - The company has complied with the corporate governance code as per GEM listing rules during the nine months ending January 31, 2022[67]. - The board of directors confirmed compliance with the trading rules for securities transactions during the nine months ending January 31, 2022[70]. - There were no reported conflicts of interest or competitive businesses held by directors or major shareholders as of January 31, 2022[65]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ending January 31, 2022[74]. Future Outlook - The company plans to enhance marketing efforts to attract potential customers in the U.S. and expand its customer base due to tax incentives from its new production line in Cambodia[40][42]. - The management believes that the progress of global vaccination and the easing of lockdown measures will be decisive factors for global economic recovery in the second half of 2022[42]. Other Information - The company has no capital commitments for property, plant, and equipment as of January 31, 2022[36]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending January 31, 2022[66]. - The company has adopted a share option scheme effective from November 16, 2017, which is valid for 10 years, but no options have been granted under this scheme since its adoption[71][72].

Financial Performance - Revenue for the six months ended October 31, 2021, was HKD 54,979,000, a decrease of 22.6% compared to HKD 71,271,000 for the same period in 2020[19] - Gross profit for the same period was HKD 14,071,000, representing a gross margin of 25.6%[19] - The net profit for the six months ended October 31, 2021, was HKD 4,487,000, down 52.7% from HKD 9,472,000 in the previous year[19] - Total comprehensive income for the period was HKD 5,561,000, a decrease of 54.3% compared to HKD 12,177,000 in the same period last year[19] - Basic and diluted earnings per share for the period were HKD 0.90, down from HKD 1.89 in the previous year[19] - The company reported a foreign exchange gain of HKD 1,074,000 for the period, compared to HKD 2,705,000 in the same period last year[19] - The company reported a net profit of HKD 15,407,000 for the six months ended October 31, 2021, compared to a profit of HKD 13,611,000 for the same period in 2020, representing an increase of approximately 13.2%[23] - The group reported a profit attributable to owners of the company of HKD 13,611,000 for the six months ended October 31, 2021, compared to HKD 15,407,000 for the same period in 2020, representing a decrease of 12%[67] - The net profit for the six months ended October 31, 2021, decreased by approximately HKD 1.8 million or 11.7% to about HKD 13.6 million, compared to approximately HKD 15.4 million for the six months ended October 31, 2020[131] - The overall profit margin decreased from approximately 12.7% to about 12.2% due to a reduction in gross profit[131] Revenue Breakdown - Revenue from Canada for the six months ended October 31, 2021, was HKD 49,962,000, a significant increase from HKD 33,934,000 in the same period of 2020, marking a growth of approximately 47.2%[42] - Revenue from the United States decreased to HKD 8,077,000 for the six months ended October 31, 2021, down from HKD 16,702,000 in the same period of 2020, representing a decline of about 51.5%[42] - The company's total revenue for the six months ended October 31, 2021, was HKD 111,497,000, compared to HKD 121,139,000 for the same period in 2020, reflecting a decline of about 8.0%[42] - For the six months ended October 31, 2021, the total revenue was HKD 111,497,000, a decrease of 8% compared to HKD 121,139,000 for the same period in 2020[49] - Revenue from LED decorative lights was HKD 101,093,000 for the six months ended October 31, 2021, down 4% from HKD 106,284,000 in the same period of 2020[49] - Revenue from LED lighting products was HKD 10,404,000 for the six months ended October 31, 2021, a decrease of 30% compared to HKD 14,855,000 for the same period in 2020[49] - Revenue from LED decorative light products was approximately HKD 101.1 million, a decrease of about HKD 5.2 million or 4.9% compared to HKD 106.3 million in the same period last year[119] - Revenue from LED lighting products was approximately HKD 10.4 million, a significant decline of about HKD 4.5 million or 30.2% compared to HKD 14.9 million in the same period last year[120] Assets and Liabilities - Current assets increased to HKD 211,626,000 as of October 31, 2021, compared to HKD 187,182,000 as of April 30, 2021[20] - Trade receivables rose to HKD 62,037,000 from HKD 49,402,000, indicating a 25.4% increase[20] - Total liabilities increased to HKD 47,279,000 from HKD 40,732,000, reflecting a rise of 15.0%[20] - The company's net assets increased to HKD 180,955,000 as of October 31, 2021, compared to HKD 166,104,000 as of April 30, 2021[20] - Trade receivables increased to HKD 65,310,000 as of October 31, 2021, up from HKD 50,120,000 as of April 30, 2021, representing a growth of 30.2%[72] - The expected credit loss provision for trade receivables rose to HKD 3,253,000 as of October 31, 2021, compared to HKD 718,000 as of April 30, 2021, indicating a significant increase in credit risk[75] - Trade payables increased to HKD 13,258,000 as of October 31, 2021, compared to HKD 6,069,000 as of April 30, 2021, reflecting a growth of 118.1%[79] - Accrued expenses decreased to HKD 3,708,000 as of October 31, 2021, down from HKD 4,592,000 as of April 30, 2021, showing a reduction of 19.2%[82] - The group reported a total of HKD 29,955,000 in deposits, prepayments, and other receivables as of October 31, 2021, compared to HKD 11,223,000 as of April 30, 2021, marking an increase of 166.5%[78] Cash Flow and Financing - The company experienced a net cash outflow from operating activities of HKD 10,470,000 for the six months ended October 31, 2021, compared to a cash inflow of HKD 13,445,000 in the same period of 2020[28] - The company reported a total cash and cash equivalents balance of HKD 50,225,000 as of October 31, 2021, slightly up from HKD 50,043,000 at the end of the previous year[28] - The company’s cash flow from financing activities generated HKD 1,394,000 for the six months ended October 31, 2021, compared to HKD 9,587,000 in the same period of 2020, indicating a decrease of approximately 85.4%[28] - As of October 31, 2021, the group's cash and bank balances were approximately HKD 50.3 million, down from HKD 58.9 million as of April 30, 2021[133] - The current ratio as of October 31, 2021, was 4.5 times, slightly down from 4.7 times as of April 30, 2021, indicating sufficient resources to meet operational financial needs[133] Research and Development - The group incurred research and development expenses of HKD 435,000 for the six months ended October 31, 2021, compared to HKD 97,000 in the same period of 2020[55] - The group has submitted 11 patent applications, with one new application filed during the six months ended October 31, 2021[146] - The company plans to enhance the automation level and efficiency of its LED decorative light series as part of its product development strategy[151] - The company aims to expand its product portfolio and strengthen product development capabilities, allocating 5% of the funds, or HKD 1.5 million, for this purpose[151] Corporate Governance and Compliance - The group did not declare or propose any dividends during the reporting period[61] - The board decided not to declare an interim dividend for the six months ended October 31, 2021[142] - The company has adhered to the corporate governance code as per GEM listing rules during the reporting period[171] - The company has not granted any stock options under the stock option plan since its adoption on November 16, 2017[174] - The audit committee was established on October 24, 2017, consisting of three independent non-executive directors[177] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended October 31, 2021[178] Marketing and Sales Strategy - The company plans to enhance its marketing efforts to attract potential customers in the U.S. and expand its customer base, leveraging tax incentives for exports to the U.S.[115] - The company expects global economic recovery to improve sales, particularly from North American customers, as vaccination rates increase and lockdown measures are relaxed[116] - The group hired 7 new sales personnel to strengthen sales and marketing efforts[149] - The group participated in trade exhibitions in Hong Kong and conducted market exploration in the USA, Philippines, Europe, and West Africa during 2019 and 2020[149] Capital Utilization - The company utilized approximately 55% of the total funds for upgrading production facilities, amounting to HKD 16.6 million[151] - A total of HKD 30.1 million was raised, with HKD 25.3 million already utilized and HKD 4.8 million remaining[151] - 25% of the funds, equating to HKD 7.5 million, was allocated for repaying short-term bank loans and finance leases[151] - General working capital accounted for 10% of the total funds, amounting to HKD 3.0 million[151] - The expected timeline for utilizing the remaining funds is based on the company's best estimates, considering current and future market conditions[152] Production Efficiency - The group upgraded 44 existing machines and purchased 6 new automatic welding machines to enhance production efficiency for LED decorative lights[146]

Financial Performance - For the three months ended July 31, 2021, the group's revenue was approximately HKD 56.5 million, an increase of about 13.2% compared to approximately HKD 49.9 million in the same period of 2020[7] - The gross profit for the same period was approximately HKD 15.2 million, up about 11.8% from approximately HKD 13.6 million in the prior year[8] - The profit for the period was approximately HKD 9.1 million, representing an increase of about 54.2% compared to HKD 5.9 million in the same period of 2020[9] - The pre-tax profit for the period was HKD 11.2 million, compared to HKD 7.5 million in the same period of 2020[13] - The basic and diluted earnings per share for the period were HKD 1.82, compared to HKD 1.19 in the same period of 2020[13] - The total comprehensive income for the period was HKD 9.3 million, compared to HKD 7.7 million in the same period of 2020[13] - The company reported a net profit attributable to equity holders of HKD 9,046,000 for the three months ended July 31, 2021, compared to HKD 5,935,000 for the same period in 2020, reflecting a growth of 52.5%[45] Revenue Breakdown - For the three months ended July 31, 2021, the company's revenue from LED decorative lights was HKD 51,817,000, an increase of 7.4% compared to HKD 48,176,000 for the same period in 2020[33] - The revenue from LED lighting products was HKD 4,701,000, significantly up from HKD 1,692,000 in the previous year, representing a growth of 177.5%[33] - Total revenue for the three months ended July 31, 2021, was HKD 56,518,000, compared to HKD 49,868,000 for the same period in 2020, marking an overall increase of 13.3%[33] - Revenue from LED decorative light products for the same period was approximately HKD 51.8 million, an increase of about HKD 3.6 million or 7.5% compared to HKD 48.2 million in 2020[53] - Revenue from LED lighting products significantly increased to approximately HKD 4.7 million, a rise of about HKD 3.0 million or 176.5% compared to HKD 1.7 million in 2020[54] Expenses and Costs - The gross profit margin for the period was impacted by the cost of sales, which amounted to HKD 41,287,000, up from HKD 36,277,000 in the previous year[38] - The total tax expense for the period was HKD 2,034,000, an increase from HKD 1,556,000 in the previous year, indicating a rise of 30.7%[40] - Administrative expenses decreased to HKD 3.8 million from HKD 4.8 million in the previous year, aiding profit improvement[9] - Sales and distribution expenses increased to approximately HKD 0.7 million, up about HKD 0.1 million or 16.7% compared to HKD 0.6 million in 2020[57] - The company incurred research and development expenses of HKD 22,000, slightly down from HKD 24,000 in the previous year[38] Dividend and Shareholder Information - The board decided not to declare an interim dividend for the three months ended July 31, 2021, consistent with the previous year[10] - The company did not declare any dividends for the period, consistent with the previous year[39] - Real Charm Corp holds a beneficial interest of 234,000,000 shares, representing 46.8% of the company's ordinary shares[74] - Vanke Creation Co., Ltd. owns 30,000,000 shares, accounting for 6.0% of the company's ordinary shares[74] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended July 31, 2021[84] Corporate Governance - The company maintains high standards of corporate governance to build trust with shareholders and stakeholders[85] - There were no known conflicts of interest or competitive businesses involving directors or major shareholders during the reporting period[81] - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[85] - The board of directors confirmed compliance with trading standards during the three months ended July 31, 2021[86] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended July 31, 2021[92] Future Outlook - The company plans to leverage tax incentives from its new production line in Cambodia to enhance competitiveness and stabilize export sales to North America amid trade tensions[50] - The company will continue to adopt a prudent and balanced risk management approach in the coming years[50] Share Option Scheme - The company has adopted a share option scheme effective from November 16, 2017, which is valid for 10 years[87] - No share options have been granted under the share option scheme since its adoption[88]

Financial Performance - For the fiscal year ending April 30, 2021, the group's revenue increased by approximately HKD 26.1 million or 13.0% to approximately HKD 200.9 million, compared to HKD 174.8 million in 2020[9] - The group's net profit rose to approximately HKD 23.6 million, up from HKD 18.3 million in 2020[9] - The group's revenue for the year ended April 30, 2021, was approximately HKD 200.9 million, an increase of about HKD 26.1 million or 14.9% compared to approximately HKD 174.8 million for the year ended April 30, 2020[15] - Revenue from LED decorative lights increased to approximately HKD 146.8 million, a rise of about HKD 33.3 million or 29.3% from approximately HKD 113.5 million in the previous year[19] - Revenue from LED lighting lights decreased to approximately HKD 54.1 million, a decline of about HKD 7.2 million or 11.7% from approximately HKD 61.3 million in the previous year[20] - The group's gross profit increased to approximately HKD 55.2 million, up about HKD 5.0 million or 10.0% from approximately HKD 50.2 million in the previous year[22] - The group's net profit for the year was approximately HKD 24.1 million, an increase of about HKD 5.6 million or 30.3% compared to the previous year's profit[30] - As of April 30, 2021, the group's cash and bank balances were approximately HKD 58.9 million, compared to HKD 29.8 million as of April 30, 2020[32] - The group's current ratio as of April 30, 2021, was 4.7 times, an increase from 3.7 times in the previous year[32] Business Operations and Strategy - The company has established a factory in Cambodia, which began operations in October 2020, although it has not yet achieved full capacity due to the pandemic situation in Cambodia[8] - The company aims to expand its product portfolio to strengthen its market position both locally and internationally[10] - The company has seen an increase in sales orders from existing customers and has engaged with new customers for business cooperation[8] - The global economic outlook remains affected by the pandemic, prompting the company to adopt a prudent and balanced risk management approach[10] - The company emphasizes the importance of good customer relationships, product quality, and high employee morale for continued business development[8] - The company has maintained a good reputation and product quality in the LED lighting business since its listing in 2017[9] - The company is committed to building a good corporate reputation and enhancing overseas customer confidence through its operations in Cambodia[8] - The group plans to participate in various exhibitions globally in the coming years to enhance its market presence[16] - The new production line in Phnom Penh, Cambodia, is expected to enhance the group's competitiveness due to tax incentives for exports to the United States[16] - The company participated in various exhibitions and trade fairs to expand its sales channels, including events in Hong Kong and the United States[48] Human Resources and Employee Welfare - The total employee count as of April 30, 2021, was 194, a decrease from 199 in 2020, with total salary costs amounting to approximately HKD 24.3 million, up from HKD 21.0 million in 2020[39] - The company hired 7 new sales personnel to strengthen its sales and marketing efforts[48] - The company has a total workforce of 553 employees, with 68% being full-time employees[194] - The group emphasizes the importance of hiring and retaining high-quality employees, following fair and transparent recruitment processes based on objective criteria[199] - Basic salaries are determined according to the group's compensation standards, market salary levels, and employee positions, with discretionary bonuses awarded based on performance[199] - Employees are entitled to various types of leave, including annual leave, sick leave, and maternity leave, in accordance with Chinese labor laws[199] - The group provides statutory social insurance for employees, including pension, unemployment, work injury, medical, maternity insurance, and housing provident fund[199] - The group has prioritized employee welfare during the COVID-19 pandemic by canceling entertainment activities and providing holiday gifts during major festivals[200] - The group expressed care and support for female employees on International Women's Day[200] Corporate Governance - The company emphasizes the importance of good corporate governance for maintaining transparency and accountability[71] - The board of directors is responsible for leading, controlling, and managing the company, ensuring effective operations and growth[73] - The board composition includes three executive directors and at least three independent non-executive directors, complying with GEM listing rules[76] - All directors have a designated term of two years, with provisions for re-election at the annual general meeting[82] - The company has adhered to all principles of the corporate governance code as of April 30, 2021[72] - The chairman and CEO roles are separated to ensure a balance of power and independent judgment[79] - The company has a robust internal control and risk management system in place[73] - The independent non-executive directors contribute to the establishment of effective policies and provide checks and balances for the company[76] - The company secretary oversees overall financial management and compliance matters[67] - The management team is empowered to handle daily operations, with significant transactions requiring board approval[73] - The board of directors has conducted a total of 5 meetings and 1 annual general meeting, with all executive directors attending all meetings[86] - The audit committee held 4 meetings during the year, reviewing the group's financial statements and compliance with accounting principles[95] - The company has adopted the GEM Listing Rules for securities trading standards, with all directors confirming compliance for the year ending April 30, 2021[88] - The company has established a written guideline for employees who may possess insider information regarding securities trading[88] - The independent non-executive directors participated in various training sessions to ensure compliance with corporate governance codes[83] - The audit committee consists of three independent non-executive directors, ensuring compliance with GEM Listing Rules[94] - The company has provided continuous professional development for directors to keep abreast of legal and regulatory developments[83] - The board has established three committees: the remuneration committee, nomination committee, and audit committee, to oversee specific areas of the company's affairs[93] - The company has ensured that all board members have the opportunity to propose agenda items for meetings[86] - The company will notify directors and relevant employees in advance of any trading restrictions related to the company's securities[89] - The company has adopted a board diversity policy to enhance performance, ensuring a balanced composition in terms of skills, knowledge, and experience as of April 30, 2021[105] - The Nomination Committee held two meetings during the year, reviewing the board's structure and recommending the re-election of retiring directors[106] - The Remuneration Committee conducted two meetings to review the company's existing remuneration policies and proposed recommendations to the board regarding the compensation of directors and senior management[111] - The annual salary range for senior management members, including executive directors, was reported, with three individuals earning between 0 to 1,000,000 HKD[112] - The board confirmed its responsibility for preparing the financial statements for the year ending April 30, 2021, ensuring clarity and transparency in reporting[116] - There were no significant uncertainties that could raise doubts about the company's ability to continue as a going concern[117] Risk Management and Internal Control - The risk management and internal control system is designed to protect assets from misappropriation and unauthorized transactions, ensuring operational risk management[118] - The board of directors is responsible for evaluating and determining the nature and extent of risks acceptable to the company in achieving strategic objectives[119] - The audit committee assists the board in overseeing the design, implementation, and monitoring of the risk management and internal control system[119] - The company reported an audit fee of HKD 900,000 for the fiscal year ending April 30, 2021[126] - The risk management and internal control system is reviewed annually, covering financial reporting, internal audit functions, and employee qualifications[119] Environmental and Social Responsibility - During the reporting period, the group generated 886.03 tons of CO2 equivalent greenhouse gas emissions, with a carbon intensity of 0.07 tons of CO2 equivalent per square meter[167] - The overall carbon intensity was 285.8 tons of CO2 equivalent per million products sold, indicating a focus on improving production efficiency and sustainability[167] - The group has eliminated all fossil fuel vehicles in response to China's national policy for peak emissions by 2030 and carbon neutrality by 2060, resulting in zero direct air emissions during the reporting period[164] - The group plans to enhance its product development capabilities by hiring and training more design and technical professionals, aiming to meet diverse customer needs[162] - The group is committed to balancing product quality, profitability, environmental protection, labor management, and community investment to maximize stakeholder satisfaction[158] - The group has implemented key performance indicators (KPIs) for measuring and comparing environmental and social impacts, ensuring transparency in reporting[142] - The group has engaged stakeholders through various channels to identify significant issues that may pose risks to business continuity, including shareholder meetings and surveys[145] - The group aims to strengthen its market position and long-term market share by exploring new business opportunities and expanding its sales network[159] - The group adheres to environmental protection laws and regulations, with no significant violations reported during the reporting period[163] - Total greenhouse gas emissions amounted to 886.03 tons of CO2 equivalent, with 98.67% from purchased electricity[169] - The total energy consumption for the reporting period was 1,087,160 kWh, with a 3% reduction in energy density to 350,697 kWh per million products sold[182] - The total water usage was 11,444 cubic meters, with a water density of 0.95 cubic meters per square meter[183] - The company produced approximately 1,251 kg of non-hazardous waste, primarily from used office paper[175] - The company plans to implement an environmental management system to identify significant environmental impacts and improve overall environmental performance[189] - The company consumed about 20 tons of packaging materials during the reporting period, with a density of 6.45 tons per million products sold[186] - The company has adopted a new carbon emission factor of 0.8042 for calculating emissions from purchased electricity in Guangdong, China[170] - The company recycled 0.006 tons of waste paper during the reporting period[177]