Financial Performance - Revenue for the year ended March 31, 2021, was HK$3,705,241,000, an increase of 139% from HK$1,547,841,000 in 2020[15] - Gross profit for the year was HK$147,033,000, a decrease of 6% from HK$156,528,000 in the previous year[15] - Profit for the year was HK$94,700,000, significantly up from HK$23,975,000 in 2020, representing a growth of 295%[15] - Other income and gains increased to HK$24,802,000 from HK$13,940,000, marking a growth of 78%[15] - Net profit for the year ended 31 March 2021 amounted to HK$94,700,000, representing an increase of 295% from HK$23,975,000 in 2020[26] - Basic earnings per share for the year were HK4.74 cents, up from HK1.20 cents in 2020[30] - The Group's gross profit margin decreased from 10.1% for the year ended March 31, 2020 to 4.0% for the year ended March 31, 2021[88] - The increase in profit was partly due to the receipt of government subsidies amounting to HK$18,556,000 from the "Employment Support Scheme"[76] Expenses and Costs - Administrative expenses decreased to HK$65,180,000 from HK$90,292,000, a reduction of 28%[15] - The company reported finance costs of HK$8,350,000, up from HK$1,320,000 in the previous year[15] - Finance costs rose to HK$8,350,000 from HK$1,320,000, mainly due to increased bank loans during the year[99] - Income tax expense rose by 16% from HK$15,621,000 to HK$18,090,000, consistent with the increase in taxable profit[111] Dividends and Shareholder Returns - The Board recommended a final dividend of HK2.5 cents per ordinary share for the year ended 31 March 2021, compared to nil in 2020[44] - Total dividend amount based on 2,000,000,000 ordinary shares issued is HK$50,000,000[45] Assets and Liabilities - The net assets value attributable to owners of the parent as at 31 March 2021 was HK$1,349,543,000, an increase of 8% from HK$1,254,843,000 in 2020[41] - The current ratio decreased to 1.5 in 2021 from 1.8 in 2020[19] - Cash and cash equivalents increased by 47% from HK$616,645,000 as at 31 March 2020 to HK$904,933,000 as at 31 March 2021[116][120] - The Group's banking facilities amounted to HK$2,950,000,000 as of 31 March 2021, up from HK$2,040,000,000 as of 31 March 2020[117][121] - The Group's net gearing ratio remained at 0 as of 31 March 2021, consistent with the previous year[115] - The total balance of prepaid expenses and other receivables decreased due to the recovery of refundable stamp duty of HK$26,979,000 related to land reconstruction[136] Contracts and Projects - The Group estimates that as of March 31, 2021, the gross value of substantial contracts awarded to subsidiaries amounted to approximately HK$4,489 million, with outstanding values of HK$1,444 million[63] - The gross value of substantial contracts awarded to joint operations of the Group was approximately HK$18,675 million, with outstanding values of HK$16,668 million as of March 31, 2021[63] - The Group's ongoing projects include the construction of public housing development at Tuen Mun Area 54 with a contract value of HK$2,269 million and the redevelopment of Queen Mary Hospital with a contract value of HK$9,450 million[61] - Two substantial building construction projects contributed over 58% of the revenue for the year, expected to be completed in the coming twelve months[86] - The Group secured substantial contracts including the Main Works for the Development of Cingleot Premium Logistics Centre valued at HK$5,638 million, with a 49% interest attributable to the Group[92] - Another significant contract was awarded for the Design and Construction of a Joint-user Government Office Building in Tseung Kwan O, amounting to HK$3,587 million, with a 51% interest attributable to the Group[93] - Subsequent to the fiscal year, the Group obtained a contract for the Construction of Public Housing Development at Yip Wong Road with an estimated value of HK$2,260 million[94] Strategic Outlook - Future outlook includes potential market expansion and new project acquisitions, although specific figures were not disclosed[14] - The Group anticipates sustainable and stable tender opportunities for construction contracts from the public sector in the coming years due to government commitments[84] - The Group is focused on enhancing operational efficiency and reducing costs to improve profitability in the upcoming fiscal year[14] - The Group aims to seek opportunities to integrate with business partners to reduce construction costs and enhance project efficiency, creating reasonable returns for the Group and shareholders in the long run[54] Management and Governance - The Group's strategic planning is overseen by Mr. NGAI, who has over 24 years of experience in the construction industry[164] - Mr. CHEUNG, the Chief Executive Officer, is responsible for the Group's day-to-day management and business development[167] - The Group's remuneration policy includes discretionary bonuses and share options based on performance, with no share options granted under the scheme since its adoption[161] - The Group's share option scheme aims to incentivize directors and employees to enhance the Company's value[161] Employee Information - The Group employed 330 full-time employees as of 31 March 2021, a decrease from 336 employees as of 31 March 2020[160] - The Group's employee benefits include mandatory provident fund, medical insurance, and education subsidies, although incentive travel was suspended due to COVID-19[160]
安保工程控股(01627) - 2021 - 年度财报