Financial Performance - The company recorded a revenue growth of 4.5% for the fiscal year ending March 31, 2021, despite a challenging retail environment due to COVID-19[17]. - Profit attributable to the company's owners increased by approximately 44.3% from about HKD 22.9 million to approximately HKD 33 million for the fiscal year ending March 31, 2021[17]. - The group's revenue for the year ended March 31, 2021, was approximately HKD 148,900,000, an increase of about 4.5% from HKD 142,500,000 in the previous year[22]. - Gross profit for the same period was approximately HKD 97,900,000, reflecting a 7.1% increase from HKD 91,400,000 in the prior year[22]. - Profit attributable to the company's owners for the year was approximately HKD 27,100,000, a significant increase of about 71.2% from HKD 15,900,000 in the previous year[22]. - Revenue growth was primarily driven by an increase in online sales, which rose by approximately HKD 10,500,000, despite a decrease in retail store sales by about HKD 2,700,000[24]. - The gross profit margin improved from approximately 64.2% to 65.8%, attributed to a higher proportion of sales from exclusive and self-branded products[27]. - Other income increased significantly to approximately HKD 3,600,000, up from HKD 200,000, mainly due to foreign exchange gains and government subsidies[28]. - Selling and distribution expenses decreased by approximately 5.9% to about HKD 32,600,000, primarily due to reduced marketing expenses and employee costs[29]. - The effective tax rate for the year ended March 31, 2021, was approximately 16.6%, lower than the previous year's 23.5%, due to non-taxable government subsidies[32]. Online Sales and Digital Strategy - Online sales revenue increased by 96.1% as the company enhanced its self-operated online store and digital customer services[17]. - The company has completed the upgrade and enhancement of its self-operated online store, integrating it with the sales point system[57]. - The company has increased staff to handle customer service and orders for the self-operated online store due to anticipated increases in online customer traffic[59]. - The management team emphasized a focus on digital marketing strategies, aiming for a 40% increase in online sales[1]. Retail Expansion and Operations - The company plans to gradually implement its retail store expansion plan while improving operational efficiency[18]. - The company will focus on enhancing retail store services and launching new products to improve customer shopping experiences[18]. - The company has been actively seeking suitable locations for new retail stores in Kowloon Bay, Mong Kok, Kwun Tong, and Causeway Bay since its listing[50]. - The company plans to open two new retail stores in Hong Kong, closely monitoring the market environment for prudent and cost-effective expansion[53]. - The company successfully opened a new retail store in Kwun Tong in April 2019, following the relocation of its original store in Causeway Bay to a larger space[50]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.006 per share for the fiscal year ending March 31, 2021[17]. - The company proposed a final dividend of HKD 0.006 per share, totaling approximately HKD 6,700,000, compared to no dividend in the previous year[22]. - The board of directors approved a dividend payout of $0.50 per share, reflecting confidence in the company's financial health[1]. Governance and Compliance - The board of directors consists of eight members, with five being female and three male, reflecting a commitment to gender diversity[101]. - The company has adopted a diversity policy to enhance decision-making capabilities and reduce groupthink, considering factors such as gender, age, nationality, and professional experience[101]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[110]. - The board is responsible for leading and monitoring the company's operations and financial performance, ensuring effective internal controls and risk management[97]. - The company maintains compliance with corporate governance standards, ensuring transparency and accountability in its operations[94]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of environmental, social, and governance (ESG) performance to meet stakeholder expectations and support sustainable development[148]. - The company aims to continuously improve its ESG performance to meet stakeholder expectations and address associated risks[160]. - The group reported a total of approximately 93 tons of Scope 2 greenhouse gas emissions during the reporting period, a decrease from 114 tons in 2020, averaging about 7.8 tons per month[167]. - The group generated no hazardous waste during the reporting period, maintaining a record of zero pollution to water and land[170]. - The company is committed to reducing emissions and waste generated during its operations, reflecting its dedication to environmental protection[161]. Employee and Workforce Management - The company employed 79 full-time and 11 part-time employees as of March 31, 2021, with total employee costs around HKD 28,900,000[46]. - Total number of employees at the end of the reporting period was 90, up from 89 in the previous year[189]. - Overall employee turnover rate was 22%, down from 25% in the previous year, indicating improved employee retention[195]. - The company has implemented an annual performance review plan to motivate employees and ensure fair compensation[199]. - The employee structure remains stable, with a focus on equal opportunities regardless of gender, family status, or race[187].
弥明生活百货(08473) - 2021 - 年度财报