Financial Performance - For the fiscal year ending March 31, 2025, the company recorded revenue of approximately HKD 64,000,000, an increase of about 17.9% compared to HKD 54,300,000 for the previous fiscal year[7]. - Revenue from the United States accounted for approximately 41.4% and 48.4% of total revenue for the fiscal years ending March 31, 2024, and March 31, 2025, respectively[12]. - The gross profit margin decreased from 13.8% for the fiscal year ending March 31, 2024, to 9.8% for the fiscal year ending March 31, 2025[12]. - The company reported a net loss of approximately HKD 24,400,000 and HKD 23,800,000 for the fiscal years ending March 31, 2024, and March 31, 2025, respectively[12]. - Revenue increased from approximately HKD 54.3 million to approximately HKD 64.0 million, representing a growth of about 17.9% for the year ending March 31, 2025[15]. - Sales of bridesmaid dresses rose from approximately HKD 25.2 million to approximately HKD 33.4 million, an increase of about HKD 8.2 million, driven by a rise in sales volume from 97,900 units to 150,500 units[15][16]. - Gross profit decreased from approximately HKD 7.5 million to approximately HKD 6.3 million, with a gross margin decline from 13.8% to 9.8% due to increased sales costs[18]. - Other income surged from approximately HKD 400,000 to approximately HKD 3.7 million, marking an increase of about 825% primarily due to higher rental income[19]. Business Environment and Strategy - The ongoing US-China trade disputes and tariffs have created a challenging business environment, significantly impacting the company's overall performance[8]. - The company plans to actively seek potential business opportunities to expand revenue sources and enhance shareholder returns[8]. - Cost control measures have been implemented to address the ongoing sluggish business environment[8]. - The company aims to maintain sustainable development and leverage opportunities to enhance long-term growth potential and protect shareholder interests[8]. - The post-pandemic economic disruptions have adversely affected the company's operating environment[13]. Corporate Governance - The board of directors has adopted the principles and code provisions of the Corporate Governance Code as the foundation of the company's governance practices[53]. - The company has confirmed compliance with the Corporate Governance Code during the reporting period, except for provision C.2.1[54]. - The board is responsible for leading and monitoring the company, ensuring decisions are made in the best interest of the company[59]. - The board consists of a balanced mix of executive and independent non-executive directors, providing strong independent judgment[59]. - The company aims to deliver sustainable returns to shareholders while safeguarding the interests of trading partners[58]. Risk Management - The company has a strong focus on understanding and managing overall business risks[58]. - The risk management framework includes a risk management working group that identifies and assesses significant risks at least annually, with mitigation plans for major risks[107]. - An independent professional firm has been engaged to assist the board and audit committee in monitoring the effectiveness of the risk management and internal control systems[107]. - The board conducts an annual review of the effectiveness of the risk management and internal control systems, covering financial, operational, and compliance monitoring[108]. Employee Management - The total number of employees decreased to 206 as of March 31, 2025, from 227 as of March 31, 2024[39]. - The company has complied with all relevant labor laws and regulations, with no violations reported during the reporting period[157]. - The company emphasizes a healthy and safe work environment to enhance employee productivity and well-being[157]. - The company has implemented rigorous policies to ensure fair treatment of all employees, promoting diversity and preventing workplace discrimination[159]. - The company is committed to continuous investment in employee training and development to enhance knowledge and skills[157]. Environmental, Social, and Governance (ESG) - The ESG report aims to improve the accuracy of disclosed data and transparency of ESG performance, focusing on sustainable development goals and commitments[131]. - The company is committed to increasing the use of biodegradable materials and minimizing waste to achieve sustainability[139]. - The ESG committee meets every six months to ensure the proper execution of ESG measures within designated timelines[145]. - The company aims to enhance its impact on the environment and community by providing responsible products and excellent services[142]. - The company has set specific emission reduction targets to steadily decrease emissions density by 2030 or earlier[197]. Supplier Management - The number of material suppliers increased from 109 in 2024 to 114 in 2025, with suppliers in mainland China rising from 75 to 90[174]. - The company aims to incorporate internationally recognized standards into supplier evaluation criteria to enhance supplier compliance and worker welfare[175]. - The company has established a supplier code of conduct that outlines environmental and social risk indicators, requiring compliance with applicable laws and regulations[175]. - The company encourages suppliers to improve in areas such as labor rights, occupational health and safety, and environmental protection[176]. Product Quality and Customer Satisfaction - The group has established a rigorous advertising and labeling policy to ensure accurate descriptions and information in sales and marketing materials[180]. - Quality assurance is critical, with strict standards for procurement, production, and after-sales service to ensure customer satisfaction[181]. - The group has implemented a product recall policy and procedures to address defective products, ensuring proper follow-up and handling[182]. - No product recalls or cases of non-compliance with product quality and intellectual property laws were reported during the period[183].
嘉艺控股(01025) - 2025 - 年度财报