Financial Performance - The company reported a revenue of approximately HKD 210.2 million for the year ended March 31, 2020, representing a growth of 118.0% compared to HKD 96.4 million in 2019[25]. - The apparel business generated revenue of approximately HKD 194.2 million, an increase of 113.9%, while the property investment business recorded revenue of HKD 3.9 million, a decline of 31.6%[25]. - The profit attributable to equity holders was HKD 9.4 million, a significant turnaround from a loss of HKD 28.2 million in the previous year[25]. - Revenue from the garment business increased by approximately 113.9% from HKD 90,800,000 for the year ended March 31, 2019, to approximately HKD 194,200,000 for the year ended March 31, 2020[46]. - Revenue from property investment decreased by approximately 31.6% from HKD 5,700,000 for the year ended March 31, 2019, to approximately HKD 3,900,000 for the year ended March 31, 2020[46]. - The group recorded a gross profit of approximately HKD 26,400,000 for the apparel business for the year ended March 31, 2020, an increase of about 183.9% compared to approximately HKD 9,300,000 for the year ended March 31, 2019[48]. - The gross profit margin for the apparel business increased to approximately 13.6% for the year ended March 31, 2020, up from approximately 10.3% for the year ended March 31, 2019, due to higher margins from online sales[48]. - The group recorded a gross profit of approximately HKD 3,900,000 from property investment, a decrease of about 31.6% from approximately HKD 5,700,000 for the previous year[48]. Marketing and Business Strategy - The company has expanded its marketing department to provide promotional services to external clients, leveraging its experience with authorized brands[26]. - Future strategies include enhancing market analysis, product development, and online store management services[26]. - The marketing department aims to provide services such as market analysis, promotional planning, and online store management to external clients[42]. - The company plans to diversify its business and expand its product offerings to capture sales opportunities as the consumer market recovers[56]. Financial Position and Cash Flow - As of March 31, 2020, the group's cash and bank balances totaled approximately HKD 12,300,000, up from approximately HKD 4,500,000 the previous year[64]. - The group's total bank and other borrowings amounted to approximately HKD 220,500,000 as of March 31, 2020, compared to approximately HKD 198,600,000 the previous year[65]. - The group's trade receivables and payables as of March 31, 2020, were approximately HKD 87,200,000 and HKD 37,000,000, respectively, compared to approximately HKD 39,400,000 and HKD 1,800,000 as of March 31, 2019[71]. - The total employee cost for the year ended March 31, 2020, was approximately HKD 10,500,000, a decrease from approximately HKD 16,300,000 for the year ended March 31, 2019[89]. - The utilized financing amount for bank guarantees as of March 31, 2020, was approximately HKD 10,400,000, a decrease from approximately HKD 33,000,000 as of March 31, 2019[84]. Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, with no personal relationships among current directors[170]. - The company has adopted the standard code of conduct for securities transactions and confirmed compliance by all directors for the year ending March 31, 2020[167]. - The company is committed to maintaining high levels of corporate governance and has applied relevant principles and complied with the corporate governance code during the year ending March 31, 2020[166]. - The audit committee held two meetings during the year ending March 31, 2020, and is composed of three independent non-executive directors[152]. - The board is responsible for ensuring the continuity of leadership and the development of sound business strategies, with a focus on adequate funding and management resources[179]. Shareholder Information - The company did not recommend any dividend for the year ended March 31, 2020, compared to zero dividend in 2019[103]. - The board will continuously review the dividend policy and retains the absolute right to update, amend, or cancel it at any time[104]. - The company has no distributable reserves as of March 31, 2020, compared to zero in 2019[113]. - The company has a share option scheme approved by shareholders on September 28, 2016, allowing for the issuance of up to 77,540,600 shares, which is 10% of the total issued shares at the time[142]. Management and Directors - The company has over 25 years of brand management experience through its executive director, who previously founded a clothing distribution company[35]. - The independent non-executive directors bring over 20 years of accounting and legal experience, enhancing the company's governance and oversight[36][37][38]. - The Nomination Committee is responsible for reviewing the board's structure and recommending suitable candidates for directorship[200]. - The company has not established any predetermined dividend distribution portion or ratio[104]. Compliance and Legal Matters - The company has complied with relevant laws and regulations that could significantly impact its business and operations during the review year[161]. - The company has not participated in any arrangements that would allow directors or key executives to benefit from purchasing shares or securities of the company during the fiscal year ending March 31, 2020[135]. - The company has no management or administrative contracts related to its overall or any major part of its business for the year ending March 31, 2020[159].
龙翼航空科技(00918) - 2020 - 年度财报