Financial Performance - For the year ended March 31, 2022, the Group's turnover was HK$781.17 million, a decrease of 2% compared to HK$796.03 million in 2021[15]. - The profit attributable to shareholders was HK$3.82 million, down 95% from HK$81.00 million in the previous year[15]. - The decrease in profit was primarily due to significant property revaluation gains and government subsidies received in the prior year[15]. - Basic earnings per share dropped to 0.25 HK cents from 6.44 HK cents in the previous year[5]. - The Group's revenue for the financial year ended March 31, 2022, was HKD 781.17 million, a decrease of 2% compared to HKD 796.03 million in the previous year[19]. - Shareholders' profit attributable to the Group was HKD 3.82 million, down 95% from HKD 81.00 million in the previous year, primarily due to significant property revaluation gains recorded last year[19]. - The food and restaurant business segment recorded a turnover decrease of 4% from the previous year, with a segment profit decrease of 51% due to disruptions from the fifth wave of COVID-19[22]. - The overall restaurant turnover decreased by 10% to HK$285,592,000 from HK$318,675,000 in 2021, with an operating loss of HK$19,389,000 compared to a profit of HK$10,298,000 last year[175]. - Profit for the group decreased by 49% to HK$6,102,000 from HK$11,942,000 in the previous year, mainly due to the absence of government subsidies received last year[196]. Business Operations and Impact of COVID-19 - The restaurant and hotel business faced severe impacts due to city lockdowns and dine-in restrictions during the COVID-19 pandemic[17]. - The pandemic situation in Hong Kong and Mainland China stabilized in the first half of the financial year but faced intermittent disruptions[16]. - The Group's restaurant and hotel operations experienced significant loss of operating days due to the fifth wave of COVID-19 in the fourth quarter[17]. - The segment profit for the year was HK$51,070,000, reflecting a significant decrease of 51% from HK$105,049,000 in the previous year due to disruptions caused by the fifth wave of COVID-19[174]. - Operating loss for the two hotels increased by 55% to HK$24,234,000 from HK$15,685,000 in the previous year[197]. - Both hotels achieved positive operating cash flows during the year, with occupancy rates gradually increasing as COVID-19 restrictions ease[197]. Asset and Investment Growth - Total assets increased to HK$7,082 million in 2022 from HK$6,772 million in 2021[5]. - Net assets rose to HK$4,078 million in 2022, compared to HK$3,831 million in 2021[5]. - The Group achieved a 10% increase in rental income for the year, attributed to new rental properties added to the portfolio and increased rental income from other investment properties in Mainland China[24]. - The property segment turnover for the year ended March 31, 2022, was HK$105,026,000, representing a 16% increase from HK$90,345,000 in 2021[155]. - Rental income from investment properties increased by 10% to HK$94,298,000 compared to HK$85,490,000 in 2021, attributed to new rental properties added to the portfolio[155]. - The Group recorded a share of revaluation gains from the associate of approximately HK$87,761,000 during the year, with expectations of improved rental rates and property values[155]. Future Outlook and Strategic Plans - Management remains positive yet cautious about the business prospects in the coming year, considering economic uncertainties such as inflation and rising interest rates[35]. - The Group remains cautiously optimistic about the property business, with new projects in Guangzhou and Shum Shui Po expected to provide additional income in the short to medium term[37]. - The food business is anticipated to become a key driver of profitability and growth, with the new bread production line in Hainan now operational and plans to introduce more new products[39]. - Management is focused on expanding its restaurant business in the Greater Bay Area, leveraging strong brand recognition in the region[38]. - The Group plans to allocate additional resources to enhance its brand reputation to drive further business growth[41]. - The company has set a revenue guidance for 2023, projecting an increase of 10% to 12% compared to 2022, aiming for a target revenue range of HKD 1.32 billion to HKD 1.344 billion[55]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on expanding the product line in the technology sector[55]. - The company is considering strategic acquisitions to enhance its market position, with potential targets identified in the technology and consumer goods sectors[55]. Corporate Governance and Management - The Board of Directors consists of eight members, including five executive directors and three independent non-executive directors as of March 31, 2022[69]. - The Company has complied with the Corporate Governance Code throughout the accounting period covered by the report[67]. - The Company emphasizes a quality board, sound internal control, transparency, and accountability to all shareholders[67]. - The Board is responsible for ensuring continuity of leadership and the development of sound business strategies[74]. - The Company has established three board committees: Audit, Remuneration, and Nomination, each with defined responsibilities[101]. - The Company Secretary assists the Chairman in preparing meeting agendas and ensures compliance with applicable rules and regulations[87]. - The Board conducted semi-annual reviews of the internal control and risk management systems, finding them adequate and effective throughout the year[142]. - The Company has maintained appropriate accounting policies consistently and made reasonable judgments in financial reporting[82]. Product Development and Market Expansion - Management plans to increase production capacity by acquiring additional equipment in the coming year to boost sales[27]. - The advanced Hainan food factory has commenced operations with an automated mooncake production line, significantly increasing production capacity[190]. - The advanced Hainan food factory is also expected to produce packaged Hainan-style food and Chinese-style dry meat products[39]. - The company is investing HKD 50 million in research and development for new technologies aimed at enhancing user experience and operational efficiency[55]. - Market expansion plans include entering two new Asian markets by the end of 2023, with an estimated investment of HKD 100 million[55].
佳宁娜(00126) - 2022 - 年度财报