Financial Performance - For the fiscal year ending March 31, 2025, the company reported a net loss of approximately HKD 45.7 million, a decrease of about 88.8% compared to the previous year's loss of HKD 24.2 million[13]. - As of March 31, 2025, the company's total liabilities amounted to approximately HKD 125.5 million, an increase of about HKD 45.7 million from HKD 79.8 million as of March 31, 2024[14]. - The total assets of the company as of March 31, 2025, were approximately HKD 46.5 million, down from approximately HKD 90.4 million in the previous year[15]. - The company reported an increase in net liabilities, with current liabilities approximately HKD 144.2 million as of March 31, 2025, compared to HKD 112 million in the previous year[15]. - As of March 31, 2025, the group's debt-to-asset ratio was approximately 369.7%, up from 188.3% in 2024[16]. - The group held cash and cash equivalents of approximately HKD 4,100,000 as of March 31, 2025, compared to HKD 3,900,000 in 2024[16]. Business Strategy and Development - The company has entered into a non-binding memorandum of understanding to establish a joint venture with a partner in the Philippines, aiming to market and further develop gaming systems and content[6]. - The joint venture will be incorporated in Hong Kong, with the company holding 51% and the partner holding 49% of the equity[7]. - The company plans to diversify its operations by strengthening its gaming business in Asia while rapidly developing its camellia oil business[9]. - The company aims to reduce reliance on the entertainment industry and achieve flexible growth in a changing market environment[11]. - The company plans to establish a new business line focused on the procurement and distribution of high-quality camellia oil, capitalizing on the growing demand in the Chinese market[22]. - The group is committed to environmental conservation and sustainable development, implementing energy-saving measures in its offices[23]. Corporate Governance - The company has adopted a board diversity policy that emphasizes various factors such as gender, age, cultural background, and professional experience in board member selection[38]. - The board currently consists of five members, including one female director, demonstrating a commitment to gender diversity[39]. - The company has implemented measures to strengthen internal controls and ensure compliance with listing rules regarding securities trading by directors[36]. - The company has organized training for directors on compliance with listing rules, particularly regarding their responsibilities and securities trading regulations[36]. - The board has adopted a nomination policy to ensure a balance of skills, experience, and perspectives in line with the company's business needs[40]. - The company has established a formal and transparent procedure for the appointment and re-election of directors, with no specific term limits for all directors[54]. Risk Management and Compliance - The company has established compliance procedures to ensure adherence to applicable laws and regulations, with no known significant non-compliance issues as of March 31, 2025[24]. - The Audit Committee's main responsibilities include reviewing and monitoring the company's financial reporting procedures and risk management systems[58]. - The company has established a whistleblowing policy for employees and third parties to report potential misconduct anonymously[72]. - The company has a zero-tolerance anti-corruption policy, including measures against bribery, fraud, and money laundering[72]. - The company has implemented robust technical and management controls to ensure compliance with data protection laws, with no complaints or lawsuits related to data privacy during the reporting period[142]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development as a core part of its strategic vision, recognizing its importance in navigating macroeconomic and geopolitical challenges[95]. - The company has identified five key issues as most important based on an assessment of operational impacts, aiming to improve its ESG performance continuously[100]. - The group has implemented measures to reduce greenhouse gas emissions and fuel consumption by encouraging virtual meetings to minimize business travel[108]. - The group is dedicated to optimizing resource management and reducing energy and water consumption upon the resumption of operations[110]. - The group maintains a zero-tolerance policy towards any form of discrimination and is committed to creating an inclusive and respectful work environment[126]. Shareholder Relations and Dividends - The board of directors does not recommend the payment of dividends for the fiscal year ending March 31, 2025, consistent with the previous year[150]. - The company has adopted a dividend policy that is subject to the discretion of the board, considering various financial and operational factors[152]. - The company ensures that all insider information is disclosed to the public in a timely manner as per regulatory requirements[74]. Human Resources and Employment - The group employed 6 permanent staff in Hong Kong as of March 31, 2025, down from 9 in 2024, with a gender ratio of approximately 83% male and 17% female[195]. - The company actively manages employee relations, emphasizing the importance of developing skilled human resources through training and development programs[156]. Stock Options and Share Capital - As of March 31, 2025, the company has 2,374,652 unexercised stock options under the 2012 plan, which represents approximately 1.85% of the total issued shares of 128,247,561 (excluding treasury shares)[162]. - No stock options were granted, exercised, or canceled under the 2012 plan for the fiscal year ending March 31, 2025, with 894,434 options having expired[164]. - The company’s distributable reserves as of March 31, 2025, are reported to be zero, consistent with the previous year[166].
世纪娱乐国际(00959) - 2025 - 年度财报