Financial Performance - The group's revenue for the year ended March 31, 2024, was approximately HKD 299.4 million, an increase of about HKD 71.8 million or 31.5% compared to HKD 227.6 million for the year ended March 31, 2023[8]. - The net profit for the group was approximately HKD 40.8 million, a significant recovery from a net loss of approximately HKD 16.4 million in the previous year[9]. - The group's revenue for the year ended March 31, 2024, was approximately HKD 299.4 million, an increase of about HKD 71.8 million or 31.5% compared to HKD 227.6 million for the year ended March 31, 2023[21]. - Net profit for the year ended March 31, 2024, was approximately HKD 40.8 million, compared to HKD 16.4 million for the same period in 2023, indicating a significant increase due to higher revenue[32]. - The cost of inventory and consumables for the year ended March 31, 2024, was approximately HKD 38.5 million, up from HKD 28.0 million in 2023, primarily due to increased revenue[23]. - Employee costs for the year ended March 31, 2024, were approximately HKD 100.3 million, compared to HKD 80.3 million in 2023, reflecting an increase due to fewer temporary closures of medical beauty centers[25]. - Other income for the year ended March 31, 2024, was approximately HKD 2.2 million, down from HKD 6.0 million in 2023, as there were no government subsidies in 2024[24]. - Total equity as of March 31, 2024, was approximately HKD 60.3 million, compared to HKD 19.5 million in 2023, indicating a strong improvement in the company's financial position[35]. - The group reported total outstanding debts of approximately HKD 45.5 million as of March 31, 2024, a decrease from HKD 66.4 million in 2023[35]. - As of March 31, 2024, the debt-to-equity ratio is 75.6%, a significant decrease from 340.4% in 2023, primarily due to an increase in the group's net asset value[41]. - The group has approximately HKD 10.0 million in secured and unsecured bank borrowings as of March 31, 2024, down from approximately HKD 14.4 million in 2023[48]. Business Expansion and Strategy - The group opened a new center in Central, contributing to the revenue increase alongside improved consumer sentiment and government consumption voucher schemes[13]. - The group plans to continue expanding its operational scale by opening several new centers in prime locations to enhance market penetration and profitability[18]. - New brands launched during the year include "Angus' Beauty Concept," "LASERKOOL," and "Face It," aimed at diversifying the service offerings and attracting a broader customer base[18]. - The group remains optimistic about the industry outlook, supported by strategic business expansion and effective marketing efforts[13]. - The group aims to enhance its competitive advantage by increasing the variety of treatment services offered through the acquisition of new treatment equipment and consumables[13]. - The group has strategically expanded its network of medical beauty centers in key locations such as Causeway Bay, Tsim Sha Tsui, and Mong Kok[18]. - The group plans to leverage its strong customer base and reputation to drive steady business growth and maximize shareholder value in the future[20]. Dividend and Shareholder Information - The group did not recommend the payment of a final dividend for the year ended March 31, 2024, consistent with the previous year[10]. - The company did not recommend the payment of a final dividend for the fiscal year ending March 31, 2024[79]. - As of March 31, 2024, Mr. Ye and Ms. Fu each hold 511,500,000 shares, representing 63.94% of the company's equity post-share issuance[93]. - Equal Joy, a major shareholder, is beneficially owned by Mr. Ye and Ms. Fu, each holding 50% of the issued shares[94]. - The total number of share options available for grant under the share option scheme is 80,000,000 shares, which is 10% of the total issued shares as of the report date[103]. Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules and has complied with all applicable provisions during the year[136]. - The board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[140]. - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[136]. - The board meets regularly to discuss overall strategy and review financial performance, holding six meetings during the year[143]. - The company encourages continuous professional development for directors to ensure they are well-informed and capable of fulfilling their responsibilities[155]. - The Audit Committee held five meetings during the year to review the group's interim, quarterly, and annual performance[161]. - The Remuneration Committee approved the remuneration and performance bonuses for the company's directors and senior management during two meetings[163]. - The Nomination Committee met twice to consider the reappointment of retiring directors and reviewed the board's structure and independence[167]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional qualifications to enhance competitive advantage[168]. - The Audit Committee is responsible for recommending the appointment and remuneration of external auditors and reviewing financial statements[164]. - The board is aware of its responsibility for overseeing the company's risk management and internal control systems, which are reviewed at least annually[172]. - The board's attendance record shows full participation in meetings, indicating strong governance practices[171]. - The company has established a clear internal control system to ensure assets are not misused and to comply with relevant accounting standards[176]. - An independent internal control consultant has been appointed to review the effectiveness of the internal control system annually, with the board believing that significant risks are controlled within acceptable limits[176]. - The audit committee has confirmed that the company has sufficient resources, qualified staff, and training programs for its accounting and financial reporting functions[178]. Risks and Compliance - The company is subject to various risks, including government policy risks that may impose stricter regulations on the medical beauty services industry[71]. - The company has identified economic, social, or political conditions in Hong Kong as significant risks affecting its business operations and demand for medical beauty services[74]. - The company remains committed to complying with applicable environmental laws and minimizing negative impacts on the environment[75]. - The company has established procedures for employees to confidentially report any concerns regarding financial reporting or internal controls[179]. - The company conducts regular self-assessments in all departments to ensure compliance with monitoring policies and to identify potential risks[175]. Environmental, Social, and Governance (ESG) - The group is focused on enhancing environmental management, social responsibility, and governance performance through improved data collection and reporting systems[200]. - The company aims to expand the scope of disclosures in its environmental, social, and governance reports to enhance quality and comprehensiveness[200]. - The report reflects the group's commitment to providing high-quality medical beauty services to care for customers' skin[200]. - The group is addressing stakeholders' concerns regarding long-term sustainability through transparent and public disclosures[200]. - The financial performance and capital requirements of the group are being closely monitored to ensure effective management of retained earnings and distributable reserves[199]. - The board considers various internal and external factors that may impact the company's business and financial performance[199]. - The group is assessing its liquidity position to ensure sufficient working capital for ongoing operations[199]. - The overall economic conditions and business cycles are being evaluated for their potential effects on the company's performance[199]. - The group is committed to maintaining a strong return on equity while managing corresponding restrictions[199]. - The company is focused on its actual and expected financial performance to guide future strategic decisions[199].
亮晴控股(08603) - 2024 - 年度财报