Financial Performance - For the fiscal year ending March 31, 2021, the company reported total revenue of HKD 379,023,000, a slight increase of 2% from HKD 370,511,000 in the previous year[6] - The company's profit before tax decreased to HKD 24,758,000, down 29% from HKD 34,930,000 in the prior year[6] - Net profit attributable to the owners of the company was HKD 24,967,000, a decrease of 17% compared to HKD 30,072,000 in the previous year[6] - Total assets increased significantly to HKD 446,204,000, up 37% from HKD 326,969,000 in the previous year[7] - Total liabilities also rose to HKD 288,081,000, an increase of 40% from HKD 205,902,000 in the previous year[7] - The company reported a revenue of HKD 70,124 from Chinese cuisine, with an average spending of HKD 197.3 per customer[43] - The company recorded a revenue of approximately HKD 379,023,000 for the year ended March 31, 2021, representing a 2.3% increase compared to the previous year[61] - The revenue growth was attributed to the opening of new restaurants, including locations in Tung Chung, Tuen Mun, and Shanghai, among others[62] - The average daily revenue per restaurant reached 90% of pre-COVID levels by March 2021, with significant fluctuations due to social distancing measures[66] - The company received a total of HKD 32,000,000 from the Hong Kong government's anti-epidemic fund, recorded as other income in the consolidated income statement[67] - Rent concessions received from landlords amounted to approximately HKD 6,500,000 during the year ended March 31, 2021[68] Customer Engagement and Operations - The total number of customers served in the restaurant operations for the year ended March 31, 2021, was 2,148,294, a decrease of 284,044 customers or 11.7% compared to the previous year[43] - The average spending per customer increased from HKD 152.3 to HKD 176.4, and when excluding snack and dessert businesses, it rose to HKD 184.5[43] - User data indicates a rise in customer engagement, with a 20% increase in repeat customers compared to the previous year[106] - The company faced significant impacts on customer numbers due to COVID-19 restrictions, including limits on table sizes and dining hours[44] Expansion and Development - The group opened six new restaurants during the fiscal year ending March 31, 2021, increasing the total number of restaurants from 28 to 33[34] - The group plans to expand into the Southeast Asian market at an appropriate time to explore overseas opportunities[24] - The group plans to open new restaurants in Shanghai and Hong Kong in 2021, with specific locations and expected opening dates outlined[37] - The company is actively negotiating new potential locations for expansion beyond the three committed new leases[87] - The company is expanding its market presence by opening 10 new locations across Asia in the upcoming year[106] - New product development includes the launch of a premium dining experience, expected to contribute an additional HKD 500 million in revenue[106] - A strategic acquisition of a local restaurant chain is in progress, which is anticipated to enhance market share by 10%[106] Cost Management and Financial Strategy - The company implemented various cost-saving measures and benefited from government relief funds to mitigate financial impacts[23] - The cost of materials and consumables was HKD 115,390,000, accounting for 30.4% of total revenue, an increase of 14.5% from the previous year[69] - Employee costs were HKD 108,724,000, representing 28.7% of total revenue, a slight decrease of 0.5% compared to the previous year[69] - The company plans to utilize the net proceeds from the recent placement for general corporate purposes and restaurant business expansion, particularly in China[61] - The board anticipates that the net proceeds will be utilized within the next twelve months, subject to market conditions[61] Corporate Governance - The board of directors has confirmed the independence of all independent non-executive directors in accordance with GEM listing rules[127] - The company has established service agreements with executive directors for a term of three years, effective from January 17, 2021[127] - The board consists of five members, including two executive directors and three independent non-executive directors[184] - The company has complied with the corporate governance code as per GEM listing rules for the fiscal year ending March 31, 2021[182] - The board is responsible for overseeing the internal control system and risk management functions[194] - The company will continue to promote good corporate governance to attract investments and protect shareholder rights[180] Employee Management and Training - The company has a focus on human resources management, with a general manager responsible for this area since March 2018[109] - Employee training programs have been enhanced, with a focus on improving service quality, which is expected to increase customer satisfaction ratings by 30%[106] - Directors receive regular updates on relevant legal, regulatory, and compliance developments through written training materials[199] Shareholder Information - The proposed final cash dividend is HKD 0.04 per share, with a payout ratio of 42.7% based on adjusted profit attributable to shareholders of approximately HKD 36,258,000[85] - The company reported a cash dividend of HKD 0.04 per share for the fiscal year ending March 31, 2021, compared to HKD 0.015 per share for the previous year[118] - As of March 31, 2021, the company's distributable reserves amounted to HKD 41,208,000, an increase from HKD 29,039,000 in 2020[121] Risk Management - The company has faced potential risks and uncertainties, which are detailed in the consolidated financial statements[117] - The company has not disclosed any related party transactions that required disclosure under GEM listing rules for the year ended March 31, 2021[158]
尝高美集团(08371) - 2021 - 年度财报