Financial Performance - The company reported revenue of approximately HKD 197.6 million for the year ended April 30, 2021, an increase of about HKD 44.7 million or 29.3% compared to approximately HKD 152.9 million for the year ended April 30, 2020[21]. - Profit attributable to the owners of the company was approximately HKD 4.9 million, a significant increase of approximately HKD 25.6 million or 123.7% from a loss of approximately HKD 20.7 million for the previous year[11]. - Installation services revenue increased to approximately HKD 175.4 million, while maintenance services revenue rose to approximately HKD 22.1 million[21]. - Revenue from installation services increased by approximately 32.0% from about HKD 132.9 million for the year ended April 30, 2020, to about HKD 175.4 million for the year ended April 30, 2021[22]. - Revenue from maintenance services rose by approximately 12.2% from about HKD 19.7 million to about HKD 22.1 million during the same period[23]. - Total revenue for the year ended April 30, 2021, was approximately HKD 197.6 million, a growth from about HKD 152.9 million in the previous year, representing an increase of about 29.3%[24]. - Gross profit increased by approximately 180.6% from about HKD 9.8 million to about HKD 27.5 million, with a gross margin rising to 13.9%[28]. - Other income for the year ended April 30, 2021, was approximately HKD 3.8 million, significantly up from about HKD 0.49 million in the previous year[29]. - Administrative expenses decreased by approximately 16.9% from about HKD 18.3 million to about HKD 15.2 million[33]. - The company recorded a net profit attributable to owners of approximately HKD 4.9 million for the year ended April 30, 2021[37]. Business Strategy and Expansion - The company aims to expand its business in the public sector and provide advanced fire safety systems for private buildings[12]. - The company plans to streamline the installation process of fire safety devices and enhance project planning, management, and execution standards[12]. - The company is actively seeking strategic and financial partners to explore potential opportunities for expansion into overseas markets[12]. - The company continues to enhance its investor and shareholder base to support its business and expansion plans[17]. - The company remains optimistic about the prospects of the fire safety services industry, leveraging its experienced management team and decades of project experience[14]. Corporate Governance - The board of directors consists of six members, including two executive directors and three independent non-executive directors, ensuring diverse expertise and oversight of the company's operations[88]. - The company held five board meetings during the fiscal year ending April 30, 2021, with all directors attending 100% of the meetings[91]. - The company is committed to good corporate governance practices, focusing on risk management, internal controls, and accountability to shareholders[86]. - The board has adopted the standard code of conduct for securities transactions, ensuring compliance with applicable regulations[87]. - The company has complied with all applicable provisions of the corporate governance code as of the report date, except for the separation of the roles of chairman and CEO[86]. - The board is responsible for major decision-making, including approving policies, business plans, and risk management strategies[88]. - The company emphasizes the importance of effective corporate governance as a foundation for creating shareholder value[86]. - The board regularly reviews the company's financial and operational performance to ensure alignment with strategic goals[94]. - The company has established a corporate governance function to review policies and ensure compliance with legal and regulatory requirements[95]. - All non-executive directors are subject to re-election at least every three years, promoting accountability and shareholder engagement[92]. - The company’s Chairman and CEO roles are held by the same individual, which the board deems appropriate for effective management and strategic planning[100]. - The company’s Nomination Committee is responsible for reviewing the board's composition and ensuring diversity in skills and experience[111]. - The company has established a training program for all directors to enhance their knowledge and skills, with participation in external courses[98]. - The Audit Committee is composed of three independent non-executive directors and one non-executive director, ensuring oversight of financial reporting and risk management[104]. - The company has adopted a nomination policy to enhance board diversity and efficiency[112]. - The company’s independent non-executive directors provide independent opinions on the group’s strategy and performance, safeguarding the interests of all shareholders[102]. - The company’s Remuneration Committee held two meetings during the year, with all members attending all meetings[108]. - The Risk Management Committee held four meetings during the fiscal year ending April 30, 2021, with all members attending all meetings[121]. - The company has established a comprehensive risk management and internal control system to manage risks associated with achieving its business objectives[127]. - The company secretary has over 15 hours of relevant professional training during the fiscal year ending April 30, 2021, ensuring compliance with corporate governance standards[131]. - The Nomination Committee held one meeting during the fiscal year ending April 30, 2021, with full attendance from all committee members[118]. - The company has adopted a board diversity policy to enhance the diversity of its board members, considering factors such as gender, age, and professional experience[117]. - The company has a policy in place to prevent the misuse of insider information and to manage potential conflicts of interest[128]. - The board is responsible for evaluating and determining the nature and extent of risks the company is willing to take to achieve its strategic objectives[127]. - The company has a structured process for identifying potential candidates for the board, ensuring a diverse and qualified selection[116]. - The company has committed to regular reviews of its nomination policy to ensure its effectiveness in maintaining board diversity[117]. Environmental and Social Responsibility - The total greenhouse gas (GHG) emissions from the company's Hong Kong office amounted to 19,308 kg in 2021, an increase from 18,902 kg in 2020[148]. - The total electricity purchased by the Hong Kong office was 30,647 kWh in 2021, compared to 30,003 kWh in 2020[148]. - The per employee GHG emissions decreased to 358 kg in 2021 from 378 kg in 2020, with 54 employees reported in 2021[148]. - The total paper usage for administrative purposes was 1.2849 tons in 2021, up from 1.011 tons in 2020, resulting in an increase in per employee paper usage from 20.2 kg to 26.2 kg[150]. - The company has established an environmental management system certified by ISO 14001:2015 to enhance environmental awareness and prevent pollution[144]. - The company promotes a paperless environment by implementing electronic communications and encouraging the use of recycled paper[152]. - The company emphasizes water conservation, with most water usage for basic cleaning and hygiene, and encourages employees to save water[153]. - The company has not reported any significant non-compliance cases related to health and safety as of April 30, 2021[159]. - The company adheres to strict labor standards, with no reported cases of child or forced labor as of April 30, 2021[163]. - The company has established a list of approved suppliers and subcontractors to ensure quality and compliance with ISO9001:2015 standards[164]. - The company has implemented internal guidelines to ensure employee health and safety, complying with OHSAS18001 and ISO45001:2018 standards[158]. - The company actively seeks opportunities to contribute to the community and improve the local living environment[170]. - The company has not received any complaints regarding non-compliance with anti-corruption laws as of April 30, 2021[169]. - The company provides ongoing training for employees to enhance their skills and meet corporate goals[162]. Operational Risks and Client Relationships - The company relies on non-recurring revenue sources, and a significant decline in project numbers could adversely affect its operational and financial performance[177]. - Approximately 47% of trade receivables from major clients have been settled as of April 30, 2021, with credit terms ranging from 30 to 60 days[181]. - The company has maintained a close and stable relationship with major clients, with no significant disputes reported during the fiscal year ending April 30, 2021[186]. - About 98% of trade payables to major suppliers have been settled as of the report date, with credit terms typically between 30 to 60 days[187]. - The company has not faced any significant disputes with major suppliers and subcontractors as of April 30, 2021[190]. - The company emphasizes the importance of employee retention and training, providing attractive compensation packages and continuous education programs[191]. - The company has not declared any final or interim dividends for the fiscal year ending April 30, 2021[193][194]. - The company aims to strengthen its market position in the fire safety industry in Hong Kong, actively participating in both public and private sector projects[184]. - The company faces risks related to reliance on suppliers and subcontractors, as well as potential labor shortages and legal disputes[182]. - The company has established a list of approved suppliers and subcontractors to ensure quality materials and services, with evaluations based on various criteria[187]. - The top five customers accounted for approximately 52.1% of total revenue, with the largest customer representing about 29.1% of total revenue[197]. - The top five suppliers and subcontractors contributed approximately 45% and 61% to the total service costs for the year, respectively[197]. - As of April 30, 2021, the company had distributable reserves of approximately HKD 46.1 million, which includes accumulated losses of about HKD 12.6 million and share premium of approximately HKD 58.6 million[200].
鸿盛昌资源(01850) - 2021 - 年度财报