Employee and Workforce - The total number of employees increased to 412 as of March 31, 2024, compared to 356 employees as of March 31, 2023, reflecting a growth of approximately 15.7%[11] - The total employee cost for the year ended March 31, 2024, was approximately HKD 214.4 million, up from approximately HKD 180.5 million for the year ended March 31, 2023, indicating an increase of about 18.7%[11] - The company has implemented a share option scheme to attract and retain qualified personnel and incentivize performance[51] - The share award plan was conditionally adopted on November 22, 2021, to recognize employee contributions and attract suitable talent for further development[62] - The total number of unvested shares under the share award plan as of March 31, 2024, is 1,946,000[67] - The group maintains good relationships with employees, customers, suppliers, and subcontractors, with no significant disputes reported as of March 31, 2024[173] - The group has implemented policies to ensure competitive compensation and benefits for employees, contributing to operational success[173] Financial Performance - For the fiscal year ending March 31, 2024, the group recorded total revenue of approximately HKD 1,366.9 million, an increase of about 42.9% compared to HKD 956.5 million for the fiscal year ending March 31, 2023[56] - The group's gross profit increased by approximately 13.3% to about HKD 81.1 million, compared to approximately HKD 71.6 million for the previous fiscal year[56] - The group recorded a net profit of approximately HKD 26.1 million, a decrease of about 20.4% from HKD 32.8 million for the fiscal year ending March 31, 2023[56] - The company's profit for the year decreased by approximately HKD 6.7 million or 20.4% to about HKD 26.1 million for the year ending March 31, 2024, compared to approximately HKD 32.8 million for the year ending March 31, 2023[114] - The net profit margin for the years ending March 31, 2024, and March 31, 2023, was approximately 1.9% and 3.4%, respectively[114] Dividend Policy - The board of directors did not recommend any final dividend for the year ended March 31, 2024, consistent with the previous year[10] - The company has adopted a general dividend policy, which considers various factors including actual and expected financial performance and operational funding requirements[24] - The board considers the overall business conditions and strategies when making decisions regarding dividend payments and financial performance[27] - The company has the discretion to review and amend its dividend policy at any time, and there is no legal obligation to pay dividends at any specific amount[35] - The board does not recommend the payment of any final dividend for the fiscal year ending March 31, 2024, consistent with no final dividend declared for the previous year[37] Business Operations - The company operates in a single business segment, providing construction engineering services, with no geographical segment information presented as of March 31, 2024[8] - The company continues to focus on civil engineering projects, which include road and drainage works as well as site formation works, with no significant changes in business nature during the year[23] - The largest customer accounted for approximately 39.0% of total revenue for the year ended March 31, 2024, compared to 35.9% for the previous year[81] - The group has not made any significant investments or acquisitions in subsidiaries, associates, or joint ventures as of March 31, 2024[158] - The group continues to maintain a strong and prudent cash management policy to seize future growth opportunities[160] Risk Management and Compliance - The board is aware of several risks and uncertainties that may affect the company's operations, although specific risks were not detailed in the report[12] - The company has complied with relevant laws and regulations, with no significant violations reported for the year ending March 31, 2024[147] - The independent auditor for the financial statements for the year ending March 31, 2024, was Guo Wei CPA Limited, with a resolution to reappoint them at the upcoming annual general meeting[146] - The board of directors has confirmed the independence of all independent non-executive directors[145] Capital Structure and Financial Position - As of March 31, 2024, the total equity attributable to the owners of the company was approximately HKD 315.0 million, an increase from HKD 288.7 million as of March 31, 2023[139] - The total debt of the group, including interest-bearing bank loans and overdrafts, was approximately HKD 19.6 million, down from HKD 28.0 million as of March 31, 2023[139] - The group's debt-to-equity ratio as of March 31, 2024, was approximately 6.2%, a decrease from 9.7% as of March 31, 2023[162] - The company confirmed that it has sufficient financial resources to meet its obligations in the foreseeable future[139] - There were no significant contingent liabilities as of March 31, 2024, consistent with the previous year[141] Corporate Governance - The board of directors has ensured compliance with the corporate governance code and has maintained a high level of corporate governance practices as of the report date[176] - The independent non-executive directors constitute more than one-third of the board, ensuring a balance of experience and skills relevant to the group's operations[194] - The group has purchased liability insurance for directors and senior management to cover potential legal liabilities arising from their duties[192]
誉燊丰控股(02132) - 2024 - 年度财报