Financial Performance - The Group's revenue for the year ended March 31, 2022, was HK$XX million, reflecting a growth of XX% compared to the previous year[15] - For the year ended March 31, 2022, the Group recorded a turnover of approximately HK$152.6 million, representing a decrease of 44.7% compared to HK$276.0 million in 2021[27] - The loss for the year attributable to owners of the Company was approximately HK$40.8 million, compared to HK$26.4 million in the previous year[27] - Revenue from daily cleaning, anti-epidemic, and other consumable products was approximately HK$41.4 million, a slight increase from HK$39.5 million in 2021[27] - The gross profit for the year was approximately HK$7,849,000, with a gross profit margin of 5.1%, an increase from 3.4% in 2021[35] - The cost of sales for the year was approximately HK$144.8 million, representing about 94.9% of the Group's revenue, a decrease of 45.7% from HK$266.6 million in 2021[29] - The Group's total equity earnings amounted to approximately HK$43,385,000, down from HK$70,123,000 in 2021[53] - The Group recorded a loss attributable to shareholders for the year of approximately HK$40,840,000, representing an increase of 54.7% from HK$26,403,000 in 2021[39] Business Operations and Strategy - The commodities trading business focused on sourcing domestic quality products and metals for sale to retail channels in the PRC, contributing significantly to overall sales[5] - The joint venture for daily cleaning and anti-epidemic products expanded its market presence, particularly in North America, increasing sales channels through online live delivery platforms[6] - The licensed branded watches business transitioned to a wholly-owned subsidiary, enhancing operational capabilities in online sales and television shopping channels[7] - Aishang e-buy, a subsidiary, has contracts with five television shopping channels in the PRC, three of which are nationwide, boosting sales opportunities[8] - The Group is negotiating with well-known international brands to strengthen its brand network and expand sales through various channels, including livestreaming[9] - The Company aims to increase its market share in personal healthcare and protective products, including COVID-19 diagnostic kits and surgical gloves[6] - The Group plans to allocate more resources to the daily cleaning and anti-epidemic products business due to higher demand during the pandemic[27] - The Group is exploring new opportunities in the consumer goods market, including natural health supplements and high-end health food products[19] - Future outlook includes further market expansion and the introduction of new products to meet consumer demands[6] Financial Position and Assets - Total assets as of the reporting date were approximately HK$101.3 million, down from HK$123.6 million in the previous year[16] - Cash reserves stood at approximately HK$10.8 million, a decrease from HK$14.6 million in 2021[16] - As of March 31, 2022, the Group's net current assets amounted to approximately HK$36,563,000, down from HK$73,169,000 in 2021[47] - The current ratio decreased to approximately 1.6 times from 3.1 times in 2021, indicating a decline in liquidity[47] - The gearing ratio increased to approximately 68.7% from 42.9% in 2021, reflecting a higher level of debt relative to equity[48] Governance and Management - The company has a strong board with members holding significant experience in various sectors, including finance and corporate governance[116][119] - The company is actively involved in the merger and acquisition business, indicating a strategy for growth and market expansion[124] - The management team is well-equipped with academic qualifications and industry experience, which supports the company's strategic objectives[124] - The company achieved compliance with all Code Provisions of the Corporate Governance Code for the year ended March 31, 2022[130] - The Board consists of seven Directors, including three executive Directors and four independent non-executive Directors[132] - The company has adopted hiring policies that consider diversity perspectives, including gender diversity, for senior management positions[138] - The company aims to appoint one female Director by March 31, 2024, to enhance gender diversity on the Board[138] Audit and Compliance - The Audit Committee comprises three Independent Non-Executive Directors (INEDs), chaired by Mr. Lam Williamson[188] - The major responsibilities of the Audit Committee include monitoring the integrity of the Company's financial statements and overseeing the financial reporting system, internal control, and risk management systems[189] - The Audit Committee is responsible for reviewing and monitoring the external auditor's independence and effectiveness of the audit process[189] - The Company has established Board committees to oversee specific aspects of its affairs, with a majority of members being INEDs[187] - The Audit Committee reviewed the draft annual report and financial statements for the year ended 31 March 2022[199] - The Group's consolidated financial statements were prepared in accordance with generally accepted accounting principles in Hong Kong[199] - Directors acknowledge their responsibility to prepare financial statements that give a true and fair view of the Company's state of affairs as of the year-end[181]
易生活控股(00223) - 2022 - 年度财报