Financial Performance - The company's profit attributable to owners increased from approximately HKD 75.7 million for the year ended March 31, 2020, to approximately HKD 118.3 million for the year ended March 31, 2021, representing an increase of about 56.3%[16] - Revenue decreased from approximately HKD 450.5 million for the year ended March 31, 2020, to approximately HKD 371.1 million for the year ended March 31, 2021, a decrease of about 17.6%[18] - The financial public relations services segment generated revenue of approximately HKD 363.9 million for the year ended March 31, 2021, down about 2.5% from HKD 373.2 million in the previous year[20] - The international roadshow services segment's revenue decreased by approximately 90.7% to about HKD 7.2 million for the year ended March 31, 2021, compared to HKD 77.3 million in the previous year due to the global pandemic[23] - The profit before tax for the year ended March 31, 2021, was approximately HKD 135.2 million, compared to HKD 95.1 million for the year ended March 31, 2020[5] Assets and Liabilities - Total assets increased to HKD 2,004.7 million as of March 31, 2021, from HKD 1,899.3 million as of March 31, 2020[8] - Total liabilities decreased to HKD 361.0 million as of March 31, 2021, from HKD 414.9 million as of March 31, 2020[8] - As of March 31, 2021, the group's cash and bank balances totaled approximately HKD 151.7 million, up from HKD 108.0 million in 2020[28] - The group's debt-to-equity ratio decreased to 0.2% as of March 31, 2021, down from 8.5% in 2020, indicating improved financial stability[28] Dividends and Shareholder Value - The company did not declare a final dividend for the year ended March 31, 2021, consistent with the previous year[17] - The board recommended not to pay a final dividend to ordinary shareholders for the fiscal year ending March 31, 2021, consistent with the previous year[58] - The company aims to enhance shareholder value by promoting business development for sustainable profit growth while providing stable dividends[71] Strategic Focus and Market Expansion - The company plans to focus on enhancing its financial public relations services amid ongoing market challenges[19] - The company aims to explore new strategies for market expansion and product development in response to changing market conditions[19] - The group plans to continue expanding its market presence in Hong Kong and overseas while deepening its footprint in mainland China[36] Investments and Income - The group's investment income from bond securities was HKD 79.1 million for the year ended March 31, 2021, compared to HKD 44.4 million in 2020, reflecting a significant increase[24] - The group recorded a gain of HKD 11.2 million from the sale of debt instruments measured at fair value through other comprehensive income, compared to a loss of HKD 3.9 million in 2020[24] - The company has significant investments, including HKD 111.2 million in Silver Grant International Holdings Limited, representing 5.5% of total assets[24] Risk Management and Compliance - The company identified operational and market risks as key challenges, influenced by macroeconomic conditions and financial market volatility[63] - The company has maintained compliance with regulatory requirements, including the Securities and Futures Ordinance and listing rules[62] - The company is closely monitoring currency risks, particularly related to the RMB, and will consider hedging strategies as necessary[29] - The company is committed to complying with all regulatory requirements as a listed entity on the Hong Kong Stock Exchange[70] - The compliance department conducted an assessment of the company's risk management and internal control, indicating no significant weaknesses in internal controls[146] Corporate Governance - The company has adopted the same standards for securities trading by directors as outlined in the listing rules, confirming compliance for the fiscal year ending March 31, 2021[126] - The audit committee consists of three independent non-executive directors, responsible for reviewing and supervising the group's financial reporting and internal controls[117] - The company is committed to high standards of corporate governance and has adhered to all code provisions during the fiscal year[125] - All independent non-executive directors have confirmed their independence and have been appointed for a three-year term, subject to re-election at the annual general meeting[133] Environmental and Social Responsibility - The company emphasized the importance of environmental protection and has implemented measures such as promoting a paperless office and using energy-efficient appliances[59] - The company has implemented a green office program aimed at reducing energy consumption and improving resource efficiency[161] - The group actively engages in community investment through charitable donations and encourages employee participation in community activities[185] - The company is committed to protecting human rights and complies with all relevant laws regarding forced labor and child labor[179] Employee Relations and Development - The company emphasizes the importance of employees as valuable assets and aims to provide competitive compensation and career development opportunities[65] - The company provided competitive compensation and medical insurance to employees, adhering to labor laws and regulations[173] - The company encourages employees to engage in on-the-job training and skill development to enhance overall efficiency and morale[176] Communication and Stakeholder Engagement - The company has established various channels to enhance communication with clients to improve market penetration and expansion[68] - The company has established a website to facilitate communication with shareholders and investors, providing access to business developments and financial information[155] - The company has maintained effective communication with stakeholders to understand their perspectives and gather feedback[160] Shareholding Structure - As of March 31, 2021, the total equity held by Liu Tian Ni is 815,616,000 shares, representing 70.83% of the issued share capital[96] - Sapphire Star Investments Limited, controlled by Liu Tian Ni, holds 750,000,000 shares, accounting for 65.14% of the company's issued share capital[106] - Liu Tian Ni and Liu Qing jointly own 6,904,000 shares, while Liu Qing holds an additional 58,712,000 shares[107] - Fidelity Fund Limited and Pandanus Associate Inc. each hold 106,208,000 shares, representing 9.22% of the issued share capital[106] Audit and Financial Reporting - The independent auditor confirmed that the financial statements accurately reflect the group's financial position as of March 31, 2021, in accordance with Hong Kong Financial Reporting Standards[188] - The company is responsible for preparing true and fair consolidated financial statements according to the Hong Kong Financial Reporting Standards and the Companies Ordinance[198] - The management is tasked with overseeing the financial reporting process of the group[199] - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[200]
皓天财经集团(01260) - 2021 - 年度财报