Financial Performance - The company's revenue for the fiscal year ended March 31, 2019, decreased by approximately 13.3% to HKD 58.9 million, down from HKD 67.9 million in 2018[10] - The company recorded a loss attributable to shareholders of approximately HKD 7.0 million for the fiscal year 2019[10] - The operating loss for the fiscal year 2019 was HKD 6.571 million, compared to an operating profit of HKD 11.268 million in 2016[10] - The company's gross profit for the fiscal year 2019 was HKD 17.538 million, down from HKD 23.965 million in 2018[10] - The gross profit decreased by approximately 27.1% to about HKD 17.5 million, with a gross margin dropping from approximately 35.3% to about 29.8% due to competitive pricing pressures[24] - The group recorded a loss attributable to the owners of the company of approximately HKD 7.0 million, compared to a profit of about HKD 8.6 million in the previous year after excluding one-time listing expenses[28] - The sales cost decreased by approximately 5.9% to about HKD 41.4 million, aligning with the revenue decline[23] Assets and Liabilities - Total assets as of March 31, 2019, amounted to HKD 55.036 million, a decrease from HKD 61.519 million in 2018[11] - Total liabilities increased to HKD 4.181 million in 2019 from HKD 3.621 million in 2018[11] - The company’s total equity as of March 31, 2019, was HKD 50.855 million, down from HKD 57.898 million in 2018[11] - As of March 31, 2019, the group's cash and bank balance was approximately HKD 31.3 million, down from HKD 41.6 million in 2018[30] - The total assets of the group as of March 31, 2019, were approximately HKD 55.0 million, compared to HKD 61.5 million in 2018, while net assets were approximately HKD 50.9 million, down from HKD 57.9 million[30] Expenses - Sales and distribution expenses increased to approximately HKD 11.7 million, a rise of about 74.6% from HKD 6.7 million in the previous year, primarily due to increased marketing team size and promotional expenses[25] - Administrative and other operating expenses increased by approximately 77.6% to about HKD 15.1 million, mainly due to the expansion of the management team and increased e-commerce operational costs[26] - The company’s financing costs for the fiscal year 2019 were HKD 25, a decrease from HKD 74 in 2018[10] - The total employee benefit expenses, including remuneration for executive directors, amounted to approximately HKD 9.3 million for the year, an increase from HKD 5.8 million in 2018[33] Corporate Governance - The company emphasizes good corporate governance to enhance shareholder value[57] - The board of directors is responsible for overseeing the group's business affairs and overall performance management, ensuring necessary financial and human resources are in place to achieve the group's objectives[61] - The company has adopted the corporate governance code as per GEM listing rules, ensuring compliance with all applicable provisions throughout the year[59] - The board consists of a balanced mix of executive and independent non-executive directors, with independent directors making up 50% of the board, exceeding the GEM listing requirement[69] - The company provides ongoing professional development for directors, ensuring they understand their responsibilities and the regulatory environment[71] - The board has established various committees, including audit, remuneration, nomination, and risk management, to delegate specific responsibilities[61] Shareholder Information - The board did not recommend the payment of a final dividend for the year, consistent with the previous year[43] - The company has established a dividend policy, considering the balance between maintaining sufficient funds for business development and returning value to shareholders[82] - The board will continuously review the dividend policy and retains the absolute discretion to update or cancel it at any time[84] - The company has a distributable reserve of HKD 14.6 million as of March 31, 2019, down from HKD 22.6 million in 2018[136] E-commerce and Market Expansion - The launch of the company's own online sales platform aimed to increase sales channels[12] - The e-commerce segment recorded a revenue growth of approximately 43.5% compared to the previous fiscal year, contributing about 11.4% to total revenue, up from 6.9%[15][20] - The group actively participated in major trade shows to expand its customer base, including events in Las Vegas, Paris, and Frankfurt[21] - The company plans to closely monitor the impact of the US-China trade war on its business plans, particularly regarding the establishment of liaison offices in Europe and the US[133] Risk Management - The company has appointed an external independent consultant to review the effectiveness and adequacy of its risk management and internal control systems for the year[111] - The company has confirmed the effectiveness and adequacy of its existing risk management and internal control systems following an annual review by the board[111] Stock Options and Remuneration - The company has established a remuneration committee to review the remuneration policy for directors and senior management based on operational performance and market standards[159] - The share option scheme was adopted to incentivize directors and eligible employees, as approved by shareholders on September 22, 2017[160] - The maximum number of shares available for subscription under the share option scheme is capped at 10% of the total issued shares post-completion of the share issuance, equating to 100,000,000 shares[166] - The total remuneration for the independent auditor, Roshan Mei CPA, for the year 2019 was HKD 700,000, compared to HKD 2,215,000 in 2018, indicating a decrease of approximately 68.4%[106] Operational Developments - The company achieved significant milestones, including the renovation of the Shenzhen exhibition hall and the establishment of a quality control laboratory[12] - The quality control laboratory commenced operations, enhancing product quality assurance and the development of new production technologies[21] - The company has allocated HKD 4.0 million for enhancing design and development capabilities, with HKD 0.7 million utilized in the current year[132] - The company has strengthened its quality assurance capabilities with HKD 4.7 million allocated, of which HKD 4.1 million has been utilized[132] - The company aims to enhance brand recognition and reputation, with HKD 6.3 million allocated and HKD 2.9 million utilized[132] Employee Information - The group employed a total of 34 full-time employees as of March 31, 2019, an increase from 30 employees in 2018[33]
舍图控股(08392) - 2019 - 年度财报