Financial Performance - The company's revenue for the fiscal year 2020 was approximately HKD 54.5 million, a decrease of 16.3% compared to HKD 65.1 million in the fiscal year 2019[8]. - The after-tax loss for the fiscal year 2020 was HKD 0.5 million, compared to a profit of HKD 0.2 million in the fiscal year 2019[8]. - The decline in revenue was primarily attributed to reduced trading volumes on the Hong Kong Stock Exchange and the Singapore Exchange[14]. - The total revenue breakdown for fiscal year 2020 included HKD 5.4 million from over-the-counter transactions, representing 9.9% of total revenue[15]. - The group recorded a loss of approximately HKD 457,000 in FY2020, compared to a profit of HKD 0.2 million in FY2019[22]. Revenue Sources - Revenue from the Hong Kong Stock Exchange accounted for 79.0% of total revenue, amounting to HKD 43.0 million, while revenue from the Singapore Exchange was 11.1%, totaling HKD 6.0 million[15]. Operational Strategy - The company plans to expand its product offerings and recruit new staff to capture a larger market share despite ongoing challenges from the COVID-19 pandemic[8]. - The company aims to maintain a balance between stability and continuous innovation to provide quality services to clients and returns to shareholders[8]. - The company is committed to becoming a leading brokerage firm in the region, leveraging existing platforms and resources[8]. Employee and Cost Management - Employee costs decreased from approximately HKD 37.2 million in FY2019 to approximately HKD 30.3 million in FY2020, a reduction of about 18.5%[17]. - Marketing expenses decreased by approximately HKD 0.6 million or 20% to HKD 2.4 million in FY2020, aligning with the decline in group revenue[20]. - The company employed 28 staff as of March 31, 2020, down from 31 staff as of March 31, 2019[42]. Financial Ratios - As of March 31, 2020, the current ratio was approximately 11.1 times, down from 18.0 times in FY2019, indicating a decrease in financial strength[24]. - The interest coverage ratio was approximately (3.1) times in FY2020, a significant drop from 44.3 times in FY2019[24]. Governance and Compliance - The company emphasizes the importance of good corporate governance to maintain transparency and accountability, adhering to the principles outlined in the corporate governance code during the 2020 financial year[78]. - The board believes that the company has complied with the corporate governance code provisions during the 2020 financial year[79]. - The company is focused on compliance and risk management, ensuring adherence to regulatory requirements[51]. - The board consists of executive directors, non-executive directors, and independent non-executive directors, complying with GEM listing rules regarding independence and qualifications[83][85]. Risk Management - The board is responsible for evaluating and maintaining effective risk management and internal control systems, which are reviewed annually[123]. - The company has established risk management procedures and guidelines, with regular assessments to ensure compliance with monitoring policies[124]. Environmental and Social Responsibility - The ESG report outlines the company's policies and performance in achieving sustainable development and fulfilling corporate social responsibility for the period from April 1, 2019, to March 31, 2020[138]. - The company actively communicates with stakeholders to understand their concerns and expectations regarding environmental and social development[142]. - Total greenhouse gas emissions for the fiscal year 2020 were 56 tons of CO2 equivalent, a slight increase from 55 tons in 2019[148]. Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and ensure transparency in disclosing company information[130]. - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting within two months of the request[131]. Dividend Policy - The board has decided not to recommend any final dividend for the fiscal year 2020[175]. - The group has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future growth[177].
衍汇亚洲(08210) - 2020 - 年度财报