Financial Performance - For the fiscal year ending March 31, 2023, the company reported a profit before tax of HKD 79,452,000, an increase of 32.3% compared to HKD 60,040,000 in 2022[12] - Total revenue for the year ended March 31, 2023, was HKD 894.7 million, an increase of 9.2% from HKD 819.2 million in 2022[117] - Gross profit for the same period was HKD 269.9 million, up from HKD 234.2 million, reflecting a gross margin improvement[117] - Operating profit increased to HKD 82.8 million from HKD 65.9 million, representing a growth of 25.8%[117] - Profit before tax rose to HKD 79.5 million, compared to HKD 60.0 million in the previous year, marking a 32.5% increase[117] - The company reported a net profit of HKD 79.5 million for the year, consistent with the profit before tax figure[117] - The company's total comprehensive income for the year was HKD 78,435,000, an increase from HKD 59,995,000 in the previous year, representing a growth of approximately 30.7%[156] - Basic and diluted earnings per share increased to HKD 8.73 from HKD 6.59, reflecting a year-over-year growth of approximately 32.5%[156] - The company reported a profit of HKD 79,466,000 for the year, compared to HKD 60,050,000 in the previous year, marking a significant increase of 32.3%[170] Cash Flow and Liquidity - The company’s cash flow from financing activities showed a total cash outflow of HKD 114,838,000, primarily due to repayments of gold loans and lease liabilities[18] - The net cash generated from operating activities was HKD 98,627,000, a decrease from HKD 172,467,000 in the prior year, indicating a decline of 42.7%[167] - The company reported a net increase in cash and cash equivalents of HKD 46,671,000, compared to HKD 45,254,000 in the previous year, showing a slight increase of 3.1%[167] - As of March 31, 2023, total cash and cash equivalents stood at HKD 301,060,000, up from HKD 254,519,000 in the previous year, representing a growth of 18.3%[167] - Cash and cash equivalents rose to HKD 301,060,000 from HKD 254,519,000, indicating improved liquidity[79] Assets and Liabilities - Total assets as of March 31, 2023, amounted to HKD 854,184,000, a decrease of 1.3% from HKD 863,288,000 in 2022[121] - Current assets increased to HKD 817,195,000 from HKD 782,690,000, reflecting a growth of 4.4%[121] - Current liabilities decreased to HKD 74,948,000 from HKD 135,303,000, a reduction of 44.7%[121] - The company's total financial liabilities amounted to HKD 70,987,000, with trade payables at HKD 9,690,000 and lease liabilities at HKD 42,731,000[149] - The group’s lease liabilities amounted to approximately HKD 14,849,000, a decrease from HKD 15,397,000 in 2022[32] Equity and Retained Earnings - The net asset value as of March 31, 2023, was HKD 570,901,000, down from HKD 586,675,000 in 2022[32] - The company's retained earnings decreased to HKD 177,547,000 from HKD 193,321,000 in the previous year[32] - Total equity as of March 31, 2023, was HKD 766,977,000, up from HKD 707,686,000, reflecting an increase of 8.4%[121] - The company's retained earnings increased to HKD 338,917,000 from HKD 278,595,000, showing a growth of approximately 21.7%[160] Risk Management - The group has engaged external consultants to enhance risk management processes and provide overall commentary on the risk management system[36] - The internal audit department plays a crucial role in maintaining effective risk management and internal control systems[48] - The group conducts semi-annual self-assessments of its internal control systems to ensure compliance and effectiveness[47] - The group has established a risk management and internal control system that is deemed effective and sufficient for the reporting period[49] - The group has undergone a review of its risk management processes with the assistance of external consultants[49] Financial Management Practices - The group has adopted a conservative approach to financial risk management, focusing on minimizing potential adverse impacts on financial performance[79] - The company has implemented effective policies for managing foreign exchange risk, which are expected to mitigate significant impacts on profit and reserves[127][128] - The company has not utilized any derivative instruments for hedging purposes, maintaining a straightforward financial strategy[79] - The company’s financial risk management practices are aligned with the Hong Kong Financial Reporting Standards, ensuring transparency in fair value measurements[153] Changes in Accounting Standards - The company adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on its accounting policies[176] - The new insurance contract standards established principles for recognition, measurement, presentation, and disclosure, replacing the previous standards[183] - The company highlighted that the revised standards aim to simplify financial performance interpretation and provide additional transitional exemptions[183] - The company reported that the fair value measurement framework is divided into three levels based on the reliability of significant inputs used[194] - The company indicated that the revised accounting standards would come into effect for annual periods beginning on or after January 1, 2024[190]
景福集团(00280) - 2023 - 年度财报