Business Strategy and Market Expansion - The Group is focused on diversifying and creating new sales channels while enhancing operational efficiency through optimized processes[17]. - The Group aims to expand its customer base and supply channels, targeting both existing and emerging markets[17]. - The Group is actively exploring additional business opportunities, including selling other liquor products and providing related promotion and marketing services[17]. - The Group's strategy includes ongoing development of its wine and alcoholic beverage operations to strengthen its leading position in Hong Kong's wine industry[17]. - The Group is committed to driving further market expansion globally[17]. - Future strategies include expanding the customer base and supply channels, diversifying the business, and capitalizing on opportunities in existing and emerging markets[29]. - The Group aims to strengthen its leadership position in the Hong Kong wine industry and expand into global markets[29]. - The company is focusing on expanding its market presence and enhancing its product offerings through new strategies and technologies[105]. - The company is exploring potential mergers and acquisitions to enhance its market position and expand its product portfolio[105]. - The company plans to establish distribution points in the Guangdong-Hong Kong-Macao Greater Bay Area over the next few years[120]. - The company envisions diversifying and expanding its business over the next decade[120]. Financial Performance - The Group's revenue increased by approximately 46.6% from approximately HK$147.7 million for the year ended March 31, 2023, to approximately HK$216.6 million for the year ended March 31, 2024[26]. - Profit for the year amounted to approximately HK$31.2 million, representing an increase of approximately 90.7% from approximately HK$16.3 million in the previous year[26]. - The increase in revenue was primarily driven by improved demand for wine products, while profit growth was supported by reduced selling and distribution expenses and administrative expenses due to cost reduction measures[26]. - The Group's gross profit increased by approximately 28.5% from approximately HK$59.7 million for the year ended March 31, 2023, to approximately HK$76.8 million for the Year, with a gross profit margin of approximately 35.4%[66]. - The increase in profit was mainly due to higher revenue, decreased selling and distribution expenses, and administrative expenses, partially offset by increased finance costs[82]. - The Group's current ratio improved from approximately 1.7 as at March 31, 2023, to approximately 1.9 as at March 31, 2024, due to increased inventories and trade receivables[66]. - The gearing ratio decreased from approximately 54.9% as at March 31, 2023, to approximately 45.6% as at March 31, 2024, indicating improved financial stability[66]. - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[131]. - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[131]. Cost Management and Operational Efficiency - The Group's operational efficiency is being enhanced through process optimization and the creation of new sales channels[29]. - Selling and distribution expenses decreased from approximately HK$12.4 million for the year ended March 31, 2023, to approximately HK$10.9 million for the Year, attributed to cost reduction measures[66]. - Administrative expenses decreased from approximately HK$21.7 million for the year ended March 31, 2023, to approximately HK$16.4 million for the Year, mainly due to reduced depreciation and cost efficiency measures[67]. - The Group aims to optimise operational cost efficiency as part of its strategy for sustainable long-term performance[49]. - The company has implemented new technology solutions aimed at improving operational efficiency, projected to reduce costs by 5% annually[131]. Corporate Governance and Compliance - The company is committed to corporate governance and internal control to ensure operational efficiency[106]. - The company has adhered to all provisions of the corporate governance code during the year, except for specific deviations explained in the corporate governance report[121]. - The Board has reviewed the Shareholders' Communication Policy and confirmed its appropriateness and effective implementation for the Year[150]. - The Company recognizes the importance of timely disclosure of corporate information to enable shareholders to make informed investment decisions[150]. - The Board encourages shareholders to attend general meetings to raise concerns directly with management[150]. - The Company provides shareholders with contact details for inquiries, including a telephone hotline and email address[150]. Environmental, Social, and Governance (ESG) Initiatives - The Group actively responds to environmental policies such as carbon neutrality, energy conservation, and waste reduction[158]. - The Board is responsible for the Group's ESG strategies, management approach, and reporting, ensuring effective ESG risk management[159]. - The Group has set targets for material ESG issues, including greenhouse gas emissions, waste management, energy consumption, and water consumption[158]. - The Group's environmental policy aims to manage its environmental footprint across its operating markets, with no material non-compliance reported regarding air and GHG emissions[172]. - The Group is committed to minimizing adverse environmental impacts by improving existing policies and incorporating green practices in daily operations[172]. - The Group has set a goal to conduct two recycling activities annually starting from the year ending 31 March 2023 to raise employee awareness on waste reduction[177]. - The gender ratio in the workforce, including senior management, is 50% female and 50% male, reflecting adherence to gender equality principles[196]. - The Group has been awarded the Caring Company Logo for the seventh consecutive year, recognizing its contributions to community services and donations[166]. Employee and Management Information - Total employee benefit expenses amounted to approximately HK$12.2 million and HK$10.4 million for the years ended March 31, 2023, and 2024, respectively[100]. - The Group's total number of employees decreased from 30 to 24 between March 31, 2023, and 2024[100]. - The remuneration package for employees is assessed annually to ensure competitiveness[100]. - The management team is focused on executing board policies and strategies to achieve the group's strategic objectives[138]. - The company has a strong leadership team with extensive experience in the wine industry and financial management[115].
威扬酒业控股(08509) - 2024 - 年度财报