Financial Performance - The group's revenue decreased by approximately 8.3% from about HKD 111.3 million for the year ended March 31, 2023, to about HKD 102.1 million for the year ended March 31, 2024[15]. - Gross profit increased by approximately HKD 1.9 million or 9.9% from about HKD 19.1 million to about HKD 21.0 million, with the gross profit margin rising from approximately 17.2% to 20.6%[15]. - The loss attributable to the owners of the company decreased from approximately HKD 17.9 million to about HKD 12.1 million, primarily due to a recognized investment income from a life insurance policy of about HKD 0.1 million[15]. - The impairment loss on property, plant, and equipment decreased from approximately HKD 4.2 million to about HKD 0.6 million[15]. - The net loss for the year ended March 31, 2024, was approximately HKD 12.1 million, a reduction from a net loss of about HKD 17.9 million in the previous year[19]. - Direct costs decreased by about 12.0% to approximately HKD 81.1 million, down from HKD 92.1 million in the previous year, primarily due to effective cost control measures[24]. - Other income and gains decreased from approximately HKD 3.2 million to about HKD 1.7 million, mainly due to the absence of non-recurring government subsidies[27]. - Financing costs increased by approximately 64.3% to about HKD 414,000, attributed to higher interest on bank borrowings and lease liabilities[31]. Business Strategy and Outlook - The company remains optimistic about the prospects of the local interior design and renovation services despite facing challenges from the financial market and economic downturn[16]. - The company plans to enhance brand marketing through mainstream and new media to attract new customers and strengthen its position in the industry[16]. - The company aims to achieve sustainable business growth by recruiting talented individuals, providing training, and improving management skills to enhance customer experience and satisfaction[16]. - The company anticipates a challenging year ahead due to uncertainties in the Hong Kong property market, influenced by tightening monetary policies from major central banks[20]. - The board expects long-term demand for the group's services to increase as public affordability for housing improves, leading to a strategy to enhance brand awareness in the renovation and interior design market[20]. - The group plans to continue expanding its business coverage in Hong Kong to reach more potential customers[20]. Financial Position - As of March 31, 2024, the total debt of the group was approximately HKD 7.4 million, down from HKD 9.6 million in 2023[45]. - The group's cash and bank balances were approximately HKD 24.3 million as of March 31, 2024, compared to HKD 34.5 million in 2023[45]. - The asset-liability ratio increased to approximately 86.0% as of March 31, 2024, from 46.4% in 2023, primarily due to a decrease in total equity[46]. Employee and Workforce Management - The total employee cost, including directors' remuneration and mandatory provident fund contributions, was approximately HKD 17.6 million, a slight decrease from HKD 18.0 million in 2023[56]. - The group has 26 employees in Hong Kong as of March 31, 2024, down from 38 employees in 2023[56]. - The overall employee turnover rate increased to approximately 37.50% in 2024, up from 23.68% in 2023, with male turnover rising significantly to 52.63%[126]. - Approximately 68.42% of employees received training during the reporting period, an increase from 59.57% in the previous year[138]. - The average training hours per employee increased to 26.84 hours, up from 23.83 hours in the previous year[138]. - The company is committed to maintaining a competitive compensation system to attract and retain talent, with regular performance reviews influencing salary adjustments[126]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a comprehensive governance framework for environmental, social, and governance (ESG) matters, with the board responsible for overseeing ESG strategies and reporting[78]. - The company received the "2023 ESG Special Recognition Award" from TVB, highlighting its commitment to integrating sustainable design principles into operations and services[79]. - The group has implemented environmental protection measures, including wastewater management and energy consumption control, and has complied with applicable environmental laws and regulations[62]. - The company is committed to reducing its carbon footprint and improving environmental performance through various green initiatives[86]. - The company has established an environmental management system certified by ISO 14001:2015 to support sustainable development[115]. - The company has implemented a health and safety management system based on ISO 45001:2018 to ensure a safe working environment[132]. Community Engagement and Charitable Contributions - The group donated approximately HKD 1,004,000 to various non-profit organizations during the reporting period, compared to HKD 1,066,000 in 2023, indicating a slight decrease in charitable contributions[159]. - The number of volunteers in the community service team is 20, providing free maintenance services to vulnerable groups[159]. - The group aims to expand its charitable efforts in the future to better meet community needs and create a more favorable environment for its business[159]. Customer Engagement and Feedback - The group emphasizes the importance of customer feedback and has established a customer service department to address inquiries and complaints effectively[150]. - The group has implemented a communication platform to gather customer inquiries and feedback, enhancing customer engagement[151]. - The group prioritizes the protection of confidential information and customer privacy, adhering to strict policies[152].
礼建德集团(08455) - 2024 - 年度业绩