Employee Development and Training - The company emphasizes the importance of continuous education for employees, providing tuition assistance and flexible working hours to support their learning[1] - The employee training rate is calculated based on the number of trained employees divided by the total number of employees as of March 31, 2024[2] - All employees and directors have undergone anti-corruption training, enhancing awareness of anti-corruption measures[17] Compliance and Ethical Standards - The company has not been aware of any serious violations regarding child labor or forced labor laws during the reporting period[4] - The company strictly adheres to guidelines for handling customer personal data and has not received any major complaints regarding privacy violations[12] - The company has established measures to prevent child and forced labor, ensuring compliance with relevant laws[54] - The company has implemented anti-corruption measures and training for directors and employees[57] Supplier and Environmental Responsibility - The company prioritizes local suppliers and environmentally friendly products to reduce carbon footprint and support local economic development[7] - The company has established procedures to ensure fair competition among suppliers and subcontractors, preventing any bias or discrimination[5] - The group’s environmental policy and performance are discussed in the environmental, social, and governance report section of the annual report[64] Product and Customer Safety - There have been no significant complaints regarding product safety or health issues during the reporting period[10] - The company has a policy for product responsibility, including quality assurance and consumer data protection[55] - The company maintains high-quality standards in its services, closely monitoring performance and welcoming customer feedback for improvement[8] Financial Performance and Shareholder Information - The financial performance for the year ending March 31, 2024, is detailed in the consolidated income statement and other comprehensive income section of the annual report[65] - The largest shareholder, Foxfire, holds 398,500,000 shares, representing 66.42% of the total shareholding[50] - The reserves available for distribution to shareholders, calculated under the Cayman Islands Companies Law, were approximately HKD 65,438,000 as of March 31, 2024[98] Revenue and Customer Contributions - The group reported that the top five customers accounted for approximately 59.9% of total revenue, with the largest customer contributing about 29.4%[70] - The company’s largest customer’s contribution to total revenue increased from 22.3% in 2023 to 29.4% in 2024[70] Stock Options and Compensation - The company adopted a share option plan on September 22, 2017, aimed at rewarding qualified individuals for their contributions[41] - No share options have been granted, exercised, expired, or lapsed since the adoption of the share option plan[42] - As of March 31, 2024, the total number of stock options available for grant under the stock option plan was 60,000,000, representing about 10% of the issued ordinary shares at the time of listing[69] - The company has established a compensation committee to review the overall compensation policy and structure related to all directors and senior management[79] Financial Assets and Liabilities - Financial assets and liabilities are initially measured at fair value, with direct transaction costs included or deducted based on circumstances[122] - The group assesses expected credit losses for financial assets, including trade receivables and contract assets, based on historical experience and current economic conditions[127] - The group uses a provision matrix to assess expected credit losses for trade receivables and contract assets[127] Lease and Asset Management - Lease liabilities are presented as a separate item in the consolidated financial position statement[133] - The company reviews the carrying amounts of property, plant, and equipment, as well as right-of-use assets, at the end of the reporting period to identify any impairment losses[138] - The company measures right-of-use assets at cost less any accumulated depreciation and impairment losses, adjusting for any re-measurement of lease liabilities[199] Revenue Recognition - The company recognizes revenue when control of goods or services is transferred to customers, with specific criteria for recognizing revenue over time[162] - The company recognizes contract liabilities when it receives consideration from customers for goods or services to be transferred[160] - The company recognizes contract assets as rights to consideration for goods or services transferred to customers, which are conditional and subject to impairment assessment under HKFRS 9[184]
莹岚集团(01162) - 2024 - 年度财报