Financial Performance - For the fiscal year ending March 31, 2021, the company recorded total revenue of approximately HKD 178.9 million, a decrease of about HKD 20.4 million or 10.2% compared to the previous fiscal year[8]. - The profit and total comprehensive income for the fiscal year was approximately HKD 12.4 million, down by about HKD 7.0 million or 36.1% from HKD 19.4 million in the previous year[8]. - The company's total revenue decreased from approximately HKD 199.3 million for the year ended March 31, 2020, to approximately HKD 178.9 million for the year ended March 31, 2021, a decline of about HKD 20.4 million or 10.2%[15]. - Revenue from construction protection engineering was approximately HKD 110.2 million for the year ended March 31, 2021, down from approximately HKD 120.6 million for the year ended March 31, 2020, a decrease of about HKD 10.4 million or 8.6%[18]. - Revenue from the supply of construction protection products decreased from approximately HKD 78.7 million for the year ended March 31, 2020, to approximately HKD 68.8 million for the year ended March 31, 2021, a decline of about HKD 9.9 million or 12.6%[20]. - The gross profit decreased from approximately HKD 78.1 million for the year ended March 31, 2020, to approximately HKD 58.9 million for the year ended March 31, 2021, a reduction of about HKD 19.2 million or 24.6%[22]. - The gross profit margin fell from approximately 39.2% for the year ended March 31, 2020, to approximately 32.9% for the year ended March 31, 2021[22]. - Administrative expenses increased from approximately HKD 31.1 million for the year ended March 31, 2020, to approximately HKD 36.6 million for the year ended March 31, 2021, an increase of about HKD 5.5 million or 17.7%[27]. - The total profit and comprehensive income decreased from approximately HKD 19.4 million for the year ended March 31, 2020, to approximately HKD 12.4 million for the year ended March 31, 2021[31]. - The company did not recommend any final dividend for the year ended March 31, 2021, compared to a final dividend of HKD 0.58 per share for the year ended March 31, 2020[32]. Operational Challenges - The company faced challenges due to the COVID-19 pandemic, which led to delays and slowdowns in several construction projects in Hong Kong[9]. - The ongoing impact of the COVID-19 pandemic has delayed some construction protection projects, affecting the company's operational and financial performance[64]. - The company is committed to maintaining profitability and market competitiveness by controlling costs and improving efficiency in response to the pandemic[65]. Future Outlook - The company remains optimistic about the construction protection industry in Hong Kong, anticipating growth driven by increased residential land supply and new commercial construction initiatives from the government[9]. - The company remains confident in its future prospects and aims to consolidate its market position by expanding its workforce and securing more construction protection projects in Hong Kong[65]. Environmental Commitment - The company emphasizes its commitment to reducing operational environmental impact and promoting sustainability through the use of eco-friendly products and practices[9]. - The company is committed to environmental, social, and governance (ESG) issues, with a structured management approach overseen by the board of directors[154]. - The company has developed an environmental, social, and governance policy to identify, assess, and mitigate potential adverse environmental impacts[174]. - The company has implemented energy management policies aimed at reducing environmental impact, including measures such as turning off unnecessary lighting and using LED bulbs[184]. - The company has not reported any significant non-compliance with environmental laws and regulations during the fiscal year, including air and water pollution regulations[174]. - The company has established a management system to strictly control vehicle usage, which is a major source of greenhouse gas emissions[178]. - The company has adopted various waste reduction measures to manage waste effectively and promote recycling practices[181]. - The company reported a total greenhouse gas emissions of 58.92 tCO2e for the fiscal year 2021, with direct emissions (Scope 1) at 46.44 tCO2e and indirect emissions (Scope 2) at 12.48 tCO2e[179]. - The company generated a total of 4,771.41 kg of non-hazardous waste during the fiscal year 2021, with paper waste accounting for 1,721.41 kg and general construction waste at 2,150.00 kg[181]. Governance and Management - The company is led by Mr. Huang, who has over 23 years of experience in the building materials trade and oversees overall business strategy and sales[81]. - Mr. Ouyang, with over 20 years of experience in the building materials industry, manages site activities and supervises construction project progress[82]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse governance structure[90]. - The company has adopted the GEM Listing Rules Appendix 15 Corporate Governance Code as the basis for its corporate governance practices[88]. - The board is responsible for overall development, strategic planning, and reviewing business performance, ensuring accountability and transparency[93]. - The company has established three board committees: audit, remuneration, and nomination, to enhance governance efficiency[100]. - The company has confirmed compliance with the trading standards and securities trading code for the fiscal year ending March 31, 2021[89]. - The company has implemented information disclosure policies to prevent unauthorized or inaccurate disclosure of inside information[139]. Employee and Workforce - The company employed a total of 100 employees as of March 31, 2021, with a gender distribution of 66% male and 34% female[196]. - The overall employee turnover rate for the year was approximately 36.11%, with a notable 70% turnover rate for employees aged 51 and above[199]. - The company emphasizes equal opportunity in its hiring and promotion policies, ensuring fair treatment across various demographics[200]. - The company encourages water conservation practices among employees, although specific water consumption data is not available due to the nature of its operations[186]. Strategic Investments - The company plans to allocate HKD 2,110,000 (9.8%) for purchasing additional machinery and equipment, with HKD 223,000 already utilized and HKD 1,887,000 remaining, expected to be fully used by March 31, 2022[60]. - A total of HKD 6,280,000 (29.1%) is designated for expanding the workforce, with HKD 2,873,000 already spent and HKD 3,407,000 remaining, expected to be utilized by March 31, 2023[60]. - The company has fully utilized HKD 6,700,000 (31.0%) to strengthen its financial position, primarily for covering preliminary costs[60]. - HKD 6,510,000 (30.1%) is allocated for expanding the construction protection product portfolio, with HKD 424,000 already used and HKD 6,086,000 remaining, expected to be fully utilized by March 31, 2023[60]. - The company has purchased five spray machines for construction site use as part of its strategy to buy additional machinery and equipment[62]. - The company has hired a quantity surveyor manager, a quantity surveyor, a project manager, and two plumbers to support the increasing number of construction protection projects[62]. - The company is actively negotiating with potential suppliers for suitable new spray machines for recently acquired waterproofing projects[62].
新威工程集团(08616) - 2021 - 年度财报