胜龙国际(01182) - 2022 - 年度财报

Business Operations - The Group's core business is gold-laden carbon processing, with an annual processing capacity of 990 tonnes in Yunnan, China[11]. - A new processing plant with a designed annual capacity of 600,000 tonnes is planned in Luanchuan County, Henan Province, which is expected to generate significant revenue[11]. - The Group aims to diversify revenue channels by trading in gold and other precious metals to achieve sustainable growth[11]. - The Group's production line in Yunnan province, PRC, focuses on extracting gold and other precious metals from gold-laden carbon, enhancing its procurement and revenue channels[30]. - The Group commenced trading of gold and other precious metals, contributing approximately 4.8% or approximately HK$6.9 million to the total revenue of the gold-laden carbon processing and trading segment[32]. - The business model for the New Plant involves processing gold ore into gold powder, which will be sold to gold smelters[99][105]. - The Group's principal activities include processing gold-laden carbon, selling gold and other precious metals, outsourced business process management, and money lending during the financial year[184][189]. Financial Performance - The Group recorded revenue of approximately HK$182.0 million for FY2022, representing a slight increase of approximately 3.9% from HK$175.2 million in FY2021[38]. - Revenue from the gold-laden carbon processing and trading business was approximately HK$144.1 million, contributing approximately 79.2% of the Group's total revenue, an increase of approximately HK$9.0 million or 6.6$31.5 million due to the adverse impact of the COVID-19 pandemic on the Macau gaming industry[21]. - The money lending business generated revenue of approximately HK$6.4 million, slightly down from HK$6.5 million in FY2021, with a profit of approximately HK$3.5 million[22]. - The Group's gross profit increased by approximately HK$15.8 million, or 79.7%, from approximately HK$19.9 million for FY2021 to approximately HK$35.7 million for the Year, resulting in a gross profit margin of approximately 19.6% compared to 11.3% in FY2021[40][46]. - Total revenue for the Year was approximately HK$182.0 million, a slight increase of about 3.9$175.2 million in FY2021[44]. - The loss from the outsourced business process management segment decreased from approximately HK$9.4 million in FY2021 to approximately HK$5.6 million in FY2022, attributed to tight cost control measures[21]. Cost Management - The cost of sales decreased by approximately HK$9.0 million or approximately 5.8$155.3 million in FY2021 to approximately HK$146.3 million in FY2022[39]. - Selling and distribution costs decreased by approximately HK$0.6 million or 28.5% from approximately HK$2.1 million for FY2021 to approximately HK$1.5 million during the Year[42][48]. - Administrative and other operating expenses increased by approximately HK$2.4 million or 9.1$25.9 million for FY2021 to approximately HK$28.3 million for the Year[51][59]. - The Group plans to closely monitor and review its management and cost structure to achieve cost reduction and efficiency improvements as part of its long-term strategy[18]. Strategic Partnerships and Expansion - The Group plans to form strategic partnerships with major players in the region to leverage its business networks and expand market presence[11]. - A framework agreement was established with Jinxing Mining for a new processing plant with an annual capacity of 600,000 tonnes, located in Henan Province, which is rich in gold resources[93][95]. - The total capital expenditure for the New Plant is expected to be approximately RMB133.8 million (around HK$163.2 million), financed through various means including bank loans and internal resources[106]. - The construction of the New Plant is anticipated to be completed by September 2023[106]. Risk Management - The Group's management regularly identifies and assesses key operational risks to implement appropriate risk responses[128][132]. - Financial risks include liquidity risk, foreign exchange rate risk, and credit risk, with measures in place to monitor and mitigate these risks[133][134]. - The company has implemented measures to monitor cash flow and maintain sufficient cash and cash equivalents to mitigate liquidity risk[138]. - The management team is closely monitoring foreign exchange risks and will consider hedging significant exposures when necessary[139]. - A dedicated team has been assigned to manage credit risk, including setting credit limits and monitoring overdue debts[139]. Corporate Governance and Leadership - Liu Shiwei was appointed as the executive director and chairman of the board on July 13, 2022, holding 65.9% of the entire issued share capital of the company[147][148]. - Wang Baozhi was appointed as the executive director and chief executive officer on July 13, 2022, bringing over 23 years of finance experience to the company[150][151]. - Ding Lei was re-designated from chairman and chief executive officer to chief operating officer on July 13, 2022[156][157]. - The company has undergone changes in its board composition, reflecting a strategic shift in leadership roles[144][146]. - The company is focused on expanding its market presence and enhancing operational efficiency through strategic leadership changes[160]. - The board includes members with significant experience in corporate governance and compliance, ensuring adherence to regulatory standards[171]. Shareholder Returns and Dividends - The Group did not recommend any dividend for the year ended March 31, 2022, consistent with the previous year where no dividend was paid[185][191]. - The Company currently has no pre-determined dividend payout ratio and considers various financial factors before recommending any dividends[186]. - As of March 31, 2022, and 2021, there are no reserves available for distribution by the Company[197]. - The Company has a comprehensive approach to evaluating dividend payments, considering internal and external factors impacting financial performance[186]. Compliance and Sustainability - The Group is committed to environmental sustainability and encourages environmental protection awareness among employees[125][129]. - The Group has complied with relevant laws and regulations that significantly impact its business operations during FY2022[117][121]. - The company collaborates with external professionals to ensure compliance with applicable laws and regulations[140].