Financial Performance - The profit attributable to the owners of the company decreased from approximately HKD 13.1 million for the year ended March 31, 2023, to approximately HKD 10.1 million for the year ending March 31, 2024, a reduction of about HKD 3.0 million[3]. - The financing costs remained relatively stable at approximately HKD 4.0 million for the year ending March 31, 2023, and HKD 4.1 million for the year ending March 31, 2024[2]. - The company reported a low net profit margin, making financial performance highly sensitive to any adverse changes in sales costs, contract prices, and market conditions in the renovation and maintenance industry in Hong Kong[200]. - The company has not guaranteed the maintenance or improvement of its project win rate, as its revenue is derived from non-recurring projects[200]. - The company relies on subcontractors, which poses a risk to its financial performance if subcontractor costs increase or if there are issues with subcontractor performance[200]. Financial Position - As of March 31, 2024, the group's bank borrowings amounted to approximately HKD 96.1 million, an increase from HKD 89.7 million in 2023, while the capital debt ratio remained stable at approximately 63.1% compared to 63.5% in 2023[5]. - The group maintains a strong financial position with sufficient liquidity to meet funding needs, supported by bank balances and cash[5]. - As of March 31, 2024, the company held guarantees of approximately HKD 106.7 million for customer contracts, an increase from approximately HKD 62.6 million in 2023[141]. Investment and Strategy - The group's investment strategy includes investing in Acasa and participating in the redevelopment of the property to expand the customer base[11]. - The group has no significant investments, acquisitions, or disposals of subsidiaries and associates for the year ending March 31, 2024, apart from those disclosed in the annual report[13]. Environmental Impact - The total greenhouse gas emissions decreased from 69 tons in 2023 to 36 tons in 2024, representing a reduction of approximately 48%[112]. - The total amount of non-hazardous waste decreased from 5,573 tons in 2023 to 4,781 tons in 2024, a reduction of about 14%[112]. - The company replaced one gasoline vehicle with an electric vehicle, contributing to reduced emissions and demonstrating commitment to environmental responsibility[98]. - The total amount of construction and demolition waste sent to landfills decreased from 1,366 tons in 2023 to 1,840 tons in 2024, indicating improved waste management practices[112]. - The company’s environmental management system has been certified to ISO 14001 standards, indicating compliance with international environmental management practices[115]. Corporate Governance - The board believes that good corporate governance is essential for effective management and successful business growth[81]. - The independent non-executive directors constitute at least one-third of the board, ensuring compliance with GEM listing rules[68]. - The company has established an audit committee to oversee financial reporting and risk management systems[49]. - The board consists of five members, including two executive directors and three independent non-executive directors[85]. - The company has confirmed that all independent non-executive directors are independent according to GEM listing rules[88]. Risk Management - The board believes that the risk management and internal control systems of the group are effective and adequate as of March 31, 2024[23]. - The company emphasizes the importance of risk management practices to effectively mitigate operational and financial risks[191]. - The company has faced risks related to potential increases in subcontracting costs and the possibility of contract performance guarantees being forfeited[196]. Employee and Workplace Safety - The company has a safety compliance committee to monitor adherence to health and safety regulations[59]. - The company has developed a safety management system certified to ISO 45001 standards, ensuring compliance with legal requirements and continuous improvement[140]. - The company conducted regular safety audits to ensure compliance with safety management regulations, enhancing workplace safety[128]. - Employee turnover rate increased from 24% in 2023 to 31% in 2024, with male turnover rising from 36% to 76%[117]. - The average training hours completed per full-time employee in project management for men was 15.2 hours in 2024, compared to 5.6 hours in 2023[144]. Diversity and Inclusion - The company has a policy to ensure equal employment opportunities and prohibits discrimination based on gender, religion, race, disability, or age[71]. - The board aims to have at least one female director by the end of 2024, currently consisting only of male directors[67]. - The company maintains a diversity policy for board members, considering various measurable factors such as gender, age, and professional experience[65]. - The nomination committee reviews the board's composition annually to ensure diversity and effectiveness[66]. Community Engagement - The group actively participates in community investment through charitable donations and support for education and environmental protection activities[165].
CHI HO DEV(08423) - 2024 - 年度业绩