Financial Performance - For the fiscal year ending March 31, 2024, the company reported revenue of approximately HKD 671.9 million, an increase of about 25.1% compared to HKD 537.3 million for the fiscal year ending March 31, 2023[179]. - The company's profit attributable to shareholders decreased to approximately HKD 3.7 million for the fiscal year ending March 31, 2024, down from HKD 9.8 million for the previous fiscal year[179]. - The gross profit margin of the company decreased due to intensified market competition leading to lower project profit margins[179]. Employee Management - Total employee costs, including director remuneration, amounted to approximately HKD 191.7 million for the year ending March 31, 2024, up from HKD 170.9 million for the previous year[22]. - The group employed a total of 406 employees as of March 31, 2024, down from 427 employees as of March 31, 2023, primarily due to a reduction in labor-intensive processes[22]. - The overall employee turnover rate for the group is approximately 11%, down from 19% in 2023, indicating improved employee retention[196]. - The male employee turnover rate is 9%, while the female employee turnover rate is 22%, showing a significant disparity in retention rates[196]. - The company maintains a strict recruitment process that does not consider race, gender, religion, age, or disability status, ensuring a non-discriminatory work environment[173]. - The company has established a performance evaluation system to assess employee performance and compensation annually, ensuring equal opportunities for all employees[173]. Corporate Governance - The company maintains high standards of corporate governance, which is essential for protecting and enhancing shareholder and stakeholder interests[60]. - The board has complied with the listing rules regarding the appointment of at least three independent non-executive directors, who provide impartial opinions on the group's strategy and performance[63]. - The company has adopted the corporate governance code as its own governance code and has complied with the relevant provisions during the reporting period[61]. - The audit committee consists of three independent non-executive directors, ensuring compliance with listing rules and corporate governance standards[54]. - The company has received annual independence confirmations from all independent non-executive directors, ensuring their compliance with independence standards[73]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers initiatives and efforts in corporate social responsibility and sustainable development for the year ending March 31, 2024[123]. - The company has implemented an environmental management system certified by ISO 14001:2015 to ensure compliance with environmental laws[142]. - The company has prioritized the use of ultra-low sulfur diesel to improve fuel efficiency and reduce Scope 1 greenhouse gas emissions[146]. - The company has adopted strategies to reduce air pollution and greenhouse gas emissions, including using clean technology in construction equipment[148]. - The company conducts regular assessments to determine the relevance of ESG issues to its business and stakeholders, prioritizing them based on their economic, environmental, and social impacts[139]. Risk Management - The company has established a risk management and internal control system, ensuring sufficient checks and balances within its management structure[66]. - The board is responsible for ensuring the effectiveness of the risk management and internal control systems to protect the group's assets[98]. - The internal control system has been deemed effective and sufficient as of March 31, 2024, following a review by the Audit Committee[100]. - The group has not established an internal audit function as per corporate governance code D.2.5, but has engaged an external consultant for annual reviews of risk management and internal control systems[104]. Future Outlook - The group remains optimistic about the future prospects of the Hong Kong construction industry, driven by government plans for large public infrastructure projects[24]. - The Hong Kong economy is expected to continue growing, driven by government investments in infrastructure and housing, which may create further opportunities in the construction sector[183]. - The total housing supply target for the next decade in Hong Kong is set at 432,000 units, reflecting optimism in the construction industry despite intense competition[180]. - The company aims to enhance project management effectiveness and control costs in response to the changing business environment[180]. Board Diversity and Composition - The board comprises five members, including one female director, indicating ongoing efforts to improve gender representation[48]. - The board has adopted a diversity policy aimed at achieving a balanced and sustainable development, recognizing the benefits of a diverse board[47]. - The company emphasizes the importance of gender diversity and is committed to providing career development opportunities for female employees[47]. - The company appointed Ms. Zhou Wenzhen as an executive director during the reporting period, enhancing board diversity[48]. Capital Investments - The group invested approximately HKD 31.7 million in machinery and equipment for the year ending March 31, 2024, compared to HKD 18.2 million for the year ending March 31, 2023[14]. - The group has no major investments or capital asset plans as of March 31, 2024[21]. - The group has no significant capital commitments or contingent liabilities as of March 31, 2024[17].
荣智控股(06080) - 2024 - 年度财报