Financial Performance - The company reported a consolidated profit of $X million for the fiscal year, representing a Y% increase compared to the previous year[3]. - The Group's revenue for the year amounted to HK$1,165 million, representing a 46% increase compared to HK$800 million in the previous year[25]. - The Group achieved a net profit of HK$59 million this year, a significant recovery from a net loss of HK$146 million last year, driven by strong retail sales performance[39]. User and Market Growth - User data showed an increase in active users to Z million, reflecting a growth rate of A% year-over-year[3]. - The company provided a forward guidance of $B million in revenue for the next quarter, indicating a projected growth of C%[3]. - New product launches contributed to a D% increase in sales, with specific emphasis on the success of the E product line[3]. - Market expansion efforts have led to entry into G new regions, expected to generate an additional $H million in revenue[3]. Investments and Acquisitions - The company is investing $F million in R&D for new technologies aimed at enhancing operational efficiency and product offerings[3]. - The company completed an acquisition of I, which is anticipated to enhance its market position and add $J million in annual revenue[3]. - Strategic partnerships have been established with J companies to leverage synergies and drive growth in key markets[3]. Cost Management and Profitability - The company has implemented cost-cutting measures that are projected to save $K million annually, improving overall profitability[3]. - Distribution costs decreased by 26% to HK$119 million from HK$161 million last year, primarily due to reduced amortization charges for right-of-use assets[29]. - Administrative expenses fell by 19% to HK$38 million compared to HK$47 million last year, mainly due to lower bank charges, consultancy fees, and director's remuneration[29]. Asset and Equity Changes - Total assets increased slightly to HK$815 million from HK$807 million, a 1% rise[19]. - Equity attributable to owners of the Company rose by 21% to HK$414 million from HK$343 million[19]. - The Group's total cash balance as of March 31, 2021, was HK$131 million, up from HK$69 million on March 31, 2020[39]. Corporate Governance - The Company has maintained a high standard of corporate governance practices throughout the year ended March 31, 2021, except for certain deviations from the Corporate Governance Code[121]. - The position of Chairman has been vacant since the passing of Mr. Eav Yin on September 4, 2020, with executive duties shared among remaining executive directors[121]. - The Board currently comprises two Executive Directors and three independent non-executive Directors[145]. Environmental and Social Responsibility - The Group emphasizes environmental protection and sustainable development, implementing measures such as energy-saving practices and recycling initiatives[111]. - The Group promotes energy saving by encouraging staff to switch off air-conditioning and lighting before leaving the office[111]. - The Group did not make any charitable donations during the year[113]. Remuneration and Training - The total remuneration of the auditors for statutory audit services is HK$1,200,000 for the year ended March 31, 2021, compared to HK$1,270,000 in 2020[180]. - The Remuneration Committee held one meeting during the year to assess the performance of executive directors and senior management[178]. - The Company has arranged training for all Directors to refresh their knowledge and skills during the year[195]. Compliance and Regulations - The Company has confirmed compliance with the disclosure requirements of Chapter 14A regarding continuing connected transactions[69]. - The Group has complied with all relevant laws and regulations in mainland China, Switzerland, and Hong Kong that significantly impact the Group as of March 31, 2021[113]. - The Company has maintained the prescribed public float under the Listing Rules as of the date of the annual report[109].
ASIA COMM HOLD(00104) - 2021 - 年度财报