Financial Performance - The total revenue for the fiscal year ending March 31, 2020, was approximately HKD 243.5 million, representing an increase of about 20.1% compared to the previous year[10]. - The net profit attributable to the owners of the company was approximately HKD 34.2 million after deducting listing expenses, and approximately HKD 47.8 million before those expenses[10]. - The total revenue for the year ended March 31, 2020, was approximately HKD 243.5 million, an increase from HKD 202.8 million in the previous year, primarily due to the completion of several large projects[20]. - The gross profit for the year ended March 31, 2020, was approximately HKD 71.0 million, up from HKD 61.8 million in the previous year, with a gross profit margin decreasing from 30.5% to 29.1%[24]. - The net profit for the year ended March 31, 2020, was approximately HKD 34.2 million, a decrease from HKD 36.5 million in the previous year, resulting in a net profit margin decline from 18.0% to 14.0%[34]. - Operating and administrative expenses increased by approximately 26.6% to about HKD 13.8 million for the year ended March 31, 2020, compared to HKD 10.9 million in the previous year[30]. - The financing costs for the year ended March 31, 2020, were approximately HKD 1.5 million, an increase of about HKD 1.2 million from HKD 0.3 million in the previous year[31]. - Other income for the year ended March 31, 2020, was approximately HKD 88,000, a significant improvement from a loss of approximately HKD 248,000 in the previous year[26]. - The impairment loss reversal for trade receivables and contract assets increased from approximately HKD 0.7 million in the previous year to about HKD 1.3 million for the year ended March 31, 2020[27]. - The company incurred listing expenses of approximately HKD 13.6 million for the year ended March 31, 2020, compared to HKD 6.0 million in the previous year[32]. Capital and Investments - The company successfully raised approximately HKD 78.2 million from the public offering of 50 million shares at HKD 0.25 per share[9]. - The company plans to use the net proceeds from the share offering to strengthen its capital base and enhance its professional team[11]. - The company raised approximately HKD 78.2 million from the share issuance after deducting underwriting commissions and related expenses[50]. - The company did not engage in any significant investments, acquisitions, or disposals during the reporting period[48]. - The group had 46 full-time employees as of March 31, 2020, an increase from 42 in 2019, primarily due to the rise in project staff[51]. - The company has a total issued share capital of 2,000,000,000 ordinary shares with a par value of HKD 0.01 as of March 31, 2020[102]. - The company issued 500 million new shares at a price of HKD 0.25 per share on April 15, 2020, as part of its listing on the Hong Kong Stock Exchange[52]. Projects and Business Outlook - As of March 31, 2020, the company had 23 ongoing projects with a total original contract value of approximately HKD 670.2 million[13]. - The company secured 15 new projects during the fiscal year, with a total contract value of approximately HKD 263.5 million[13]. - The company is optimistic about future growth, driven by increasing demand in the external wall and building metal finishing engineering sectors[14]. - The company intends to explore potential business opportunities in other segments of the construction value chain[10]. Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.005 per share, subject to approval at the upcoming annual general meeting[10]. - The company reported a final dividend of HKD 10 million for the year ended March 31, 2020, equivalent to HKD 0.05 per share, compared to no dividend in 2019[92]. - The company has not received any waivers from shareholders regarding dividend arrangements[93]. - The annual general meeting is scheduled for September 11, 2020, with a notice to be published on the company's website[94]. Corporate Governance - The board of directors consists of experienced professionals with extensive backgrounds in finance and management[81][82][69]. - The company has established a remuneration committee to review the remuneration policy and structure for all directors and senior management based on performance and market practices[152]. - The audit committee, consisting of three independent non-executive directors, was established to oversee financial reporting and internal controls, with the financial statements for the year ended March 31, 2020, reviewed on June 29, 2020[158]. - The company has complied with the corporate governance code since its listing date, ensuring transparency and accountability[162]. - The company has confirmed the independence of its non-executive directors according to listing rules[110]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced skill set and experience relevant to the company's business needs[164]. - The company adopted a board diversity policy on March 5, 2020, aiming to achieve a balanced mix of skills, experience, and perspectives among board members[175]. - The company has established a dividend policy on March 5, 2020, aiming to balance sufficient capital for business development and rewarding shareholders[184]. Risk Management - The company faces significant operational risks due to reliance on a few major clients, which could adversely affect financial performance if new project orders are not secured[99]. - The company believes its business model is sustainable despite customer concentration risks[129]. - The company has no significant foreign exchange risk as of March 31, 2020, and has not entered into any derivative agreements for hedging[43]. Employee and Compensation - The total employee costs for the year ended March 31, 2020, amounted to approximately HKD 23.8 million, up from HKD 19.5 million in 2019[51]. - The company has established a comprehensive compensation package to attract and retain skilled employees, including salaries, discretionary bonuses, and other cash incentives[126]. - The company adopted a stock option plan on March 5, 2020, aimed at incentivizing employees and retaining top talent, with a total number of shares available for issuance under the plan capped at 200,000,000 shares, representing 10% of the company's issued share capital[142]. - No stock option grants have been made under the stock option plan since its adoption, and no options have been exercised, canceled, or lapsed during the reporting period[143]. Environmental and Social Responsibility - The company made a charitable donation of HKD 500,000 to the Hong Kong Community Chest for the year ended March 31, 2020[123]. - The company has implemented measures to mitigate environmental impacts, including compliance with relevant environmental regulations[133]. - There were no significant costs incurred related to environmental compliance for the year ended March 31, 2020[133].
智中国际(06063) - 2020 - 年度财报