Financial Performance - The financing segment recorded revenue of approximately HK$75.9 million, a decrease of approximately HK$8.7 million or 10.3% compared to the previous year[10]. - The segment results for the financing segment were approximately HK$11.4 million, net of impairment loss[10]. - The Group recorded a profit of approximately HK$100.2 million for the financial year 2023, representing a 15.2% increase compared to HK$87.0 million in the previous year[35]. - Revenue decreased by approximately HK$12.1 million, a decline of around 9.5%, from approximately HK$127.0 million in the previous year[35]. - The company's revenue for the year ended March 31, 2023, was HK$114,961,000, a decrease of 9.1% from HK$127,011,000 in 2022[132]. - Profit before taxation increased to HK$107,106,000, up 9.0% from HK$97,450,000 in the previous year[132]. - Profit attributable to owners of the company for the year was HK$100,310,000, representing a significant increase of 15.2% compared to HK$87,036,000 in 2022[132]. - Total assets as of March 31, 2023, were HK$3,047,106,000, down from HK$3,292,975,000 in 2022, reflecting a decrease of 7.4%[132]. - Total liabilities decreased to HK$285,966,000 from HK$574,474,000 in the previous year, a reduction of 50.2%[132]. - Net assets increased to HK$2,761,140,000, compared to HK$2,718,501,000 in 2022, marking a growth of 1.6%[132]. Investment and Financing - As of March 31, 2023, the Group pledged investment properties with a fair value of approximately HK$1,467.0 million to secure banking facilities, an increase from HK$1,386.1 million in 2022[22]. - The Group has provided guarantees to financial institutions amounting to HK$452.0 million for facilities granted to subsidiaries, with HK$138.7 million utilized as of March 31, 2023[23]. - The Group will continue to adopt a prudent investment policy to seize attractive market opportunities and optimize diversification and flexibility[15]. - The Group's cautious financial monitoring approach is in response to the economic downturn in Hong Kong, particularly regarding customer loan recoverability[8]. - The Group expects significant influences on financial performance in the second half of 2023 due to potential U.S. recession and high-interest rates[40]. - The market is anticipated to experience brief but frequent volatility, with a focus on identifying undervalued industries and firms[42]. Corporate Governance and Management - The Group has established a Compliance and Risk Steering Committee to enhance corporate governance and support future expansion[46]. - The Company has maintained directors and officers liability insurance for protection against legal actions[115]. - The Company’s organizational structure and governance are supported by various committees including the Audit Committee and Remuneration Committee[98]. - The independent non-executive Directors' term lasts until retirement by rotation as per the Company's Articles of Association[54]. - The Company received confirmation of independence from each independent non-executive Director for the year ended 31 March 2023[52]. Employee and Workforce Development - The total employee costs for the Group were approximately HK$15.0 million, representing 13.1% of the Group's revenue for the fiscal year 2023[27]. - The Group is focused on enhancing workforce capabilities through regular training to improve technical skills and industry knowledge[25]. Shareholder Information - The board declared a final dividend of HK$0.02 per ordinary share for the year[128]. - The Group's five largest clients accounted for approximately 31.63% of total revenue for the year ended March 31, 2023, down from 38% in 2022, with one customer contributing over 10% of total revenue[76]. - The company's reserves available for distribution amounted to approximately HK$370.0 million as of March 31, 2023, unchanged from 2022[74]. Market Conditions and Risks - The ongoing geopolitical tensions and high inflation are expected to create uncertainty in the financial markets, impacting recovery efforts[7]. - The company continues to face significant risks and uncertainties, as discussed in the annual report, particularly in financial performance and market conditions[127]. - Future outlook remains cautious due to market volatility and economic conditions, with ongoing assessments of strategic opportunities[127]. Business Segments - The Group operates across six key business streams: Brokerage, Financing, Corporate Financial Advisory, Assets Management, Properties Investment, and Precious Metal Trading[197]. - The Company’s subsidiaries are engaged in various financial services including money lending and asset management[101]. - The principal activities of the Company include securities broking, futures broking, and corporate finance advisory[101].
美建集团(00335) - 2023 - 年度财报