Financial Performance - For the year ended March 31, 2021, the Group's turnover was HK$796 million, a decrease of 23% compared to HK$1,031 million in 2020[15]. - The profit attributable to shareholders increased by 474% to HK$81 million from HK$14 million in the previous year[15]. - The decrease in turnover was primarily due to the sale of land and construction in progress related to the Lianyungang project and a decline in hotel and restaurant business in Hong Kong[15]. - The improvement in operating profit was attributed to better results from the restaurant, bakery, and hotel businesses during the year[15]. - The Group's revenue for the fiscal year ending March 31, 2021, was HKD 796,026,000, a decrease of 23% compared to HKD 1,031,070,000 in the previous year[19]. - Shareholders' profit increased by 474% to HKD 81,004,000 from HKD 14,123,000 in the previous year, attributed to improved performance in the restaurant, bakery, and hotel sectors[19]. Business Segments Performance - The restaurant business in Mainland China saw a 31% growth in turnover, while the Hong Kong restaurant turnover decreased by 18% due to COVID-19 restrictions[28]. - The "Shun Yi" Shunde cuisine restaurants experienced a significant turnover surge of 158% this year, contributing to the overall recovery in the restaurant segment[28]. - The Group's bakery business recorded an 8% decrease in turnover, but profit increased by 554% due to improved retail performance and government subsidies[27]. - The turnover of the restaurant, food, and hotel segment for the year ended March 31, 2021, was HK$705,681,000, a decrease of 8% from HK$768,403,000 in 2020[180]. - The segment profit for the year was HK$105,049,000, an increase of 364% from HK$22,634,000 in 2020, due to improved operating results and government subsidies[181]. - The overall restaurant turnover decreased by 18% to HK$318,675,000 from HK$389,445,000 in 2020, primarily due to COVID-19 restrictions in Hong Kong[182]. Economic and Market Conditions - The year 2020/2021 faced challenges due to global trade disputes and COVID-19, which disrupted economic activities and weakened local demand[16]. - China's GDP is expected to rise to over 7% in 2021, supporting the Group's business performance recovery[35]. - The Group anticipates continued progress in business performance alongside the recovery of the economy and increasing consumer spending power in Mainland China[36]. Strategic Initiatives and Future Outlook - The Group will focus on business development in the Greater Bay Area, where demand for commercial buildings and office towers remains strong[35]. - New property projects, including the Guangzhou South Station Property and two redevelopment projects in Shum Shui Po, are expected to provide additional income in the short to medium term[35]. - The Group's food business is optimistic about expansion in Mainland China, supported by the new Hainan production facility and a new bread production line that commenced operation in November 2020[38]. - Management remains cautiously optimistic about the restaurant and bakery business performance as the pandemic eases[37]. - Cost control and business strategy adjustments will be implemented to enhance competitiveness in response to market changes[37]. Corporate Governance and Leadership - Liang Rui has been appointed as the Chief Executive Officer and Executive Director since January 2, 2021, bringing nearly 17 years of experience in various senior positions within the Shenzhen Luohu District People's Government[52]. - Chan Francis Ping Kuen has over 30 years of experience in auditing, accounting, and financial management, and was appointed as the Chief Financial Officer and Executive Director on March 1, 2020[53]. - The Company has a strong leadership team with extensive experience in finance and management, including members with backgrounds in multinational corporations and public accountancy[54]. - The independent non-executive directors bring over 30 years of professional experience in financial and investment services across Australia, Hong Kong, and other Asian countries[58]. - The Board of Directors consists of eight members, including five executive directors and three independent non-executive directors as of March 31, 2021[68]. Risk Management and Internal Controls - The Company has established adequate systems of financial and internal controls to ensure compliance with applicable laws and regulations[72]. - The Board conducted semi-annual reviews of the internal control and risk management systems, considering them adequate and effective during the year[143]. - The Board is responsible for maintaining effective risk management and internal control systems to safeguard the Group's assets[142]. Shareholder Communication and Engagement - The Company established various communication channels for shareholders, including an annual general meeting and a dedicated website for timely information access[145]. - The Company allows shareholders to propose or inquire to the Board through written requests sent to its principal place of business in Hong Kong[145].
佳宁娜(00126) - 2021 - 年度财报