Financial Performance - The Group recorded a profit of approximately HK$46.2 million for the year ended March 31, 2021, which is similar to the profit of approximately HK$46.4 million in the previous year[13]. - Revenue decreased by approximately 31.8% to HK$119.2 million compared to HK$174.8 million in the previous year[13]. - Profit before taxation for the Group was HK$57,349,000, down 7.4% from HK$62,273,000 in the previous year[99]. - The profit attributable to owners of the Company for the year was HK$46,227,000, a slight decrease of 3.2% from HK$47,738,000 in 2020[99]. - The Group's revenue for the year ended 31st March 2021 was HK$119,221,000, a decrease of 31.8% compared to HK$174,831,000 in 2020[99]. Assets and Liabilities - Total assets increased to HK$3,468.3 million from HK$3,238.2 million in the previous year[9]. - Total liabilities rose to HK$812.5 million from HK$605.1 million in the previous year[9]. - The net assets of the Group were HK$2,655,793,000, slightly up from HK$2,633,091,000 in 2020, indicating a growth of 0.9%[99]. - The total equity attributable to owners of the Company amounted to approximately HK$2,657.0 million as of March 31, 2021, compared to HK$2,634.3 million in 2020[46]. Segment Performance - The financing segment generated revenue of approximately HK$77.8 million and segment results of approximately HK$48.8 million during the year[14]. - The broking segment's revenue was approximately HK$11.4 million, reflecting an 18.8% increase from HK$9.6 million in the previous year, with segment profit rising to approximately HK$243,000[26]. - The financing segment's revenue decreased by approximately 17.8% to HK$77.8 million, while segment results increased by approximately 9.4% to HK$48.8 million[31]. - The properties investment segment recorded revenue of approximately HK$27.1 million, a decrease of approximately HK$37.5 million, with segment results dropping to approximately HK$23.8 million from HK$58.7 million[31]. Economic Environment - The Group's performance was impacted by high unemployment and low wage growth in Hong Kong, affecting private consumption and investment[15]. - The Hong Kong property market showed resilience amid the COVID-19 pandemic, stabilizing after previous declines[16]. - Private consumption spending in Hong Kong only increased by 1.6% year-on-year, primarily due to social-distancing measures[22]. - Hong Kong's economy expanded by 7.8% year-on-year in Q1 2021, following six consecutive quarters of decline[22]. Corporate Governance - The Company is committed to maintaining high standards of corporate governance through its board structure and committee functions[84]. - The Company has established an Audit Committee according to guidelines from the Hong Kong Institute of Certified Public Accountants[157]. - The Board comprises seven committees, including Audit, Remuneration, and Nomination Committees, to oversee various aspects of corporate governance[181]. - The Company has independent non-executive directors who contribute to the Audit, Remuneration, and Nomination Committees[76][78]. Management and Employees - The Group has 40 employees, with staff costs amounting to approximately HK$16.6 million, representing 13.9% of the Group's revenue for the financial year 2021[58]. - The Group continues to enhance employee capabilities through regular training to improve technical skills and industry knowledge[58]. - The Company emphasizes meritocracy in Board appointments, considering diversity as a key element in achieving strategic objectives[199]. Investment Strategy - The company plans to maintain a cautious approach to business strategies and seek new investment opportunities for long-term benefits to shareholders[37]. - The Group is committed to exploring other investment opportunities to enhance long-term economic benefits for shareholders[40]. - The Group's strategy includes regular reviews and timely adjustments to business strategies in response to complex investment environments[40]. Shareholder Information - The proposed final dividend is HK1.0 cent per ordinary share for the year ended March 31, 2021, unchanged from the previous year[58]. - The Company has maintained directors' and officers' liability insurance throughout the year to provide appropriate coverage against legal actions[118]. - The Company did not repurchase, sell, or redeem any of its listed securities during the year ended March 31, 2021[142]. Compliance and Risk Management - The Group practices a tight credit control policy overseen by a credit committee composed of two executive Directors[58]. - A Compliance and Risk Steering Committee and a Strategy Management Committee have been established to maintain good corporate governance[58]. - The independent non-executive Directors have reviewed and confirmed that connected transactions were conducted in the ordinary course of business and on normal commercial terms[146].
美建集团(00335) - 2021 - 年度财报