Financial Performance - The company's revenue for the fiscal year 2021 increased by approximately HKD 4.0 million or 1.3% to about HKD 327.7 million compared to the fiscal year 2020[7] - The net profit for the fiscal year 2021 was approximately HKD 27.3 million, up from HKD 18.7 million in the fiscal year 2020[7] - The adjusted profit for the fiscal year 2021, excluding expenses related to the proposed transfer of listing, was HKD 27.8 million, compared to HKD 22.2 million in the fiscal year 2020[7] - The gross profit margin increased, contributing to the overall profit growth while operating expenses remained relatively stable[7] - For the fiscal year ending March 31, 2021, the company reported a profit of approximately HKD 27.8 million, an increase from HKD 22.2 million for the previous year, representing a growth of about 25.3%[21] - The company's revenue slightly increased by approximately 1.3% from HKD 323.7 million for the year ending March 31, 2020, to HKD 327.7 million for the year ending March 31, 2021[23] - Gross profit for the fiscal year ending March 31, 2021, was approximately HKD 48.7 million, up about 15.3% from HKD 42.2 million in the previous year[27] - The gross profit margin increased to approximately 14.9% for the fiscal year ending March 31, 2021, compared to 13.0% in the previous year, reflecting an increase of about 1.9 percentage points[27] Cost Management - Cost of goods sold decreased by approximately 0.8% from HKD 281.4 million for the year ending March 31, 2020, to HKD 279.1 million for the year ending March 31, 2021[24] - Selling and distribution costs increased by approximately 13.5% from HKD 7.0 million for the year ending March 31, 2020, to HKD 8.0 million for the year ending March 31, 2021[28] - Administrative expenses decreased from approximately HKD 11.4 million for the year ending March 31, 2020, to HKD 8.2 million for the year ending March 31, 2021, a reduction of about 28.9%[29] - The company plans to strengthen cost-saving measures in response to ongoing challenges posed by COVID-19[22] Market Position and Strategy - The company aims to strengthen its market position in the frozen seafood import and wholesale industry in Hong Kong[8] - The company plans to leverage its financial resources from being listed to seize business opportunities and implement strategies[8] - The net proceeds from the share offering will provide financial resources to support business opportunities and strategies, enhancing the company's market position in the frozen seafood import and wholesale industry in Hong Kong[22] - The company has established sales agency arrangements with several new overseas suppliers since its listing and will continue to seek exclusive agency or sales arrangements to enrich its product portfolio[22] Customer and Supplier Relationships - The company served over 390 customers, primarily frozen seafood resellers and suppliers, offering a variety of over 100 types of seafood products[8] - The largest customer accounted for approximately 4.6% of total sales, while the top five customers represented about 18.7% of total revenue for the year ended March 31, 2021, compared to 5.8% and 20.9% in 2020, respectively[62] - The largest supplier accounted for approximately 13.7% of total purchases, with the top five suppliers making up about 41.9% of total procurement for the year ended March 31, 2021, compared to 13.5% and 48.8% in 2020, respectively[62] - The company maintained good relationships with employees, customers, and suppliers, with no significant disputes reported for the year ended March 31, 2021[63] Corporate Governance - The board proposed a final dividend of HKD 0.025 per ordinary share, totaling HKD 7.0 million for the year ended March 31, 2021, compared to HKD 6.16 million for the previous year[56] - The board of directors includes five members, with the chairman and CEO being Mr. Chan Kin Fung[65] - The company has received independence confirmations from all independent non-executive directors, affirming their status as independent individuals[69] - The company has established specific committees, including the audit committee, remuneration committee, and nomination committee, to assist in effective governance[139] - The audit committee consists of three independent non-executive directors who review the financial statements and internal control systems[120] - The company has adhered to the corporate governance code since its listing date, with a commitment to maintaining high standards of governance practices[122] Risk Management and Internal Control - The risk management framework includes identifying significant risks, assessing their impact, and monitoring the effectiveness of management measures[160] - The group has established a clear organizational structure with defined responsibilities and authorization for risk management and internal control policies[161] - The board reviewed the risk management and internal control systems for the year ending March 31, 2021, and deemed them effective[164] - The company has implemented internal control policies regarding the disclosure of insider information[124] Environmental and Social Responsibility - The company emphasizes its commitment to corporate social responsibility, focusing on ethical behavior, employee health and safety, and environmental engagement[118] - The group emphasizes environmental and social responsibility as a core commitment, aiming to contribute to industry and societal development[183] - The total greenhouse gas emissions for the year ending March 31, 2021, amounted to 1,439.82 tons, including Scope 1, Scope 2, and Scope 3 emissions[194] - The total amount of non-hazardous waste generated was 293.0 kg per employee, with a significant portion coming from office paper waste[200] - The company did not generate any hazardous waste during the reporting period[200] Shareholder Engagement - The company has adopted a communication policy to ensure timely and accessible information for shareholders and investors[166] - The company secretary provides support to the board, ensuring compliance with policies and facilitating communication among board members[165] - The company encourages stakeholder feedback on its environmental, social, and governance policies and performance[187]
大洋环球控股(08476) - 2021 - 年度财报