Financial Performance - Total revenue for the fiscal year 2021 was HKD 115,368,000, a slight decrease of 0.64% compared to HKD 116,110,000 in 2020[7] - The company reported a loss of HKD 94,698,000 for the fiscal year 2021, compared to a loss of HKD 63,940,000 in 2020, indicating a deterioration in financial performance[7] - Total assets decreased to HKD 278,695,000 in 2021 from HKD 378,796,000 in 2020, reflecting a decline of approximately 26.4%[7] - Total liabilities were HKD 11,001,000 in 2021, down from HKD 15,704,000 in 2020, showing a reduction of about 30.0%[7] - The company's equity attributable to owners decreased to HKD 267,694,000 in 2021 from HKD 363,092,000 in 2020, a decline of approximately 26.3%[7] - Future guidance indicates a cautious outlook, with expectations of gradual recovery in revenue and profitability[8] Business Strategy and Operations - The company has been focusing on enhancing its financial services and investment strategies to improve future performance[8] - There are plans for market expansion and potential new product offerings in the upcoming fiscal year[8] - The management is committed to exploring strategic partnerships and acquisitions to bolster growth opportunities[8] - The company aims to improve operational efficiency and reduce costs in response to the current financial challenges[8] - The lending business generated revenue of HKD 31,200,000, a decrease from HKD 52,000,000 in the previous year[17] - The retail and wholesale segment reported revenue of approximately HKD 84,200,000, an increase from HKD 64,100,000 in the previous year[19] - The company plans to expand its lending and retail businesses by hiring more sales and delivery personnel and upgrading its online platform[11] - The company aims to diversify its business by exploring investment opportunities in different industry sectors[11] Corporate Governance - The company has maintained compliance with the GEM Listing Rules and corporate governance standards throughout the fiscal year ending March 31, 2021[61] - The board held a total of 9 meetings during the fiscal year, with all executive directors attending the meetings[65] - The company’s chairperson and CEO roles are held by the same individual, which the board believes strengthens leadership and strategic planning efficiency[62] - The company has a balanced composition of executive and non-executive directors, ensuring a diverse range of experiences and perspectives[65] - The company’s independent non-executive directors have extensive experience in accounting, finance, and management, contributing valuable insights to the board[59] - The company has adopted the trading standards as per GEM Listing Rules, ensuring all directors complied with these standards during the fiscal year[64] - The company’s governance policies and practices are regularly reviewed to ensure adherence to legal and regulatory requirements[63] - The company has appointed new independent non-executive directors in 2020, enhancing the board's expertise and oversight capabilities[59] Risk Management and Internal Control - The board is responsible for the overall internal control system and has established a risk management framework to protect shareholder interests and company assets[85] - The company has implemented a three-line defense model for risk management, with the first line being operational management, the second line comprising compliance and finance departments, and the third line being independent consultants[86] - The company has not identified any significant deficiencies in its internal control system during the annual review conducted by independent third-party consultants[87] - The board and audit committee have reported the effectiveness of the risk management and internal control systems, deeming them sufficient and effective[88] Environmental, Social, and Governance (ESG) Practices - The company emphasizes the importance of environmental and social responsibility, integrating these considerations into daily operations[99] - The group conducted an annual materiality assessment involving stakeholders to identify key environmental, social, and governance issues[102] - Key issues identified include employee compensation, product health and safety, and supplier selection and monitoring, which are deemed highly important[105] - The company is committed to sustainable development and aims to protect the environment while supporting society[101] - Stakeholder engagement is crucial for understanding concerns and expectations, which supports the company's long-term sustainability strategy[100] - The company has established various communication channels to gather feedback from stakeholders regarding its environmental, social, and governance practices[106] Employee Management and Development - The total number of employees as of March 31, 2021, was 99, with a gender distribution of 45 males and 54 females, reflecting a 4.65% increase in male employees and a 3.57% increase in female employees compared to the previous year[131] - Employee turnover rate decreased from 57% to 35% compared to last year, with only 35 employees leaving during the reporting period[136][138] - The number of reported injuries decreased from 2 to 1, while the number of lost workdays due to occupational injuries remained stable at 296[140] - Total training hours decreased by 26.07% from 280 hours to 207 hours, with an average training time per employee dropping by 15.73% from 2.48 hours to 2.09 hours[148] - The percentage of trained male employees fell from 72% to 51%, while the percentage of trained female employees increased from 42% to 57%[147] - The company emphasizes employee training and development, providing various training programs tailored to different employee needs[145] Financial Reporting and Shareholder Communication - The company reported a total distributable reserve of HKD 265,290,000 as of March 31, 2021[179] - The company did not make any donations during the year, consistent with the previous year[181] - The board of directors did not recommend any dividend for the year ended March 31, 2021, similar to the previous year[171] - The company has established reporting channels for internal complaints and encourages employees to report any business misconduct[162] - The company remains committed to maintaining the highest levels of integrity and ethical standards[162] Stock Options and Share Capital - The new stock option plan allows the issuance of stock options up to a maximum of 10% of the issued share capital as of the approval date[191] - As of March 31, 2021, no stock options were granted under the new plan, and 385,000 stock options had lapsed[196] - The company’s highest shareholder, Rich Treasure Group Limited, holds 82,288,613 shares, representing 34.23% of the issued share capital[200] - The company’s executive director, Mr. Luo, holds 2,185,000 shares, which is approximately 0.91% of the issued share capital[197]
仍志集团控股(08079) - 2021 - 年度财报