Financial Performance - The total revenue for the fiscal year ended March 31, 2021, was approximately HKD 5,237 million, a decrease from HKD 6,247 million in the previous fiscal year[9]. - The company reported a profit attributable to owners of approximately HKD 7.2 million for the fiscal year, compared to a loss of HKD 19.0 million in the previous year[9]. - Basic earnings per share for the fiscal year were approximately HKD 0.12, recovering from a loss of HKD 0.32 per share in the previous year[9]. - Gross profit decreased from approximately HKD 145.4 million in the fiscal year 2020 to about HKD 80.6 million in the fiscal year 2021, a reduction of approximately 64.8 million[21]. - The construction segment's revenue decreased from approximately HKD 202 million in the fiscal year 2020 to about HKD 173 million in the fiscal year 2021[26]. - The renovation and improvement segment's revenue increased to approximately HKD 286 million in the fiscal year 2021, up from HKD 237 million in the previous year[28]. - The property maintenance segment's revenue decreased from approximately HKD 684 million in the fiscal year 2020 to about HKD 640 million in the fiscal year 2021, while segment profit increased from approximately HKD 36 million to HKD 54 million[31]. - The material trading segment reported revenue of approximately HKD 4,138 million in the fiscal year 2021, down from HKD 5,124 million in the previous year[32]. - The company reported a significant increase in revenue for the fiscal year 2021, achieving a total of HKD 1.2 billion, representing a growth of 15% compared to the previous year[81]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency and cost management strategies[81]. Market Outlook - The construction industry in Hong Kong is expected to gradually recover in 2021 due to improved global economic conditions and government investments in infrastructure projects[12]. - The iron ore trading market is expected to grow significantly, with a projected increase of 70% in the iron ore industry by 2021 according to national policies[16]. - The current iron ore market size has reached RMB 500 billion, with a stable upward trend driven by recovering demand in the steel industry[16]. - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 12%, driven by new product launches and market expansion strategies[81]. - The company is planning to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[81]. Financial Position - As of March 31, 2021, current assets were approximately HKD 851.2 million, while current liabilities were about HKD 705.7 million, resulting in a current ratio of 1.21[35]. - The company had total interest-bearing loans of approximately HKD 246.3 million as of March 31, 2021, compared to HKD 243.0 million in the previous year[36]. - As of March 31, 2021, the group's debt-to-asset ratio was approximately 28.7%, an increase from 23.4% as of March 31, 2020[39]. - Total collateralized assets as of March 31, 2021, amounted to HKD 67,354,000, down from HKD 75,998,000 as of March 31, 2020[41]. - The group has disclosed the significant uncertainties related to its financial position and ongoing operations in the financial statements[163]. Contracts and Projects - The total value of uncompleted contracts as of March 31, 2021, was HKD 4,165,645,000, an increase from HKD 3,793,234,000 as of March 31, 2020[53]. - The group secured new contracts worth HKD 317,505,000 in the building construction segment during the fiscal year 2021[54]. - The group reported a total of HKD 11,496,000 in new contracts for property maintenance during the fiscal year 2021[55]. - The total contract value obtained as of March 31, 2021, for renovation and improvement projects is HKD 366,747,000[58]. - Completed contracts in the building construction segment amounted to HKD 142,022,000, with significant projects including a temple in Singapore valued at HKD 60,352,000 and an extension at Nanyang Technological University valued at HKD 81,670,000[61]. Employee and Compensation - The group employed a total of 440 employees as of March 31, 2021, compared to 330 employees as of March 31, 2020[68]. - Total employee compensation for the fiscal year 2021 was approximately HKD 122 million, a decrease from HKD 127 million in the fiscal year 2020[68]. Corporate Governance - The company has adopted high standards of corporate governance, focusing on long-term financial performance rather than short-term gains[149]. - The board consists of five directors, including two executive directors and three independent non-executive directors[188]. - The audit committee, composed of three independent non-executive directors, reviewed the financial statements for the year ending March 31, 2021[199]. - The company has established specific committees with written terms of reference, including the audit committee, remuneration committee, and nomination committee, as required by the listing rules[175]. Risks and Uncertainties - The group identified several key risks, including labor cost increases and project completion uncertainties, which could adversely affect profitability[44]. - The independent auditor has expressed uncertainty regarding the appropriateness of the going concern basis used in preparing the financial statements due to the lack of a loan extension agreement with Mr. Huang Luohui[163]. - There is significant uncertainty regarding the group's ability to continue as a going concern, which may impact its ability to realize assets and settle liabilities[160]. Shareholder Information - Major shareholders include Mega Start Limited with 600,000,000 shares (10.00%), Fount Holdings Limited with 475,000,000 shares (7.92%), and Earnstar Holding Limited with 350,000,000 shares (5.83%)[137]. - The total issued shares of the company as of March 31, 2021, were 6,000,000,000[132]. - The company plans to raise up to HKD 30 million through a rights issue, offering up to 1,500,000,000 shares at a subscription price of HKD 0.02 per share[154]. Audit and Compliance - The independent auditor, Ernst & Young, resigned due to a lack of consensus on audit fees, and a new auditor, RSM, has been appointed[156]. - The auditors have indicated that the audit qualification regarding the going concern assumption could be removed in the next year's report if the company successfully extends the loan repayment date by at least 12 months beyond March 31, 2022, or secures sufficient financial support to repay the loan[183].
绿色经济(01315) - 2021 - 年度财报