Financial Performance - The audited consolidated profit attributable to owners for the year ended March 31, 2019, was HKD 81,388,000, a decrease of HKD 76,746,000 or approximately 49% compared to the previous year, primarily due to a decline in overall newspaper revenue[8]. - Overall revenue for the group was HKD 734,962,000, a decrease of approximately 11% compared to the previous year, primarily due to external factors affecting the advertising market[23]. - Digital media revenue recorded HKD 122,393,000, showing a slight increase of about 1% year-on-year, despite challenges in the print media sector[23]. - The proposed final dividend for the reporting year is HKD 0.02 per share, down from HKD 0.04 in 2018, resulting in a total annual dividend of HKD 0.03 per share compared to HKD 0.31 in the previous year[12]. Cash and Capital Expenditure - As of March 31, 2019, the group's operating cash was approximately HKD 821,337,000, down from HKD 1,433,565,000 in 2018, with cash and bank balances amounting to HKD 524,039,000 compared to HKD 1,249,413,000 in the previous year[9]. - The group's capital expenditure for the reporting year was approximately HKD 9,087,000, a decrease from HKD 10,963,000 in 2018[10]. - The group's capital debt ratio as of March 31, 2019, was 0.4%, compared to 0.3% in 2018, indicating a slight increase in leverage[9]. Digital and Media Platforms - The Oriental Daily News has maintained its position as the number one paid newspaper in Hong Kong for 43 consecutive years, with a retail price increase to HKD 10 per copy in February 2019, leading to significant growth in circulation revenue[16]. - The on.cc news website recorded 5.59 million unique monthly visitors and over 10 million active users, with a total page view count of 413 million across web and mobile platforms[17]. - The ontv online television platform focused on live broadcasts and diversified programming, becoming a leader in sports event live streaming and gaining official recognition for broadcasting events like the Italian Cup and German 2nd Division football league[18]. - The Money18 platform, designated by the Hong Kong Stock Exchange for real-time stock quotes, achieved over 284 million page views monthly and has over 200,000 app downloads, establishing itself as a leading financial information social platform in Hong Kong[19]. Property and Rental Income - The rental income from properties in Hong Kong reached HKD 4,815,000 for the reporting year, while income from Australian properties and hotel operations was HKD 19,873,000, remaining stable compared to the previous year[22]. - The board anticipates stable development in the Hong Kong property market, which is expected to benefit the financing business, while rental income may decrease due to economic uncertainties[27]. Employee and Workforce Management - The company employed 1,368 staff as of March 31, 2019, down from 1,459 the previous year, with compensation determined based on industry norms and employee performance[30]. - The employee turnover rate for the reporting year was approximately 10.3% of the total workforce, indicating a stable workforce environment[56]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance performance[99]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[100]. - The independent non-executive directors have confirmed their independence annually, with no involvement in daily management, ensuring unbiased oversight[101]. - The company has adopted a corporate governance policy and complies with the Hong Kong Stock Exchange's listing rules[99]. Risk Management and Internal Controls - The company has a risk management and internal control framework in place, overseen by the board[100]. - The internal audit team regularly reports to management on the adequacy and effectiveness of internal controls, covering financial monitoring, operational monitoring, compliance, and risk management[138]. - The company has established a comprehensive risk management policy to effectively identify, assess, analyze, and mitigate risks[134]. Shareholder Communication and Relations - The company has a shareholder communication policy aimed at promoting effective communication with shareholders and stakeholders[150]. - The company encourages shareholders holding at least 5% of total voting rights to request the convening of a general meeting[149]. Audit and Financial Reporting - The consolidated financial statements for the reporting year were audited by Heng Jian CPA Limited[86]. - The independent auditor confirmed that the financial statements fairly reflect the group's financial position as of March 31, 2019[155]. - The audit process involves understanding internal controls related to the audit to design appropriate audit procedures[196]. - The auditors maintain professional skepticism and assess risks of material misstatement due to fraud or error[195].
东方企控集团(00018) - 2019 - 年度财报