Financial Performance - Revenue for the fiscal year 2024 was approximately HKD 239.7 million, a decrease of about 8.7% compared to HKD 262.6 million in 2023[6] - Gross profit increased to HKD 37.5 million, up from HKD 35.9 million in the previous year, reflecting a growth of approximately 4.3%[6] - The company reported a net profit of HKD 8.1 million for the year, slightly down from HKD 8.3 million in 2023, representing a decrease of about 1.8%[6] - The total revenue from renovation projects was approximately HKD 145.6 million, a significant decline of about 42.1% from HKD 251.6 million in the same period last year[22] - The company submitted tenders worth approximately HKD 1,981.5 million during the reporting period, a decrease from HKD 2,187.7 million in 2023[34] - The company has been awarded three projects during the year, with a total contract value of approximately HKD 221.7 million, down from six projects valued at HKD 244.3 million in 2023[34] - The profit attributable to the owners of the company was approximately HKD 8.1 million during the reporting period, compared to approximately HKD 8.3 million for the same period in 2023, mainly due to the absence of government subsidies related to COVID-19[37] Cost Management - Administrative expenses decreased to HKD 26.8 million from HKD 29.6 million, showing a reduction of about 9.5%[6] - The financing costs increased to HKD 2.97 million from HKD 1.93 million, reflecting an increase of approximately 54%[6] - The group's direct costs decreased from approximately HKD 226.7 million for the year ended March 31, 2023, to approximately HKD 202.2 million during the reporting period, a decrease of about 10.8%[59] Asset Management - As of March 31, 2024, the group's net current assets were approximately HKD 43.1 million, compared to approximately HKD 34.9 million as of March 31, 2023[63] - The group had cash and cash equivalents of approximately HKD 14.7 million as of March 31, 2024, compared to approximately HKD 11.2 million as of March 31, 2023[63] - The group has no significant commitments as of March 31, 2024[66] Corporate Governance - The company maintains a high standard of corporate governance, adhering to the GEM Listing Rules Appendix 15, with a focus on accountability and transparency[81] - The board consists of three executive directors and three independent non-executive directors, ensuring a diverse and qualified leadership team[83] - The company encourages shareholder participation in annual general meetings, allowing for proxy representation if shareholders cannot attend[89] - The remuneration committee held one meeting during the reporting period, with all members in attendance[97] - The chairman, Mr. Chan Siu Chung, is responsible for the overall strategy and business development of the group[90] - The company secretary, Ms. Choi Mei Pik, is a member of the Hong Kong Institute of Certified Public Accountants and has undergone relevant professional training[91] - The company has adopted strict procedures for regulating directors' securities transactions, in line with GEM Listing Rules[95] - The board has implemented a diversity policy since January 10, 2017, to promote sustainable and balanced development[84] - The company emphasizes the importance of a high-quality board and effective internal controls for business success and shareholder value enhancement[81] - The board consists of six directors, including three independent non-executive directors, ensuring a reasonable balance and oversight of the company's management[109] - The nomination committee was established in 2017, chaired by the chairman and executive director, with other members being independent non-executive directors[118] - The audit and risk management committee held four meetings during the reporting period, with all members in attendance[124] - The company has no established corporate governance committee, with the board responsible for governance functions and policy reviews[127] - The independent auditor did not express any reservations and confirmed the company's ability to continue as a going concern[126] Risk Management - The company has identified key risks categorized as strategic, operational, and compliance risks[182] - The company aims to enhance its internal control and risk management systems through annual reviews by external independent professionals[165] - An independent internal control review consultant has been appointed to assess the effectiveness of the group's risk management and internal control systems[160] - The group established an enterprise risk management framework in 2017, with the board responsible for maintaining robust internal controls[162] - The board confirmed that it is responsible for ongoing supervision of the company's risk management and internal control systems[180] Environmental and Social Responsibility - The company has not reported any significant violations of environmental laws during the reporting period[171] - The company has implemented measures to control air pollution, noise pollution, and waste management in its daily operations[171] - The company is committed to monitoring and minimizing its environmental impact, with plans to publish an Environmental, Social, and Governance (ESG) report in its annual report[192] Employee Management - The company emphasizes the importance of employee compensation to attract and motivate staff, regularly reviewing compensation packages[169] - As of March 31, 2024, the group employed 45 staff members, a slight decrease from 46 staff members as of March 31, 2023[72] Dividend Policy - The company did not recommend the payment of dividends for the reporting period, consistent with the previous year[167] - The board will continuously review the dividend policy and does not guarantee any specific amount of dividends for any designated period[179] - The board considers various factors, including the group's operational funding needs and capital expenditure requirements, when deciding on dividend distribution[158]
艾硕控股(08341) - 2024 - 年度财报