Financial Performance - Revenue was approximately HKD 1,172.7 million, down about 36.7% from HKD 1,853.9 million in 2020[9] - Gross profit margin increased to 67.1%, up approximately 1.8 percentage points from 65.3% in 2020[9] - EBITDA was approximately HKD 184.9 million, compared to a loss of HKD 266.7 million in 2020[9] - Loss attributable to owners of the company was approximately HKD 168.3 million, down from HKD 637.5 million in 2020[9] - Basic loss per share was approximately HKD 0.1295, compared to HKD 0.4904 in 2020[10] - Customer count was approximately 11.6 million, down about 35.6% from 18.0 million in 2020[9] - The group's revenue decreased by approximately 36.7% to about HKD 1,172.7 million compared to HKD 1,853.9 million in the previous year[39] - The group's restaurant operations revenue for the "Fu Lin" brand series decreased by 50.6% to HKD 564.5 million in 2021 from HKD 1,143.2 million in 2020[40] - The group reported a net loss of HKD 168,305,000 for the year ended March 31, 2021, with current liabilities exceeding current assets by HKD 357,105,000[118] Operational Strategies - The company aims to enhance operational efficiency and market share through a diversified brand strategy[14] - The group has implemented various operational strategies during the pandemic, including enhanced sanitation measures and regular employee testing[34] - The group has introduced various takeaway options and online ordering services to maintain customer dining habits during the pandemic[36] - The group plans to close underperforming restaurants and implement various cost control measures to improve profitability[120] Future Outlook - The company is optimistic about the future of the Hong Kong and mainland dining market and plans to adjust its menu and brand structure[14] - The group is optimistic about the restaurant industry's prospects as social distancing measures are expected to be relaxed, allowing for increased seating capacity and extended operating hours[22] - The group believes that the dining industry in China will continue to grow, with an expected revenue growth rate of 8.0%-9.0% from 2020 to 2026[33] - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20%[58] - New product launches are expected to contribute an additional 10% to overall revenue in the upcoming year[58] Corporate Governance - The company emphasizes the importance of good corporate governance for long-term success and sustainable development[80] - The board regularly reviews the corporate governance practices to ensure compliance with the Listing Rules[81] - As of May 13, 2021, the company has separated the roles of chairman and CEO to enhance corporate governance[81] - The board consists of nine members, including six executive directors and three independent non-executive directors, ensuring a balanced composition for independent viewpoints[85] - The company has maintained compliance with the corporate governance code throughout the fiscal year ending March 31, 2021, except for a specific deviation[81] Financial Position - Total assets increased to approximately HKD 1,206.1 million as of March 31, 2021, compared to HKD 1,011.4 million in 2020[43] - The total borrowings rose to approximately HKD 177.8 million in 2021 from HKD 94.6 million in 2020, primarily due to an increase in term loans[44] - The current ratio decreased to approximately 0.5 in 2021 from 0.7 in 2020, indicating a decline in liquidity[43] - The group has overdue lease liabilities of approximately HKD 80 million as of March 31, 2021[118] - The group is actively negotiating with lenders for waivers regarding financial covenants and is seeking to extend loan repayment periods[120] Shareholder Information - The company has a significant shareholder structure, with Mr. Yang Wei holding 69.88% of the shares[186] - The top five customers accounted for less than 30% of total sales for the year, indicating a diversified customer base[171] - The top five suppliers represented approximately 34.4% of total procurement, an increase from 29.4% in the previous year[171] Community and Environmental Commitment - The company has a commitment to community service and charitable activities, as demonstrated by Mr. Chan's involvement in various organizations[75] - The company is committed to environmental sustainability and compliance with relevant laws and regulations[181] - The company plans to publish an environmental, social, and governance report within three months after the annual report[183] Strategic Partnerships and Acquisitions - The company is exploring potential acquisitions to enhance its product offerings and market reach[58] - The company is exploring opportunities for acquisitions or strategic alliances, which has delayed the utilization of unutilized proceeds[154] Risk Management - The board has reviewed the effectiveness of the risk management and internal control systems for the year ended March 31, 2021, and found them to be effective and adequate[136] - The internal audit department provides independent assurance to the board regarding the adequacy and effectiveness of the risk management and internal control systems[134] - The group has adopted a "three lines of defense" risk management framework to ensure compliance with regulatory and legal requirements while achieving business objectives[134]
富临集团控股(01443) - 2021 - 年度财报