Financial Performance - The company reported revenue of approximately HKD 468.6 million for the fiscal year ending March 31, 2021, a decrease of about 19.8% compared to the previous year[13]. - The profit for the fiscal year was HKD 20.6 million, representing a decline of 28.7% year-on-year[13]. - The group's revenue decreased by approximately HKD 115.8 million or 19.8% to about HKD 468.6 million for the year ended March 31, 2021, compared to approximately HKD 584.4 million for the previous year[23]. - Earnings before tax for the fiscal year was HKD 21.2 million, down from HKD 35.5 million the previous year[9]. - Basic earnings per share for the fiscal year was HKD 5.16, compared to HKD 7.23 in the prior year[9]. - The group recorded a profit of approximately HKD 20,600,000 for the year ended March 31, 2021, a decrease of HKD 8,300,000 or 28.7% compared to the previous year[33]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[57]. Assets and Liabilities - Non-current assets totaled HKD 130.5 million, while current assets amounted to HKD 252.3 million as of March 31, 2021[10]. - Total assets reached HKD 382.8 million, with total liabilities of HKD 198.3 million, resulting in a net asset value of HKD 184.5 million[10]. - As of March 31, 2021, the group's net asset value was approximately HKD 184,500,000, an increase from approximately HKD 163,800,000 as of March 31, 2020[37]. - Current assets increased to approximately HKD 252,300,000 as of March 31, 2021, compared to approximately HKD 242,800,000 as of March 31, 2020, primarily due to an increase in contract assets[37]. - The group's current liabilities decreased to approximately HKD 183,900,000 as of March 31, 2021, from approximately HKD 191,600,000 as of March 31, 2020, mainly due to reduced trade and other payables[38]. - The debt-to-equity ratio improved to 65.1% as of March 31, 2021, down from 72.1% as of March 31, 2020, due to repayments of bank loans and lease liabilities[41]. Dividends - The company does not intend to declare a final dividend for the fiscal year ending March 31, 2021[13]. - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future business growth[178]. - The company has no predetermined dividend payout ratio and will consider various factors before declaring dividends[180]. Operational Efficiency - Direct costs reduced by approximately HKD 82.4 million or 15.5% to about HKD 447.8 million for the year ended March 31, 2021, from approximately HKD 530.2 million[24]. - Gross profit fell by approximately HKD 33.3 million or 61.6% to about HKD 20.8 million, with the gross profit margin declining from 9.3% to 4.4%[26]. - Administrative expenses rose by approximately HKD 2.8 million or 20.9% to about HKD 16.2 million, attributed to increased employee salaries and the move to a larger office[31]. - Financing costs increased by approximately HKD 600,000 or 16.2% to about HKD 4.3 million, due to higher bank loan interest from additional mortgage loans[32]. - The company reported a 25% reduction in operational costs due to improved efficiency measures[65]. Strategic Initiatives - The management is actively seeking opportunities to enhance profitability and potential revenue streams[14]. - The construction business is expected to maintain strong and sustainable growth, with significant potential for future expansion[14]. - The company is investing $50 million in research and development for new technologies aimed at enhancing operational efficiency[62]. - Market expansion plans include entering two new international markets by the end of the year, which could increase market share by 5%[63]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[64]. - A new marketing strategy is being implemented, aiming to increase brand awareness by 30% within the next six months[66]. Corporate Governance - The company adhered to the corporate governance code as per GEM Listing Rules Appendix 15 during the fiscal year ending March 31, 2021[84]. - The board of directors held a total of 4 meetings during the fiscal year, with all directors attending all meetings[89]. - The company has three independent non-executive directors, exceeding one-third of the board, in compliance with GEM Listing Rules[95]. - The chairman and CEO roles are separated, with the chairman overseeing overall planning and strategy, while the CEO manages daily operations[97]. - The company has established four board committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee[98]. - The independent non-executive directors have confirmed their independence annually, ensuring compliance with GEM Listing Rules[95]. Risk Management - The company has implemented a risk management and internal control system, with management providing confirmation of its effectiveness to the board[89]. - Significant risks identified during the reporting period include occupational health and safety hazards due to civil engineering work, which the company addresses through ISO 14001:2015 and OHSAS 18001:2007 compliant management systems[143]. - The company has introduced innovative technologies to improve health and safety on construction sites, including an AI monitoring platform and safety helmets with built-in sensors[147]. - The company has deployed measures to safeguard employee health during the COVID-19 pandemic, including remote work arrangements and providing personal protective equipment[147]. - The risk management committee assists the board in monitoring significant risks and evaluating the effectiveness of risk management and control activities[139]. Shareholder Engagement - The company has established multiple communication channels with shareholders, including quarterly, interim, and annual reports[158]. - The board is committed to providing high levels of disclosure and financial transparency to shareholders and investors[158]. - Shareholders have the statutory right to convene special meetings and propose agenda items for consideration[161]. - The company encourages shareholders to attend the annual general meeting and provides at least 20 business days' notice[158].
常满控股(08523) - 2021 - 年度财报