Financial Performance - The Group recorded a revenue of approximately HK$130.94 million, representing a decrease of 50.65% compared to the previous year[19] - The audited consolidated loss for the year attributable to owners of the Company amounted to HK$29.87 million, a decrease of approximately 70.48% compared to last year[19] - The decrease in revenue was mainly due to the termination of coal mining services agreements to comply with regulatory measures[19] - The Group's gross profit increased to approximately HK$35.47 million, with a gross profit margin rising from 11.66% in 2020 to 27.09% in 2021[27] - The loss attributable to owners of the Company for the year was approximately HK$29.87 million, a decrease from HK$101.20 million in 2020[34] Revenue Sources - Revenue from coal mining and construction services was approximately HK$111.55 million, accounting for 85.19% of total revenue, with a loss of HK$12.52 million in this segment[35] - The money lending business generated revenue of approximately HK$12.82 million, representing 9.79% of total revenue, with interest rates ranging from 5% to 18% per annum[39] - Revenue from heating supply services was approximately HK$6.58 million, accounting for 5.02% of total revenue, with a loss of approximately HK$1.15 million in this segment[40] - The Group recorded other income of approximately HK$8.85 million, primarily from handling income for coal packing services, government grants, and leasing income[28] Financial Position - The Group maintained a healthy financial position with a cash balance of HK$167.15 million[20] - The Group's cash and cash equivalents as of June 30, 2021, were approximately HK$167.15 million, an increase from HK$122.08 million as of June 30, 2020[64] - The net current assets amounted to approximately HK$348.89 million as of June 30, 2021, compared to HK$343.26 million as of June 30, 2020[64] - The current ratio improved to approximately 3.67 as of June 30, 2021, up from 2.95 times as of June 30, 2020[64] - The gearing ratio decreased to approximately 0.27 as of June 30, 2021, from 0.33 as of June 30, 2020[64] Business Strategy and Future Plans - The Group plans to diversify its income sources and consider venturing into new business areas such as fruit trading[21] - The Group aims to consolidate its business portfolio and create greater value for shareholders[21] - The Group intends to use 80% (approximately HK$160 million) of the proceeds from the 2016 Placing for the development of clean energy services, with the remaining 20% (approximately HK$41 million) for working capital[65] - The Group is actively seeking new investment opportunities in clean energy heat supply services, including potential projects in Tianjin[75] - The Group plans to expand its environmentally friendly heating business in Tianjin and Beijing due to increasing demand for heating systems[60] Risk Management - The Group's operations are subject to various operating risks, including unexpected maintenance issues and natural disasters, which could disrupt operations and damage reputation[110] - The Group's money lending business is exposed to credit risks, particularly as most loans are unsecured, potentially leading to unrecoverable loans[116] - Changes in PRC laws and regulations regarding the mining industry could increase operating costs and adversely affect the Group's financial condition[115] - The Group has adopted a disaster recovery policy to minimize the impact of unexpected disruptions on its mining and construction services[110] - The Group conducts due diligence and implements credit control measures to maintain the quality of its loan portfolio[116] Corporate Governance - The company has a total of eight directors, with four being executive directors and four independent non-executive directors[140] - The board is committed to maintaining high standards of corporate governance to enhance shareholder value and ensure effective risk management[136] - The company has complied with all applicable code provisions of the Corporate Governance Practices throughout the year ended June 30, 2021[137] - The independent non-executive directors bring diverse professional experiences, contributing valuable insights for business development[140] - The Company has established three committees: Remuneration Committee, Nomination Committee, and Audit Committee, to oversee specific areas of corporate governance[160] Audit and Financial Reporting - The statutory audit fee for the Group amounted to HK$1,280,000 for the year[192] - The total fee paid for non-audit services, including tax review, was approximately HK$57,300[192] - The Audit Committee held 4 meetings during the Year, reviewing the Group's quarterly reports and making recommendations regarding financial reporting and internal control procedures[178] - The Audit Committee's meetings included attendance by external auditors to facilitate discussions on financial concerns[178] - The Directors have prepared the consolidated financial statements on a going concern basis, ensuring appropriate accounting policies are applied consistently[188]
都都控股(08250) - 2021 - 年度财报