Financial Performance - The Group's total revenue increased by approximately 7.1% from HK$317.6 million last year to HK$340.0 million this year[10]. - The property management segment generated revenue of HK$288.0 million for the year ended 31 March 2020, up from HK$234.1 million for the year ended 31 March 2019[33]. - The Group turned a profit before taxation of HK$29.2 million this year, compared to a loss of HK$2.7 million last year[12]. - The Group reported a profit of approximately HK$13.2 million for the year ended 31 March 2020, a turnaround from a loss of approximately HK$9.6 million for the previous year, primarily due to an increase in revenue of HK$22.4 million and a gain on disposal of a subsidiary of HK$5.0 million[51][53]. - The Group recorded revenue of approximately HK$340.0 million for the year ended 31 March 2020, representing an increase of approximately 7.1% compared to HK$317.6 million for the year ended 31 March 2019[33]. Project Management - The number of projects managed by the Group expanded from 50 to 64, with contracted GFA increasing from 5.92 million sq.m. to 7.19 million sq.m.[11]. - The Group managed a total gross floor area of approximately 7.19 million square meters across 64 projects as of 31 March 2020[32]. - The number of property management projects managed by the Group increased from 50 to 64 during the reporting period[33]. - The property management segment achieved double-digit growth in the past year, with a focus on maintaining service quality and enhancing reputation[81]. Cost Management - Staff costs increased by approximately 8.2% or HK$11.8 million to approximately HK$156.1 million for the year ended 31 March 2020[40]. - Property rentals and related expenses decreased by approximately 65.4% or HK$17.8 million to approximately HK$9.4 million for the year ended 31 March 2020[41]. - Advertising and marketing expenses decreased by approximately 60.7% or HK$6.5 million to approximately HK$4.2 million for the year ended 31 March 2020[42]. - Utilities expenses and repair and maintenance expenses increased by approximately HK$5.0 million or 20.5% for the year ended 31 March 2020[43]. Strategic Initiatives - The Group plans to improve service quality and explore monetization of new services such as online DJ streaming[21]. - Future strategies include consolidating products and services under the lifestyle entertainment segment to enhance brand awareness[22]. - The Group aims to explore new service offerings such as DJ live streaming to enhance profitability in the future[25]. - The Group is open to pursuing investment opportunities in e-commerce and emerging industries to diversify income sources[23]. - The Group plans to explore different business and investment opportunities in areas such as trading, property management, healthcare, and internet information technology, subject to Board approval[65]. - The Group plans to explore various business and investment opportunities in sectors such as trade, property management, healthcare, and emerging industries to expand revenue streams[67]. Corporate Governance - The company has a strong board composition with four executive directors and three independent non-executive directors, ensuring a strong independent element that effectively exercises independent judgment[105]. - The company has complied with all applicable code provisions as set out in the Corporate Governance Code for the year ended March 31, 2020[102]. - The board has delegated its powers to management for daily operations, while providing leadership and strategic decisions[104]. - The company recognizes the importance of corporate transparency and accountability, committing to high standards of corporate governance[101]. - The independent non-executive directors represent more than one-third of the board, fulfilling the requirements of the Listing Rules[105]. - The company has adopted The Model Code for Securities Transactions by Directors, ensuring compliance throughout the year ended March 31, 2020[103]. - The board includes members with appropriate professional accounting qualifications and financial management expertise[105]. - The company aims to improve its corporate image through effective corporate governance procedures[101]. - The board believes that its governance practices lead to better results for the group[101]. - The company has maintained a strong governance framework to enhance performance and accountability[101]. Risk Management - The Group's risk management framework, established in 2016, follows the COSO Enterprise Risk Management — Integrated Framework, allowing effective risk management by the Board and management[192][195]. - The Audit Committee conducted an annual review of the effectiveness of the Group's risk management and internal control systems, ensuring adequate resources and staff qualifications[184][190]. - The Group maintains a risk register that tracks all identified major risks, updated at least annually, to ensure proactive risk management[197]. - Management is committed to integrating risk management into daily business operations to align with corporate goals effectively[198]. - The Group will continue to engage external independent professionals for annual reviews of its internal controls and risk management systems[199]. - There is currently no internal audit function within the Group; external professionals are appointed for this purpose due to cost-effectiveness considerations[200]. - Improvements in internal control and risk management measures recommended by BTCG were adopted by the Board to enhance the Group's systems[190]. - The Board considers the internal control and risk management systems effective and adequate based on findings from independent reviews and Audit Committee comments[190]. - The Group's risk management activities are ongoing, with effectiveness evaluated at least annually through periodic management meetings[198]. Employment and Workforce - The Group employed approximately 1,304 employees as of March 31, 2020, an increase from 1,205 employees as of March 31, 2019[71]. Economic Outlook - The Group expects a prolonged recovery for the overall economic conditions in Hong Kong due to the COVID-19 outbreak, impacting the lifestyle entertainment segment[72]. - The lifestyle entertainment segment has been severely affected by COVID-19, but the Group anticipates a rebound in demand as restrictions ease[74]. Dividend Policy - The Board does not recommend the payment of a final dividend for the year ended March 31, 2020, consistent with the previous year[83].
奥克斯国际(02080) - 2020 - 年度财报