Financial Performance - For the fiscal year ending April 30, 2021, the group's revenue increased by approximately HKD 26.1 million or 13.0% to approximately HKD 200.9 million, compared to HKD 174.8 million in 2020[9] - The group's net profit rose to approximately HKD 23.6 million, up from HKD 18.3 million in 2020[9] - The group's revenue for the year ended April 30, 2021, was approximately HKD 200.9 million, an increase of about HKD 26.1 million or 14.9% compared to approximately HKD 174.8 million for the year ended April 30, 2020[15] - Revenue from LED decorative lights increased to approximately HKD 146.8 million, a rise of about HKD 33.3 million or 29.3% from approximately HKD 113.5 million in the previous year[19] - Revenue from LED lighting lights decreased to approximately HKD 54.1 million, a decline of about HKD 7.2 million or 11.7% from approximately HKD 61.3 million in the previous year[20] - The group's gross profit increased to approximately HKD 55.2 million, up about HKD 5.0 million or 10.0% from approximately HKD 50.2 million in the previous year[22] - The group's net profit for the year was approximately HKD 24.1 million, an increase of about HKD 5.6 million or 30.3% compared to the previous year's profit[30] - As of April 30, 2021, the group's cash and bank balances were approximately HKD 58.9 million, compared to HKD 29.8 million as of April 30, 2020[32] - The group's current ratio as of April 30, 2021, was 4.7 times, an increase from 3.7 times in the previous year[32] Business Operations and Strategy - The company has established a factory in Cambodia, which began operations in October 2020, although it has not yet achieved full capacity due to the pandemic situation in Cambodia[8] - The company aims to expand its product portfolio to strengthen its market position both locally and internationally[10] - The company has seen an increase in sales orders from existing customers and has engaged with new customers for business cooperation[8] - The global economic outlook remains affected by the pandemic, prompting the company to adopt a prudent and balanced risk management approach[10] - The company emphasizes the importance of good customer relationships, product quality, and high employee morale for continued business development[8] - The company has maintained a good reputation and product quality in the LED lighting business since its listing in 2017[9] - The company is committed to building a good corporate reputation and enhancing overseas customer confidence through its operations in Cambodia[8] - The group plans to participate in various exhibitions globally in the coming years to enhance its market presence[16] - The new production line in Phnom Penh, Cambodia, is expected to enhance the group's competitiveness due to tax incentives for exports to the United States[16] - The company participated in various exhibitions and trade fairs to expand its sales channels, including events in Hong Kong and the United States[48] Human Resources and Employee Welfare - The total employee count as of April 30, 2021, was 194, a decrease from 199 in 2020, with total salary costs amounting to approximately HKD 24.3 million, up from HKD 21.0 million in 2020[39] - The company hired 7 new sales personnel to strengthen its sales and marketing efforts[48] - The company has a total workforce of 553 employees, with 68% being full-time employees[194] - The group emphasizes the importance of hiring and retaining high-quality employees, following fair and transparent recruitment processes based on objective criteria[199] - Basic salaries are determined according to the group's compensation standards, market salary levels, and employee positions, with discretionary bonuses awarded based on performance[199] - Employees are entitled to various types of leave, including annual leave, sick leave, and maternity leave, in accordance with Chinese labor laws[199] - The group provides statutory social insurance for employees, including pension, unemployment, work injury, medical, maternity insurance, and housing provident fund[199] - The group has prioritized employee welfare during the COVID-19 pandemic by canceling entertainment activities and providing holiday gifts during major festivals[200] - The group expressed care and support for female employees on International Women's Day[200] Corporate Governance - The company emphasizes the importance of good corporate governance for maintaining transparency and accountability[71] - The board of directors is responsible for leading, controlling, and managing the company, ensuring effective operations and growth[73] - The board composition includes three executive directors and at least three independent non-executive directors, complying with GEM listing rules[76] - All directors have a designated term of two years, with provisions for re-election at the annual general meeting[82] - The company has adhered to all principles of the corporate governance code as of April 30, 2021[72] - The chairman and CEO roles are separated to ensure a balance of power and independent judgment[79] - The company has a robust internal control and risk management system in place[73] - The independent non-executive directors contribute to the establishment of effective policies and provide checks and balances for the company[76] - The company secretary oversees overall financial management and compliance matters[67] - The management team is empowered to handle daily operations, with significant transactions requiring board approval[73] - The board of directors has conducted a total of 5 meetings and 1 annual general meeting, with all executive directors attending all meetings[86] - The audit committee held 4 meetings during the year, reviewing the group's financial statements and compliance with accounting principles[95] - The company has adopted the GEM Listing Rules for securities trading standards, with all directors confirming compliance for the year ending April 30, 2021[88] - The company has established a written guideline for employees who may possess insider information regarding securities trading[88] - The independent non-executive directors participated in various training sessions to ensure compliance with corporate governance codes[83] - The audit committee consists of three independent non-executive directors, ensuring compliance with GEM Listing Rules[94] - The company has provided continuous professional development for directors to keep abreast of legal and regulatory developments[83] - The board has established three committees: the remuneration committee, nomination committee, and audit committee, to oversee specific areas of the company's affairs[93] - The company has ensured that all board members have the opportunity to propose agenda items for meetings[86] - The company will notify directors and relevant employees in advance of any trading restrictions related to the company's securities[89] - The company has adopted a board diversity policy to enhance performance, ensuring a balanced composition in terms of skills, knowledge, and experience as of April 30, 2021[105] - The Nomination Committee held two meetings during the year, reviewing the board's structure and recommending the re-election of retiring directors[106] - The Remuneration Committee conducted two meetings to review the company's existing remuneration policies and proposed recommendations to the board regarding the compensation of directors and senior management[111] - The annual salary range for senior management members, including executive directors, was reported, with three individuals earning between 0 to 1,000,000 HKD[112] - The board confirmed its responsibility for preparing the financial statements for the year ending April 30, 2021, ensuring clarity and transparency in reporting[116] - There were no significant uncertainties that could raise doubts about the company's ability to continue as a going concern[117] Risk Management and Internal Control - The risk management and internal control system is designed to protect assets from misappropriation and unauthorized transactions, ensuring operational risk management[118] - The board of directors is responsible for evaluating and determining the nature and extent of risks acceptable to the company in achieving strategic objectives[119] - The audit committee assists the board in overseeing the design, implementation, and monitoring of the risk management and internal control system[119] - The company reported an audit fee of HKD 900,000 for the fiscal year ending April 30, 2021[126] - The risk management and internal control system is reviewed annually, covering financial reporting, internal audit functions, and employee qualifications[119] Environmental and Social Responsibility - During the reporting period, the group generated 886.03 tons of CO2 equivalent greenhouse gas emissions, with a carbon intensity of 0.07 tons of CO2 equivalent per square meter[167] - The overall carbon intensity was 285.8 tons of CO2 equivalent per million products sold, indicating a focus on improving production efficiency and sustainability[167] - The group has eliminated all fossil fuel vehicles in response to China's national policy for peak emissions by 2030 and carbon neutrality by 2060, resulting in zero direct air emissions during the reporting period[164] - The group plans to enhance its product development capabilities by hiring and training more design and technical professionals, aiming to meet diverse customer needs[162] - The group is committed to balancing product quality, profitability, environmental protection, labor management, and community investment to maximize stakeholder satisfaction[158] - The group has implemented key performance indicators (KPIs) for measuring and comparing environmental and social impacts, ensuring transparency in reporting[142] - The group has engaged stakeholders through various channels to identify significant issues that may pose risks to business continuity, including shareholder meetings and surveys[145] - The group aims to strengthen its market position and long-term market share by exploring new business opportunities and expanding its sales network[159] - The group adheres to environmental protection laws and regulations, with no significant violations reported during the reporting period[163] - Total greenhouse gas emissions amounted to 886.03 tons of CO2 equivalent, with 98.67% from purchased electricity[169] - The total energy consumption for the reporting period was 1,087,160 kWh, with a 3% reduction in energy density to 350,697 kWh per million products sold[182] - The total water usage was 11,444 cubic meters, with a water density of 0.95 cubic meters per square meter[183] - The company produced approximately 1,251 kg of non-hazardous waste, primarily from used office paper[175] - The company plans to implement an environmental management system to identify significant environmental impacts and improve overall environmental performance[189] - The company consumed about 20 tons of packaging materials during the reporting period, with a density of 6.45 tons per million products sold[186] - The company has adopted a new carbon emission factor of 0.8042 for calculating emissions from purchased electricity in Guangdong, China[170] - The company recycled 0.006 tons of waste paper during the reporting period[177]
濠亮环球(08118) - 2021 - 年度财报