Financial Performance - L & A International Holdings Limited reported a total revenue of HKD 150 million for the fiscal year 2020, representing a decrease of 10% compared to the previous year[11]. - The company’s net loss for the year was HKD 20 million, which is an improvement from a net loss of HKD 30 million in 2019, indicating a reduction in losses by 33%[11]. - The Group's revenue increased by approximately 3.5% from HK$71.7 million for the year ended 31 March 2019 to HK$74.3 million for the year ended 31 March 2020[30]. - The loss for the year ended 31 March 2020 was approximately HK$34.0 million, compared to a loss of HK$10.1 million for the previous year[38]. - The Group's cost of sales increased by approximately 7.4% to HK$66.6 million for the year ended 31 March 2020[34]. - Selling and administrative expenses decreased by approximately HK$14.9 million to HK$18.5 million for the year ended 31 March 2020[37]. User Engagement and Market Expansion - User data showed a total of 500,000 active users on the platform, an increase of 25% year-over-year[11]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[11]. - New product development includes the launch of a mobile application aimed at enhancing user engagement, expected to be released in Q3 2021[11]. - Future guidance indicates a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion[11]. - The company has established strategic partnerships with local firms in target markets to facilitate smoother entry and expansion[11]. Business Segments - The Money Lending Business generated interest income of approximately HK$2.6 million, representing an increase of approximately 9.2% compared to the previous financial year[20]. - The Wholesaling Business generated revenue of approximately HK$23.4 million for the year ended 31 March 2020, primarily from seafood products[20]. - The Financial Quotient and Investment Education Business generated revenue of approximately HK$0.3 million during the year ended 31 March 2020[20]. - The Group's revenue is derived from six business arms, including OEM Business, Retail Business, Money Lending Business, Wholesaling Business, Financial Quotient and Investment Education Business, and Property Investment Business[81]. Cost Control and Operational Efficiency - Management emphasized a focus on cost control measures, aiming to reduce operational expenses by 15% in the upcoming year[11]. - The Group's restructuring of its sales network aims to minimize operating costs while adapting to the shift towards online shopping[19]. - The Group aims to strengthen its customer base in the OEM Business and expects better cost control with the implementation of the OEM operation model[22]. Investments and Acquisitions - The Group is exploring potential acquisition opportunities to enhance its service offerings and market reach[11]. - On 11 May 2020, the Group agreed to acquire the entire issued share capital of Bewisekid Holding Limited for HK$33,250,000[52]. - The Group established a Property Investment Business and acquired a property in Japan, with promising appreciation potential[20]. - The Group plans to expand its Money Lending Business with a prudent and balanced risk management approach[25]. Financial Position and Liabilities - As of 31 March 2020, the Group's unpledged bank balances and cash decreased by approximately 59.3% to HK$2.1 million[44]. - The Group's total borrowings were HK$16.5 million as of 31 March 2020, resulting in a gearing ratio of approximately 31.4%[44]. - As of March 31, 2020, the Company's distributable reserves amounted to Nil, down from HK$7.6 million in 2019[104]. Corporate Governance and Compliance - The Company has adopted various policies to ensure compliance with the Corporate Governance Code and has fully complied with all applicable provisions for the year ended 31 March 2020[195]. - The Company has established an Audit Committee to oversee internal control procedures and review financial statements[177]. - The Company maintained the amount of public float as required under the GEM Listing Rules as of the date of the annual report[176]. - The Company has confirmed that all Directors complied with the required standards of dealings throughout the year ended 31 March 2020[168]. Shareholder Information - The substantial shareholders include Lau Lan Ying and Wong Kwan Mo, each holding 322,314,800 shares, representing 25.18% of the company's issued share capital[154]. - Strong Light Investments Limited holds 299,694,000 shares, accounting for 23.41% of the company's issued share capital[154]. - Ge Qingfu is a beneficial owner of 128,266,200 shares, which is 10.02% of the company's issued share capital[154]. - Flying Mortgage Limited owns 70,512,000 shares, representing 5.51% of the company's issued share capital[154]. Employment and Remuneration - The group employed approximately 30 individuals, maintaining the same number as in 2019[56]. - The remuneration packages for directors and senior management are regularly reviewed based on the group's operating results and market competitiveness[56]. - For the year ended March 31, 2020, the remuneration of Directors and senior management fell within the band of below HK$1,000,000 for 6 individuals[128]. Environmental and Social Responsibility - The Group is committed to long-term sustainability and has implemented environmentally responsible practices, including energy saving and waste reduction measures[95].
传承教育集团(08195) - 2020 - 年度财报