Financial Performance - The group recorded total revenue of approximately HKD 159,834,000 for the year ended March 31, 2021, representing an increase of about 18.6% compared to HKD 134,755,000 in 2020[8] - The general trading segment's revenue increased by approximately 65.5% to about HKD 129,514,000, driven by agricultural product trading, which contributed approximately HKD 58,743,000[8] - Gross profit for the year was approximately HKD 3,341,000, a decrease of about 41.4% from HKD 5,705,000 in 2020, resulting in a gross margin of approximately 2.1%[8] - The loss attributable to owners of the company was approximately HKD 17,932,000, an improvement from a loss of HKD 28,094,000 in 2020[10] - As of March 31, 2021, the company's net liabilities amounted to approximately HKD 89,699,000, indicating significant uncertainty regarding its ability to continue as a going concern[200] Expenses and Financial Costs - Administrative expenses increased by 16.5% to approximately HKD 26,898,000 from HKD 23,092,000 in 2020[9] - Financial costs rose by approximately 141.8% to about HKD 21,869,000, primarily due to increased interest on convertible bonds[9] - Total borrowings amounted to approximately HKD 127,815,000, down from HKD 179,141,000 in 2020, including convertible bonds of about HKD 83,953,000[11] Dividend and Shareholder Information - The group did not recommend the payment of a final dividend for the year ended March 31, 2021[14] - As of March 31, 2021, Lin Qingqu holds 1,592,819,600 shares, representing 74.46% of the company[46] - The beneficial owner of Wai Chun Investment Fund also holds 1,554,338,600 shares, which is 72.66% of the company[50] Corporate Governance and Compliance - The company has committed to enhancing corporate governance quality to attract investment and protect shareholder rights[80] - The company has adhered to the corporate governance code as per the listing rules, with some deviations noted in the separation of the roles of chairman and CEO[81] - The board of directors is composed of experienced individuals, ensuring a balance of executive and non-executive directors to oversee the company's business and affairs[84] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set out in the listing rules[116] - The company has confirmed that public shareholders hold at least 25% of the issued shares as required by listing rules[65] Environmental and Sustainability Initiatives - The company is committed to long-term sustainability through responsible resource use and compliance with environmental laws[72] - The total greenhouse gas emissions for the year 2021 were 23.30 tons of CO2 equivalent, a reduction of 17.18 tons compared to 2020[151][152] - The company implemented various energy-saving measures, including encouraging employees to use video conferencing to reduce unnecessary travel[150] - The group adheres to the 5R principles (Reduce, Reuse, Recycle, Refuse, Recover) to promote resource conservation and environmental responsibility[161] - The company is committed to sustainable operations and resource conservation, despite not generating significant harmful emissions[147] Employee and Labor Practices - The company has five major customers accounting for approximately 95% of total revenue, with the largest customer contributing about 46%[66] - The company has 19 employees as of March 31, 2021, primarily located in Hong Kong, and offers competitive compensation and performance-based bonuses[71] - The group emphasizes employee health and safety, ensuring compliance with legal safety regulations and providing a safe working environment[171] - The employee demographic breakdown shows 50% male and 50% female, with 33% of employees aged 30-50 and 22% aged over 50[169] - There were no significant violations of labor laws or regulations reported in 2021, and no substantial fines or non-monetary sanctions were incurred[168] Strategic Initiatives and Future Plans - The group aims to enhance operational efficiency through rigorous project selection and strict cost control measures[15] - The company plans to launch a new agricultural business in the current year[15] - Future strategies include standardizing procedures and simplifying operations to eliminate redundancies and bottlenecks[15] - The group is actively seeking acquisition or investment opportunities with growth potential[15] - The company intends to conduct fundraising activities, such as share placements or loan capitalization, to improve its financial position[15] Audit and Internal Controls - The audit committee has reviewed the audited consolidated financial statements for the year ending March 31, 2021, ensuring compliance with financial reporting procedures and internal controls[105][109] - The internal audit function is outsourced and reports directly to the audit committee, ensuring effective oversight of internal audit results and management responses[125] - The board believes that the internal control system and risk management were adequate and effective during the financial year[126] - The audit committee expressed satisfaction with the independence of the auditors and the audit process for the year ending March 31, 2021[108] Community Engagement and Social Responsibility - Community investment initiatives include supporting training for competitive software designers and engineers, encouraging employee participation in volunteer services[188] - The group actively supports environmental and social initiatives while conducting its business operations[188] - The group has established an internal audit system to prevent bribery and corruption, with no records of bribery or corruption during the reporting period[186]
伟俊集团控股-新(01013) - 2021 - 年度财报