Financial Performance - The company recorded revenue of approximately HKD 63,724,000 for the year ended March 31, 2021, a decrease of 35% compared to HKD 98,073,000 in the previous fiscal year[20]. - The gross profit for the same period was approximately HKD 57,332,000[15]. - The loss attributable to owners of the company increased to approximately HKD 61,928,000 from HKD 60,485,000 in the previous year[20]. - For the fiscal year ending March 31, 2021, the group recorded a loss attributable to the owners of the company of approximately HKD 61,928,000, compared to a loss of HKD 60,485,000 in the previous year[48]. - The group's financial costs for the fiscal year were approximately HKD 20,527,000, a decrease of 23% from HKD 26,729,000 in the previous fiscal year[46]. - Revenue from the horse services segment for the twelve months ending March 31, 2021, was approximately HKD 21,999,000, down from HKD 26,443,000 in the previous year[38]. Cost Management - Direct costs decreased from approximately HKD 6,665,000 to about HKD 6,392,000[25]. - Administrative expenses were reduced by 17% from HKD 87,286,000 in 2020 to approximately HKD 72,052,000[25]. - The group continues to seek new business opportunities in the financial services sector while maintaining cost control and improving operational performance[39]. Financial Position - As of March 31, 2021, the company had cash and bank balances of approximately HKD 106,926,000[18]. - As of March 31, 2021, the group's current assets were approximately HKD 325,358,000, down from HKD 465,135,000 in the previous year, with a current ratio of approximately 2.04:1 compared to 1.78:1 in the previous year[41]. - The capital-to-debt ratio was approximately 267%, up from 194% in the previous year[26]. Dividend Policy - The company did not recommend the distribution of a final dividend for the year ended March 31, 2021[17]. - The group has not declared a final dividend for the year ending March 31, 2021, consistent with the previous year[34]. - As of March 31, 2021, the company had no distributable reserves available for shareholders, compared to zero in the previous year[81]. Business Development - The company remains optimistic about the growth prospects in the financial services sector, including lending, securities, and asset management[21]. - The company has successfully diversified its business segments into financial services, including securities trading and asset management, following acquisitions in recent years[59]. - The company completed the acquisition of cryptocurrency mining machines on April 30, 2021, to diversify its business into the cryptocurrency mining sector[59]. - The company is exploring strategic alliances to accelerate business development and improve financial conditions for shareholder value creation[49]. Market Conditions - The company anticipates a challenging year in 2021 due to the ongoing impacts of the US-China trade dispute and the COVID-19 pandemic on global economic conditions and consumer confidence[49]. - The financial services division is expected to face significant performance impacts from the stock market performance in Hong Kong and China[49]. - The company acknowledges the uncertainty in market sales trends, particularly in the thoroughbred horse market, which is influenced by global market trends and the reputation of specific horses[52]. - The company is aware of the risks associated with political, social, and economic policy uncertainties in Australia, which could adversely affect its operations[55]. Corporate Governance - The company has established corporate governance procedures to ensure independent evaluation and review of business opportunities and performance[126]. - The board believes that the interests of the group are adequately protected against competition from directors' personal interests[126]. - The company has adopted a code of conduct for directors' securities trading, adhering to the standards set by GEM listing rules[167]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules[169]. - The company has established an audit committee and a remuneration committee to maintain high standards of corporate governance[193]. Share Options and Stock - The total number of options available for issuance under the share option plan as of March 31, 2021, is 107,263,864 shares, which is approximately 5% of the total issued shares[134]. - The company has not granted any stock options for the year ending March 31, 2021, maintaining the same status as 2020[143]. - The average exercise price of stock options granted was HKD 0.757, with a historical volatility of 61.97%[142]. - The company has a total of 67,690,204 stock options that were exercised during the reporting period[142]. Employee and Executive Compensation - The compensation policy for senior executives is primarily linked to performance, with employee benefits including medical insurance and mandatory provident fund[152]. - The remuneration of directors and senior management is determined by the company's performance and profitability, as well as compensation benchmarks from local and international companies[199].
帝国金融集团(08029) - 2021 - 年度财报