Financial Performance - Revenue for the year ended March 31, 2020, was HKD 119.7 million, a decrease of 9.9% from HKD 132.9 million in 2019[7] - Gross profit for the same period was HKD 50.4 million, down 12.8% from the previous year's figure[7] - Operating profit decreased by 41.5% to HKD 17.9 million from HKD 30.6 million in 2019[7] - Profit before tax was HKD 8.6 million, a decline of 57.8% compared to HKD 20.4 million in 2019[7] - Net profit for the year was HKD 4.1 million, down 71.3% from HKD 14.3 million in the previous year[7] - Total current assets as of March 31, 2020, were HKD 103.7 million, a decrease of 14.5% from HKD 121.3 million[7] - Total assets decreased by 65.5% to HKD 118.6 million from HKD 343.6 million in 2019[7] - The company’s earnings per share for the year was HKD 0.88, down 56.7% from HKD 2.03 in 2019[7] - The group recorded an annual profit of approximately HKD 4.1 million for the year ended March 31, 2020, a significant decrease of about 71.3% compared to HKD 14.3 million in 2019, mainly due to a decline in sales of electronic payment terminals and related services[33] Revenue Breakdown - Revenue from the procurement of electronic payment terminals and related equipment was approximately HKD 41.3 million for the year ended March 31, 2020, down about 17.4% from HKD 50.0 million in the previous year, primarily due to a decrease in the number of terminals sold[25] - Revenue from system support and software solution services was approximately HKD 78.4 million for the year ended March 31, 2020, a decline of about 5.4% from HKD 82.9 million in the previous year, mainly due to a significant reduction in point-of-sale software services[25] Cost and Expenses - Employee costs increased by approximately 11.0%, amounting to HKD 25.3 million for the year ended March 31, 2020, compared to HKD 22.8 million in the previous year, primarily due to an increase in the number of employees[30] - Other administrative expenses rose by approximately 13.0% to HKD 17.4 million for the year ended March 31, 2020, from HKD 15.4 million in the previous year, mainly due to increased legal and professional fees[31] - The overall gross profit margin slightly decreased to approximately 42.1% for the year ended March 31, 2020, from 43.5% in the previous year, attributed to a higher procurement of lower-margin electronic payment terminals[28] Market Opportunities and Risks - The company anticipates significant growth opportunities in the electronic payment terminal market due to the rapid development of digital payment methods, particularly QR code payments and e-wallet systems[19] - The company faces operational risks, including market changes and the need to attract and retain qualified technical and management personnel[21] Corporate Governance - The company has a strong commitment to high-level corporate governance, emphasizing a quality board, sound risk management, and transparency[61] - The board has established an audit committee, nomination committee, and remuneration committee, adhering to the principles of the GEM Listing Rules[62] - The company has maintained compliance with the corporate governance code, with the exception of the chairman and CEO roles being held by the same individual, which the board deems appropriate given the rapid development of the group[62] - The company has a management team with extensive experience in finance, accounting, and electronic payment solutions, ensuring effective oversight of operations[56][57][58][59] - The independent non-executive directors bring over 25 years of experience in real estate investment and over 15 years in accounting and financial management[52][53] Shareholder and Investor Relations - The company has established various communication channels to maintain transparency and good investor relations, including timely publication of quarterly, interim, and annual reports[109] - The company encourages shareholder participation in meetings, with all resolutions presented at the shareholder meetings being voted on, except for procedural matters[104] - The company has established procedures for shareholders to nominate candidates for the board, requiring specific documentation to be submitted[107] Environmental and Social Responsibility - The company has committed to environmental protection measures, including energy-saving lighting and the use of eco-friendly products, to ensure sustainable business development[181] - The company aims to be recognized as a responsible information technology and payment solutions provider, integrating environmental, social, and governance factors into all operations[198] Related Party Transactions - The group has entered into several related party transactions, including leasing agreements with Mr. Lau and his associates, totaling 792,000 HKD for warehouse and office rentals[163] - The actual amount for sales of electronic payment terminals and related equipment with EasyPay (owned by Mr. Lau) was 18,241,137 HKD against an annual cap of 20,000,000 HKD[163] - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on terms no less favorable than those offered to independent third parties[176] Dividend Policy - The company reported a proposed final dividend of HKD 0.625 per share for the fiscal year ending March 31, 2020, compared to no dividend in the previous year[121] - The board of directors has full discretion to declare dividends based on the group's financial performance and liquidity needs[120]
俊盟国际(08062) - 2020 - 年度财报