Financial Performance - CBK Holdings Limited reported a total revenue of $118 million for the fiscal year, reflecting a growth of 10.6% compared to the previous year[1]. - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management and pricing strategies[7]. - Operating expenses were reduced by 5%, contributing to an overall increase in net profit margin[8]. - For the year ended March 31, 2024, the Group reported revenue of HK$25,365,000, a decrease of 15% from HK$30,040,000 in 2023[34]. - The loss for the year was HK$19,393,000, compared to a loss of HK$24,975,000 in the previous year, indicating an improvement in financial performance[34]. - The loss attributable to owners of the Company was HK$24,595,000, up from HK$22,227,000 in 2023[34]. - Revenue for the year ended March 31, 2024, decreased by approximately HK$4.6 million to approximately HK$25.4 million, compared to approximately HK$30.0 million in 2023[46]. - Gross profit decreased by approximately HK$3.1 million to approximately HK$14.0 million, resulting in a gross profit margin decrease of approximately 1.5% to 55.3%[52][53]. Strategic Outlook - The management provided a positive outlook for the upcoming year, projecting a revenue growth of 15% driven by new product launches and market expansion strategies[3]. - Investment in research and development for new technologies is expected to increase by 20% in the next fiscal year, aiming to enhance product offerings[4]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[5]. - CBK Holdings Limited is considering strategic acquisitions to bolster its competitive position, with a budget allocation of $50 million for potential mergers and acquisitions[6]. - The company aims to launch three new products in the next quarter, which are expected to contribute an additional $10 million in revenue[9]. Corporate Governance - The company is focused on enhancing its corporate governance through experienced management and compliance committees[101][106][118]. - The Company has maintained compliance with the GEM Listing Rules regarding the appointment of at least three independent non-executive directors (INEDs) until the resignation of Mr. Zhang Yuhao on July 10, 2024, which left only two INEDs, leading to non-compliance[137]. - The Board has established a Board Diversity Policy, recognizing the importance of diversity in maintaining competitive advantage, and has achieved its measurable objectives for the year ended March 31, 2024[145]. - The Company has received annual confirmations of independence from all INEDs, ensuring compliance with Rule 5.09 of the GEM Listing Rules, and considers all INEDs to be independent[139]. - The Board's primary responsibilities include overseeing management, formulating long-term corporate strategy, and evaluating Group performance against targets[129]. Management and Leadership - Mr. Chow Yik retired as Chairman on May 3, 2024, and resumed the position on July 10, 2024, continuing as an executive director and chairman of the legal compliance and nomination committees[101]. - Mr. Tsui Wing Tak has over 27 years of experience in corporate finance and accounting, enhancing the company's financial oversight[106]. - Ms. Lau Man Kei has over 11 years of accounting and audit experience, previously serving as assistant financial controller at Kirin Group Holdings Limited[112]. - Mr. Chan Lap Ping has over 20 years of experience in restaurant operations, responsible for day-to-day management of the company's restaurants[114]. - The company secretary is responsible for maintaining minutes of all board and committee meetings, ensuring transparency and accountability[156]. Operational Challenges - The Group faced challenges due to weak consumer spending in Hong Kong despite an increase in tourist numbers post-border reopening[25]. - The management has implemented cost-saving measures, including negotiating rent concessions with landlords[38]. - The Group recorded an impairment loss of approximately HK$2.2 million for property, plant, and equipment, and approximately HK$0.8 million for right-of-use assets[66]. Compliance and Risk Management - The legal compliance committee consists of three members: Mr. Chow Yik (Chairman), Mr. Tian Wuchun, and Ms. Lau Man Kei[191]. - The committee's primary responsibilities include assessing the adequacy of resources and training programs related to regulatory compliance functions[197]. - The committee is responsible for handling any actual or suspected non-compliance matters reported by employees[197]. - The Group's compliance policies are reviewed against applicable laws and regulations during the committee meetings[196].
汉诺佳池(08428) - 2024 - 年度财报