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皇玺集团(08300) - 2019 - 年度财报
ROYALGPHLGROYALGPHLG(HK:08300)2019-06-28 11:38

Financial Performance - For the fiscal year ending March 31, 2019, the company reported total revenue of HKD 92,662,000, a decrease of 10.8% from HKD 103,882,000 in 2018[13]. - The company experienced a pre-tax loss of HKD 15,909,000 compared to a profit of HKD 1,636,000 in the previous year[13]. - The total comprehensive loss attributable to owners of the company was HKD 18,377,000, significantly higher than the loss of HKD 423,000 in 2018[13]. - The company's revenue decreased by approximately 10.8% from HKD 103.9 million for the year ended March 31, 2018, to HKD 92.7 million for the year ended March 31, 2019, primarily due to the closure of expired restaurants[19]. - Gross profit decreased by approximately 10.8% from HKD 84.9 million to HKD 75.7 million, mainly due to the closure of expired restaurants[21]. - The company recorded a loss of approximately HKD 17,400,000 for the year ended March 31, 2019, compared to a profit of approximately HKD 1,200,000 for the same period in 2018, attributed to several factors including restaurant closures and increased administrative expenses[34]. Assets and Liabilities - As of March 31, 2019, total assets amounted to HKD 165,718,000, down from HKD 193,912,000 in 2018, reflecting a decrease of 14.5%[13]. - Current assets decreased to HKD 104,330,000 from HKD 176,050,000, indicating a decline of 40.7%[13]. - Total equity decreased to HKD 133,762,000 from HKD 147,575,000, representing a reduction of 9.4%[13]. - The total borrowings of the group as of March 31, 2019, were approximately HKD 10,100,000, down from HKD 29,400,000 as of March 31, 2018[51]. - The capital debt ratio of the group as of March 31, 2019, was approximately 8.0%, a decrease from 21.0% as of March 31, 2018[54]. Operational Strategy - The company plans to strengthen its position in the Hong Kong dining sector and seek opportunities to expand its brand presence in both the airport and urban markets[10]. - The company aims to enter the Asian casual dining market, aligning with its growth strategy and shareholder interests[10]. - The company has established a network of self-owned brands and franchises, including "Taiwan Beef Noodle" and "Flamingo Bloom," to enhance its market offerings[10]. - The company has obtained franchise rights for three well-known dining brands in Hong Kong, aiming to strengthen its position in the airport dining sector and expand its business in urban areas[17]. - The company plans to continue opening new restaurants and expanding its network, with expectations of gradual increases in property rental and related expenses in the future[27]. Employee and Cost Management - Employee costs were stable at approximately HKD 32.7 million in 2018 and HKD 32.8 million in 2019, with a reduction in employee count from 171 to 131 due to restaurant closures[24]. - The company is focusing on improving employee productivity and loyalty to mitigate rising employee costs due to local labor law changes and inflationary pressures[24]. - Administrative expenses increased by approximately 39.7% from HKD 17,900,000 for the year ended March 31, 2018, to HKD 25,000,000 for the year ended March 31, 2019, primarily due to restaurant closures and renovation projects[29]. - Cost of goods sold decreased by approximately 11.1% from HKD 19 million to HKD 16.9 million, attributed to the closure of expired restaurants, partially offset by new franchise openings[20]. - Property rental and related expenses decreased by approximately 25.1% from HKD 33.5 million to HKD 25.1 million, primarily due to the closure of expired restaurants[27]. Corporate Governance - The company has adopted the Corporate Governance Code and believes it has complied with the code for the fiscal year, except for a deviation regarding the roles of the chairman and CEO[95]. - The board consists of three executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules[102]. - The company emphasizes high standards of corporate governance to maintain transparency and protect shareholder interests[95]. - The audit committee held four meetings in the fiscal year ending March 31, 2019, reviewing the annual performance and financial reports[110]. - The company has established four board committees: Audit, Remuneration, Nomination, and Investment, ensuring adequate resources for their responsibilities[110]. Future Outlook and Risks - The company faces risks related to revenue fluctuations from its restaurants at Hong Kong International Airport and urban areas, influenced by external factors such as economic downturns and seasonal variations[41]. - The minimum wage in Hong Kong increased from HKD 34.5 to HKD 37.5 per hour effective May 1, 2019, which may further impact future employee costs[41]. - The management will continuously evaluate business objectives and may revise plans in response to market conditions to align with growth[37]. - The group plans to continue exploring market opportunities in Asia for expansion[1]. Shareholder Information - The net proceeds from the IPO amounted to approximately HKD 41,300,000, with only HKD 14,614,000 utilized by March 31, 2019, indicating a significant amount of unspent funds[35]. - Approximately HKD 70,960,000 remains unutilized from the first and second placements, with plans for potential acquisitions and new restaurant openings in Hong Kong[39]. - The company did not recommend any final dividend for the year ended March 31, 2019, consistent with the previous year[158]. - The board has adopted a new dividend policy aimed at providing stable and sustainable returns to shareholders, considering operational performance, cash flow, and financial conditions[136].