Financial Performance - Revenue increased by approximately 72.7% from approximately HK$216.6 million for the year ended March 31, 2024, to approximately HK$374.0 million for the year ended March 31, 2025[22]. - Profit for the year amounted to approximately HK$39.8 million, representing an increase of approximately 27.6% from HK$31.2 million in 2024[22]. - The increase in revenue was mainly due to higher demand for wine products[22]. - The cost of sales increased by approximately 106.1% from approximately HK$139.8 million for the year ended March 31, 2024 to approximately HK$288.1 million for the Year, directly correlating with the revenue increase[33]. - Gross profit increased by approximately 11.9% from approximately HK$76.8 million for the year ended March 31, 2024 to approximately HK$85.9 million for the Year[37]. - Profit for the Year increased to approximately HK$39.8 million, up from approximately HK$31.2 million in 2024, representing a growth of 27.5%[50]. - The Group's revenue growth was a key factor in the increase in profit, alongside a decrease in administrative expenses and finance costs[51]. Expenses and Cost Management - The Group implemented cost reduction and efficiency enhancement measures, leading to a decrease in administrative expenses and finance costs[22]. - Selling and distribution expenses and income tax expenses increased during the year[22]. - Selling and distribution expenses rose from approximately HK$10.9 million for the year ended March 31, 2024 to approximately HK$13.4 million for the Year[42]. - Administrative expenses decreased from approximately HK$16.4 million for the year ended March 31, 2024 to approximately HK$15.1 million for the Year[47]. - Finance costs decreased from approximately HK$9.3 million for the year ended March 31, 2024 to approximately HK$8.6 million for the Year, attributed to lower interest on bank borrowings[48]. - Income tax expense rose by approximately 21.1% from approximately HK$8.2 million in 2024 to approximately HK$9.9 million due to increased estimated assessable profit[54]. Operational Efficiency and Future Outlook - Future outlook includes continued focus on expanding product offerings and enhancing operational efficiency[22]. - The Group aims to leverage market demand for premium alcoholic beverages to drive growth[22]. - The Group aims to expand its customer base and supply channels while exploring new business opportunities, including expanding its liquor product portfolio and enhancing operational efficiency[25]. - The Group has made steady progress in refining and expanding its operations, focusing on diversifying and creating new sales channels[93]. Corporate Governance and Board Structure - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced composition for effective management[145]. - The company has complied with all provisions of the Corporate Governance Code, except for a deviation explained in the report[136]. - The board conducts at least four regular meetings annually, with additional meetings as required[142]. - Each director is subject to retirement by rotation at least once every three years, as per the company's articles of association[150]. - The company has satisfied GEM Listing Rules by having at least one independent non-executive director with appropriate professional qualifications in accounting or related financial management expertise[151]. - The board composition is regularly assessed to ensure a balanced mix of skills and experience, complying with GEM listing rules[153]. - Directors are responsible for the leadership and control of the company, overseeing operational and financial performance[156]. Employee and Workforce Management - Total employee benefit expenses decreased from approximately HK$10.4 million in 2024 to approximately HK$9.6 million in 2025, a reduction of about 7.7%[79]. - The total number of employees increased from 24 as of March 31, 2024, to 33 as of March 31, 2025, indicating growth in workforce[79]. - As of March 31, 2025, the gender ratio in the workforce is 55% female and 45% male, reflecting adherence to gender equality principles[184]. - The Company has not identified any challenges in maintaining gender diversity in the workforce so far[187]. Environmental and Regulatory Compliance - The Group recognizes its responsibility to protect the environment and continually seeks to manage environmental impacts from its operations[90]. - The Group complies with all relevant laws and regulations in Hong Kong, including GEM Listing Rules and the Securities and Futures Ordinance[84]. Management and Leadership - Mr. Chan Sze Tung has been promoted to Chief Operating Officer effective December 1, 2021, overseeing operations management and strategic planning[100]. - Ms. Yeung Chi Hung has served as a non-executive Director since January 3, 2017, advising on strategy, performance, and resources of the Group[104]. - The Audit Committee held two meetings during the year to review the interim and annual results, financial reporting, and internal control systems[196]. - The Audit Committee is responsible for recommending the appointment and removal of the external auditor and monitoring the integrity of financial statements[195].
威扬酒业控股(08509) - 2025 - 年度财报