Financial Performance - The total revenue for the fiscal year ended March 31, 2021, decreased by approximately HKD 60.5 million or 69.5% to about HKD 26.6 million from approximately HKD 87.1 million for the fiscal year ended March 31, 2020[8]. - The net loss increased from approximately HKD 21.9 million for the fiscal year ended March 31, 2020, to approximately HKD 28.9 million for the fiscal year ended March 31, 2021[9]. - Total revenue decreased by approximately HKD 60.5 million or 69.5% to about HKD 26.6 million for the year ended March 31, 2021, compared to approximately HKD 87.1 million for the previous year[15]. - Net loss increased by approximately HKD 7 million or 32.1% to about HKD 28.9 million for the year ended March 31, 2021, from approximately HKD 21.9 million for the previous year[24]. - Gross profit decreased by approximately HKD 4.8 million or 67.2% to about HKD 2.4 million for the year ended March 31, 2021, from approximately HKD 7.2 million for the previous year[18]. - Other income increased from approximately HKD 363,000 to about HKD 1.5 million, mainly due to subsidies received under the Employment Support Scheme[20]. - Administrative expenses increased by approximately HKD 3.9 million or 14.7% to about HKD 30.2 million for the year ended March 31, 2021, from approximately HKD 26.3 million for the previous year[21]. - Financing costs decreased by approximately HKD 400,000 or 12.1% to about HKD 2.6 million for the year ended March 31, 2021, compared to approximately HKD 3 million for the previous year[22]. - Total assets decreased to approximately HKD 117.6 million as of March 31, 2021, from approximately HKD 155.1 million as of March 31, 2020[28]. - The debt-to-equity ratio increased from approximately 55.6% to about 77.1% due to the net loss for the year ended March 31, 2021[29]. - The company reported a reserve available for distribution to shareholders of approximately HKD 26,201,000 as of March 31, 2021, down from HKD 58,954,000 in 2020[173]. - The company did not declare a final dividend for the year ended March 31, 2021, consistent with the previous year[168]. Business Environment and Strategy - The company anticipates that the ongoing COVID-19 pandemic will continue to impact the business environment in Hong Kong and Macau in the foreseeable future[10]. - The company plans to explore business diversification or expansion into Hong Kong, Macau, and mainland China to maintain sustainable growth[10]. - The company acknowledges challenges such as high labor costs and skilled labor shortages due to travel restrictions caused by the pandemic[10]. - The company remains optimistic about the long-term business prospects in Hong Kong and Macau despite the adverse factors affecting financial performance, especially in the first half of the fiscal year 2021/2022[10]. - The company will closely monitor the economic environment and continuously assess its business strategies to adapt to challenging market conditions[10]. Corporate Governance - The board consists of six directors, including four executive directors and two independent non-executive directors, with a gender diversity of 71% male and 29% female[48][53]. - The company has complied with all applicable corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[46][42]. - The board acknowledges the importance of diversity in enhancing corporate governance and improving board efficiency[52]. - The company has adopted a board diversity policy to ensure a balanced composition of skills and experiences among board members[54]. - The company has established a remuneration committee to review the overall remuneration policy and structure for all directors and senior management[200]. - The company has adopted a nomination policy to enhance the nomination process and guide the selection of board members[74]. - The company emphasizes the importance of continuous professional development for directors to enhance their knowledge and skills[63]. - The company has not identified any violations of the securities trading code by directors during the fiscal year[61]. - The company is committed to maintaining high standards of corporate governance and has established various committees to oversee specific matters[66]. Employee and Labor Practices - As of March 31, 2021, the group employed 29 employees, a decrease from 37 employees in 2020, with total employee costs amounting to approximately HKD 10.4 million, down from HKD 16.2 million in 2020[40]. - The employee remuneration policy includes competitive salaries and performance-based bonuses, along with retirement and medical benefits[40]. - The company emphasizes equal employment opportunities and adheres to labor laws, ensuring fair treatment in hiring and promotion processes[124]. - The company has complied with all employee compensation and welfare regulations, with no employment disputes or violations reported during the reporting period[128]. - The company has established a safe and healthy work environment, with no recorded incidents of workplace injuries or health hazards during the reporting period[130]. - The company emphasizes continuous employee development and training, supporting participation in internal and external training programs[132]. - The management structure of the company remains stable, indicating a phase of seeking potential business growth[125]. Environmental Responsibility - The company is committed to sustainable development and aims to minimize environmental impact during operations[100]. - Total greenhouse gas emissions decreased by 10.7% from 29.59 tons in 2019/20 to 26.41 tons in 2020/21[103]. - Indirect emissions from electricity usage reduced by 10.8%, from 29.56 tons in 2019/20 to 26.38 tons in 2020/21[103]. - The company has implemented measures to monitor and reduce energy consumption in its Hong Kong office to lower operational costs and greenhouse gas emissions[106]. - The company has established policies to ensure responsible business practices and compliance with legal and regulatory standards[100]. - The company has implemented waste management practices prioritizing reduction, reuse, and recycling, with construction waste being sorted and recycled whenever possible[109]. - The company has engaged with subcontractors to manage emissions effectively, demonstrating a proactive approach to environmental responsibility[113]. - The company continues to monitor resource usage closely, particularly in energy and water, to enhance efficiency and reduce consumption[116]. Risk Management - The company emphasizes the importance of effective internal controls and risk management to protect shareholder interests, with regular reviews conducted by the audit committee[79]. - The company has established a series of risk management policies and measures to identify key risks associated with its operations and market environment[79]. - The board believes that the internal control systems are effective and sufficient for the current business model and environment as of March 31, 2021[81]. Shareholder Engagement - The company encourages ongoing communication with shareholders through various channels, including announcements and reports[93]. - The next annual general meeting is scheduled for September 3, 2021, with notifications to be sent at least 20 business days in advance[87]. - The company held its annual general meeting on August 28, 2020, to seek shareholder approval for various matters, including the re-election of directors[87]. Quality Assurance - The company has implemented strict quality assurance measures for its water circulation systems, ensuring compliance with government regulations and reducing risks associated with defective products[141]. - There were no quality claims reported during the reporting period that adversely affected the company's business[142]. Community Engagement - Community engagement is recognized as vital for long-term development, with the company supporting employee volunteerism and investing in youth education through internship programs[149].
浩柏国际(08431) - 2021 - 年度财报