Financial Performance - The Group recorded a revenue of approximately HK$2,141 million for the year ended 31 March 2021, representing an increase of 590% from HK$310 million in 2020[21]. - Net profit for the year attributable to owners of the Company was approximately HK$3 million, a turnaround from a net loss of HK$74 million in 2020[21]. - Earnings per share improved to HK0.05 cent, compared to a loss per share of HK1.85 cents in the previous year[21]. - Shareholders' funds increased by 7% to approximately HK$899 million, up from HK$842 million in 2020[21]. - Net asset value per share rose to HK$0.16, compared to HK$0.15 in the previous year[21]. - The Group's EBIT was HK$13 million, a significant improvement from a loss of HK$76 million in 2020[15]. - EBITDA for the year was HK$23 million, compared to a loss of HK$63 million in the previous year[15]. - The Group's gross profit increased by 115% to approximately HK$118 million, while the gross margin dropped to 5% from 18% due to lower margins from residential units sold[45]. - The Group recorded a profit before tax of approximately HK$10 million, a significant turnaround from a loss of HK$85 million in the previous year[50]. - Profit for the year attributable to owners of the Company amounted to approximately HK$3 million, compared to a loss of HK$74 million in the previous year[52]. Assets and Liabilities - Total assets decreased to HK$3,096 million from HK$4,190 million in 2020[16]. - The current ratio improved to 1.39 from 1.30 in the previous year, indicating better short-term financial health[16]. - The net cash inflow from operating activities was approximately HK$30 million, reversing a net cash outflow of approximately HK$47 million in the previous year[54]. - The Group's total assets amounted to approximately HK$3,096 million as of March 31, 2021, down from HK$4,190 million in 2020[90]. - The Group's bank borrowings were approximately HK$219 million as of March 31, 2021, down from HK$373 million in 2020, with a gearing ratio of 0.24 compared to 0.44 in the previous year[92]. - Cash and cash equivalents as of March 31, 2021, were approximately HK$178 million, down from HK$421 million in 2020, with a net debt position of approximately HK$41 million[97]. Business Operations - The Group fully utilized net proceeds of approximately HK$194 million from a rights issue for repayment of bank borrowings as of March 31, 2021[30]. - The residential development project in Zigong City, Sichuan Province, is expected to further improve the Group's financial position in the coming financial years[27]. - The printing business recorded a revenue drop to approximately HK$195 million in 2021, down from HK$207 million in 2020, resulting in an operating loss of approximately HK$3 million[73]. - The property investment business achieved an operating profit of approximately HK$5 million for the year, a significant improvement from a loss of approximately HK$78 million in 2020[75]. - The Group is focused on expanding its property development business in non-first-tier cities in Mainland China, where demand-side restrictions are less[27]. - The Group continues to seek growth-enhancing investment opportunities across various markets while maintaining effective risk management and internal control systems[32]. Market Outlook - The global economy is showing initial recovery, supported by growing consumption sentiment and inflationary expectations, which positively impacts the property market[26]. - The Group remains cautiously optimistic about the recovery of the global printing and packaging market, implementing risk management and business development strategies to turn risks into growth opportunities[77]. - The Group is exploring expansion options into the financial and asset management services market to capture opportunities arising from potential asset price inflation due to lowering global interest rates[89]. Corporate Governance - The company is committed to achieving a high standard of corporate governance to protect and promote shareholder interests[147]. - The Board has complied with the Corporate Governance Code throughout the year ended March 31, 2021[148]. - The Board is responsible for overseeing business strategies aimed at enhancing shareholder value and regularly reviews financial performance[149]. - The Board composition is well balanced, with each director possessing relevant knowledge and experience[159]. - Regular Board meetings are held at least four times a year, with four meetings conducted during the year under review[165]. - The roles of the Company's Chairman and Chief Executive Officer have been performed by the executive Directors on a collective basis, providing flexibility for effective business decision-making[171]. - The Nomination Committee reviewed the structure, size, composition, and diversity of the Board during the year[175]. - The Company has established a clear Nomination Policy and Board Diversity Policy[174]. - The attendance record of Directors at Board meetings shows high engagement, with most Directors attending 100% of meetings[171]. Risk Management - The Group has assessed and identified key risks in terms of strategic, operational, and financial aspects, with an effective risk management system in place[112]. - Certain financial risks and uncertainties about significant accounting judgments and estimates are detailed in the notes to the consolidated financial statements[112]. Director Profiles - Mr. Lam has over 45 years of experience in engineering[127]. - Mr. Ho has over 20 years of experience in private equity investment and finance[133]. - Ms. Ng has more than 25 years of experience in finance, accounting, and corporate secretarial functions[141]. - Mr. Leung is responsible for financial management and treasury functions of the Group[139]. - Mr. Ho holds an Executive Master of Business Administration degree from Tsinghua University[137]. - Mr. Ho is a Chartered Financial Analyst[137]. Remuneration and Training - The Group's remuneration policy aims to provide fair market remuneration to attract, retain, and motivate high-quality staff[197]. - A remuneration committee has been established to recommend the Company's remuneration policy and structure for all Directors and senior management[199]. - The Company arranged seminars and provided reading materials relevant to Directors' duties and responsibilities during the year[194]. - The training record summary for each Director was documented, ensuring continuous professional development[194]. - The Company adheres to code provision A.6.5 of the CG Code, requiring all Directors to participate in continuous professional development[193].
融太集团(01172) - 2021 - 年度财报