Financial Performance - For the fiscal year ending July 31, 2021, the company's revenue decreased to HKD 112 million, down approximately 26% from HKD 151.27 million in 2020[19]. - The gross profit fell by about 23% to HKD 81.44 million, compared to HKD 105.31 million in the previous year[19]. - Revenue from the "garment and related accessories" segment dropped approximately 38% to HKD 59.14 million, down from HKD 94.87 million in 2020[19]. - The company reported a loss attributable to shareholders of HKD 1.93 million for the year, compared to a loss of HKD 290.5 million in the previous year[133]. - Total assets as of July 31, 2021, were HKD 2.2 billion, down from HKD 2.3 billion in 2020, reflecting a decrease of approximately 4.6%[133]. - Total liabilities decreased to HKD 669.1 million from HKD 779.7 million in 2020, representing a reduction of about 14.1%[133]. - The equity attributable to shareholders increased slightly to HKD 1.53 billion from HKD 1.53 billion in 2020, showing a marginal increase of 0.05%[133]. - The company made charitable donations totaling approximately HKD 84,000 during the year, significantly up from HKD 13,000 in 2020[130]. - The top five customers accounted for less than 30% of the total revenue, indicating a diversified customer base[131]. - The procurement from the top five suppliers accounted for 84.8% of total procurement, with the largest supplier contributing 23%[132]. Segment Performance - Losses in the "garment and related accessories" segment decreased by about 86% to approximately HKD 15.11 million, compared to HKD 105.25 million in 2020[20]. - Rental income from the "property investment and leasing" segment was HKD 52.86 million, slightly down from HKD 56.40 million in 2020[22]. - The "securities trading" segment reported a profit of HKD 4.67 million, recovering from a loss of HKD 17.52 million in 2020[22]. - The total comprehensive income attributable to the company's owners for the year was HKD 4.78 million, a significant improvement from a loss of HKD 292.02 million in 2020[22]. - In mainland China, the segment's revenue increased to HKD 7,687,000, up from HKD 7,248,000 in the previous year, despite a decrease in the number of stores from 14 to 13[29]. - Royalty income from the "Crocodile" brand in Hong Kong, Macau, and mainland China rose to HKD 5,098,000, compared to HKD 2,354,000 in the previous year[30]. Dividend and Shareholder Information - The board of directors has decided not to recommend a final dividend for the fiscal year ending July 31, 2021[23]. - No interim dividend was declared during the year, consistent with the previous year[24]. - The group did not recommend the payment of a final dividend for the year, consistent with the previous year where no interim dividend was declared[60]. - The company reported a total of 947,543,695 shares issued as of July 31, 2021[103]. - Dr. Lin Jianming held 491,203,000 shares, representing approximately 51.84% of the total issued shares[112]. - Rich Promise Limited owned 472,200,000 shares, accounting for about 49.83% of the total issued shares[111]. Corporate Governance - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors, meeting the minimum requirements set by the listing rules[154]. - The company has established specific committees, including an executive committee, audit committee, and remuneration committee, to assist the board in its functions[150]. - The board has delegated daily management of the company to the management team and the executive committee, focusing on long-term goals and strategies[151]. - The company has adopted a nomination policy to enhance the transparency of the nomination process since January 2019[150]. - The company has ensured that all independent non-executive directors meet the independence criteria as per the listing rules[159]. - The company has established a governance policy that emphasizes accountability, transparency, fairness, and integrity, which has been in place for several years[176]. - The independent auditor's representative participated in the review of the audited financial statements, ensuring transparency and accuracy in financial reporting[180]. Risk Management and Financial Position - The group adopts a conservative strategy in treasury management, regularly monitoring interest and foreign exchange risks[43]. - As of July 31, 2021, the group's cash and cash equivalents amounted to HKD 40,953,000, a decrease of 52.6% from HKD 86,402,000 in 2020[44]. - The total outstanding borrowings, including margin loans, were HKD 559,628,000, with secured margin loans at HKD 4,396,000 and secured bank term loans at HKD 214,992,000[45]. - The debt-to-equity ratio as of July 31, 2021, was approximately 37%, indicating a cautious approach to business development amid global economic volatility[46]. - The group pledged assets with a book value of HKD 1,713,651,000 as collateral for bank credit facilities[48]. Workforce and Employment - As of July 31, 2021, the total number of employees was 157, down from 203 in 2020, reflecting a reduction in workforce[51]. Strategic Focus and Future Plans - The company plans to focus on local consumer preferences and maintain operational efficiency due to reliance on local consumption in the upcoming fiscal year[35]. - The company will offer favorable leasing terms to attract and retain key tenants in response to declining demand for commercial properties[35]. - The group aims to streamline its logistics structure to enhance operational efficiency[40]. - The company continues to focus on its core business in fashion manufacturing, retail, and property investment in Hong Kong and mainland China, with no significant changes in business nature[57]. Compliance and Reporting - The financial statements are prepared in accordance with statutory requirements and appropriate financial reporting standards[195]. - The audit committee held two meetings during the year and reviewed the audited consolidated financial statements for the year ended July 31, 2020, and the unaudited interim results for the six months ended January 31, 2021[180]. - The company has not disclosed any new product developments or market expansions in the current report[120]. - The company did not report any major acquisitions or mergers during the fiscal year[119].
鳄鱼恤(00122) - 2021 - 年度财报