Financial Performance - The company's revenue increased from approximately SGD 46.6 million for the year ended March 31, 2020, to approximately SGD 49.1 million for the year ended March 31, 2021, representing an increase of about 5.4%[7]. - Gross profit rose from approximately SGD 12.8 million to approximately SGD 21.8 million, resulting in a gross margin increase from 27.5% to 44.4%[7][12]. - The group recorded revenue of approximately SGD 49.1 million for the year ending March 31, 2021, an increase of about SGD 2.5 million or 5.4% compared to SGD 46.6 million for the previous year[19]. - Revenue from integrated building services decreased from approximately SGD 35.6 million to SGD 31.9 million, a decline of about SGD 3.7 million due to government-imposed lockdown measures[19]. - Revenue from building construction projects fell by approximately 50.0% from SGD 7.4 million to SGD 3.7 million, primarily due to reduced construction activities during the lockdown[19]. - The group reported a profit attributable to owners of approximately SGD 5.3 million for the year ending March 31, 2021, compared to a loss of SGD 901,000 the previous year[31]. Business Growth and Challenges - The blockchain technology development and application business saw revenue growth of approximately 288.6%, increasing from about SGD 3.5 million to approximately SGD 13.6 million[14]. - Bitcoin prices increased significantly from approximately USD 6,500 at the end of March 2020 to about USD 59,000 at the end of March 2021, benefiting the company's operations[14]. - The company faced challenges in its integrated building services and construction engineering businesses due to government-imposed lockdowns during the COVID-19 pandemic[8][12]. - The company has diversified its business since 2018, successfully navigating the challenges posed by the COVID-19 pandemic[8]. - The company anticipates challenges in the construction industry in Singapore due to the impact of COVID-19 measures, which have delayed project timelines[56]. Financial Position and Investments - As of March 31, 2021, the group maintained a strong financial position with total cash and bank balances of approximately SGD 21.7 million[34]. - The company plans to invest SGD 12.475 million in expanding its integrated building services and construction projects in Singapore, with SGD 3.856 million already utilized[56]. - The company has not used any financial instruments to hedge its foreign exchange risks as of March 31, 2021[39]. - The company has entered into various agreements for joint ventures and acquisitions, including a partnership in Ningbo, China, with total investments of RMB 25.5 million, RMB 15 million, and RMB 9.5 million from different parties[45]. Corporate Governance - The management team emphasized the importance of maintaining strong corporate governance practices to protect shareholder interests[78]. - The board of directors consists of seven members, including one executive director and three independent non-executive directors, ensuring diverse oversight[80]. - The company has adhered to the corporate governance code as per the listing rules, demonstrating commitment to accountability and transparency[78]. - The company has established three board committees: the audit committee, the remuneration committee, and the nomination committee, each with defined responsibilities[103]. - The company encourages continuous professional development for directors, providing internal training and resources to ensure compliance with current regulations[94]. Shareholder Information - The board has decided not to recommend any final dividend for the reviewed year[153]. - As of March 31, 2021, Mr. Yao Yongjie holds 366,175,000 shares, representing approximately 33.44% of the company's ordinary shares[173]. - Major shareholder Morgan Hill holds 365,175,000 shares, representing 33.35% of the company's total issued share capital[178]. - The company has a stock option plan effective from January 5, 2017, valid for ten years, aimed at incentivizing employees and attracting talent[184]. Stock Options - The total number of stock options available for issuance under the plan is 55,500,000, accounting for approximately 5.07% of the company's issued share capital[186]. - The exercise price for stock options is determined by the board and must be at least the higher of the closing price on the grant date or the average closing price over the preceding five trading days[187]. - The fair value of unexercised vested and unvested stock options as of March 31, 2021, is approximately HKD 4,319,000 and HKD 4,764,000, respectively[190].
雄岸科技(01647) - 2021 - 年度财报