Business Segments - The Group's revenue is derived from six main business segments: OEM, Retail, Money Lending, Wholesaling, Financial Education, and Property Investment[27] - The OEM business includes product design, raw materials sourcing, manufacturing, and quality control management[27] - The Retail business focuses on cashmere apparel and accessories marketed under the Group's own and high-end fashion brands[27] - The Money Lending business provides financing to customers, generating interest income[27] - The Wholesaling business involves the distribution of seafood products[27] - The Financial Quotient and Investment Education business offers courses for tuition fees[27] - The Group's property investment business contributes to its overall revenue[27] Financial Performance - The Group's revenue increased from approximately HK$74.3 million for the year ended 31 March 2020 to approximately HK$96.5 million for the year ended 31 March 2021, representing an increase of approximately 29.9%[38] - Revenue from the OEM Business significantly decreased by approximately 40.8% to approximately HK$23.8 million for the year ended 31 March 2021 compared to the previous year[38] - Revenue from the Retail Business significantly decreased by approximately 94.8% to approximately HK$0.4 million for the year ended 31 March 2021 compared to the previous year[38] - The Money Lending Business generated interest income of approximately HK$4.1 million, representing an increase of approximately 57.5% compared to the last financial year[34] - The Financial Quotient and Investment Education Business generated revenue of approximately HK$68.1 million, representing an increase of approximately 21,730.1% compared to the last financial year[34] - The Group's cost of sales decreased by approximately 54.6% to approximately HK$30.2 million for the year ended 31 March 2021 compared to the previous year[42] - Selling and administrative expenses increased to approximately HK$29.2 million for the year ended 31 March 2021, up from HK$18.5 million in the previous year, representing an increase of approximately HK$10.7 million[44] - The profit for the year ended 31 March 2021 was approximately HK$40.4 million, compared to a loss of approximately HK$34.0 million for the year ended 31 March 2020[44] Strategic Initiatives - The Group aims to expand its retail network in Hong Kong for better market penetration[27] - The management is focused on enhancing the financial education offerings to attract more customers[27] - The Group aims to strengthen its customer base in the OEM Business and expects better control of costing with the implementation of the new operation model[35] - The Group will continue to monitor consumer behavior in the Retail Business and adjust its business plan as necessary due to the impact of the coronavirus outbreak[35] - The Group plans to expand its share in the financial quotient and investment education market and broaden its customer base[35] - The Group is seeking opportunities for asset appreciation and cash flow return in the property market within Hong Kong and the Asia-Pacific region[35] - The Group's management remains positive towards the long-term prospects of the Retail Business despite current uncertainties[35] Acquisitions and Disposals - The group disposed of an inactive subsidiary during the year, generating a gain of approximately HK$99,000[49] - The acquisition of Zone Galaxy Limited was completed for a consideration of HK$40 million, to be satisfied by the issuance of promissory notes[50] - Able Glorious agreed to acquire 70% equity interest in Prestige Concord Limited for HK$80,000,000, with HK$41,000,000 paid via promissory notes, HK$29,000,000 through liability assumption, and HK$10,000,000 in cash[52] - The acquisition was completed on 31 March 2021, making Prestige Concord Group a wholly owned subsidiary, focusing on financial quotient and investment experience-sharing seminars in Hong Kong[52] - As of 31 March 2021, there were no significant investments or material acquisitions or disposals of subsidiaries and affiliated companies during the year[53] Human Resources - The Group had approximately 60 employees as of 31 March 2021, an increase from 30 employees in 2020[59] - The Group offers competitive remuneration packages and various training courses to attract and retain high-quality staff[135] - The remuneration of Directors and senior management for the year ended March 31, 2021, included six individuals earning below HK$1,000,000[133] - The emoluments of Directors and senior management are reviewed by the Remuneration Committee based on the Group's operating results and market competitiveness[135] Corporate Governance - The Company has arranged appropriate directors' and officers' liability insurance coverage for its Directors and officers[109] - The Company has fully complied with all applicable provisions of the Corporate Governance Code for the year ended 31 March 2021, except for certain deviations[179] - The Board currently comprises eight members, including three executive Directors and four independent non-executive Directors[181] - The Audit Committee was established on September 25, 2014, and consists of 3 independent non-executive Directors[171] - The Company emphasizes the importance of internal control and risk management systems in its operations[193] Dividends - The Group declared an interim dividend of HK$0.0066 per share, totaling approximately HK$10,137,494.40 for the nine months ended 31 December 2020[94] - The Board recommended a final dividend of HK$0.0072 per share, totaling approximately HK$11,059,084.80 based on 1,535,984,000 issued shares as at 31 March 2021[98] - The final dividend will be paid in three installments of HK$3,532,763.20, HK$3,686,361.60, and HK$3,839,960.00 on 12 August 2021, 25 August 2021, and 24 September 2021 respectively[98] - The interim dividend was paid in three equal installments of HK$3,379,164.80 each on 23 April 2021, 25 May 2021, and 25 June 2021[94] Compliance and Relationships - The Group complied with relevant laws and regulations during the year ended 31 March 2021, with no material breaches reported[107] - The Group maintained good relationships with suppliers, customers, and stakeholders, with no significant disputes reported during the year[108] - No significant related party transactions were entered into during the year ended March 31, 2021, except for key management personnel compensation[162] Investments - The Group's investment performance for the year ended 31 March 2021 in respect of equity securities listed in Hong Kong and New York is detailed in the financial statements[69] - The Group recorded an unrealized fair value loss of approximately HK$0.3 million in respect of its investment in Ju Teng for the year ended March 31, 2021[73] - The fair value of investments as of April 1, 2020, was HK$7,850,000[71] - The management will continue to monitor the performance and share price of Ju Teng[73] Shareholder Information - As of March 31, 2021, Chan Lap Jin Kevin holds 154,644,000 shares, representing 10.07% of the company's issued shares[142] - Yuen Yu Sum has 10,000,000 share options granted on July 14, 2020, which accounts for 0.65% of the company's issued shares[145] - Chung Chin Kwan holds 4,872,000 shares and has an additional interest of 720,000 shares owned by his spouse, totaling 5,592,000 shares, or 0.37% of the company's issued shares[142] - Law Wing Chung owns 960,000 shares, which is 0.06% of the company's issued shares[142] - Strong Light owns 299,694,000 shares, representing 19.6% of the company's issued share capital[155] - Lau Lan Ying and Wong Kwan Mo each hold 249,994,000 shares, accounting for 16.3% of the company's issued share capital[156] - The company did not purchase, sell, or redeem any of its shares during the year ended March 31, 2021[162] - The company maintained sufficient public float as required by GEM Listing Rules as of the date of the annual report[167]
传承教育集团(08195) - 2021 - 年度财报