Company Listing and Financial Performance - The company successfully listed on the Main Board of The Stock Exchange of Hong Kong on August 14, 2020, issuing 1,000 million shares and raising approximately HK$97.0 million in net proceeds[12]. - Revenue for FY 2021 was approximately HK$826.2 million, representing a 20.5% increase from approximately HK$685.9 million in FY 2020[21]. - The gross profit for FY 2021 was approximately HK$60.7 million, with a gross profit margin of 7.3%, down from 10.7% in FY 2020[21]. - Profit for FY 2021 increased to approximately HK$42.7 million, a 7.8% rise compared to approximately HK$39.6 million in FY 2020[21]. - The company aims to improve its financial performance, projecting a revenue growth of 10% for the upcoming fiscal year[62]. Contracts and Project Management - In FY 2021, the company was awarded 16 new contracts with an aggregate contract sum of approximately HK$1,008.5 million, increasing the total contracts on hand to 28 as of March 31, 2021[15]. - The amount of contract sum yet to be recognized as of March 31, 2021, was approximately HK$1,381.6 million, compared to approximately HK$1,064.9 million as of March 31, 2020[15]. - The company completed two existing projects during FY 2021, while 28 projects were ongoing as of March 31, 2021[19]. - The Group's ability to discharge contractual obligations may be affected by delays or suspensions of projects due to COVID-19, leading to material adverse impacts on financial performance[28]. Market Position and Strategic Initiatives - The company remains confident in its market position despite increasing competition, maintaining a focus on profit margins to safeguard shareholder interests[15]. - The company is exploring suitable merger and acquisition opportunities to enhance its capabilities for larger projects in the future[12]. - The company is focusing on expanding its market presence, particularly in the construction sector, aiming for a 20% growth in project acquisitions over the next fiscal year[56]. - The company plans to pursue strategic acquisitions to bolster its service offerings, targeting a 25% increase in service capacity through mergers and acquisitions[58]. Risks and Challenges - The recent COVID-19 outbreak in Hong Kong may significantly impact business operations and financial performance due to unfavorable economic conditions and decreased purchasing power[28]. - Health safety risks during the COVID-19 outbreak could lead to labor shortages, increased wages, and interruptions in business operations, delaying project progress[28]. - The Group faces significant risks if it cannot diversify its customer base or secure new projects to offset potential revenue losses from major customers[23]. - The Group cannot guarantee that it will be invited to participate in new project tenders or that the terms of new contracts will be comparable to existing ones[26]. Customer and Supplier Relationships - The company maintains a significant reliance on its five largest customers, which poses a risk to its revenue stability[22]. - The major revenue source comes from five largest customers, with a significant reliance on the largest customer, which poses a risk to business operations and financial performance if relationships are not maintained[24]. - The five largest customers accounted for approximately 83.5% of the total revenue, with the largest customer contributing about 49.1%[81]. Governance and Management - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[53]. - The independent non-executive directors bring over 40 years of combined experience in the surveying and property market, enhancing the company's governance[60]. - The Company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all directors during the year[105]. - The Board is responsible for overseeing the management, business strategies, and financial performance of the Group to ensure good corporate governance practices[114]. Environmental, Social, and Governance (ESG) Commitment - The Group is committed to environmental protection and sustainable development through green practices in its business activities[35]. - The Group's mission includes minimizing environmental impact and complying with applicable environmental laws and regulations[187]. - The Group is committed to quantifying and disclosing key performance indicators and data related to environmental and social aspects[181]. - The Group engages with stakeholders through various channels, including annual general meetings and regular meetings with suppliers[185]. Financial Position and Liquidity - As of March 31, 2021, the Group had cash and cash equivalents of approximately HK$196.8 million, compared to approximately HK$33.3 million as of March 31, 2020[43]. - The Group's liquidity position is closely monitored by the Directors and senior management to meet funding needs[36]. - The Group's current ratio decreased from 4.3 times as of March 31, 2020, to 4.2 times as of March 31, 2021, primarily due to an increase in trade payables[39]. - The Group's capital structure consisted of approximately HK$359.0 million in equity and approximately HK$10.7 million in debts (lease liabilities and bank borrowings) as of March 31, 2021[43]. Employee and Workforce Development - As of March 31, 2021, the Group had 830 employees, an increase from 704 in 2020, reflecting a growth in workforce[46]. - The management team is committed to enhancing shareholder value through strategic initiatives and operational improvements[59]. - The Group's management team includes professionals with extensive experience in their respective fields, enhancing operational effectiveness[67].
智勤控股(09913) - 2021 - 年度财报