Financial Performance - The group recorded total revenue of approximately HKD 134,755,000 for the year ended March 31, 2020, a decrease of about 34.2% compared to HKD 204,875,000 in 2019[7]. - Gross profit for the year was approximately HKD 5,705,000, down about 23.4% from HKD 7,444,000 in 2019, with a gross margin of approximately 4.2%[7]. - The group reported a loss attributable to owners of approximately HKD 28,094,000 for the year, compared to HKD 28,771,000 in 2019[9]. - The company has no distributable reserves available for shareholders as of March 31, 2020, the same as the previous year[35]. - The group recorded current liabilities and net liabilities of approximately HKD 77,501,000 and HKD 192,668,000, respectively[195]. - The capital deficiency attributable to owners was approximately HKD 190,459,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[195]. - The group’s financial statements were prepared on a going concern basis, despite the significant uncertainties highlighted[195]. Cost Management - Administrative expenses decreased by 4.5% to HKD 23,092,000 from HKD 24,192,000 in 2019 due to stricter cost control measures[8]. - The group plans to enhance operational efficiency through standardized procedures and cost control measures to restore profitability[16]. Borrowings and Financial Position - Total borrowings amounted to approximately HKD 179,141,000, slightly down from HKD 180,242,000 in 2019[10]. - The asset-to-liability ratio (after deducting cash and cash equivalents) was approximately 189.0%, up from 133.7% in 2019[12]. - The group intends to conduct fundraising activities, such as share placements or loan capitalizations, to strengthen its financial position[16]. Dividends - No final dividend was recommended for the year ended March 31, 2020[13]. - The company did not recommend the distribution of a final dividend for the year ending March 31, 2020, consistent with the previous year[30]. Governance and Compliance - The board of directors includes independent non-executive directors who have confirmed their independence according to the listing rules[37]. - The company has established service agreements with executive directors for a term of up to three years, continuing until terminated with one month's notice[38]. - The company has confirmed compliance with the standards set out in the code of conduct for securities trading by directors[58]. - The company has complied with the public float requirement, with at least 25% of issued shares held by the public as of the report date[66]. - The company has adhered to the corporate governance code but has deviated from specific provisions regarding the tenure of non-executive directors[83]. Risk Management - The group’s financial risk management objectives and policies are outlined in the financial statements[28]. - The company emphasizes the importance of internal control systems and risk management, with the board playing a crucial role in overseeing these functions[86]. - The internal control and risk management systems were deemed sufficient and effective by the board during the financial year[131]. Employee Information - The group has a total of 15 employees, primarily located in Hong Kong, and provides competitive compensation along with discretionary bonuses based on performance[72]. - The total number of employees as of March 31, 2020, is 15, a decrease from 23 in 2019, with 10 in Hong Kong and 5 in Beijing[163]. - Gender distribution among employees in 2020 is 8 males to 7 females, compared to 13 males to 10 females in 2019[163]. - The company has maintained compliance with all statutory obligations regarding employee compensation, benefits, and welfare, with no complaints or disputes reported during the reporting period[163]. Environmental Responsibility - The company is committed to long-term sustainability through responsible resource use and compliance with applicable environmental laws and regulations[74]. - The company has implemented various energy-saving measures to reduce carbon emissions and is monitoring energy consumption closely[153]. - The company adheres to the "5R" principles (Reduce, Reuse, Recycle, Refuse, Recover) to promote resource conservation and environmental responsibility[158]. - The company has not received any penalties or warnings from environmental authorities regarding air, water, or waste pollution during the reporting period[150]. Stakeholder Engagement - The company engages with stakeholders through various communication channels, including annual performance evaluations and investor briefings[142]. - The company maintains open communication with stakeholders, including regular meetings with regulatory bodies and community engagement initiatives[142]. Audit and Financial Review - The audit committee reviewed the audited financial statements for the year ending March 31, 2020, and expressed satisfaction with the independence of the auditors[111]. - The total audit service fee received by the company for the year ended March 31, 2020, was HKD 500,000[122]. - The independent auditor's report emphasized the importance of the impairment assessment of trade and other receivables as a key audit matter[198].
伟俊集团控股-新(01013) - 2020 - 年度财报