宏基集团控股(01718) - 2023 - 年度财报

Revenue Performance - The Group recorded a revenue increase of approximately HK$52,230,000 or 19.8$315,447,000 for the year ended 31 March 2023 compared to the previous year[11]. - Revenue from foundation construction contributed approximately 80.9% to the total revenue during the Reporting Period, down from approximately 83.0% in the previous year[21]. - Revenue from ground investigation services increased to approximately 18.3% of total revenue during the Reporting Period, up from approximately 14.7% in the previous year[22]. - Revenue from financial services contributed approximately 0.8% to total revenue, a decrease from approximately 1.2% in the previous year[23]. - The increase in revenue was primarily due to a higher number of sizable projects tendered during the Reporting Period[11]. - Revenue from foundation construction projects increased by approximately HK$36,868,000 or approximately 16.9$255,328,000 for the Reporting Period[35]. - Revenue from ground investigation services increased by approximately HK$18,853,000 or approximately 48.6$57,611,000 for the Reporting Period[36]. Financial Overview - The Group's total revenue increased by approximately HK$52,230,000 or approximately 19.8$263,217,000 for the year ended March 31, 2022, to approximately HK$315,447,000 for the Reporting Period[35]. - The gross profit increased from approximately HK$52,813,000 for the year ended March 31, 2022, to approximately HK$53,789,000 for the Reporting Period, with an overall gross profit margin of approximately 17.1$82,350,000 for the Reporting Period, primarily due to impairment losses on trade receivables[51]. - Other income, net decreased by approximately HK$2,595,000 to approximately HK$16,529,000 for the Reporting Period, mainly due to a significant drop in fair value gains on financial assets[50]. - The revenue from financial services amounted to approximately HK$2,507,000 for the Reporting Period, down from approximately HK$3,190,000 in the previous year[37]. - The Group recorded a net loss of approximately HK$46,996,000 for the Reporting Period, compared to a net loss of approximately HK$12,757,000 for the year ended 31 March 2022[121]. Credit Risk and Impairment - The Group recognized a provision for expected credit losses of approximately HK$25,406,000, with total impairment losses amounting to approximately HK$35,250,000 as of March 31, 2023[74]. - The expected credit loss (ECL) rate for trade receivable and Loan receivable A increased to 52.9%, resulting in provisions of approximately HK$10,386,000 and HK$7,964,000 respectively[92]. - The adverse impact of the COVID-19 pandemic has significantly increased credit risks for both Loan receivable A and Loan receivable B[93]. - The Company has adopted a prudent approach in assessing credit risks due to the economic impact of the pandemic and the past due status of the receivables[92]. - The Company has engaged an independent valuer to conduct impairment assessments over trade receivables and loan receivables as of 31 March 2023[87]. Business Strategy and Future Outlook - The Group plans to leverage its industrial experience and resources to seek cooperation and investment opportunities with high-quality companies in emerging industries[13]. - The Board anticipates a steady recovery in the construction and foundation industry in Hong Kong due to declining COVID-19 cases and increased vaccination rates[12]. - The Group will be prudent in tendering potential projects, with future strategies dependent on the evolution of the pandemic[12]. - The Group plans to seek cooperation and investment opportunities with high-quality companies in emerging industries to diversify and expand its business[31]. Cash Flow and Financing - The net cash generated from operating activities during the Reporting Period was approximately HK$24,359,000, primarily from foundation construction and ground investigation services[144]. - The net cash from investing activities was approximately HK$28,543,000, including approximately HK$21,680,000 from the disposal of interest in an associate[144]. - The net cash used in financing activities was approximately HK$68,345,000, mainly due to the repayment of HK$55,000,000 to a related company and HK$10,000,000 to a director of a subsidiary[144]. - The Group's total interest-bearing borrowings as of March 31, 2023, amounted to approximately HK$188,909,000, a decrease from approximately HK$245,357,000 as of March 31, 2022[137]. Corporate Governance and Compliance - The Group has maintained compliance with relevant laws and regulations in Hong Kong, with no material non-compliance reported during the Reporting Period[197]. - The Group has adhered to all applicable code provisions in the Corporate Governance Code during the Reporting Period[199]. - All Directors have confirmed compliance with the Model Code for Securities Transactions throughout the Reporting Period[200]. Employee and Remuneration - As of March 31, 2023, the Group had 123 full-time employees, down from 124 full-time employees as of March 31, 2022[174]. - The Group's total remuneration cost for the Reporting Period was approximately HK$69,330,000, a decrease from approximately HK$70,015,000 for the year ended March 31, 2022[175]. Environmental and Social Responsibility - The Group was awarded the ISO 14001:2015 certification for environmental management, valid from March 24, 2021, to April 29, 2024[192]. - The Group emphasizes environmental protection and has been certified with ISO 14001:2015, valid from March 24, 2021, to April 29, 2024[195].