鹰美(02368) - 2019 - 年度财报

Financial Performance - The company reported a revenue of HKD 2,701 million for the fiscal year ending March 31, 2019, representing a growth rate of 28% compared to HKD 2,109 million in the previous year[6]. - The profit attributable to the owners of the company decreased to HKD 140 million, down from HKD 230 million in the previous year, indicating a decline of approximately 39%[6]. - The company’s basic earnings per share decreased to HKD 27.7 cents from HKD 46.0 cents year-on-year[6]. - The company's total sales reached HKD 2,700,800,000, representing a significant increase of 28.0% or HKD 591,400,000 compared to last year's sales of HKD 2,109,400,000[19]. - Gross profit slightly increased by 2.9% to HKD 417,800,000, while the gross margin decreased from 19.2% to 15.5%, a drop of 3.7%[19]. - The company's profit before tax decreased by 33.2% to HKD 182,700,000, with a profit margin of 6.8%, down from 13.0%[19]. - The company’s net profit attributable to shareholders was HKD 140,400,000, a decrease of 39.0% from HKD 230,000,000 last year, resulting in a net profit margin of 5.2%[24]. - The company reported a profit for the year of HKD 138,148,000, a decrease of 40% compared to HKD 230,012,000 in 2018[47]. - The profit before tax for the year was HKD 182,675,000, down 33% from HKD 273,666,000 in the previous year[47]. Assets and Liabilities - The company’s total assets increased to HKD 2,434 million from HKD 1,771 million, reflecting a growth of about 37%[6]. - The average bank loan amount increased significantly to HKD 818,800,000, up from HKD 627,100,000 last year, with interest expenses rising by HKD 8,300,000 or 217.5%[22]. - Cash and bank deposits as of March 31, 2019, were HKD 193,800,000, down from HKD 222,900,000 the previous year[25]. - The company’s net current assets decreased to HKD 171,563,000 from HKD 429,194,000 in 2018[48]. - The company's capital debt ratio as of March 31, 2019, was 28.6%, compared to not applicable in the previous year[26]. - The company reported a decrease in inventories of HKD 37,070,000 in 2019, compared to an increase of HKD 85,333,000 in 2018[123]. Acquisitions and Investments - The company completed acquisitions of production bases in Vietnam and Hubei, China, which are expected to enhance production capacity and efficiency[11][13]. - The acquisition of production bases in Vietnam and Hubei contributed an additional HKD 360,600,000 in sales, addressing labor cost challenges in Guangdong[20]. - The company completed the acquisition in Vietnam for a total consideration of $31.6 million (equivalent to HKD 248.2 million) on June 1, 2018[28]. - The acquisition in Hubei was finalized on January 22, 2019, with a total consideration of RMB 197.8 million (equivalent to HKD 224.2 million)[31]. - The company has capital commitments of HKD 12.2 million for Hubei production base renovations and HKD 4.7 million for Vietnam production base renovations as of March 31, 2019[32]. Operational Efficiency - The company is focusing on automation and has implemented smart automated machinery across its factories to improve overall production efficiency[14]. - The company plans to leverage big data analysis and advanced production equipment to enhance its research and development capabilities[14]. - The management aims to shorten the adjustment period post-acquisition and improve overall production efficiency to create sustainable core competitiveness[11]. - The company invested in advanced machinery to improve production efficiency, although this increased depreciation costs[21]. Corporate Governance - The company emphasizes high levels of corporate governance, transparency, accountability, and independence[80]. - The independent non-executive directors confirmed that the related party transactions were conducted in the normal course of business and on normal commercial terms[75]. - The company has adopted a standard code of conduct for securities trading by directors, confirming compliance throughout the year[85]. - The board of directors confirmed their responsibility for preparing financial statements that reflect the true and fair view of the group's condition, with no known significant uncertainties affecting the group's ability to continue as a going concern[98]. - The company has established a risk management system to identify, assess, and manage risks associated with its business and operations[99]. Shareholder Information - The company plans to declare a final dividend of HKD 0.06 per share, with a total payout ratio of 72.6%[24]. - The company proposed a final dividend of HKD 0.06 per share, following an interim dividend of HKD 0.14 per share paid in December 2018[46]. - The company has confirmed that at least 25% of its issued shares are held by the public as of the report date[67]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting by submitting a written request to the board[104]. - The company aims to balance shareholder expectations with sufficient capital retention for business development and operations[105]. Environmental and Social Responsibility - The company has established a comprehensive environmental protection policy to comply with applicable environmental laws in Hong Kong, mainland China, Indonesia, and Vietnam[77]. - The company continues to monitor its foreign exchange risks and will use appropriate tools to manage and mitigate these risks[27]. Financial Reporting and Compliance - The Group's financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and are presented in Hong Kong dollars (HK$) rounded to the nearest thousand[2][139]. - The audit opinion confirms that the consolidated financial statements reflect the group's financial position and performance accurately as of March 31, 2019[107]. - The Group adopted several new and revised standards for the current year's financial statements, including HKFRS 9 for Financial Instruments and HKFRS 15 for Revenue from Contracts with Customers[2][142]. - The Group plans to adopt HKFRS 16 from April 1, 2019, which replaces HKAS 17 and requires lessees to recognize assets and liabilities for most leases[153].