Financial Performance - The company recorded a net profit of approximately HKD 652,000 for the year ended March 31, 2021, compared to a net loss of approximately HKD 25,746,000 in the previous period, primarily due to effective measures taken to mitigate the impact of COVID-19 [7]. - Revenue from foundation engineering services reached approximately HKD 446.8 million, an increase of approximately HKD 233.7 million or 109.7% compared to HKD 213.1 million for the year ended March 31, 2020 [13]. - The gross profit for the period was approximately HKD 8.9 million, a decrease of approximately HKD 7.2 million or 44.8% compared to HKD 16.0 million for the year ended March 31, 2020, mainly due to significant losses from certain project changes [14]. - The group recorded a profit attributable to equity holders of approximately HKD 0.7 million, an improvement from a loss of approximately HKD 25.7 million for the year ended March 31, 2020 [21]. - The total revenue for the year ended March 31, 2021, was HKD 446,846,000, compared to HKD 213,121,000 for the previous year, representing a significant increase of 109.5% [180]. - The gross profit for the year was HKD 8,856,000, while the previous year's gross profit was HKD 16,033,000, indicating a decrease of 44.2% [180]. - The company reported a basic and diluted earnings per share of HKD 0.05, recovering from a loss per share of HKD 2.15 in the previous year [180]. Project and Contract Management - The company had a total of 17 projects on hand as of March 31, 2021, with an original contract value of approximately HKD 1.3 billion [12]. - The company secured 6 new contracts during the reporting period, with an original contract value of approximately HKD 470.5 million [11]. - The company had approximately HKD 631.5 million in unrecognized contract amounts as of March 31, 2021, indicating a strong pipeline for future revenue [10]. Expenses and Costs - Administrative expenses decreased to approximately HKD 21.6 million, down by approximately HKD 2.9 million or 11.7% from HKD 24.5 million in the previous year, primarily due to reduced legal and professional fees [18]. - The financing cost for the group during the period reached approximately HKD 1.9 million, a decrease of about HKD 0.1 million or 5.4% compared to approximately HKD 2.0 million for the year ended March 31, 2020 [20]. - The total employee cost for the group was approximately HKD 73.0 million, an increase from approximately HKD 65.3 million in 2020, with a total of 149 employees as of March 31, 2021 [39]. Cash Flow and Financial Position - As of March 31, 2021, the group had total cash and cash equivalents of approximately HKD 6.0 million, remaining stable compared to approximately HKD 5.9 million in 2020 [22]. - The cash and bank balances as of March 31, 2021, were HKD 8,527,000, compared to HKD 7,357,000 in the previous year, showing an increase of 15.9% [184]. - The year-end cash and cash equivalents stood at HKD 5,966 thousand, up from HKD 5,857 thousand at the beginning of the year, despite significant fluctuations during the year [191]. - The company reported a return of HKD 2,224 thousand in income tax, compared to a payment of HKD 556 thousand in the previous year, reflecting a change in tax obligations [191]. Corporate Governance - The board of directors includes both executive and independent non-executive members, with some directors eligible for re-election at the annual general meeting [61]. - The company has established three committees: Audit Committee, Nomination Committee, and Remuneration Committee, to enhance governance [126]. - The company has adopted the corporate governance code as per the listing rules, with a commitment to transparency and accountability [114]. - The company has confirmed that all directors have complied with the standard code regarding securities transactions during the reporting period [116]. - The company aims to adhere to the corporate governance code and will disclose any deviations in its interim and annual reports [115]. Sustainability and Community Engagement - The group is committed to sustainability, focusing on reducing environmental impacts through operational efficiency and eco-friendly measures [95]. - The company has engaged two qualified safety officers to monitor the work environment and implement safety regulations [89]. - The group actively participates in community activities and contributes to social welfare [95]. Shareholder Relations - The company emphasizes the importance of maintaining good communication with shareholders and has established several channels for transparency [146]. - Eligible shareholders can request a special general meeting if they hold at least 10% of the paid-up capital [148]. - The company has established procedures for shareholders to submit written questions to the board at its main business location [149]. 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 [143]. - The audit identified the assessment of expected credit losses for trade and other receivables and contract assets as a key audit matter due to the significant management judgment involved [165]. Future Outlook - The company remains cautiously optimistic about its future financial performance and aims to expand profitability [10]. - The company has indicated plans for market expansion and new product development in the upcoming fiscal year [180].
俊裕地基(01757) - 2021 - 年度财报