Financial Performance - The group's revenue decreased by approximately 4.3% from about HKD 235 million in the previous year to about HKD 224.9 million for the year ended March 31, 2021[11]. - Gross profit increased by approximately HKD 200,000 or 2.7% to about HKD 9.1 million, attributed to better cost control in renovation projects[11]. - The group recorded a total comprehensive profit of approximately HKD 2.6 million, compared to a total comprehensive loss of about HKD 5 million in the previous year[11]. - The company's revenue for the year ended March 31, 2021, was approximately HKD 224,900,000, a decrease of about 4.3% from HKD 235,000,000 in the previous year[23]. - Revenue from renovation projects decreased by approximately HKD 90,200,000 or about 62.6%, while revenue from decoration projects increased by approximately HKD 80,100,000 or about 88.2%[23]. - The gross profit for the year was approximately HKD 9,100,000, an increase of about HKD 200,000 or 2.7% from HKD 8,900,000 in the previous year[29]. - The gross profit margin for decoration projects improved to 2.4% from a loss margin of 3.4% in the previous year, while the gross profit margin for renovation projects decreased to 9.5% from 8.3%[29]. - Other income and gains increased from approximately HKD 3,300,000 to HKD 8,400,000, primarily due to an increase in government subsidies under the employment support scheme[31]. - Administrative expenses decreased by approximately 11.4% from HKD 16,700,000 to HKD 14,800,000, mainly due to a reduction in employee costs[32]. - The company recorded a profit of approximately HKD 2,600,000 for the year, compared to a loss of about HKD 5,000,000 in the previous year[34]. - As of March 31, 2021, the company had cash and bank balances of approximately HKD 47,100,000, an increase from HKD 31,500,000 in the previous year[36]. - The current ratio improved from approximately 3.0 times to 3.3 times, indicating a stronger liquidity position[36]. Project and Market Outlook - The group was awarded two projects with contract amounts exceeding HKD 10 million each, totaling approximately HKD 118.1 million, contributing about HKD 16 million in revenue during the year[17]. - The total number of projects awarded decreased from six in the previous year to two in the current year[17]. - The group anticipates a recovery in the private residential market and is prepared for future challenges, expecting the upcoming year to be remarkable[13]. - The group plans to continue focusing on developing the high-end renovation and refurbishment market[18]. - The group aims to expand its project team to ensure sufficient manpower for larger projects in the future[13]. Corporate Governance and Management - The company has maintained its overall corporate strategy under the leadership of its founders, who have extensive management experience[50][51][52]. - The management team includes individuals with over 29 years of experience in the renovation and design industry, indicating strong expertise in their operational areas[51][59]. - The company has a structured board with independent non-executive directors who contribute to audit and compensation committees, enhancing governance[54][55]. - The financial director has been with the group since 2010, bringing significant financial management experience to the company[59]. - The company has a dedicated compliance officer overseeing human resources and administrative affairs, ensuring regulatory adherence[52]. - The management team is well-rounded, with members holding advanced degrees in finance and accounting, which supports informed decision-making[62]. - The company has established a strong reputation in the renovation and refurbishment industry, which helps maintain customer loyalty[71]. - The company emphasizes the importance of maintaining good relationships with suppliers to ensure efficient project completion and enhance market reputation[72]. Shareholder and Financial Policies - The company reported a final dividend of HKD 3,520,000 for the year ended March 31, 2021, translating to HKD 0.011 per ordinary share, an increase from HKD 0.0075 per share in 2020[79]. - The company focuses on sustainable profit growth and aims to reward shareholders with dividends while considering business development needs and financial health[74]. - The company has not issued any shares during the fiscal year[80]. - The company has confirmed compliance with GEM Listing Rules regarding related party transactions and has disclosed necessary information as per the regulations[97]. - The company has a stock option plan approved on February 14, 2018, which allows for the issuance of up to 32,000,000 shares, representing 10% of the company's issued share capital[102]. - The company has no plans for further grants or offerings of stock options after the expiration of the stock option plan period[99]. - The company has confirmed that all independent non-executive directors meet the independence criteria set forth in the GEM Listing Rules[88]. - The company’s board of directors' remuneration is determined based on recommendations from the remuneration committee and is subject to shareholder approval at the annual general meeting[94]. Risk Management and Compliance - The company has allocated sufficient resources and training to ensure compliance with applicable laws and regulations, with no significant violations reported during the year[68]. - The company has established appropriate and effective management policies and internal control systems regarding environmental, social, and governance (ESG) matters as of March 31, 2021[199]. - The company has adopted a code of conduct for securities trading, which all directors confirmed adherence to during the year[142]. - The board has established a risk management system with clear organizational responsibilities and regular monitoring of risk levels[173]. - The board conducted an annual review of the effectiveness of the risk management and internal control systems, finding them to be effective and sufficient[177]. Environmental, Social, and Governance (ESG) Commitment - The company is committed to environmental sustainability and resource efficiency in its operations[67]. - The company’s ESG report highlights its commitment to sustainable development and incorporates environmental, social, and governance principles into its risk management[194]. - Key ESG aspects include greenhouse gas emissions, energy consumption, and occupational health and safety[199]. - The group has implemented human resources policies and employee development and training programs[199]. - The group has measures in place to prevent child labor and forced labor within its operations[199]. - The group manages environmental and social risks in its supply chain[199]. - The quality and safety of services provided are emphasized under product responsibility[199]. - The group is committed to community investment and social welfare initiatives[199]. - Stakeholder feedback on the ESG report and sustainability performance is welcomed[200].
快意智能(08040) - 2021 - 年度财报