Financial Performance - Revenue for the year increased by 37.0% to approximately HKD 1,023,900,000[9] - Profit attributable to owners of the company significantly increased to HKD 90,500,000, representing a growth of 31.9%[9] - For the fiscal year ending March 31, 2024, the company recorded a revenue of approximately HKD 1,023,946,000, representing a growth of 37.0% compared to the fiscal year 2023[33] - The net profit attributable to the company's owners increased by approximately HKD 21,891,000 or 31.9%, reaching HKD 90,458,000 for the fiscal year ending March 31, 2024[27] - Adjusted for the impact of the Hong Kong government's anti-epidemic subsidies received in fiscal year 2023, the net profit increased by approximately HKD 38,502,000 or 74.1%[28] - The cost of materials and supplies amounted to HKD 275,938,000, accounting for 26.9% of revenue, a decrease from 28.7% in the previous year[24] - Employee costs rose to HKD 306,705,000, representing 30.0% of revenue, slightly down from 30.2% in the previous year[24] - Other expenses, including advertising and maintenance, totaled HKD 50,831,000, an increase of approximately 22.2%, but decreased as a percentage of revenue from 5.6% to 5.0%[36] Dividends - Proposed final cash dividend of HKD 0.074 per share, compared to HKD 0.052 for the previous year[6] - The dividend payout ratio for the fiscal year is estimated at 54.0%, with a total dividend amount of HKD 28,024,000[50] - The company reported a final cash dividend of HKD 0.074 per share for the year ended March 31, 2024, compared to HKD 0.052 per share for the previous year[93] - The interim dividend paid for the six months ended September 30, 2023, was HKD 0.055 per share, up from HKD 0.048 per share for the same period in 2022[93] - The company plans to pay the final dividend on or around August 23, 2024, subject to shareholder approval at the annual general meeting[93] Assets and Liabilities - Total assets reached HKD 835,154,000 as of March 31, 2024, up from HKD 688,549,000 the previous year[16] - Net asset value increased to HKD 239,344,000 from HKD 189,957,000 year-on-year[16] - The company has no significant contingent liabilities as of March 31, 2024[29] - The company's distributable reserves as of March 31, 2024, amounted to HKD 57,636,000, an increase from HKD 45,297,000 in 2023[95] Expansion Plans - The company plans to continue expanding its restaurant network and enhancing customer experience[21] - The company plans to continue exploring new potential locations in Hong Kong and mainland China for expansion[38] Corporate Governance - The company has appointed independent non-executive directors to enhance governance and compliance[70] - The independent non-executive directors have signed appointment letters effective from January 17, 2024, for a term of three years[100] - The company is committed to compliance with relevant laws and regulations, as discussed in the corporate governance report[86] - The board of directors consists of six members, including non-executive directors, with a focus on maintaining high ethical standards[147] - The company has complied with the corporate governance code as stipulated in the GEM listing rules for the fiscal year ending March 31, 2024[150] - The company has adopted a corporate governance code as its own corporate governance practices, ensuring compliance with the latest developments in corporate governance systems[131] Management and Employees - The company has a strong management team with over 31 years of experience in accounting, finance, and corporate secretarial fields[69] - The company has a dedicated human resources team with experience in international restaurant operations and management[74] - As of March 31, 2024, the group had a total of 1,467 employees, with 1,318 located in Hong Kong[141] - The company emphasizes the importance of internal control systems and risk management, with the board playing a crucial role in oversight[159] - The company is committed to maintaining gender diversity among its employees and will continue to promote diversity through training programs and fair hiring practices[186] Stock Options - The company has granted stock options totaling 1,000,000 shares with an exercise price of 0.90, set to expire on December 15, 2031[68] - As of March 31, 2024, the total number of stock options exercised was 5,440,000, reflecting a decrease of 220,000 from the previous period[68] - The company has a total of 6,110,000 stock options outstanding, with an average exercise price of 1.42[68] - The total number of stock options that can be granted under the stock option plan is 40,000,000 shares, accounting for about 10.6% of the company's issued share capital[129] - The exercise price for stock options is determined based on the higher of the average closing price of the shares on the Stock Exchange for the five trading days immediately preceding the grant date, the closing price on the grant date, or the par value of the shares[119] Board Committees - The company has established various board committees, including a remuneration committee, audit committee, nomination committee, and compliance committee, to enhance board functionality and expertise[189] - The remuneration committee consists of one executive director and three independent non-executive directors, with the chairman being Mr. Zeng Shaochun[189] - The audit committee was established in December 2017 and includes independent non-executive directors, with Mr. Wang Zhanmang as the chairman[191] - The Nomination Committee was established in December 2017, with its written terms of reference adopted by the Board and compliant with the revised GEM Listing Rules effective from January 1, 2019[200] Risk Management - The company’s financial risk management objectives and policies are outlined in the consolidated financial statements[78] - The board has a policy to ensure that the roles of the chairman and the CEO are separated to maintain a balance of power[181] - The company has established a clear organizational structure to assist directors in fulfilling their responsibilities[183]
尝高美集团(08371) - 2024 - 年度业绩