Financial Performance - The group reported revenue of approximately HKD 400.0 million for the year, an increase of about HKD 32.8 million or 8.9% compared to approximately HKD 367.2 million for the previous year[6]. - The group recorded a gross loss of approximately HKD 42.4 million for the year, compared to a gross profit of approximately HKD 40.7 million in the previous year[13]. - Other income for the year was approximately HKD 6.2 million, a decrease of about HKD 1.0 million or 13.4% compared to approximately HKD 7.1 million in the previous year[15]. - The net loss attributable to equity holders for the year was HKD 68,283 thousand, a significant decline from a profit of HKD 16,049 thousand in 2018[178]. - Basic and diluted loss per share was HKD (5.97), compared to earnings of HKD 1.78 per share in the previous year[178]. - The group's administrative expenses reached approximately HKD 30.5 million, an increase of about HKD 5.0 million or 19.5% compared to the previous year[16]. - Financing costs amounted to approximately HKD 1.1 million, an increase of about HKD 0.4 million or 48.3% due to increased bank borrowings for operations[17]. - The company reported a distributable reserve of approximately HKD 53,677,000 as of March 31, 2019, compared to none in 2018[53]. Operational Highlights - The group has uncompleted contract amounts of approximately HKD 359.1 million at the end of the reporting period, indicating stable operational scale[6]. - The group secured 7 new contracts during the year with a total original contract value of approximately HKD 390.0 million[11]. - The increase in revenue was primarily due to significant contributions from projects located at Lung Cheung Road and Tai Po, which contributed approximately HKD 164.5 million[12]. - The group completed 9 projects with a total original contract value of approximately HKD 185.0 million during the year[11]. - The group plans to acquire new machinery to meet the increasing demand in the construction industry[95]. - The group is aware of the ongoing demand for residential and commercial buildings, which is expected to continue growing[95]. Cost Management - The board plans to implement appropriate measures to control costs and improve financial performance due to the unsatisfactory financial results[10]. - The group will continue to focus on cost control to enhance financial performance in light of the challenges faced[10]. - Total employee costs, including director remuneration, were approximately HKD 101.9 million, compared to approximately HKD 68.0 million in the previous year[34]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions since the listing date, except for a deviation regarding the roles of the Chairman and CEO[116]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise[119]. - The audit committee held two meetings during the year, with all members attending both meetings[130]. - The company has established three committees: the audit committee, nomination committee, and remuneration committee, with specific members assigned to each[127]. - The company has adopted a nomination policy to identify and assess candidates for board membership based on various criteria including reputation and industry experience[135]. Risk Management - The company has engaged an external independent consultant to review the effectiveness of its risk management and internal control systems, with recommendations being implemented in phases[144]. - The board believes that the risk management and internal control systems remain effective for the current year[144]. Shareholder Information - The company did not declare a final dividend for the year[38]. - The company has a dividend policy aimed at allowing shareholders to share in profits while retaining sufficient reserves for future growth[136]. - The board will consider the group's overall financial condition, capital and debt levels, and future cash needs when deciding on dividend payments[137]. Related Party Transactions - The company has complied with the applicable disclosure requirements regarding related party transactions under the Listing Rules[84]. - There were no significant transactions, arrangements, or contracts related to the company's business involving directors or controlling shareholders during the year[65]. Audit and Financial Reporting - The independent auditor has audited the consolidated financial statements for the year and is eligible for reappointment at the upcoming annual general meeting[96]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and presented in Hong Kong dollars (HKD), rounded to the nearest thousand[198]. - The consolidated financial statements include the financial statements of the company and its subsidiaries for the year ended March 31[199].
俊裕地基(01757) - 2019 - 年度财报