Financial Performance - The company reported a revenue of approximately HKD 437.4 million for the fiscal year ending March 31, 2021, representing a year-on-year increase of 20.8%[11] - Profit attributable to equity holders increased significantly by 33.9% to approximately HKD 58.1 million, compared to HKD 43.4 million in the previous fiscal year[11] - Total revenue increased by approximately HKD 75.3 million (20.8%) from approximately HKD 362.1 million in the fiscal year 2020 to approximately HKD 437.4 million in the fiscal year 2021, primarily driven by sales growth in personal care appliances, particularly the hair care and beauty series[36] - Gross profit increased by approximately HKD 19.2 million (17.6%) to approximately HKD 128.0 million, with a slight decrease in gross margin by 0.7 percentage points to 29.3%[36] - Profit attributable to equity holders increased by approximately HKD 14.7 million (33.9%) to about HKD 58.1 million in the fiscal year 2021, with a net profit margin rising from 12.0% to 13.3%[40] - Cash and bank balances increased to approximately HKD 166.0 million as of March 31, 2021, compared to approximately HKD 56.4 million as of March 31, 2020, primarily due to net proceeds from a global offering of about HKD 66.2 million and an increase in total revenue of approximately HKD 75.3 million[44] Product Development and Market Strategy - The company plans to launch its self-branded product "iHA" smart toilet lid in mainland China in 2022, following the completion of technical verification[12] - The company aims to strengthen its position in the home appliance market by investing resources in its self-branded products while continuing its ODM business model[12] - The company plans to launch its own brand of smart toilet lids targeting the high-end market in mainland China, with the product expected to be officially launched in 2022[21] - The company is focusing on developing new products while maintaining existing orders to ensure stable business growth[31] - The company is actively seeking to expand and diversify its business to create new revenue sources and enhance returns for shareholders[32] - The company is focused on expanding its market presence and enhancing its product offerings through new technology and product development initiatives[60] Operational Challenges and Cost Management - The company has faced increased operating costs due to supply chain challenges, raw material shortages, and rising prices, but remains confident in maintaining profitability[12] - Administrative expenses decreased by approximately HKD 1.9 million (4.4%) to about HKD 41.6 million in the fiscal year 2021, compared to approximately HKD 43.5 million in the fiscal year 2020[37] - Financing costs recorded during the reporting period were HKD 74,000, a significant decrease from approximately HKD 245,000 in the fiscal year 2020[38] - Income tax expenses increased by approximately HKD 2.1 million (17.9%) to about HKD 13.8 million in the fiscal year 2021, compared to approximately HKD 11.7 million in the fiscal year 2020[39] Market Performance - The hair care series revenue grew by 15.7% to HKD 346,114 thousand, while the beauty series revenue surged by 1,697.1% to HKD 23,326 thousand, mainly due to increased demand for beauty care products in the Japanese market[26] - The company experienced a 42.7% year-on-year sales growth in the Japanese market, with its sales proportion increasing by 6 percentage points to 38.9%[27] - The personal care appliances segment accounted for a subtotal revenue of HKD 413,756 thousand, representing a 22.9% increase compared to the previous fiscal year[26] - The lifestyle appliances segment reported a revenue decline of 24.9% to HKD 4,330 thousand[26] Corporate Governance and Management - The company has a strong management team with extensive experience, including Ms. Tang Shuyi, who has over 30 years in the personal care appliance industry and has been with the group since 1988[62] - The independent non-executive director, Mr. Liao Qiyu, has over 20 years of experience in corporate finance, accounting, and auditing, providing independent opinions to the board[64] - The board of directors includes members with diverse backgrounds in engineering, finance, and management, ensuring a well-rounded approach to corporate governance[64] - The company has established appropriate directors and officers liability insurance for its directors and senior officers[118] - The company has a history of appointing experienced professionals to key management positions to enhance its operational efficiency[75] Shareholder Returns and Dividends - The company declared a final dividend of HKD 0.038 per share[11] - The board proposed a final dividend of HKD 0.038 per share for the fiscal year 2021, compared to no dividend in the fiscal year 2020[55] - The group reported a proposed final dividend of HKD 0.038 per share, subject to shareholder approval at the annual general meeting on August 9, 2021[86] Future Plans and Investments - The net proceeds from the global offering amounted to approximately HKD 66.2 million after deducting underwriting fees and expenses[19] - The net proceeds from the global offering amount to approximately HKD 66.2 million, with 54.5% allocated for expanding and upgrading production facilities, totaling HKD 36.1 million[166] - 24.8% of the net proceeds, amounting to HKD 16.4 million, is designated for enhancing research and engineering capabilities, expected to be utilized by March 2023[166] - The company plans to introduce new products under its brand "他別," with 12.9% of the net proceeds, equating to HKD 8.5 million, allocated for this purpose, expected by September 2022[166] Compliance and Risk Management - The company has complied with all provisions of the Corporate Governance Code since its listing, except for the separation of the roles of Chairman and CEO, which is currently held by Mr. Li Shuye[183] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's accounting principles and internal controls for the fiscal year ending March 31, 2021[176] - The company will review its corporate governance policies and compliance with the Corporate Governance Code annually[186] - The company ensures that all directors are informed of the matters to be discussed in meetings they cannot attend, maintaining transparency[196]
科利实业控股(01455) - 2021 - 年度财报