鹰美(02368) - 2020 - 年度财报

Financial Performance - For the fiscal year ending March 31, 2020, the company reported a revenue of HKD 3,017 million, an increase of 11.7% from HKD 2,701 million in 2019[6]. - The profit attributable to owners of the company was HKD 223 million, representing a 59.3% increase compared to HKD 140 million in the previous year[6]. - Basic earnings per share rose to HKD 0.42, up from HKD 0.28 in 2019, reflecting a growth of 51.8%[6]. - The company's total sales reached HKD 3,017,100,000, an increase of HKD 316,300,000 or 11.7% compared to last year's sales of HKD 2,700,800,000[19]. - Gross profit increased by 28.7% to HKD 537,900,000, with a gross profit margin rising from 15.5% to 17.8%[19]. - The company's pre-tax profit rose by 61.6% to HKD 295,100,000, with the pre-tax profit margin increasing from 6.8% to 9.8%[19]. - The company's profit attributable to owners for the year ended March 31, 2020, was HKD 223.5 million, an increase of HKD 83.1 million (or 59.2%) from HKD 140.4 million in the previous year[23]. - The net profit margin increased from 5.2% to 7.4%, while the operating net profit rose by HKD 38.4 million (or 28.9%) to HKD 171.2 million[23]. - The company reported a significant increase in user data, with a growth rate of 25% year-over-year in active users[40]. - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[40]. Dividends and Shareholder Returns - The interim dividend per share was increased to HKD 0.20 from HKD 0.14, while the final dividend per share rose to HKD 0.09 from HKD 0.06[6]. - The company declared a final dividend of HKD 0.09 per share, compared to HKD 0.06 per share in the previous year, resulting in a total dividend payout ratio of 69.0%[23]. - The company aims to balance shareholder expectations with sufficient capital retention for business development and operations in its dividend policy[126]. Assets and Liabilities - The total assets of the company decreased slightly to HKD 2,374 million from HKD 2,434 million in 2019, a decline of 2.5%[6]. - The company reported interest-bearing bank loans of HKD 531 million, down from HKD 572 million in 2019, a reduction of 7.2%[6]. - The net asset value per share attributable to owners was HKD 2.44, slightly down from HKD 2.45 in the previous year[6]. - As of March 31, 2020, total non-current assets were HKD 1,138,584,000, a decrease from HKD 1,206,960,000 in the previous year[49]. - Current assets stood at HKD 1,235,763,000, slightly up from HKD 1,226,784,000 in the prior year[49]. - The debt-to-equity ratio as of March 31, 2020, was 14.3%, down from 28.6% the previous year[25]. Operational Efficiency and Strategy - The company aims to enhance production efficiency at its newly acquired production bases in Vietnam and Hubei, China, to increase profitability in the competitive sportswear market[9]. - The company plans to increase the proportion of sales in mainland China by implementing a local production strategy to reduce costs and shorten production cycles[9]. - The company has focused on systematizing processes and mechanizing production to adapt to the challenges posed by the global pandemic[9]. - The company plans to optimize processes and enhance operational efficiency in response to anticipated challenges in the retail and manufacturing sectors[14]. - The company has completed several strategic acquisitions, enhancing its product portfolio and operational capabilities[40]. Governance and Compliance - The company is committed to maintaining high standards of corporate governance and compliance, as evidenced by its independent board members[39]. - The board of directors has maintained a high level of corporate governance, emphasizing transparency, accountability, and independence[92]. - The independent non-executive directors have confirmed their independence annually, and the group believes all such directors meet the independence criteria[94]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors throughout the year[98]. - The audit committee conducted three meetings, including two with external auditors, to review the company's annual report and interim reports, ensuring the integrity of financial reporting[106]. Risk Management and Internal Controls - The group has established a risk management and internal control system to reasonably prevent significant misstatements or losses, focusing on environmental, social, and governance-related risks[120]. - The independent professional firm conducted a risk assessment and internal control review, identifying no significant risks or control deficiencies[122]. Financial Reporting and Audit - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local accounting regulations[164]. - The auditor's fees for the year ending March 31, 2020, amounted to HKD 3,873,000, with HKD 3,779,000 for audit services and HKD 94,000 for non-audit services[123]. - The auditor issued an unqualified opinion regarding the related party transactions disclosed by the company[83]. - The company is responsible for preparing financial statements that are true and fair in accordance with Hong Kong Financial Reporting Standards[136]. Subsidiaries and Investments - The company operates in the manufacture and trading of sportswear and garments across its subsidiaries, indicating a focused business strategy[162]. - The company has a total of 8 subsidiaries, all of which are indirectly held by the company, significantly impacting the group's annual performance and net assets[162]. - The company's principal subsidiaries are located in Hong Kong and Mainland China, focusing on the sportswear and garments sector, with a consistent equity percentage of 100% across major subsidiaries[159].