Financial Performance - The company's revenue for the fiscal year ended March 31, 2019, was approximately HKD 425.8 million, a decrease of 5.1% from HKD 448.6 million in the previous year[33]. - Profit attributable to the company's owners was approximately HKD 16.8 million, down 27.9% from HKD 23.3 million in the previous year[37]. - The gross profit for the fiscal year was approximately HKD 45.0 million, an increase of 2.3% from HKD 44.0 million in the previous year, with a gross margin of 10.6% compared to 9.8% in the previous year[34]. - Other income increased by 200.0% to approximately HKD 4.5 million, up from HKD 1.5 million in the previous year, mainly due to one-time interest income from public offering subscription funds[35]. - Administrative and other expenses rose by 66.7% to approximately HKD 27.0 million, compared to HKD 16.2 million in the previous year, largely due to one-time listing expenses and increased legal and professional fees[36]. - The company recorded an adjusted net profit of approximately HKD 26.2 million, down 8.4% from HKD 28.6 million in the previous year, excluding non-recurring listing expenses[37]. Project Performance - The company completed 8 upper structure construction projects contributing approximately HKD 285.5 million in revenue, down from HKD 420.7 million from 7 projects in the previous year[31]. - The company undertook 10 renovation, maintenance, and alteration projects, generating approximately HKD 140.3 million in revenue, a significant increase from HKD 27.9 million from 7 projects in the previous year[32]. Future Outlook - The company maintains a cautious optimism regarding future business prospects despite global economic uncertainties, focusing on prudent bidding for new development projects and consolidating human resources[30]. - The company plans to leverage its listing advantages and resources to explore potential business developments in the construction industry[30]. Financial Position - As of March 31, 2019, the group's cash and cash equivalents totaled approximately HKD 75.4 million, an increase from HKD 24.7 million as of March 31, 2018[38]. - The current ratio improved from 1.8 as of March 31, 2018, to 2.7 as of March 31, 2019, due to an increase in cash and bank balances[38]. - The debt-to-asset ratio decreased from 10.3% as of March 31, 2018, to 0% as of March 31, 2019, primarily due to the repayment of bank loans using net proceeds from the listing[38]. - Total capital expenditure for the year ended March 31, 2019, was approximately HKD 2.0 million, mainly for leasing a new office for business expansion[40]. - The net proceeds from the listing amounted to approximately HKD 78.5 million, with HKD 48.2 million utilized by March 31, 2019[45]. Employee Information - As of March 31, 2019, the group employed a total of 59 employees, with total salary and related costs amounting to approximately HKD 24.0 million[43]. - The total number of employees as of March 31, 2019, was 59, with a turnover rate of 31% overall[177]. - The male employee turnover rate was 35%, while the female turnover rate was 19%[177]. - 12% of the total workforce received training during the reporting period, amounting to 320 training hours[186]. - The average training hours per employee were 5.42 hours, with male employees averaging 6.51 hours and female employees averaging 2.50 hours[186]. - 20% of senior management and 50% of middle management received training, indicating a focus on higher-level employee development[187]. Corporate Governance - The board of directors includes six members, with the chairman appointed on July 25, 2018[72]. - The independent non-executive directors confirmed that there were no breaches of the non-competition commitments by the controlling shareholders[77]. - The board consists of three independent non-executive directors, representing more than one-third of the board, with at least one possessing relevant professional qualifications[125]. - The board held a total of 7 meetings, with all directors attending 100% of the meetings[109]. - The Audit Committee, consisting of three independent non-executive directors, was established on August 21, 2018, to oversee financial reporting and internal controls[112]. - The Remuneration Committee reviewed the remuneration policies and monitored the compensation of executive directors and senior management[115]. - The Nomination Committee was formed to evaluate the board's structure and diversity, ensuring alignment with the company's strategic goals[117]. Environmental, Social, and Governance (ESG) Initiatives - The first Environmental, Social, and Governance (ESG) report covers the group's overall performance from April 1, 2018, to March 31, 2019[143]. - The report outlines key performance indicators related to environmental and social aspects, focusing on core and significant business operations in Hong Kong[144]. - The company aims to integrate ESG factors into operations to create sustainable value and manage associated risks through strict internal controls[146]. - The company has implemented an environmental management system certified to ISO 14001:2015 standards, focusing on minimizing adverse environmental impacts from its operations[153]. - The company has committed to improving waste reduction measures and will continue to disclose relevant results in the future[160]. - The company has established a waste management strategy prioritizing waste avoidance, material reuse, and recycling to mitigate environmental impact[160]. Safety and Health - The company adheres to OHSAS 18001:2007 standards for occupational health and safety management systems[178]. - Safety measures include mandatory personal protective equipment for new workers and monthly recognition for top-performing contractors in safety[180]. - The company reported a total of 5 work-related injury cases during the reporting period, resulting in an accident rate of 0.16 per 100,000 working hours[185]. - No fatalities were reported due to work-related incidents, indicating a strong safety performance[199]. - The company has implemented internal control measures, including hiring full-time safety personnel to enhance safety management systems[185]. Community Engagement - Community investment efforts include a donation of HKD 14,000 to the Starry Sky Project and HKD 1,000,000 to the Hong Kong Community Chest, focusing on education and community development[196].
晋景新能(01783) - 2019 - 年度财报