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AV CONCEPT HOLD(00595) - 2021 - 年度财报

Financial Performance - Total revenue for 2021 was HK$1,241.2 million, a decrease of 7.2% from HK$1,337.3 million in 2020[6]. - Revenue from semiconductor distribution was HK$1,190.4 million, down 5.5% from HK$1,259.2 million in 2020[6]. - Profit for the year attributable to owners of the company increased to HK$269.8 million, compared to HK$93.5 million in 2020, representing a growth of 188.8%[6]. - Proposed final dividend for 2021 is HK$27.3 million, an increase from HK$22.7 million in 2020, reflecting a growth of 20.3%[6]. - Profit before tax was HK$276.7 million, up from HK$92.5 million in the previous year[33]. - The Group's profit for the year was HK$269.5 million, significantly up from HK$90.8 million in the prior year[39]. - Profit before interest and tax increased to HK$277.7 million from HK$95.9 million in 2020[39]. - The company reported a net profit margin of approximately 20.0% for the year[161]. - Profit for the year attributable to owners of the company was HK$269,788,000, compared to HK$57,278,000 in the previous year, marking an increase of 370.5%[161]. Assets and Liabilities - Total assets increased to HK$1,586.6 million in 2021, up from HK$1,393.8 million in 2020, marking a growth of 13.9%[8]. - Total liabilities decreased to HK$161,606,000 from HK$212,823,000, a reduction of 24.1%[161]. - Total equity rose to HK$1,425.0 million, compared to HK$1,181.0 million in 2020, indicating a growth of 20.7%[8]. - Cash and cash equivalents increased to HK$124.3 million, up from HK$87.7 million in 2020, representing a growth of 41.7%[8]. - The company reported a total debt to total equity ratio of 0.1% in 2021, significantly lower than 9% in 2020[8]. - The total debt to equity ratio as of March 31, 2021, was 0.1%, significantly down from 8.9% as of March 31, 2020[76]. Business Segments - The semiconductor industry is expected to continue its growth driven by trends in Internet of Things, 5G, and automotive applications[25]. - The consumer product and product sourcing business reported revenue of HK$47.1 million, a decline from HK$74.9 million in 2020[39]. - The venture capital segment recorded a loss of HK$15.3 million, consistent with the previous year's loss[39]. - The Group plans to leverage existing resources to enhance its internet social media business through creative channels[53]. - The Group plans to continue expanding its semiconductor distribution business and exploring new product sourcing opportunities[6]. Market Conditions and Challenges - The company anticipates challenges in 2021 due to geopolitical uncertainties and supply chain resilience concerns[27]. - The pandemic has accelerated the shift to e-commerce in Southeast Asia, with more retailers expected to transition online[50]. - The industry faces risks from rapid technology changes and intense competition, which may adversely affect business performance[118]. - Major global semiconductor players are increasing investments to capture future market opportunities amid ongoing supply chain challenges[58]. Management and Governance - The management emphasizes a prudent approach and innovative thinking to navigate the rapidly evolving market conditions[27]. - The Group conducts periodic reviews of its internal control and risk management systems to ensure good corporate governance practices[117]. - The management has implemented monitoring procedures to minimize credit risk, significantly reducing the Group's credit risk exposure[126]. Shareholder Information - The total proposed dividend amounts to approximately HK$27.3 million based on 908,663,302 shares in issue[142]. - As of 31 March 2021, the Company's reserves available for distribution were approximately HK$468.6 million, compared to HK$465.5 million in 2020[153]. - The Company did not purchase, sell, or redeem any of its listed securities during the year[153]. - No Directors or chief executives had registered any interests or short positions in the shares or debentures of the Company as of March 31, 2021[181]. Employee and Talent Management - The board of directors has approved a competitive remuneration package to attract and retain talent, including share option schemes[169]. - The Group employed approximately 164 full-time employees as of March 31, 2021, a decrease from approximately 178 in 2020[84]. Environmental and Regulatory Compliance - The Group is committed to environmental sustainability, striving to minimize its impact by reducing electricity and water usage[130]. - The Group has complied with relevant laws and regulations, with no material breaches reported during the year[131]. - The Group has complied with all relevant environmental protection and safety regulations throughout the year[137].