Financial Performance - The Group recorded a turnover of approximately HK$66.8 million for the year ended 31 March 2021, representing a 56.3% increase compared to the previous year[17]. - The Group incurred a loss of approximately HK$19.4 million, with about HK$10.5 million attributed to impairment of goodwill and intangible assets, which are non-cash items[17]. - Revenue from design, fitting out, and engineering services increased significantly from approximately HK$16.7 million to approximately HK$36.8 million due to new project contracts[18]. - Income from leasing construction equipment amounted to approximately HK$8.6 million, more than double the HK$3.6 million from the previous year, indicating strong growth potential[19]. - The Group recorded a total revenue of approximately HK$66.8 million for the year ended March 31, 2021, representing an increase of approximately HK$24.0 million or 56.3% compared to the previous year[38]. - The Group recorded a gross profit of approximately HK$11.7 million for the year, representing an increase of approximately 113.1% from HK$5.5 million in 2020[47]. - The Group's loss for the year was approximately HK$19.4 million, a decrease of about HK$8.7 million or 31.0% from a loss of HK$28.1 million in 2020[54]. - The Group's total revenue for the year ended 31 March 2021 was approximately HK$66.8 million, an increase of about HK$24 million or 56.3% compared to HK$42.8 million in 2020[44]. Project Contracts and Growth - The Group secured contracts totaling approximately HK$40 million during the year, despite challenges posed by COVID-19[16]. - The Group has successfully bidded for new projects and explored new customer opportunities during the year[18]. - The Group secured design, fitting out, and engineering projects with contract sums of approximately HK$40 million, with HK$30 million awarded through tendering[62]. - The Group is negotiating additional contracts with an aggregate value exceeding HK$40 million and has established positive relationships in the public sector[63][64]. - The Group generated approximately HK$6.7 million in revenue from two public housing renovation contracts that commenced in October 2020, with a contract duration of about 2 years[66]. - The Group is negotiating a contract for scaffolding equipment installation for a public tunnel project, with a contract sum of approximately HK$25 million[71]. Equipment Leasing and Revenue Streams - The leasing of construction equipment is expected to become a sustainable income stream for the Group with steady growth anticipated in the future[19]. - The leasing of construction equipment business has shown progressive growth, with an increase in the number of customers and projects, contributing to stable income generation[65]. - The Group's investment in construction equipment leasing is expected to provide a sustainable revenue source moving forward[22]. - The Group expects steady and recurring income from term contracts related to public housing refurbishment and maintenance services, which are still in force for the upcoming year[25]. Financial Position and Equity - The Group's net current assets increased to approximately HK$25 million as of March 31, 2021, up from HK$17.8 million in 2020[80]. - The current ratio improved to approximately 2.4 times as of March 31, 2021, compared to 2.2 times in 2020, primarily due to proceeds from a rights issue[81]. - The Group raised approximately HK$31.4 million through a rights issue, issuing 104,520,000 rights shares at a subscription price of HK$0.30 per share[82]. - The Group's total equity attributable to owners amounted to approximately HK$93.5 million as of March 31, 2021, compared to HK$83 million in 2020[82]. - The gearing ratio decreased to approximately 14.5% as of March 31, 2021, down from 24.6% in 2020, due to the settlement of lease liabilities[83]. Corporate Governance and Compliance - The company has adopted the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[158]. - The company has established an audit committee, a remuneration committee, a nomination committee, and a compliance committee as per GEM Listing Rules[158]. - The company has internal policies in place to ensure compliance with the Corporate Governance Code[162]. - The Audit Committee held 7 meetings during the year, with all members attending every meeting[200]. - The Company ensures compliance with corporate governance codes and maintains clear delegation of powers[187]. Employee and Operational Matters - Total remuneration for the year ended 31 March 2021 was approximately HK$12.6 million, an increase from HK$11.5 million in 2020, primarily due to an increase in the number of employees[112]. - The Group employed 43 employees as of 31 March 2021, up from 27 in the previous year[111]. - The Group did not recommend the payment of any dividend for the year ended 31 March 2021[105]. Environmental and Safety Measures - The Group has implemented various hygiene and safety measures in response to the COVID-19 pandemic to mitigate operational risks[121]. - The company emphasizes environmental protection and has implemented various practices to comply with environmental regulations and enhance employee awareness[128]. - The company plans to regularly review its environmental practices and consider implementing more eco-friendly measures in its operations[129].
中新控股(08125) - 2021 - 年度财报