Financial Performance - The Group's overall revenue increased by approximately 149.1% to approximately HK$933,797,000 for the year ended 31 March 2021, compared to approximately HK$374,903,000 in 2020[8] - Profit attributable to owners of the Company amounted to approximately HK$1,071,000 for the year ended 31 March 2021, slightly up from approximately HK$1,009,000 in 2020[8] - The overall gross profit increased by 2.0% from approximately HK$40,842,000 for the year ended 31 March 2020 to approximately HK$41,653,000 for the year ended 31 March 2021, while the gross profit margin decreased from approximately 10.9% to approximately 4.5%[13] - Other income rose from approximately HK$3,545,000 for the year ended 31 March 2020 to approximately HK$12,699,000 for the year ended 31 March 2021, mainly due to non-recurring government grants and increased recognition of imputed interest[16] - The Group reported a net profit of approximately HK$1,071,000 for the year ended 31 March 2021, compared to approximately HK$1,009,000 in 2020, reflecting an increase of about 6.1%[20] Future Prospects and Strategies - As of 31 March 2021, the Group had outstanding contracts on hand with a total value exceeding HK$700,000,000, compared to over HK$300,000,000 in 2020, securing future revenue[8] - The Group will continue to explore suitable investment opportunities to broaden its revenue base and maximize returns to shareholders[11] - The Board remains prudently optimistic about the prospects of the foundation industry in Hong Kong, despite challenges posed by the COVID-19 pandemic[11] - The ongoing government initiatives to increase land supply and housing development are expected to positively impact the foundation industry in Hong Kong[8] - The Group plans to monitor global economic developments and adjust its business strategies as necessary to balance risks and opportunities[11] Operational Performance - As of 31 March 2021, there were a total of 9 projects in progress, with 4 new projects awarded during the year[13] - The Group had 8 projects practically completed as of 31 March 2021, down from 13 active projects as of 31 March 2020[13] - The increase in overall revenue was mainly attributable to 4 projects located in the Kai Tak Development area being in full swing during the reporting period[13] Expenses and Costs - Administrative and other operating expenses increased by 26.0% from approximately HK$34,627,000 for the year ended 31 March 2020 to approximately HK$43,626,000 for the year ended 31 March 2021[16] - The increase in administrative expenses was primarily due to higher payments for consulting, legal, and professional fees, as well as employee benefits[16] - The Group incurred finance costs of approximately HK$7,513,000 for the year ended 31 March 2021, comparable to approximately HK$7,230,000 for the year ended 31 March 2020[16] Debt and Liquidity - As of 31 March 2021, total debts amounted to approximately HK$201,952,000, up from approximately HK$152,862,000 in 2020, representing an increase of about 32.1%[20] - The gearing ratio as of 31 March 2021 was approximately 216.0%, compared to approximately 165.4% in 2020, indicating a significant increase in leverage[23] - The current ratio of the Group as of 31 March 2021 was approximately 1.2, down from approximately 1.5 in 2020, suggesting a decline in short-term liquidity[23] - The Group had pledged bank deposits and cash balances of approximately HK$42,753,000 as of 31 March 2021, a decrease from approximately HK$87,370,000 in 2020, reflecting a reduction of about 51.1%[23] Corporate Governance - The Board is committed to high standards of corporate governance and has established various committees to oversee different aspects of governance[36][37] - The Group's corporate governance practices comply with the applicable code provisions as set out in the Corporate Governance Code[33] - The Audit Committee is responsible for reviewing the Company's financial information and overseeing risk management and internal control systems[63] - The Company has established Board Committees to oversee specific aspects of its affairs[62] - The Board conducted an annual review of the effectiveness of risk management and internal control procedures, with no significant areas of improvement required[99] Environmental and Social Responsibility - The Group aims to contribute to sustainable development by delivering environmental, social, and economic benefits to stakeholders in a balanced way, as demonstrated in its Environmental, Social, and Governance report for the year ended March 31, 2021[113] - The Group has received recognition for its environmental management systems, including ISO 14001:2015 and ISO 50001:2018 certifications, indicating its commitment to sustainability[118] - The Group's commitment to environmental management is reflected in its ISO 14001:2015 and ISO 50001:2018 certifications[128] - The Group actively seeks opportunities to contribute to green building projects and encourages employee training in this area[144] Employee Welfare and Safety - The Group has implemented several health measures in response to the COVID-19 pandemic, including providing masks and disinfectants to all staff and requiring daily health status reports[195] - The Group's safety policy aims for zero fatalities and emphasizes regular safety training and compliance with safety procedures among subcontractors[198] - The Group promotes a friendly working environment and has been recognized as a Family-Friendly Employer since 2014[181] - The Group's employment policies adhere to various Hong Kong laws, ensuring equal opportunities and non-discrimination in the workplace[185]
剑虹集团控股(01557) - 2021 - 年度财报