Financial Performance - The group recorded total revenue of approximately HKD 90,990,000 for the fiscal year ending March 31, 2023, representing an increase of approximately 89.80% compared to HKD 47,940,000 in the previous year[15]. - The logistics services segment achieved revenue of approximately HKD 73,770,000, up from HKD 37,770,000 in the previous year, indicating significant growth in this area[12]. - The group reported a net loss attributable to owners of approximately HKD 1,030,000 for the fiscal year, a reduction from a net loss of approximately HKD 4,970,000 in the previous year, primarily due to strong growth in logistics services[15]. - The group recorded revenue of approximately HKD 73,770,000 for the year ended March 31, 2023, compared to HKD 37,770,000 in 2022, representing an increase of 95.5%[23]. - The group’s IP automation and entertainment business generated revenue of approximately HKD 17,220,000 for the year ended March 31, 2023, up approximately 69.32% from HKD 10,170,000 in 2022[26]. - The net loss for the year was HKD 1,026,000, a significant improvement from a net loss of HKD 4,972,000 in the previous year, indicating a reduction in losses by approximately 79.4%[179]. - The company's total equity as of March 31, 2023, was HKD 19,278,000, down from HKD 20,579,000 the previous year, reflecting ongoing losses impacting shareholder equity[190]. Operational Developments - The "Sooper Yoo" integrated entertainment park commenced operations in the third quarter of 2022, contributing to the group's revenue growth[10]. - The group diversified its logistics services to include land transportation between Russia and China, as well as local logistics services in Hong Kong[12]. - The group temporarily suspended its dry bulk shipping and logistics services due to market uncertainties and competition but has since successfully resumed logistics services[11]. - The group is actively seeking opportunities to design, build, and operate themed amusement areas in shopping centers and cultural parks in China[25]. - The group has established agreements to operate two additional entertainment and sports experience amusement parks in Huizhou and Baoan, China, starting in the fiscal year 2023/24[25]. - The group faced challenges in expanding its dry bulk shipping-related logistics services due to the sudden passing of its executive director and CEO, which impacted its business development efforts[22]. Financial Position - As of March 31, 2023, the company reported net current assets of approximately HKD 18,710,000, with cash and bank balances of approximately HKD 29,030,000, compared to HKD 19,100,000 and HKD 28,430,000 in 2022, respectively[31]. - The current ratio as of March 31, 2023, was approximately 1.88, up from 1.62 in 2022, while the debt-to-equity ratio improved to 11.04% from 17.79%[31]. - The company had no bank financing as of March 31, 2023, and received a total of approximately HKD 1,004,000 in unsecured, interest-free advances from shareholders, down from approximately HKD 1,939,000 in the previous year[112]. - Cash and cash equivalents increased to HKD 29,030,000 from HKD 28,431,000, showing a slight increase of 2.1%[182]. - The company reported a reversal of expected credit losses amounting to HKD 657,000, compared to a provision of HKD 922,000 in the previous year[179]. Governance and Compliance - The board of directors did not recommend any dividend for the fiscal year ending March 31, 2023, consistent with the previous year[32]. - The company has established a nomination committee to ensure a diverse board composition, considering skills, experience, and other relevant factors[64]. - All independent non-executive directors confirmed their independence according to GEM Listing Rules, ensuring compliance with governance standards[68]. - The company adopted a code of conduct for securities trading by directors, adhering to GEM Listing Rules[70]. - The company emphasizes the importance of effective communication with shareholders, utilizing various channels including annual and special general meetings, and reports[86]. - The company has implemented various measures to reduce its carbon footprint, including double-sided printing as the default setting for most network printers[99]. Shareholder Information - As of March 31, 2023, the company's major shareholders include Mr. Chen Yufeng with 251,462,500 shares (9.62%) and Mr. Lin Jinhong with 163,900,000 shares (6.27%) [135]. - The largest supplier accounted for 38.2% of the group's procurement, while the top five suppliers represented 76.5%[109]. - The largest customer contributed 80.3% of sales, and the top five customers accounted for 98.7% of total sales during the fiscal year[113]. - The company has confirmed that it maintains sufficient public float as required by GEM listing rules as of the report date [138]. Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements present a true and fair view of the group's financial position as of March 31, 2023[161]. - The audit committee is responsible for reviewing the financial reporting process, risk management, and internal control systems[81]. - The company is responsible for preparing the consolidated financial statements in accordance with the Hong Kong Financial Reporting Standards[170]. - The independent auditor has focused on the expected credit loss assessment for trade receivables as a key audit matter due to significant management judgment involved[165]. Future Outlook - The company plans to expand its logistics services and has reached an agreement with a major logistics supply chain company in Heilongjiang, China, to ensure logistics services between Russia and China[45]. - The company intends to open two additional entertainment and sports experience playgrounds in Huizhou and Baoan, China, starting in the fiscal year 2023/2024[45].
宏海控股集团(08020) - 2023 - 年度财报