Financial Performance - For the year ended 31 March 2021, the Company recorded a loss before tax of approximately HK$18.2 million, a significant improvement from a loss of approximately HK$98.4 million in 2020[11]. - Total revenue for the Year was approximately HK$53.9 million, representing a decrease of approximately 18.6% compared to HK$66.2 million in the previous year[11]. - Revenue from the sales of optical frames and sunglasses decreased by approximately 21.7% or approximately HK$49.0 million, down from HK$62.6 million in 2020, primarily due to the impact of the COVID-19 pandemic[11]. - Rental income from property investment slightly decreased from approximately HK$2.1 million in 2020 to approximately HK$1.9 million in 2021, remaining relatively insignificant to the Group's operations[11]. - The Group did not record any revenue from debts and securities investment for both years, with the fair value of securities investment amounting to approximately HK$5.3 million as of 31 March 2021[11]. Business Acquisitions and Investments - The Group acquired Gulf Energy (China) Limited for HK$20 million, which is engaged in the sale and trading of liquefied petroleum gas products[24]. - The company acquired 100% equity of Bay Energy (China) Limited for HK$20 million, which will now operate as a wholly-owned subsidiary[28]. - The Group plans to diversify its business and income streams by exploring opportunities in the energy sector, particularly liquefied petroleum gas[16]. - The company plans to use approximately HK$39.1 million from the 2021 Placing for potential investments in debt, securities, film projects, and energy-related businesses[30]. Capital Raising and Utilization - The Company raised approximately HK$12.1 million through the placing of 121,310,000 new ordinary shares at HK$0.1 each[25]. - The company entered into a subscription and placing agreement for a maximum of 45,000,000 new shares at HK$0.381 per share, raising approximately HK$54.1 million for future investments and general working capital[27]. - As of March 31, 2021, HK$7.8 million of the net proceeds from the 2020 Placing had been utilized for general working capital and potential future investments[25]. - As of March 31, 2021, HK$35.5 million had been utilized for investment and acquisition, with only HK$1.0 million used for general working capital from the 2021 Placing[32]. Financial Stability and Ratios - As of March 31, 2021, the Group's cash and cash equivalents amounted to approximately HK$40.1 million, an increase from HK$28.4 million in 2020, while short-term borrowings decreased to approximately HK$23.4 million from HK$30.5 million in 2020[34]. - The debt to equity ratio as of March 31, 2021, was approximately 7.4%, down from 12.1% in 2020, indicating improved financial stability[34]. - The Group's equity attributable to owners increased to approximately HK$283.4 million as of March 31, 2021, compared to HK$229.4 million in 2020, reflecting a growth of about 23.6%[34]. Employee and Workforce Management - The Group employed 235 full-time employees as of March 31, 2021, a decrease from 271 in 2020, indicating a reduction in workforce[34]. - The employee turnover rate for 2021 was 0%, with no work-related fatalities or injuries reported[83]. - The Group offers competitive remuneration and benefits, with annual salary reviews based on performance and market trends[75]. - The Group provides comprehensive professional training to employees to enhance service quality[91]. Environmental Sustainability - Total greenhouse gas emissions decreased by 22.9% from 2,952.3 tonnes in 2020 to 2,275.3 tonnes in 2021[66]. - Water consumption reduced significantly by 72.7%, from 103,429 m³ in 2020 to 28,247 m³ in 2021, with water intensity dropping from 0.22 m³/m² to 0.06 m³/m²[66]. - Electricity consumption decreased by 21.7%, from 3,991,005 kWh in 2020 to 3,124,825 kWh in 2021, with energy intensity improving from 8.3 kWh/m² to 6.9 kWh/m²[66]. - Paper consumption decreased by 67.1%, from 7.89 tonnes in 2020 to 2.59 tonnes in 2021, reflecting the company's commitment to paper-saving initiatives[70]. Corporate Governance - The Company has complied with the Corporate Governance Code throughout the year ended March 31, 2021, with some deviations rectified[112]. - The Board consists of six Directors, including three executive Directors and three independent non-executive Directors[121]. - The Company has adopted a code of conduct for Directors' securities transactions, confirming compliance throughout the year[121]. - The Company emphasizes continuous professional development for directors, providing updates on regulatory requirements and macroeconomic conditions[132]. Risk Management - The Audit Committee assessed that the Group operated at a manageable risk level and continued to improve its management system[155]. - The Company maintained adequate systems of internal control and risk management to safeguard shareholders' investments and assets[174]. - The internal audit function independently appraises the adequacy and effectiveness of the Control Systems[182]. - Significant risks have been identified, with key strategies and control measures outlined in the Management Discussion and Analysis section of the report[183].
高雅光学(00907) - 2021 - 年度财报