Financial Performance - For the fiscal year ending March 31, 2024, the company's revenue was approximately HKD 595.2 million, a slight decrease of about 1.3% compared to HKD 603.1 million in the previous year[7]. - The loss attributable to the company's owners was approximately HKD 20 million, a decrease of 34.0% from HKD 30.7 million in the previous year, primarily due to reduced administrative expenses of about HKD 12 million[7]. - Revenue from natural gas sales was approximately HKD 558.2 million, remaining relatively stable compared to HKD 562 million in the previous year[12]. - Revenue from the power and data cable business decreased by approximately 10.3% to about HKD 37 million, down from HKD 41.2 million in the previous year, attributed to increased competition and a shift towards multifunctional cables[13]. - The company experienced a decrease in gross profit of approximately HKD 4 million due to competitive pricing pressures[7]. - The company reported an increase in income from the sale of subsidiaries amounting to approximately HKD 8 million, which was not present in the previous year[7]. - The group reported total debt of approximately HKD 66.6 million as of March 31, 2024, compared to HKD 60 million in 2023, indicating an increase of about 10%[21]. - The group's cash and bank balances decreased to approximately HKD 17 million as of March 31, 2024, down from HKD 47.9 million in 2023, representing a decline of about 64%[21]. - The asset-liability ratio increased significantly to approximately 50.7% as of March 31, 2024, compared to 7.5% in 2023[21]. Dividends and Shareholder Returns - The company did not recommend the payment of dividends for the fiscal year[8]. - The group did not recommend any dividend for the fiscal year ending March 31, 2024, consistent with the previous year[19]. - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future development, with no predetermined dividend payout ratio[35]. - As of March 31, 2024, the company had no distributable reserves, consistent with the previous year[39]. Employee and Management Information - The total employee cost for the fiscal year was approximately HKD 24.9 million, an increase from HKD 23.4 million in 2023, reflecting a growth of about 6.4%[18]. - The total number of full-time employees increased to 149 as of March 31, 2024, from 139 in 2023, marking a growth of about 7.2%[18]. - The employee turnover rate is 18% for males and 44% for females, with the highest turnover rate of 68% in the age group of 18 to 30 years[177]. - The company provides a comprehensive benefits package, including mandatory benefits and additional perks such as performance bonuses and educational assistance[178]. - The company emphasizes equal opportunities for all employees, ensuring no discrimination based on gender, nationality, or other factors[180]. - The company has established health and safety management systems and conducts safety training to minimize injury risks and occupational diseases[181]. - Approximately 7% of employees participated in various training programs during the reporting period[184]. - The average training hours per employee was approximately 0.8 hours, with male employees averaging 1.3 hours and female employees averaging 0.2 hours in 2024[184]. - The percentage of trained employees among senior management was 42% in 2024, down from 47% in 2023[184]. Corporate Governance - The board of directors consists of both executive and non-executive members, with service agreements in place for a term of three years[54]. - The company has established a three-year initial term for independent non-executive directors, subject to annual renewal[55]. - The board is responsible for overseeing the overall strategy, policies, and development of the group, ensuring effective risk management and internal controls[103]. - The board has established mechanisms to ensure independent viewpoints and advice are provided to support effective decision-making[106]. - The company has adopted GEM Listing Rules as a code of conduct for securities trading by directors and employees, confirming compliance for the fiscal year[120]. - The board has reviewed the effectiveness of the risk management and internal control systems, concluding that they are effective and adequate for the group's operations[133]. - The company has no internal audit function currently, as it believes it is not necessary given the scale and complexity of its operations[133]. Environmental, Social, and Governance (ESG) Initiatives - The group emphasizes sustainable development and aims to provide stable, long-term returns to shareholders while integrating environmental and social considerations into its business operations[143]. - The group has established clear boundaries for quantifying its ESG performance, covering operations in Hong Kong and China[142]. - The group engages with stakeholders to identify and assess significant environmental and social issues impacting its operations and strategies[148]. - The company aims to reduce its greenhouse gas emissions by 5% by 2027 based on 2022 levels, in line with China's 14th Five-Year Plan for low-carbon development[160]. - The generation of non-hazardous waste increased from 98 tons of plastic in 2023 to 112 tons in 2024, primarily due to changes in product lines requiring different materials[164]. - The company plans to reduce non-hazardous waste by 5% by 2027 based on 2022 levels, implementing the 3R approach of Reduce, Reuse, and Recycle[164]. - The company is committed to reducing electricity consumption by 5% by 2027 based on 2022 levels through various energy-saving measures[167]. - The company has not reported any violations of environmental laws and regulations during the reporting period[157]. Strategic Initiatives and Future Outlook - The company is actively advancing its clean energy trade business, focusing on natural gas supply and demand matching[10]. - The group aims to explore further development opportunities in the energy sector through investments or acquisitions of companies engaged in energy business[17]. - The board is actively pursuing new strategies for growth, including potential mergers and acquisitions in the energy market[73]. - Future guidance indicates a focus on increasing revenue and market share in the energy sector, with specific targets to be outlined in upcoming reports[73]. Risk Management - The company has established a robust risk management and internal control system to safeguard shareholder interests and ensure compliance with relevant regulations[131]. - The risk management system includes tracking identified risks, assessing their potential impact, and developing response procedures[131]. - The company has adopted a bottom-up approach to identify and mitigate risks across all business units[131]. Community Engagement - The group actively engages in community investment, encouraging employee participation in volunteer work, charitable activities, and donations to enhance local community welfare[198].
百能国际能源(08132) - 2024 - 年度财报