Financial Performance - The Group recorded an increase in revenue from vessel chartering services, driven by demand from major marine construction projects[7]. - The Group's total revenue increased by approximately 11.7%, from approximately HK$202,418,000 for the year ended 31 March 2020 to approximately HK$226,194,000 for the year ended 31 March 2021[16]. - Revenue from vessel chartering and related services rose by approximately 13.4%, from approximately HK$177,194,000 to approximately HK$200,850,000, primarily due to major marine construction projects[19]. - Gross profit increased by approximately 16.7%, from approximately HK$51,608,000 to approximately HK$60,242,000, with stable gross profit margins[22]. - Other income surged by approximately 464.2%, from approximately HK$1,904,000 to approximately HK$10,743,000, mainly due to government grants related to COVID-19[23]. - The Group's profit attributable to owners increased by approximately 157.9%, from approximately HK$9,700,000 for the year ended 31 March 2020 to approximately HK$25,020,000 for the year ended 31 March 2021[34]. - Basic earnings per share attributable to owners increased from approximately HK0.97 cent for the year ended 31 March 2020 to approximately HK2.50 cents for the year ended 31 March 2021[34]. Operational Strategy - The Group aims to continue developing new customer sources for vessel chartering services to meet increasing demand[7]. - The Group's efforts in expanding its fleet are aimed at satisfying future demand for vessel chartering services[7]. - The Group is focused on maintaining its leading position in the industry while exploring new project opportunities[7]. - The Group plans to continue investing in its vessel fleet to capture emerging business opportunities in marine construction[17]. Corporate Governance - The Company is committed to high corporate governance standards, adopting the principles of the Corporate Governance Code as a framework[58]. - The independent non-executive directors provide independent judgment on the group's strategy, performance, resources, and conduct standards, contributing to corporate governance[51]. - The Company has maintained a robust corporate governance framework, ensuring compliance with relevant regulations and guidelines[60]. - The Board of Directors is responsible for major policy matters, strategies, budgets, internal control, risk management, and significant operational matters of the Company[73]. - The Company encourages Directors to participate in continuous professional development to keep their knowledge and skills updated[75]. Risk Management - The Company has developed a risk management process to identify, evaluate, and manage significant risks, with senior management responsible for the annual risk reporting process[99]. - Risks are evaluated based on the severity of their impact on the Company's financial results and the probability of occurrence[99]. - The Group continues to review the need for an internal audit function annually, assessing its effectiveness through the Audit Committee[92]. Environmental, Social, and Governance (ESG) Initiatives - The Group is committed to environmental sustainability and adheres to all relevant local laws and regulations regarding environmental protection and pollution control[128]. - The Group's Board is fully responsible for the ESG strategy and reporting, ensuring close monitoring of daily operations and ESG performance[125]. - The Group integrates sustainability considerations into its decision-making processes to minimize business, environmental, and social risks[125]. - The Group's commitment to ESG is reflected in its proactive approach to stakeholder feedback and continuous improvement[124]. Employee Management - The Group had a total of 208 employees as of March 31, 2021, all of whom were full-time employees from Hong Kong[166]. - The overall employee turnover rate was 16%, a reduction of 15 percentage points compared to the last Reporting Period[181]. - The Group emphasizes a competitive compensation and benefits package, including annual leave, sick leave, and mandatory provident fund[178]. - The Group conducts exit interviews to understand reasons for employee turnover and address concerns of existing employees[182]. Safety and Compliance - Regular safety training is conducted for crew members, including fire safety and sea rescue simulator training[199]. - The Group has established in-house emergency procedures and fire precautions on vessels[198]. - No non-compliance with relevant laws and regulations affecting employee safety and occupational health was identified during the reporting period[192].
润利海事(02682) - 2021 - 年度财报