Financial Performance - The group's revenue for the year ended March 31, 2021, was approximately HKD 82.1 million, a decrease of about HKD 8.3 million or 9.2% compared to approximately HKD 90.4 million for the year ended March 31, 2020[9]. - The net loss for the year ended March 31, 2021, was approximately HKD 27.0 million, compared to a net loss of approximately HKD 31.9 million for the year ended March 31, 2020[9]. - Other income increased to approximately HKD 12.1 million for the year ended March 31, 2021, compared to HKD 1.9 million in the previous year, driven by government subsidies[22]. - Employee costs decreased to approximately HKD 41.0 million for the year ended March 31, 2021, from HKD 49.8 million in the previous year, due to reduced working days from temporary center closures[23]. - The total equity of the company as of March 31, 2021, was approximately HKD 11.9 million, down from HKD 38.9 million in the previous year[32]. - The company reported a distributable reserve of approximately HKD 20.2 million as of March 31, 2021, compared to HKD 16.5 million in 2020, reflecting an increase of about 22.4%[91]. - The company has incurred leasehold improvement expenses of approximately HKD 3.45 million as of March 31, 2021[49]. - As of March 31, 2021, the company had unsecured and secured bank borrowings of approximately HKD 17.6 million, compared to HKD 0.9 million in the previous year[52]. - The net proceeds from the share offering amounted to approximately HKD 31.6 million, lower than the estimated HKD 50.0 million disclosed in the prospectus[44]. Impact of COVID-19 - The COVID-19 pandemic has negatively impacted the company's revenue due to reduced customer willingness to undergo medical beauty treatments[13]. - The impact of COVID-19 on the company's financial performance remains uncertain and will be monitored closely[54]. - The impact of COVID-19 on the global business environment may further affect the group's financial performance, with the extent of this impact being currently unquantifiable[153]. Strategic Plans and Growth - The company remains optimistic about the industry outlook and aims for continued growth through brand image, strategic business expansion, and effective marketing activities[13]. - The company plans to enhance its competitive advantage by evaluating development opportunities and expanding the range of treatment services offered through the acquisition of new treatment equipment and consumables[13]. - The company opened a new flagship center in Mong Kok in May 2021 to expand its operational scale and enhance market penetration[17]. - The company plans to strategically expand its network of medical beauty centers and diversify its service offerings to strengthen its competitive advantage[17]. - The company established three new medical beauty centers, increasing employee count from 76 to 117 during the period[40]. - The total capital expenditure for setting up the three new centers was approximately HKD 20.1 million[45]. - The company purchased 16 laser treatment devices, 3 ultrasound treatment devices, and 4 radiofrequency treatment devices for the new centers[40]. Management and Governance - The company was founded in May 2008 by Mr. Ye and Ms. Fu, with Mr. Ye serving as the Executive Director and Chairman since June 2018[58]. - Ms. Fu, the CEO, has over 10 years of experience in the medical beauty service industry and was previously employed by Cathay Pacific Airways[62]. - The company has a strong management team with diverse backgrounds in marketing, operations, and finance, enhancing its operational capabilities[71]. - The board includes independent directors with extensive experience in law, finance, and corporate governance, ensuring robust oversight[63][69]. - The board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[163]. - The audit committee is composed of three independent non-executive directors, responsible for reviewing financial statements and overseeing risk management and internal control systems[181]. - The company emphasizes high standards of corporate governance to protect shareholder interests and enhance corporate value[159]. - The company provides training for newly appointed directors to ensure they understand their responsibilities and the business operations[178]. Risk Management - The company has identified various risks that may adversely affect its financial condition and operational performance, including government policy risks related to the beauty services industry[78]. - The company operates entirely in Hong Kong, making its business performance sensitive to the local economic, social, and political conditions[82]. - The board is responsible for overseeing the risk management and internal control systems, which are reviewed at least annually by the audit committee[197]. - The group does not have an internal audit department but is reviewing the need for one due to its relatively simple corporate and operational structure[200]. Corporate Social Responsibility - The company made charitable donations of approximately HKD 29,000 during the year, compared to HKD 16,000 in 2020, representing an increase of about 81.3%[95]. - The company is committed to complying with applicable environmental laws and minimizing negative impacts on the environment from its operations[83]. - The board of directors is actively involved in community service and governance, contributing to the company's reputation and social responsibility[60].
亮晴控股(08603) - 2021 - 年度财报