Financial Performance - The company reported a revenue of approximately HKD 733.3 million for the fiscal year ending March 31, 2020, compared to HKD 415.0 million for the previous fiscal year, representing a growth of 76.7%[7] - The company recorded revenue of approximately HKD 733.3 million for the year ended March 31, 2020, a significant increase of 76.7% compared to HKD 414.9 million in the previous year[20] - The cost of revenue for the year was approximately HKD 623.6 million, up 81.9% from HKD 342.8 million in the prior year, resulting in a gross profit of approximately HKD 109.7 million, which is a 52.0% increase[29] - The company’s net profit for the year increased to approximately HKD 53.8 million, up 90% from HKD 28.3 million in the previous year[35] - The outstanding contract amount as of March 31, 2020, decreased to approximately HKD 409.9 million, indicating effective project management and execution[7] - The company has secured new contracts totaling approximately HKD 531.6 million since the end of the fiscal year 2020[19] Project Management and Operations - Major ongoing projects include a steel structure and roofing project at Hong Kong International Airport valued at HKD 266.38 million, expected to be completed by December 2020[17] - The company aims to improve operational efficiency and project execution capabilities to maximize benefits from business expansion[8] - The company confirmed revenue from structural engineering services and material supply and installation during the fiscal year[15] - As of March 31, 2020, the total value of ongoing projects with estimated unfulfilled contracts exceeding HKD 50 million was approximately HKD 409.9 million[19] - The company is currently bidding or awaiting results for 14 large-scale projects with an estimated total contract value exceeding HKD 501 million[19] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with all provisions of the Corporate Governance Code as per the listing rules[68] - The board of directors is responsible for formulating the overall strategy and monitoring the performance of the management team[72] - The company has established an audit committee, remuneration committee, and nomination committee to enhance governance practices[68] - The independent non-executive directors provide independent judgment on the group's strategy, performance, resources, and standards of conduct[60] - The company has a strong governance framework that allows for timely decision-making in a rapidly changing environment[69] - The board is committed to reviewing and enhancing corporate governance practices to meet increasing expectations from shareholders and investors[68] Financial Position - The company’s current ratio as of March 31, 2020, was approximately 2.0, down from 2.2 in the previous year[25] - The total assets of the company increased by 32.3% to approximately HKD 433.9 million as of March 31, 2020, compared to HKD 328.0 million in the previous year[25] - The capital debt ratio improved to 7.7% as of March 31, 2020, down from 13.6% in the previous year, indicating a stronger financial position[42] - As of March 31, 2020, the group had no bank borrowings, compared to approximately HKD 25.4 million as of March 31, 2019[44] - The group maintained a strong liquidity position throughout the year, with no hedging activities undertaken[43] Employee and Workplace - Employee count increased significantly to 193 as of March 31, 2020, up from 93 in the previous year, primarily due to the acquisition of a subsidiary[50] - Total employee benefit expenses for the year amounted to approximately HKD 64.2 million, compared to HKD 46.3 million in the previous fiscal year[50] - The company emphasizes the importance of its employees as the foundation of its success and organizational resilience[136] - Employee headcount in Hong Kong increased to 80 from 65 in 2019, and in Shenzhen, it rose to 113 from 28 in 2019 due to acquisitions and business expansion[138] - The company offers competitive compensation packages based on performance, qualifications, and experience, with a 5% contribution to the MPF retirement plan for all salary levels in Hong Kong[150] Corporate Social Responsibility - The company has established a clear direction and culture for corporate social responsibility, focusing on employee welfare, health and safety, and responsible procurement[120] - The corporate social responsibility strategy is overseen by the board, with daily execution delegated to the environmental, social, and governance working group[125] - The company aims to minimize the impact of significant environmental, social, and governance issues on financial risks through strategic planning[131] - Stakeholder engagement is prioritized to identify and address important environmental, social, and governance issues relevant to the company's operations[129] - The company actively seeks feedback from stakeholders to enhance sustainable value and improve its environmental, social, and governance performance[133] Health and Safety - The company implements OHSAS 18001:2007 occupational health and safety management system to identify and control occupational risks[184] - Regular safety inspections are conducted on construction sites to ensure compliance with safety rules and measures[185] - The company has implemented multiple safety policies and measures in its factories in China, resulting in no serious injury incidents during the reporting year[188] - The company has increased the frequency of cleaning and disinfection services in its offices to mitigate the risk of COVID-19 transmission[191] - The company has installed automatic hand sanitizers and provided masks to employees in the office to reduce the risk of infection[191] Environmental Management - The company is committed to minimizing its operational impact on the environment and integrating environmental factors into its strategic business planning[195] - The company adheres to various environmental regulations in Hong Kong and China, ensuring compliance with laws related to air pollution, noise control, and waste disposal[197][198] - The company has obtained permits from relevant authorities in China, confirming compliance with environmental protection laws regarding noise control and waste management[198] - The company employs an Integrated Management System (IMS) that includes ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and OHSAS 18001:2007 for occupational health and safety[199]
应力控股(02663) - 2020 - 年度财报