Financial Performance - Revenue for the year ended March 31, 2019, was HKD 132.9 million, representing a 41.2% increase from HKD 94.1 million in 2018[9] - Gross profit increased to HKD 57.8 million, up 18.4% from HKD 48.8 million in the previous year[9] - Operating profit rose to HKD 30.6 million, a 10.9% increase compared to HKD 27.6 million in 2018[9] - Profit before tax decreased by 25.5% to HKD 20.4 million from HKD 27.4 million in 2018[9] - Net profit for the year was HKD 14.3 million, down 34.1% from HKD 21.7 million in the previous year[9] - Earnings attributable to shareholders per share decreased by 55.3% to HKD 2.03 from HKD 4.52 in 2018[11] - The overall gross profit for the fiscal year ending March 31, 2019, was approximately HKD 57.8 million, an increase of about 18.4% from HKD 48.8 million, although the gross margin decreased from approximately 51.9% to 43.5% [49] - The annual profit for the fiscal year ending March 31, 2019, was approximately HKD 14.3 million, a decrease from HKD 21.7 million in the previous year, attributed to increased financing costs and administrative expenses [58] Assets and Liabilities - Total current assets increased by 26.6% to HKD 121.3 million from HKD 95.8 million in 2018[11] - Total assets surged by 210.1% to HKD 343.6 million compared to HKD 110.8 million in the previous year[11] - As of March 31, 2019, the company's net current assets were approximately HKD 24.0 million, a decrease from HKD 71.0 million in 2018[60] - The company's cash and cash equivalents as of March 31, 2019, were approximately HKD 38.2 million, up from HKD 22.6 million in 2018[60] - The capital debt ratio as of March 31, 2019, was approximately 197.1%, significantly higher than 5.8% in 2018[60] - The company had bank borrowings of approximately HKD 13.3 million, an increase from HKD 5.0 million in 2018[66] Business Strategy and Growth - The company aims to expand its software solution services to capture growth opportunities in the cashless society[17] - The company continues to focus on the procurement of electronic payment terminals and related services, with significant growth in software solution services[16] - The company plans to continue investing more resources to enhance its payment solutions technology and software solutions[21] - The company aims to capture a larger market share in the electronic payment sector by providing diversified and high-quality services[21] - The company anticipates continued growth in demand for payment terminals and related services[25] - The company is actively seeking strategic partnerships, particularly in payment solutions, to create greater value for customers and shareholders[21] - The company successfully acquired 70% of Earn World Development Limited and 75% of Newport Tek Pty Ltd, expanding its business into retail, distribution, and accounting software solutions[28] - Approximately HKD 10.0 million is earmarked for potential future strategic acquisitions to enhance the product portfolio and expand market share [39] Operational Efficiency - Other administrative expenses rose significantly by approximately 161.0%, reaching HKD 15.4 million, primarily due to increased legal and professional fees related to compliance and acquisitions [53] - The company recorded a financing cost of approximately HKD 9.1 million for the fiscal year ending March 31, 2019, compared to HKD 13,000 for the previous year [55] - The company has upgraded its servers to improve performance and security, and has procured additional computers for new employees[34] - The company has utilized approximately HKD 2.0 million for property renovations to accommodate new employees [42] Corporate Governance - The board has emphasized the importance of corporate governance, ensuring compliance with GEM listing rules and maintaining transparency[96] - The company has established a robust risk management framework to mitigate potential operational risks and safeguard shareholder interests[96] - The board of directors consists of executive, non-executive, and independent non-executive directors, with a three-year initial term for non-executive and independent non-executive directors, automatically renewing for one year thereafter[106] - The audit committee, established on November 23, 2016, is composed of three independent non-executive directors and is responsible for reviewing the group's financial reporting process and internal control systems[112] - The remuneration committee, also established on November 23, 2016, is tasked with recommending remuneration for all executive directors and senior management, including benefits and compensation payments[114] - The nomination committee, formed on November 23, 2016, evaluates the board's structure and diversity, and provides recommendations for the appointment or reappointment of directors[118] - The company has adopted a written terms of reference for the audit committee, remuneration committee, and nomination committee in accordance with GEM listing rules[113] Shareholder Information - The company encourages shareholders to participate in meetings and vote on resolutions presented[141] - The company has a policy to declare dividends only when profitable and not affecting normal operations[148] - The largest customer contributed approximately 13.2% of total revenue for the year ended March 31, 2019, down from 18.9% in 2018[171] - The top five customers accounted for about 43.1% of total revenue in the year, compared to 50.4% in 2018[171] - The largest supplier represented approximately 20.8% of total cost of goods and services, a decrease from 30.7% in 2018[171] - The top five suppliers accounted for around 62.5% of total cost of goods and services, down from 74.2% in 2018[171] Stock Options and Equity - A total of 38,400,000 stock options have lapsed under the stock option plan as of the report date[172] - The stock option plan allows for a maximum of 30% of the issued shares to be potentially issued upon exercise of options[177] - The exercise price for stock options is determined by the board and is the higher of the closing price on the grant date or the average closing price over the preceding five trading days[178] - The stock options granted to certain directors are subject to specific vesting periods, with some options becoming exercisable three months after the grant date[180][181] - As of March 31, 2019, Mr. Lau holds a total equity interest of 345,600,000 shares, representing 72% of the issued shares[196] - Ms. Lam, as Mr. Lau's spouse, is deemed to have an interest in the shares held by Mr. Lau, totaling 345,600,000 shares, which is 72% of the issued shares[197] - LCK Group Limited, beneficially owned by Mr. Lau, holds 345,600,000 shares, accounting for 72% of the total issued shares[200]
俊盟国际(08062) - 2019 - 年度财报