Financial Performance - The company recorded a net profit of approximately HKD 81.3 million in 2021, an increase from HKD 52.5 million in 2020, representing a year-on-year growth of about 55.5%[18]. - Total revenue for the company was approximately HKD 298.7 million in 2021, compared to HKD 287 million in 2020, indicating a growth of about 4.3%[18]. - The gross profit increased by approximately HKD 33.7 million, primarily due to higher sales prices of new premium burial plots and better cost control[18]. - The company's total assets as of March 31, 2021, were approximately HKD 1.34 billion, up from HKD 1.07 billion in 2020, reflecting an increase of about 25.4%[19]. - Cash inflow for the year was approximately HKD 165.5 million, significantly higher than HKD 47.8 million in 2020[20]. - The company has cash and cash equivalents of approximately HKD 255.9 million as of March 31, 2021, compared to HKD 77.7 million in 2020, marking an increase of about 228.5%[20]. - The company reported a revenue of HKD 298,742,000 for the year ended March 31, 2021, representing an increase of 4.1% compared to HKD 286,990,000 in the previous year[107]. - Profit before tax was HKD 114,163,000 with a tax expense of HKD 32,872,000, resulting in a net profit of HKD 81,291,000, which is a 54.8% increase from HKD 52,535,000 in the prior year[107]. Strategic Initiatives - The company plans to establish Zunyi Dachenshan as a benchmark enterprise in Guizhou province within three years, promoting green burial concepts[10]. - The company is actively responding to local government initiatives for green and high-end development in Yinchuan, promoting ecological burial practices[10]. - The company plans to continue promoting modernization and ecological reforms in the funeral industry, aiming to establish itself as a benchmark in the sector[17]. - The company aims to enhance its service offerings by exploring innovative and diversified funeral services to meet customer needs[17]. - The company is focused on integrating traditional cultural elements into its services, promoting a unique funeral culture brand that reflects national values[17]. - The company is expanding its market presence through innovative product structures and personalized ecological burial methods[9]. Corporate Governance - The board consists of six members, including three executive directors, one non-executive director, and two independent non-executive directors, failing to meet the requirement of at least three independent non-executive directors[101]. - The company has established a remuneration committee to review and determine the remuneration of directors based on their responsibilities and the company's performance[74]. - The company has maintained a strong independent element in its board composition, with over one-third of the directors being independent non-executive directors[118]. - The board is responsible for leading and overseeing the company's affairs, with clear division of responsibilities between the board and management[122]. - The company has appointed Hong Kong Lixin Dehao CPA Limited as its auditor for the fiscal year ending March 31, 2021, following the dismissal of Ernst & Young[105]. - The company has arranged appropriate directors' and officers' liability insurance for its directors and executives[97]. Environmental and Social Responsibility - The company is actively promoting green burial concepts and updating its "green policy" to balance sustainable development and environmental protection[191]. - The company adheres to all environmental regulations and has not faced any significant violations related to environmental protection during the reporting period[191]. - The company has established a sustainable development strategy that includes environmental sustainability and respect for human rights and social culture[182]. - The company is committed to strict monitoring of harmful gas emissions from its cremation services to minimize environmental impact[197]. - The company planted 109,237 trees in the reporting year, a significant decrease from 148,216 trees planted in the previous year, aimed at reducing its carbon footprint[198]. Shareholder Engagement - The company encourages shareholders to submit written requests for special meetings to address specific matters[174]. - The company has a structured approach to addressing shareholder proposals and resolutions during annual general meetings[175]. - The board is committed to providing timely and comprehensive information to shareholders regarding the company's performance and financial condition[160]. - The company emphasizes effective communication with shareholders to enhance investor relations and ensure transparency in business performance and strategies[171]. Employee and Management Development - The company emphasizes the importance of management talent and service personnel training, implementing a comprehensive training program to enhance staff quality[11]. - The company is focused on the transformation of management practices, moving from basic operational capabilities to excellence in service quality[11]. - Employee headcount included 12 employees in Hong Kong and 364 in China as of March 31, 2021, compared to 13 and 285 respectively in 2020[23]. - Total employee costs for the year were approximately HKD 46,300,000, compared to HKD 45,000,000 in 2020[24].
安贤园中国(00922) - 2021 - 年度财报