Financial Performance - The company's revenue for the fiscal year 2021 was approximately HKD 54.0 million, a decrease of about 0.9% compared to HKD 54.5 million in fiscal year 2020[8]. - The after-tax loss for fiscal year 2021 was HKD 3.5 million, an increase from a loss of HKD 0.5 million in fiscal year 2020, primarily due to an increase in employee costs by HKD 5.7 million[8]. - Revenue from the Hong Kong Stock Exchange accounted for 91.4% of total revenue in fiscal year 2021, increasing from 79.0% in fiscal year 2020[15]. - Other income rose from approximately HKD 0.1 million in fiscal year 2020 to about HKD 1.6 million in fiscal year 2021, representing an increase of approximately 1500%, mainly due to government subsidies related to COVID-19[16]. - The decrease in overall revenue was primarily attributed to reduced trading volumes on the Singapore Exchange and in over-the-counter transactions, which offset the increase in trading volume on the Hong Kong Stock Exchange[14]. Employee Costs and Staffing - Employee costs increased from approximately HKD 30.3 million in FY2020 to approximately HKD 39.3 million in FY2021, representing a growth of about 29.7%[17]. - The group employed a total of 29 staff as of March 31, 2021, compared to 28 staff as of March 31, 2020[44]. - Employee headcount increased from 24 in FY2020 to 29 in FY2021, representing a growth of 20.83%[164]. - Employee turnover rate decreased significantly from 25% in FY2020 to 10% in FY2021, indicating improved employee retention[164]. - Average training hours per employee were 4 hours for females (38% trained) and 6 hours for males (57% trained) in FY2021[165]. Financial Stability and Ratios - As of March 31, 2021, the current ratio was approximately 17.8 times, up from 11.1 times on March 31, 2020, indicating strong financial stability[23]. - The interest coverage ratio was approximately (38.9) times in FY2021, compared to (3.1) times in FY2020, reflecting sufficient resources to meet operational needs[24]. - Cash and bank balances amounted to approximately HKD 63.6 million as of March 31, 2021, compared to HKD 56.6 million as of March 31, 2020[23]. - The group maintained a cautious inventory policy, ensuring a robust liquidity position throughout FY2021[31]. - The company maintained a net cash position with no bank borrowings as of March 31, 2021, and March 31, 2020[193]. Strategic Initiatives and Future Outlook - The company anticipates a challenging environment for fiscal year 2022 due to ongoing impacts from COVID-19 and U.S. sanctions against China[8]. - The company aims to expand its product offerings and recruit new employees to capture a larger market share despite future market challenges[8]. - The company plans to use the remaining unutilized proceeds in favorable market conditions as per the prospectus[50]. - The management has provided an optimistic outlook, projecting a 12% growth in earnings for the next fiscal year[80]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[76]. Governance and Compliance - The board of directors complies with GEM Listing Rules by appointing at least three independent non-executive directors, constituting at least one-third of the board[88]. - All independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules[89]. - The company supports the division of responsibilities between the chairman and the CEO to ensure a balance of power[93]. - The company has adopted a board diversity policy to enhance performance, with the nomination committee overseeing its implementation[117]. - The company has established written guidelines for employees who may possess insider information regarding the company's securities[106]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report outlines the company's policies and performance in sustainable development and corporate social responsibility for the fiscal year 2021[141]. - The company has set various ESG performance goals and indicators, which will be reviewed annually to ensure continuous improvement[149]. - Total greenhouse gas emissions decreased from 56 tons CO2e in FY2020 to 48 tons CO2e in FY2021, representing a reduction of approximately 14.29%[156]. - The company has implemented resource-saving measures, including energy-efficient appliances and water conservation practices, to promote green operations[162]. - The company emphasizes employee rights and compliance with local labor laws, investing in employee development to strengthen its workforce[163]. Risk Management - The company has established a new risk management framework to mitigate potential market volatility impacts[83]. - The board is responsible for risk management and internal control systems, which are reviewed annually to ensure effectiveness[127]. - No significant internal control deficiencies were reported in the fiscal year 2021, indicating a robust internal control environment[128]. - The company adheres to strict data protection regulations, ensuring customer privacy and security of personal data[171]. - The company has a zero-tolerance policy towards corruption and bribery, with established control procedures to monitor customer activities[172]. Shareholder Communication - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[134]. - The company has established a platform for communication with shareholders and investors through its website[134]. - The company ensures transparency and timely disclosure of information to facilitate optimal investment decisions by shareholders[134]. - The company invites auditors to attend the annual general meeting to address shareholder inquiries regarding audit work and accounting policies[135]. - The company has committed to providing high-quality information regarding its latest developments to shareholders[134].
衍汇亚洲(08210) - 2021 - 年度财报