Financial Performance - The total retail sales value in Hong Kong for the period from April 2024 to March 2025 was approximately HKD 370.3 billion, representing a year-on-year decrease of about 8.6% or HKD 35 billion[12]. - The company achieved a revenue growth of approximately 3.4% for the fiscal year ending March 31, 2025, despite challenging market conditions[12]. - The company recorded a revenue of approximately HKD 302,544,000 for the year ending March 31, 2025, representing a growth of about 3.4% compared to HKD 292,476,000 in the previous year[26]. - The sales of daily necessities and grain products accounted for approximately 31.7% of total revenue for the year ending March 31, 2025, with a sales increase of about 10.0% due to the successful launch of new noodle products[30]. - The sales revenue from packaged foods decreased by approximately 2.4% to HKD 58,404,000, attributed to weak demand and competitive pressures[29]. - Gross profit increased by approximately 8.0% to about HKD 71,406,000 for the year ending March 31, 2025, with a gross margin slightly rising to about 23.6%[34]. - The company’s sales cost for the year ending March 31, 2025, was approximately HKD 231,138,000, an increase of about 2.1% from HKD 226,363,000 in the previous year[33]. - Other income decreased slightly to approximately HKD 4,555,000, primarily due to a reduction in commission income from HKD 4,171,000 to HKD 3,472,000[35]. - The group recorded a net other loss of approximately HKD 3,739,000 for the year ended March 31, 2025, primarily due to a loss of approximately HKD 3,331,000 from the sale of a subsidiary[36]. Business Strategy and Development - The company plans to continue expanding and developing its business to create better prospects and returns for shareholders[13]. - The management team is focused on expanding distribution channels and enhancing customer relationships to drive growth[15]. - The company has a strategic focus on developing new products and technologies to meet market demands[22]. - The company plans to strengthen marketing efforts to maintain market share and accelerate the development of high-margin specialty products in response to competitive pressures[26]. - The company will closely monitor emerging trends in consumer behavior and supply chain dynamics to identify niche markets and strategic partnerships[26]. - The company aims to adapt its business model flexibly to address significant uncertainties in the market[27]. - The company remains cautiously optimistic about its core business despite economic uncertainties in Hong Kong, actively managing risks and exploring opportunities for business diversification[66]. - The company aims to expand and establish itself as a leading distributor of food and beverage groceries in Hong Kong[66]. Governance and Compliance - The company is actively involved in compliance and regulatory matters, ensuring adherence to financial regulations and standards[21]. - The independent non-executive directors bring over 20 years of experience in auditing, tax, and financial management, contributing to the company's governance[19]. - The board is committed to maintaining high standards of corporate governance and has adopted the principles and code provisions set out in the GEM Listing Rules[135]. - The company confirms compliance with GEM Listing Rules regarding related party transactions, with no significant transactions reported other than a rental agreement disclosed on March 21, 2025[107]. - The company has established appropriate directors' and officers' liability insurance for its directors and senior executives[109]. - The company has adopted a securities trading code for directors, ensuring compliance with GEM listing rules regarding trading standards[177]. Risk Management - The company faces risks related to customer retention, inventory management, and economic and political uncertainties[75][76]. - Major risks identified include market competition, employee commitment and satisfaction, customer credit risk, and compliance with food safety regulations[182]. - The board has engaged an independent consultant to review the internal control system, and recommendations for optimizing risk management have been adopted[179]. - The company has established a clear organizational structure with defined responsibilities and authorizations for monitoring business performance[180]. - There is no internal audit function currently, but the company will review the need for one annually based on operational scale and complexity[179]. Employee and Management Structure - The group employed 72 employees as of March 31, 2025, down from 76 employees as of March 31, 2024, with total employee costs for the year amounting to approximately HKD 29,162,000[59]. - The company has established a remuneration committee to review compensation policies and related matters for directors and senior management[95]. - The salary range for directors and senior management includes five individuals earning up to HKD 1,000,000, one earning between HKD 1,000,001 and HKD 2,000,000, one earning between HKD 3,000,001 and HKD 4,000,000, and one earning above HKD 4,000,000[170]. - The company has adopted a nomination policy that includes criteria for assessing the suitability of director candidates, considering factors such as educational background and industry experience[167]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balance of skills, experience, and diversity[142]. Environmental, Social, and Governance (ESG) - The group is committed to enhancing its environmental, social, and governance (ESG) performance, having signed the "ESG+ Commitment Program" to promote sustainability[190]. - The governance structure includes a dedicated ESG working group and representatives from various departments to oversee ESG matters[200]. - The report adheres to the GEM Listing Rules and includes mandatory key performance indicators (KPIs) for transparency and accountability[195]. - The group seeks stakeholder feedback on its ESG performance to drive continuous improvement[197]. - The report aims to provide a balanced view of the group's ESG performance, avoiding misleading information[199]. Shareholder Information - The company did not declare or recommend any dividends for the year ended March 31, 2025, consistent with the previous year[43]. - The board does not recommend the payment of dividends for the year ended March 31, 2025, consistent with the previous year[80]. - Shareholders can request a special general meeting if they hold at least 10% of the paid-up capital and have voting rights[185]. - The company has implemented a shareholder communication policy to ensure ongoing dialogue with shareholders[188].
亚洲富思(08413) - 2025 - 年度业绩