Financial Performance - Total revenue for the fiscal year 2020 was HKD 116,110,000, a decrease of 43.7% compared to HKD 206,268,000 in 2019[12] - The company reported a loss of HKD 63,940,000 for the fiscal year 2020, compared to a loss of HKD 37,134,000 in 2019, indicating a deterioration in financial performance[12] - Total assets decreased to HKD 378,796,000 in 2020 from HKD 443,488,000 in 2019, reflecting a decline of 14.6%[12] - Total liabilities reduced to HKD 15,704,000 in 2020 from HKD 23,585,000 in 2019, a decrease of 33.5%[12] - The company's equity attributable to owners decreased to HKD 363,092,000 in 2020 from HKD 419,903,000 in 2019, a decline of 13.5%[12] - The lending business generated revenue of HKD 52,000,000, down from HKD 60,100,000 in the previous year[24] - Total revenue for the fiscal year ending March 31, 2020, was approximately HKD 116,100,000, a decrease from HKD 206,300,000 in 2019[23] - The wholesale business revenue was approximately HKD 64,100,000, down from HKD 146,200,000 in the previous year[28] Future Outlook and Strategy - Future outlook remains uncertain due to the significant losses reported and the overall decline in revenue[13] - The company is focusing on restructuring and cost management strategies to improve financial health[13] - The company plans to expand its online retail business by hiring more sales and delivery personnel and upgrading its online platform[18] - The company is exploring vertical integration opportunities by acquiring a company operating Korean BBQ restaurants in Hong Kong[22] - The company aims to diversify its business by seeking suitable investment opportunities across different industries[18] - The company will continue to monitor operations and develop new markets to increase revenue and market share[26] Corporate Governance - The company has adhered to the GEM Listing Rules regarding corporate governance practices throughout the fiscal year ending March 31, 2020[68] - The company is actively seeking suitable candidates to fill vacancies for independent non-executive directors and committee members to comply with GEM Listing Rules[72] - The company has confirmed that all directors complied with the trading standards as per GEM Listing Rules for the fiscal year ending March 31, 2020[74] - The company has a strong commitment to high-level corporate governance to protect shareholder interests[68] - The company’s board is responsible for establishing and reviewing corporate governance policies and practices[72] - The company has implemented a code of conduct and compliance manual applicable to employees and directors[72] - The company has a clear separation of roles between the chairman and the CEO, adhering to governance guidelines[81] - The company has established a remuneration policy that is transparent and aligned with corporate goals[82] - The board composition includes a balanced mix of executive and independent non-executive directors, enhancing governance[77] Risk Management - The board is responsible for the internal control system and has established a risk management system to protect shareholder interests and company assets[100] - The company has implemented a three-line defense model for risk management, with the first line being operational management, the second line comprising various oversight roles, and the third line being independent advisors[101] - The board and audit committee reported the effectiveness of the risk management and internal control systems for the year ended March 31, 2020, with no significant issues identified[104] Environmental and Social Responsibility - The company is committed to sustainable development and adheres to environmental protection laws and regulations[111] - The company has a policy to prioritize environmental and social responsibilities, integrating these considerations into daily operations[118] - The company has established various communication channels to address stakeholder concerns regarding environmental compliance and social responsibility[123] - Total greenhouse gas emissions increased to 894 tons CO2 equivalent in 2020, up 36.55% from 567 tons in 2019[127] - Direct greenhouse gas emissions rose to 112 tons in 2020, a 37.50% increase from 70 tons in 2019[125] - Indirect greenhouse gas emissions from purchased electricity increased to 756 tons in 2020, up 36.64% from 479 tons in 2019[125] - Total electricity consumption reached 1,200,000 kWh in 2020, a 38.36% increase from 739,631 kWh in 2019[132] - Water consumption increased significantly to 1,559 cubic meters in 2020, a 76.36% rise from 884 cubic meters in 2019[132] Employee Welfare - The total number of employees as of March 31, 2020, was categorized by gender and age, with 33 employees aged over 50[148] - The employee turnover rate was low, with only 56 employees leaving during the reporting period[149] - The group provides comprehensive medical insurance for full-time employees, including medical, surgical, hospitalization, and employee compensation insurance[154] - The group emphasizes employee training and development, offering various training programs to enhance professional knowledge and skills[157] - The group has established a smoking policy to ensure a healthy and safe working environment[155] Shareholder Engagement - The company emphasizes regular and effective communication with shareholders, ensuring timely disclosure of important information through various channels[107] - The company is open to shareholder proposals, requiring at least 10% of the paid-up capital for such requests[108] - The independent board committee recommended shareholders reject the offer, stating it was unfair and not in their best interests[54] Financial Management - The company reported a distributable reserve of HKD 335,108,000 as of March 31, 2020, which includes share premium and retained earnings[191] - The company did not recommend any dividend payment for the year ended March 31, 2020, consistent with the previous year[185] - The company has established a remuneration committee to review the remuneration policy based on operational performance and market practices[200]
仍志集团控股(08079) - 2020 - 年度财报