Financial Performance - For the year ended March 31, 2021, the Group's revenue was approximately HK$381.3 million, an increase of 3.2% compared to HK$369.4 million in the previous year[11] - Profit attributable to owners of the Company was approximately HK$213.2 million, up from HK$139.7 million in 2020, reflecting a significant increase[14] - The increase in profit was mainly due to a decrease in net impairment loss on accounts receivable from margin clients, which was approximately HK$55.7 million, down from HK$110.9 million in the previous year[14] - Basic earnings per share for the year were HK9 cents, an increase from HK6 cents in 2020, indicating improved profitability[14] - Operating expenses, including commission and settlement expenses, were generally in line with revenue, suggesting effective cost management[11] - The increase in revenue was primarily driven by higher brokerage commission due to increased turnover during the year[11] - The Group recorded no imputed interests of convertible bonds, contributing to a decrease in finance costs[14] - The financial performance indicates a positive outlook for the Group, with a focus on maintaining revenue growth and managing expenses effectively[11] - Future guidance suggests continued focus on improving operational efficiency and exploring new market opportunities[11] Brokerage and Advisory Services - The broking business reported a profit of approximately HK$21.7 million for the year ended 31 March 2021, a 442.5% increase from HK$4.0 million in 2020[23] - Revenue from broking increased by 68.1% to approximately HK$73.8 million, up from HK$43.9 million in the previous financial year[23] - The Group completed 4 financial advisory transactions in the year ended 31 March 2021, up from 2 in 2020, resulting in a segment profit of approximately HK$0.6 million, an increase from HK$0.2 million in 2020[26] Assets and Liabilities - Total interest income from securities margin financing decreased by 5.7% to approximately HK$306.6 million, down from HK$325.2 million in 2020[24] - Total gross accounts receivable from margin clients at 31 March 2021 amounted to approximately HK$3,811.3 million, compared to HK$3,692.3 million as of 31 March 2020[24] - Net impairment loss on margin clients receivable was HK$55.7 million during the current year, down from HK$110.9 million in 2020[24] - Equity attributable to owners of the Company increased to approximately HK$4,021.0 million as at 31 March 2021, representing a growth of approximately HK$89.5 million or 2.3% compared to the previous year[30] - The Group's net current assets amounted to approximately HK$3,993.8 million as at 31 March 2021, an increase from HK$3,810.7 million in 2020, with a current ratio of 6.29 times, down from 8.88 times in 2020[30] - Bank balances and cash on hand increased to approximately HK$328.2 million as at 31 March 2021, compared to HK$260.9 million in 2020, primarily due to cash inflows from accounts receivable[30] - The Group had no bank borrowings as at 31 March 2021, with unutilised banking facilities of approximately HK$740 million, down from HK$905 million in 2020[30] - The Group had no material contingent liabilities at the end of the year, indicating a stable financial position[34] Workforce and Management - The Group had 73 full-time employees as of 31 March 2021, an increase from 59 in 2020, indicating a growth in workforce[34] - The Group's total employee remuneration cost for the year was approximately HK$22.0 million, an increase from HK$19.9 million in 2020, reflecting a growth of about 5.5%[34] - The management remains cautiously optimistic about future business development and overall performance, focusing on providing comprehensive services to affluent and high-net-worth clients[28] - The Group plans to continue recruiting and training financial talents to maintain high-quality financial services[28] Corporate Governance - The Company has complied with the Corporate Governance Code provisions during the year ended March 31, 2021[67] - The Board is collectively responsible for promoting the success of the Company by directing and supervising the Group's affairs[77] - The Company aims to maintain transparency and accountability to its shareholders[70] - The Company has adopted a board diversity policy to enhance effectiveness, considering factors such as gender, age, culture, and educational background[83] - The Board meets at least four times a year to discuss business development, operations, and financial performance, with a minimum of 14 days' notice provided for meetings[99] - The Company has arranged liability insurance for its Directors and officers, reviewed annually to ensure adequate protection against potential legal liabilities[86] - The Company emphasizes the importance of good corporate governance for maintaining investor confidence[65] Risk Management - The Board adopted a risk management policy and risk appetite statement during the year, defining the types of risk the Group is prepared to pursue, retain, or tolerate[176] - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss[173] - The Group's senior management is responsible for maintaining and reviewing the effectiveness of risk control to minimize operational risks[180] - A risk register has been established to document risks and actions for ongoing management[180] - The Board has confirmed that the risk management and internal control systems are effective and adequate[180] Shareholder Information - The final dividend recommended by the Directors is HK3 cents per share, leading to a total dividend of HK6 cents per share for the financial year[36] - Shareholders holding at least one-tenth of the paid-up capital can requisition an extraordinary general meeting[187] - The procedures for shareholders to direct enquiries to the Board are clearly outlined, ensuring effective communication[187] Compliance and Transparency - The Group has implemented a fair disclosure policy to ensure transparency in communications with the public[185] - The Group maintains a high degree of transparency to ensure shareholders receive accurate and timely information through annual reports and announcements[185] - The Group restricts access to inside information to a limited number of employees on a need-to-know basis[184] - Designated persons are authorized to communicate with external parties, ensuring controlled dissemination of information[185] Audit and Financial Reporting - The Audit Committee met twice during the year ended March 31, 2021, and reviewed the annual consolidated financial statements and the announcement of the final results for the year ended March 31, 2020[157] - The Company is committed to presenting a balanced and clear assessment of its financial statements and disclosures as required under regulatory requirements[157] - The total audit services provided by Mazars CPA Limited amounted to HK$1,360,000, a decrease of 2.86% from HK$1,400,000 in 2020[166] - The total remuneration for the external auditor, including audit and taxation services, was HK$1,452,000 for the year ended March 31, 2021, compared to HK$1,423,000 in 2020, reflecting a slight increase of 2.04%[166]
结好金融(01469) - 2021 - 年度财报