Financial Performance - The company reported a revenue of approximately HKD 210.7 million for the year ended March 31, 2021, a decrease of about HKD 72.4 million or 25.6% compared to HKD 283.1 million for the previous year[11]. - The net loss for the year was approximately HKD 12.3 million, an increase of about HKD 10.2 million from a net loss of HKD 2.1 million in the previous year[7]. - The gross profit margin declined due to additional service costs arising from changes in construction orders for completed projects, resulting in a gross loss for the year[7]. - The group recorded a gross profit of approximately HKD 3.1 million, down about HKD 17.0 million or approximately 84.6% from approximately HKD 20.1 million for the previous year, resulting in a gross margin of approximately 1.5% compared to 7.1%[16]. - Other income, gains, and losses increased to approximately HKD 3.4 million, up about HKD 1.6 million or 93.9% from approximately HKD 1.8 million in the previous year, primarily due to government subsidies related to COVID-19[17]. - The group reported a loss attributable to owners of the company of approximately HKD 12.3 million, an increase of about HKD 10.2 million compared to approximately HKD 2.1 million for the fiscal year ended March 31, 2020[20]. - The group did not recommend any dividend for the year ended March 31, 2021, compared to a dividend of HKD 0.01 per share in 2020[45]. Revenue Sources and Contracts - The company secured several large-scale building contracts expected to contribute to revenue in the second half of 2021[9]. - The company had six upper structure construction projects contributing approximately HKD 210.2 million in revenue, down from HKD 260.4 million from five projects in the previous year[12]. - The decrease in revenue was primarily due to reductions in upper structure construction and renovation, maintenance, and alteration projects, which decreased by approximately HKD 50.2 million and HKD 22.2 million, respectively[11]. Business Outlook and Strategy - The company maintains a cautiously optimistic outlook for future business and competitiveness despite the uncertain economic environment[9]. - The company is exploring potential business development and investment opportunities in other construction sectors to diversify risk and expand profit bases for shareholders[9]. - The board remains cautiously optimistic about the future, expecting a gradual recovery in the Hong Kong economy and construction industry as the post-pandemic economic recovery strengthens[14]. - The group plans to continue monitoring the pandemic situation and its impact on its construction and renovation business while enhancing customer satisfaction to ensure ongoing growth and profitability[14]. Human Resources and Employee Management - The total salary and related costs for the year ended March 31, 2021, were approximately HKD 30.0 million, compared to HKD 29.5 million in 2020[31]. - The company has a total of 66 employees as of March 31, 2021, an increase from 62 employees in the previous year[31]. - The employee turnover rate for the overall workforce is 17% for 2020/2021, up from 11% in 2019/2020, indicating a significant increase in employee attrition[171]. - The company provides a mandatory contribution to the MPF scheme, with employer contributions fully allocated to employees, ensuring compliance with local regulations[170]. - The company offers various employee benefits, including medical insurance and discretionary bonuses, to attract and retain talent[170]. - The company conducts regular performance evaluations to determine salary adjustments, bonuses, and promotions, ensuring a merit-based approach to employee development[165]. Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules for the fiscal year ending March 31, 2021[90]. - The board consists of two executive directors and three independent non-executive directors, ensuring a balance of skills and experience[91]. - The roles of the chairman and CEO are separated to maintain a balance of power and authority within the company[96]. - The company’s governance policies and practices are regularly reviewed to ensure compliance with legal and regulatory requirements[103]. - The company has established a clear framework for the appointment and re-election of directors, ensuring compliance with its articles of association[98]. Risk Management - The board is responsible for evaluating the nature and extent of risks acceptable to achieve strategic goals and ensuring effective risk management systems are in place[114]. - An external independent consulting firm was hired to review the effectiveness of the company's risk management and internal control systems during the year ending March 31, 2021[114]. - The company employs a continuous risk management approach to identify and assess inherent risks affecting its objectives[115]. - The risk matrix categorizes risks into low, medium, and high levels, reflecting the management's focus and required efforts to address them[115]. Environmental, Social, and Governance (ESG) Initiatives - The group has implemented an integrated management system certified to ISO 9001, ISO 14001, and ISO 45001 standards to monitor and manage environmental, social, and governance risks[132]. - The group reported a slight decrease in air pollutant emissions for the 2020/2021 period, attributed to reduced diesel and gasoline consumption[143]. - The company has implemented waste management strategies to minimize environmental impact, including recycling and reusing materials[154]. - The company aims to balance operational needs with minimizing environmental impact through sustainable practices and compliance with relevant regulations[163]. - The company has committed to improving internal data collection processes and gradually expanding the scope of disclosures in its environmental, social, and governance (ESG) reporting[129]. Community Engagement and Social Responsibility - The company donated HKD 14,000 to educational initiatives during the reporting period, supporting organizations that assist students in need[200]. - The company encourages employee volunteerism and strategic donations to positively impact community development[200]. Safety and Health Management - The company has implemented a health and safety management system certified under ISO 45001:2018, demonstrating its commitment to occupational health and safety[174]. - Safety training is emphasized, with various courses provided to enhance safety knowledge among all workers, including basic safety training for all employees[179]. - The company reported zero fatalities during the reporting period, maintaining a death rate of 0.00 per 100,000 working hours[182]. - There were no lost workdays due to injuries, compared to 306 lost workdays in the previous year, resulting in a loss day rate of 0.00 per 100,000 working hours[182].
晋景新能(01783) - 2021 - 年度财报