Financial Performance - For the fiscal year ended March 31, 2021, Regina Miracle reported revenue of HK$5,974,290, a decrease of 5.8% from HK$6,341,010 in fiscal 2020[9]. - Gross profit for the year was HK$1,237,953, representing 20.7% of revenue, down from 22.7% in the previous year, which was HK$1,440,731[10]. - EBITDA for fiscal 2021 was HK$820,593, accounting for 13.7% of revenue, compared to HK$969,745 or 15.3% in fiscal 2020, reflecting a decline of 15.4%[10]. - Profit attributable to owners of the Company was HK$125,515, a significant decrease of 56.7% from HK$289,953 in the prior year[10]. - Annual revenue decreased by 5.8% to approximately HK$5,974.3 million, with net profit amounting to approximately HK$125.5 million[13]. - The Group's net profit for the year was approximately HK$125.5 million, resulting in a net profit margin of 2.1%, compared to HK$290.0 million and 4.6% in Fiscal 2020[33]. - The Group's EBITDA was approximately HK$820.6 million, with an EBITDA margin of 13.7%, down from 15.3% in Fiscal 2020[33]. - The Group's net profit decreased from approximately HK$290.0 million in Fiscal 2020 to approximately HK$125.5 million in Fiscal 2021, resulting in a net profit margin decline from 4.6% to 2.1%[65]. Market and Product Development - Regina Miracle continues to focus on innovative design manufacturing (IDM) to enhance its product offerings in intimate wear and functional sports products[3]. - The Company is exploring market expansion opportunities to strengthen its position in the global intimate wear market[3]. - Future outlook includes a commitment to research and development to drive new product innovations and improve operational efficiency[3]. - The Group is focusing on the PRC market, recognizing it as a significant growth driver due to its economic recovery and dual circulation strategy[15]. - The Group is enhancing production efficiency through process improvements and digital upgrades to maximize profit and manage risks[16]. - The Group's innovative design manufacturing capabilities allowed it to capitalize on the growing demand for sports-related products during the Pandemic, leading to sales in the second half of the year surpassing pre-Pandemic levels[30]. - The Group is committed to sustainable development and environmental protection, advocating for green raw materials in the supply chain[18]. - The Group is actively involved in market expansion and product development to strengthen its competitive position[110]. Operational Efficiency and Cost Management - Regina Miracle aims to recover from the revenue decline and improve profitability through cost management and operational improvements[9]. - The Group has streamlined manpower and optimized production processes to enhance efficiency and control costs, creating a flexible production model[31]. - The Group's proactive measures included streamlining production capacity and human resources, resulting in one-off expenses totaling approximately HK$49.7 million[33]. - The Group aims to optimize internal risk control and improve resource deployment in response to rising raw material costs, implementing automation and enhancing production processes[82]. - The Group is optimizing production capacity in Vietnam, including enhancing factory efficiency and adding production lines to meet strong order demand from international brand partners[78]. Dividends and Shareholder Returns - Proposed final dividend of HK3.3 cents per share and a special dividend of HK1.5 cents per share, reflecting a policy of distributing no less than 30% of net profit as dividends[13]. - The Group's reserves available for distribution to shareholders as of March 31, 2021, amounted to approximately HK$1,772.0 million, compared to HK$1,760.6 million in 2020[130]. - The Board has recommended a final dividend of HK3.3 cents per share and a special dividend of HK1.5 cents per share for the year ended March 31, 2021[116]. Strategic Partnerships and Acquisitions - The Company is actively considering strategic partnerships and potential acquisitions to enhance its market presence and product portfolio[3]. - The company has completed a strategic acquisition of a local competitor, enhancing its production capacity by 30%[96]. - The Group has begun developing new brand partners and marketing channels, particularly in e-commerce, to adapt to the rise of domestic brands in China[21]. Sustainability Initiatives - The Group is committed to sustainable development, installing solar panels in its factories and promoting eco-friendly raw materials in collaboration with strategic suppliers[85]. - The management team emphasizes a focus on sustainability, aiming to reduce production waste by 25% over the next three years[92]. - The company aims to develop and manufacture more eco-friendly products in collaboration with strategic suppliers, enriching its product portfolio and creating demand[87]. Management and Governance - The management team expressed gratitude for the support from brand partners and suppliers, emphasizing the Group's strong growth momentum and commitment to long-term sustainable value for shareholders[26]. - The Board comprises five executive directors and three independent non-executive directors, ensuring a strong independence element in its composition[186]. - The roles of Chairman and Chief Executive Officer are held by Mr. Hung Yau Lit, which the Board believes enhances responsiveness and efficiency in business strategy formulation[186]. - The Company has ensured that at least one independent non-executive Director possesses appropriate professional qualifications in accounting or financial management[195]. Future Outlook - Future outlook indicates a projected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[93]. - Management is confident that the growth momentum will continue into Fiscal 2022, driven by strong partnerships with international brands and recovery from the Pandemic[72]. - The Group anticipates a significant decrease in demand for pandemic prevention products as vaccine rollouts progress, while orders for bras and sports bras have resumed growth, indicating a positive outlook for core businesses[76].
维珍妮(02199) - 2021 - 年度财报