Financial Performance - Total revenue for the year ended March 31, 2019, was approximately HKD 593.0 million, an increase from HKD 550.4 million in 2018[7] - The company reported a loss before tax of approximately HKD 22.1 million, compared to a profit of HKD 5.1 million in 2018[7] - Loss attributable to owners for the year was approximately HKD 27.9 million, significantly higher than HKD 2.3 million in 2018[7] - Revenue from Western cuisine restaurants increased by approximately HKD 30.4 million or 9.3% to HKD 355.8 million, driven by better overall performance and new restaurant openings[19] - Revenue from Italian cuisine restaurants rose by approximately HKD 17.1 million or 13.2% to HKD 146.4 million, primarily due to the opening of Dear Lilly in February 2018[20] - Revenue from Asian cuisine restaurants decreased by approximately HKD 4.9 million or 5.1% to HKD 90.8 million, attributed to the closure of Lilya and revenue declines in several restaurants due to economic slowdown[21] - The company reported a loss attributable to owners of approximately HKD 27.9 million for the year ended March 31, 2019, compared to a loss of HKD 2.3 million for the previous year, primarily due to the closure of three loss-making restaurants[29] - Revenue generated from restaurant operations for the year ended March 31, 2019, was approximately HKD 593,000,000[198] Operational Developments - The company has established two wholly-owned foreign enterprises in China to pursue expansion opportunities[10] - The company is focusing on operational optimization and has introduced Alipay to enhance payment processing efficiency[9] - Cash payments have decreased to below 20% of total payment methods due to the increased adoption of electronic payments[9] - A strategic plan has been developed to identify and pursue growth opportunities in various regions and business types[10] - The company has begun team formation and business activities for its expansion efforts in China[10] - The company aims to expand into the mainland China market, which has a population of 1.5 billion and is expected to have the largest middle class globally[11] - The company is seeking opportunities to expand its professional capabilities into independent businesses within the group, leveraging existing expertise[11] - The company plans to upgrade existing restaurants and promote new dining experiences to enhance customer engagement and diversify its offerings[32] - The company opened two new restaurants in Hong Kong during the fiscal year ending March 31, 2019, as part of its ongoing network expansion strategy[36] Financial Position - The total assets of the group as of March 31, 2019, were approximately HKD 197.1 million, down from HKD 228.9 million in 2018, with cash and bank balances of HKD 31.9 million[31] - The group’s operating cash flow was negative HKD 1.6 million as of March 31, 2019, compared to positive HKD 4.5 million in 2018, resulting in a current ratio of 0.79[31] - The company has no significant contingent liabilities as of March 31, 2019, maintaining a stable financial position[40] - The company’s capital commitments as of March 31, 2019, were approximately HKD 3.07 million, a decrease from HKD 3.38 million in the previous year[41] - The company reported a distributable reserve of approximately HKD 12,763,000 as of March 31, 2019, compared to HKD 9,713,000 in 2018, indicating a year-over-year increase of 31.9%[118] Governance and Compliance - The company has adopted corporate governance principles to ensure transparency, independence, accountability, and fairness, aiming to enhance long-term shareholder value[65] - The board of directors is responsible for strategy formulation, performance monitoring, and risk management, with three committees established for audit, remuneration, and nomination[67] - All directors confirmed compliance with the securities trading code for the fiscal year ending March 31, 2019[68] - The board consists of seven members, including executive, non-executive, and independent non-executive directors, ensuring a diverse governance structure[69] - The company maintains proper accounting records to monitor overall financial status and provides timely updates on operational and financial conditions to shareholders[71] - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance board effectiveness[78] - The company will continue to review its governance policies to ensure compliance with legal and regulatory requirements[80] - The audit committee held four meetings during the fiscal year ending March 31, 2019, overseeing the internal control and risk management systems of the group[86] - The company has established internal control procedures for handling and disclosing internal information to comply with corporate governance codes and relevant regulations[87] Environmental and Social Responsibility - The company is committed to environmental policies, including using recycled paper and adjusting air conditioning to 24 degrees Celsius in winter[110] - The company has installed air pollution control equipment to remove grease before releasing exhaust into the atmosphere[171] - The company is committed to integrating sustainable development measures into its daily operations and management[168] - The total greenhouse gas emissions amounted to 5,002.32 tons of CO2 equivalent, with a greenhouse gas emission intensity of 8.44 tons of CO2 equivalent per million HKD revenue[174] - The company consumed 5,654,277 kWh of electricity during the reporting year, with an electricity consumption intensity of 9,535.03 kWh per million HKD revenue[175] - Water resource usage was reported at 90,968.81 cubic meters, with a water usage intensity of 153.40 cubic meters per million HKD revenue[177] - The company collected a total of 35,228 liters (or 32.13 tons) of waste oil for recycling during the year ended March 31, 2019[178] - The company donated HKD 424,136 to improve literacy levels and gender equality education globally for the year ended March 31, 2019[188] Employee and Labor Relations - The company had a total of 725 employees as of March 31, 2019, with compensation for directors and senior management based on market levels and company performance[142] - The total employee cost for the year ending March 31, 2019, was approximately HKD 190.24 million, an increase from HKD 170.05 million in the previous year[43] - The company is committed to improving employee compensation and benefits to attract and retain top talent in the competitive labor market[182] - The company lost a total of 264 workdays due to work-related injuries and/or occupational diseases during the reporting year[183] Audit and Financial Reporting - The financial statements for the year ended March 31, 2019, were audited by Deloitte Touche Tohmatsu[165] - The audit procedures included assessing the revenue recognition as a key audit matter due to its significance to the consolidated income statement and other comprehensive income[199] - The company is responsible for preparing true and fair consolidated financial statements in accordance with the Hong Kong Financial Reporting Standards[200] - The audit opinion does not cover other information included in the annual report, which is the responsibility of the company's directors[199] - The audit team is required to read other information to identify any significant inconsistencies with the financial statements[199] - The revenue recognition accounting policy is disclosed in Note 4 of the consolidated financial statements[198]
生活概念(08056) - 2019 - 年度财报