Financial Performance - For the fiscal year 2019/20, total revenue was HKD 887.3 million, a decrease of 31.8% from HKD 1,300.6 million in the previous fiscal year[61]. - Gross profit for the fiscal year 2019/20 was HKD 725.4 million, with a gross margin of 55.8%[55]. - The net profit margin for the fiscal year 2019/20 was 3.5%, down from 8.8% in the previous year, resulting in a net profit of HKD 31.1 million[56]. - The company recorded a net loss of approximately HKD 172.6 million for the fiscal year, significantly up from HKD 62.1 million in 2019[76]. - The basic and diluted loss per share for the fiscal year was 47.0 HKD, compared to 16.9 HKD in the previous fiscal year, indicating a worsening financial performance[45]. - The company's overall revenue decreased by approximately 31.8% to about HKD 887.3 million for the fiscal year ending March 31, 2020, compared to HKD 1,300.6 million in 2019[74]. - Same-store sales growth was approximately -28% for the fiscal year ending March 31, 2020, compared to -10% in 2019[74]. - The company recorded a gain of approximately HKD 29.2 million from the sale of a property in Hong Kong, completed in January 2020[75]. - The company faced significant non-cash write-offs and impairment losses totaling approximately HKD 85.7 million due to store closures and reduced scale measures[76]. Dividends - The board proposed a final dividend of HKD 0.06 per ordinary share and a special dividend of HKD 0.28 per ordinary share[3]. - The company declared a dividend of HKD 22.0 million for the fiscal year 2019/20, with a payout ratio of 63.6%[59]. - The proposed final dividend is 6.0 HK cents, unchanged from the previous period[65]. - The proposed special dividend is 28.0 HK cents, not applicable in the previous period[65]. - As of March 31, 2020, the company's distributable reserves amounted to HKD 393,655,000, with HKD 124,909,000 proposed for the final and special dividends[172]. Environmental Initiatives - The company reported a 33% reduction in carbon dioxide emissions due to environmentally focused measures and reduced store numbers[14]. - Total greenhouse gas emissions decreased by approximately 16%, equating to about 0.01 tons of emissions per square foot of floor area[14]. - Greenhouse gas emissions from Scope 1 decreased from 54.13 tons to 41.06 tons, a reduction of approximately 24%[15]. - Total greenhouse gas emissions (Scope 1, 2, and 3) decreased from 1,981.91 tons to 1,663.62 tons, a reduction of about 16%[15]. - Energy consumption decreased by approximately 12%, with store energy density reducing by about 20%[20]. - Plastic and plastic-coated bag consumption decreased significantly from 55.21 tons to 16.22 tons, a reduction of about 71%[25]. - Paper consumption decreased from 18.70 tons to 14.95 tons, a reduction of approximately 20%[25]. - Hazardous waste from computer tools and toner cartridges decreased by about 50%[26]. - The company received the Hong Kong Environmental Excellence Award for 2019, recognizing its efforts in environmental initiatives[19]. Workforce and Employee Management - The total number of employees decreased from 543 to 297, a reduction of approximately 45%[32]. - The company provided a total of 4,182 hours of employee development and training in the review year, down from 6,398 hours in 2019, indicating a decrease of approximately 34%[33]. - There was a reduction in work-related injury reports, with only 1 report in the review year compared to 3 reports in the previous year, resulting in a total of 0 lost days due to injuries[34]. - Employee count decreased by 57.1% to 543 from 1,268, leading to a reduction in employee costs to approximately HKD 184,300,000 from HKD 237,600,000[85]. Corporate Governance - The chairman and CEO roles were previously held by the same person, but the CEO position was separated on May 7, 2020, to enhance corporate governance[109]. - The board believes that the current structure of leadership provides decisive and effective management for the company's business strategy[109]. - The audit, remuneration, and nomination committees are composed entirely of independent non-executive directors, ensuring appropriate professional qualifications and experience[112]. - The company has adopted a governance policy requiring new directors to receive at least 15 hours of tailored training to understand the business and their responsibilities[106]. - The board held regular meetings, with at least four meetings conducted annually, ensuring adequate attendance and documentation[111]. Risk Management - The company has a clear risk management framework that includes identifying, assessing, and responding to risks, with the board and audit committee overseeing the process[137]. - The risk management process involves four core stages: identifying risks, assessing and prioritizing risks, responding to risks, and monitoring risks[138][139]. - The company has established a central risk register that categorizes risks into five areas: reporting, operations, strategy, compliance, and information technology[138]. - The audit committee is responsible for reviewing and independently assessing the effectiveness of the risk management system at least annually[134]. - The company has implemented a risk response plan that includes transferring, accepting, reducing, or avoiding risks based on their significance[140][142]. Community Engagement - The company continues to engage in community service activities, including blood donation drives, to enhance its social responsibility[41]. - The company collaborates with local universities to provide non-personal data and information for educational purposes, demonstrating its commitment to community engagement[41]. - The company made charitable donations totaling HKD 818,000 during the fiscal year[173]. Compliance and Ethics - The company has not identified any significant non-compliance cases related to applicable product liability laws and regulations during the review year[38]. - The company has not received any reports of corruption or fraud during the review year, indicating a commitment to ethical business practices[39]. - The group has maintained compliance with relevant laws and regulations that significantly impact its operations during the fiscal year[161]. Market Conditions - The company reported a significant decline in sales across all regions, indicating challenges in market conditions and consumer demand[61]. - The company implemented cost-saving measures and reduced inventory levels, particularly for slow-moving items, in response to adverse business conditions[75]. - The company closed several loss-making stores and reduced its retail network in Hong Kong, leading to a loss of approximately HKD 74.2 million in the operating segment for the fiscal year[77]. - The company has paused new development projects and prioritized cost reduction measures due to the unfavorable retail environment[78].
包浩斯国际(00483) - 2020 - 年度财报