Financial Performance - For the fiscal year ending March 31, 2020, the company reported revenue of approximately HKD 213.1 million, a decrease of about HKD 186.9 million or 46.7% compared to approximately HKD 400.0 million for the previous year[8]. - The company recorded a gross profit of approximately HKD 16.0 million, an improvement from a gross loss of approximately HKD 42.4 million in the previous year[14]. - The total loss attributable to equity holders of the company was approximately HKD 25.7 million, a decrease from approximately HKD 68.3 million for the year ended March 31, 2019, mainly due to reasons discussed in the business review and outlook section[20]. - Basic and diluted loss per share improved to HKD 2.15 from HKD 5.97, showing a decrease in loss per share by 64.0%[191]. - Total revenue for the year ended March 31, 2020, was HKD 213,121,000, a decrease from HKD 400,056,000 in the previous year, representing a decline of 46.8%[191]. - The gross profit for the year was HKD 16,033,000, compared to a gross loss of HKD 42,388,000 in the previous year, indicating a significant improvement[191]. - The net loss attributable to equity holders for the year was HKD 25,746,000, down from HKD 68,283,000 in the previous year, reflecting a reduction in losses by 62.2%[191]. Project and Contract Management - The company secured 10 new contracts during the period, with a total original contract value of approximately HKD 345.6 million, while completing 12 projects with an original contract value of approximately HKD 635.2 million[12]. - As of March 31, 2020, the company had 30 projects on hand, including ongoing and awarded but not yet started projects, with a total original contract value of approximately HKD 969.9 million[12]. - For the year ended March 31, 2020, the group recognized construction contract revenue and costs of approximately HKD 213,121,000 and HKD 197,088,000 respectively[172]. - As of March 31, 2020, the group recorded contract assets and liabilities of HKD 109,159,000 and HKD 2,717,000 respectively[172]. Financial Position and Liquidity - As of March 31, 2020, the group had total cash and cash equivalents of approximately HKD 7.4 million, down from approximately HKD 23.8 million as of March 31, 2019, primarily due to operating expenses[22]. - The group's debt-to-equity ratio was approximately 59.2% as of March 31, 2020, compared to approximately 32.7% as of March 31, 2019, mainly due to increased bank borrowings for working capital[22]. - The company's equity attributable to equity holders decreased to HKD 77,180,000 from HKD 102,926,000, a decline of 25.0%[194]. - Total assets as of March 31, 2020, were HKD 103,180,000, a decrease from HKD 108,925,000 in the previous year, representing a decline of 5.3%[194]. - Total liabilities decreased to HKD 26,000,000 from HKD 32,000,000, indicating a reduction of 18.8%[194]. Cost Management and Expenses - Administrative expenses for the period amounted to approximately HKD 24.5 million, a decrease of about HKD 4.3 million or 14.8% compared to approximately HKD 28.8 million in the previous year[17]. - The total employee cost, including director remuneration, was approximately HKD 65.3 million, down from approximately HKD 101.9 million for the year ended March 31, 2019[38]. - The group's financing costs reached approximately HKD 2.0 million, an increase of about HKD 0.9 million or 78.3% compared to approximately HKD 1.1 million for the year ended March 31, 2019, primarily due to increased bank borrowings for working capital[19]. Strategic Outlook and Industry Position - The company remains optimistic about the construction industry in Hong Kong, focusing on business expansion and creating greater value for shareholders[8]. - The company plans to implement appropriate actions to improve future financial performance and will focus on cost control[11]. - The impact of COVID-19 has caused delays in project timelines and increased costs due to extended labor requirements[11]. - The company acknowledges the ongoing search for new land by the Hong Kong government for residential and commercial development projects[8]. Governance and Compliance - The company has adhered to all applicable corporate governance codes since its listing, with minor deviations noted in the corporate governance report[101]. - The company has established three committees: the audit committee, nomination committee, and remuneration committee, to enhance governance practices[130]. - 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[123]. - All independent non-executive directors have confirmed their independence according to the listing rules, ensuring compliance with governance standards[125]. Risk Management and Internal Controls - 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 to enhance internal controls[151]. - The assessment of expected credit losses involves significant management judgment and estimation, which has been identified as a key audit matter[176]. - The directors are responsible for assessing the group's ability to continue as a going concern and disclosing relevant matters[180]. Sustainability and Community Engagement - The company is committed to sustainability by using energy-efficient and environmentally friendly materials in its construction projects[103]. - The group is committed to sustainable development and has implemented policies to minimize the environmental impact of its business activities[163]. - The company is actively involved in community activities and aims to reduce its environmental impact through various initiatives[103].
俊裕地基(01757) - 2020 - 年度财报