Financial Performance - The group's revenue for the fiscal year ended March 31, 2019, was approximately HKD 419.8 million, a decrease of about HKD 318.4 million or 43.1% compared to HKD 738.1 million for the fiscal year ended March 31, 2018[23]. - The net loss for the fiscal year 2019 was approximately HKD 223.9 million, compared to a net loss of HKD 221.7 million in fiscal year 2018, with a basic loss per share of HKD 0.0221[23]. - Revenue from the foundation piling segment decreased by approximately HKD 138.2 million, a decline of 62.8% compared to the previous fiscal year, due to delays in the approval of new infrastructure projects[23][24]. - Property development revenue fell by approximately HKD 180.2 million, a decrease of 34.8%, attributed to the weakened financial condition of potential homebuyers amid an uncertain global macroeconomic environment[24]. - The loss from the sale of equity instruments was approximately HKD 49,000 in fiscal year 2019, compared to a gain of approximately HKD 58.1 million in fiscal year 2018[36]. - The group's gross loss for fiscal year 2019 was approximately HKD 10.4 million, a significant decrease of 87.9% compared to fiscal year 2018[37]. - Administrative and other expenses for fiscal year 2019 were approximately HKD 80 million, a decrease of about HKD 26.3 million compared to fiscal year 2018[40]. - The group's financial costs decreased from approximately HKD 93.9 million in fiscal year 2018 to approximately HKD 84.1 million in fiscal year 2019, a reduction of about HKD 9.8 million[41]. - The group anticipates that the business outlook for the foundation piling industry remains uncertain in the near future due to limited public projects and increased market competition[49]. Assets and Liabilities - As of March 31, 2019, the group's net current liabilities were approximately HKD 938.8 million, compared to approximately HKD 260.3 million as of March 31, 2018[55]. - The group's debt-to-equity ratio as of March 31, 2019, was 75.0%, slightly down from 75.9% as of March 31, 2018[55]. - The company secured a loan financing of RMB 900 million from related parties and major shareholders to meet operational funding needs, expected to be utilized starting October 2019[156]. - The financing is unsecured, with an annual interest rate of 5%, and must be repaid within 24 months from the drawdown date[156]. - The company anticipates full recovery of all outstanding loans and accrued interest from four independent third parties by the due date[156]. Employee and Corporate Governance - As of March 31, 2019, the company had a total of 141 employees, with 124 based in China and 17 in Hong Kong[63]. - The employee compensation package remains competitive, and the company provides adequate on-the-job training[63]. - The company emphasizes that employees are its most valuable asset and is committed to providing a superior work environment and benefits to retain talent[101]. - The company offers competitive compensation, including performance bonuses, to attract and retain talent, with regular reviews of salaries and benefits[102]. - The board consists of experienced members with relevant professional knowledge related to the company's operations and development[132]. - The company has maintained good corporate governance standards and procedures for the benefit of shareholders[126]. - The board will continue to review its governance practices to ensure compliance with legal requirements and the latest developments[126]. - The company encourages employees to report any potential misconduct related to its operations[121]. Environmental and Social Responsibility - The carbon footprint for the ESG reporting year was estimated at 9,183 tons of CO2 equivalent[89]. - Total electricity consumption was 1,159,522 kWh during the reporting period[99]. - Water consumption amounted to 54,480 cubic meters in the ESG reporting year[99]. - Diesel consumption for machinery usage reached 799,836 liters, while vehicle usage accounted for 10,301 liters[99]. - Natural gas consumption was recorded at 2,238 cubic meters[99]. - The company generated an estimated 285 cubic meters of non-hazardous waste and 3.3 cubic meters of hazardous waste during the reporting year[90]. - The company has implemented energy-saving measures, including adjusting air conditioning to 25.5 degrees Celsius and replacing fluorescent lights with LED systems[94]. - The company is promoting a paperless office initiative to reduce paper consumption and has encouraged double-sided printing[93]. - The company has complied with all applicable environmental laws and regulations in Hong Kong and China during the reporting year[83]. Shareholder and Financial Communication - The company is committed to maintaining effective communication with shareholders and encourages attendance at annual general meetings[166]. - The board did not recommend the distribution of a final dividend for the fiscal year 2019, compared to no dividend in the fiscal year 2018[64]. - Approximately HKD 25.905 million was received from pre-sale proceeds in the property development segment after the fiscal year ending March 31, 2019[156]. - The total issued share capital of the company as of March 31, 2019, was 9,074,000,000 shares with a par value of HKD 0.025 per share[178]. - Major shareholder Liyou Investment Limited holds 2,600,000,000 shares, representing approximately 28.65% of the company's equity[197]. Board and Committee Activities - The board of directors held 10 meetings during the fiscal year ending March 31, 2019[136]. - The Audit Committee held four meetings during the fiscal year ending March 31, 2019, to review significant matters related to financial reporting and internal control procedures[145]. - The Remuneration Committee held two meetings to recommend compensation policies for all directors and senior management[147]. - The Nomination Committee conducted two meetings to review the board's structure and recommend suitable candidates for board membership[148]. - The company provides timely and formal training for directors to ensure they understand current listing rules and regulations[140]. - The company encourages directors to attend training courses to stay updated on corporate governance practices[140].
保集健康(01246) - 2019 - 年度财报