Loan Portfolio and Credit Quality - As of March 31, 2024, the company's loan portfolio consists of individual loan amounts ranging from approximately HKD 2,323,000 to HKD 16,690,000, with an average loan amount of approximately HKD 5.9 million, down from HKD 7.4 million in 2023[5]. - The credit quality remains healthy, with 90% of the loan portfolio secured by collateral, and a weighted average interest rate of approximately 11%, up from 10% in 2023[5]. - The largest borrower has a loan amount of HKD 16,690,000, and the top five borrowers account for a total of HKD 44,748,000, representing 31% and 84% of the loan portfolio, respectively[5]. - The company has established clear credit policies and procedures to manage credit risk effectively, ensuring a robust credit assessment process[6]. - The company has no outstanding loans from its major shareholder as of March 31, 2024, compared to HKD 40,000,000 in 2023[13]. Financial Performance and Capital Raising - The company successfully issued HKD 50,000,000 in interest-bearing notes in January 2020 to fund its lending business, and has since repaid all outstanding amounts to save on financing costs[11]. - The company raised approximately HKD 34.3 million from the placement of 1,822,980,000 new shares at a price of HKD 0.0193 per share, with 60% of the net proceeds allocated to expanding the timber supply chain business[16]. - The company plans to utilize the remaining 40% of the net proceeds from the share placement for general working capital[16]. - The company does not recommend the distribution of any final dividend for the year ending March 31, 2024 (2023: none)[31]. Governance and Board Structure - The board consists of seven directors, including four executive directors and three independent non-executive directors, ensuring a diverse skill set and experience[51]. - Major shareholders include Ms. Wang, Elite Prosperous, and Champion Alliance, each holding approximately 26.82% of the issued shares, totaling 2,444,359,944 shares[43]. - The board is committed to ensuring at least three independent non-executive directors, with a balanced composition of three executive directors and three independent non-executive directors as of March 31, 2024[81]. - The board consists of three female directors and four male directors, reflecting a commitment to gender diversity[130]. - The company has not established any service contracts with directors that cannot be terminated within one year without compensation[63]. Environmental, Social, and Governance (ESG) Practices - The company welcomes stakeholder feedback regarding its environmental, social, and governance performance[52]. - The company has established appropriate and effective management policies and internal control systems regarding environmental, social, and governance (ESG) matters[93]. - The board of directors is responsible for formulating and reporting on the company's ESG strategies, ensuring that ESG principles are integrated into decision-making processes[113]. - The company actively responds to stakeholder concerns regarding environmental issues, including carbon neutrality and energy conservation[109]. - The company has implemented an environmental policy aimed at minimizing adverse environmental impacts and promoting sustainable business practices[133]. Risk Management and Internal Controls - The company has established a risk management and internal control system to manage significant risks, including environmental, social, and governance risks, integrated into daily operations[160]. - An independent professional firm, Roma Risk Consulting Limited, was engaged to conduct an annual review of the risk management and internal control system[161]. - The board believes that the current risk management and internal control systems are effective and sufficient, with no significant weaknesses identified[182]. - The audit committee is responsible for overseeing the implementation and effectiveness of the whistleblowing policy and investigating subsequent actions[165]. - Roma has submitted a corporate risk management report and an internal control report to the audit committee and management, detailing investigation results and improvement recommendations[185]. Employee and Stakeholder Engagement - The company has implemented a performance evaluation system to reward outstanding employees with competitive compensation and career development opportunities[76]. - The company maintains a balanced and unbiased ESG report, avoiding any misleading information that could affect stakeholders' decisions[121]. - The company actively engages stakeholders through various communication channels to identify sustainability issues and potential risks[86]. - The remuneration committee is responsible for developing and reviewing compensation policies to attract and retain high-quality talent, which is crucial for the company's success[126]. - The gender ratio of the employee team, including senior management, is approximately 5:4, indicating achieved gender diversity[172].
信保环球控股(00723) - 2024 - 年度财报