Financial Performance - The company's revenue increased by 93.0% to approximately HKD 204,875,000 for the year ended March 31, 2019, compared to HKD 106,153,000 in 2018[9] - The gross profit for the year was approximately HKD 7,444,000, with a gross margin of 3.6%, down from 5.6% in 2018[9] - The company reported a loss attributable to owners of approximately HKD 28,771,000, an improvement from a loss of HKD 33,505,000 in 2018[11] - The total liabilities of the group exceeded its assets by approximately HKD 170,068,000 and the owner's equity deficit was about HKD 163,891,000 as of March 31, 2019[130] - The group reported a loss of approximately HKD 28,771,000 for the year ended March 31, 2019[130] Cost Management - Selling and distribution expenses decreased by 99% to approximately HKD 18,000, compared to HKD 2,323,000 in 2018, due to cost control measures[9] - Administrative expenses decreased by approximately HKD 4,484,000 (15.6%) compared to the previous year due to stricter cost control[9] - The board is implementing measures to improve the group's working capital and cash flow, including close monitoring of general administrative expenses and operating costs[131] Financial Position and Strategy - The total borrowings of the group were approximately HKD 180,242,000, down from HKD 194,855,000 in 2018[12] - The asset-to-liability ratio (after deducting cash and cash equivalents) increased to 133.7% from 120.4% in 2018[15] - The company intends to conduct fundraising activities, such as share placements or loan capitalization, to improve its financial position[19] - The board believes that the group will have sufficient cash resources to meet its operational funding and other financing needs for the next twelve months[133] - The company is considering improving its financial position and expanding its capital base, which may include fundraising activities such as rights issues or loan capitalization if necessary[131] Governance and Compliance - The board of directors includes experienced members with extensive backgrounds in finance and law, enhancing governance and strategic oversight[39] - The board has confirmed their independence, aligning with corporate governance standards[40] - The company has complied with the corporate governance code as per the listing rules, although it deviated from certain provisions regarding the separation of roles between the chairman and CEO[88] - The independent non-executive directors have reviewed related party transactions and deemed them to be conducted on normal commercial terms and in the best interest of shareholders[66] - The company confirmed its responsibility for preparing consolidated financial statements in compliance with statutory requirements and applicable accounting standards[128] Environmental Performance - The company continues to enhance its environmental performance as a key part of its business strategy and operations[78] - The company successfully reduced indirect carbon dioxide emissions to 31.88 tons, a decrease of 34.6 tons or 52% compared to the previous reporting period[153] - Total direct and indirect greenhouse gas emissions amounted to 36.3 tons, down by 31.19 tons or 46.2% from the previous period[153] - The company's total electricity consumption for the year was 39,100 kWh, a reduction of 34,460 kWh or 46.8% compared to the previous year[159] - The company has adopted the 5R principles (Reduce, Reuse, Recycle, Refuse, Recover) to promote resource conservation and environmental responsibility[163] Employee and Labor Practices - The company employed a total of 23 employees as of March 31, 2019, primarily based in Hong Kong, and provided discretionary bonuses based on performance[76] - The total number of employees increased from 21 in 2018 to 23 in 2019, with 14 in Hong Kong and 9 in Beijing[172] - The company provided statutory benefits including mandatory provident fund for Hong Kong employees and unemployment, retirement, and housing insurance for Chinese employees[172] - Employee training programs were implemented to enhance skills and safety awareness, with basic business skills training provided to new hires[180] - The company adopted a "people-oriented" human resources policy to ensure a safe and healthy work environment[176] Risk Management - The financial risk management objectives and policies are detailed in the annual report, indicating a structured approach to managing potential risks[30] - The internal audit function is outsourced and reports directly to the audit committee, ensuring oversight of the internal audit results and management's responses[136] - The board has determined that the internal control system and risk management were adequate and effective during the financial year[137] Community Engagement - The group supports community investment by allocating resources to train competitive and innovative software designers and developers[194] - The group encourages employees to participate in volunteer services and charitable activities, providing paid leave for such participation[194]
伟俊集团控股-新(01013) - 2019 - 年度财报