Workflow
权识国际(00381) - 2021 - 年度财报
AOM INT'LAOM INT'L(HK:00381)2022-05-13 08:35

Financial Performance - The company reported a revenue of approximately HKD 323.7 million for the fiscal year ending December 31, 2021, representing a 59.19% increase compared to HKD 203.4 million in 2020[4]. - The gross profit for the year was HKD 91.9 million, up 39.74% from HKD 65.8 million in the previous year[4]. - The loss attributable to shareholders was approximately HKD 226.8 million, a significant increase of 215.92% from HKD 71.8 million in 2020[4]. - The basic loss per share for the year was HKD 22.76, compared to HKD 13.48 in 2020, marking a 68.84% increase[4]. - The group reported a profit of approximately HKD 4,600,000 for the year, compared to a loss of HKD 5,600,000 in 2020[18]. - The group incurred a loss of approximately HKD 60,000,000 for the year, an increase from a loss of HKD 2,900,000 in 2020[19]. - The company reported a total comprehensive loss of HKD 209,930,000 for the year, compared to HKD 62,596,000 in 2020, highlighting ongoing challenges[167]. - The company reported a net loss of HKD 220,496,000 for 2021, compared to a net loss of HKD 70,102,000 in 2020, indicating a significant increase in losses[165]. Revenue Sources - The company’s toy and gift business generated revenue of approximately HKD 264.3 million, a 37.5% increase from HKD 192.3 million in 2020[15]. - The herbal medicine business generated revenue of approximately HKD 59,400,000, compared to zero in 2020[24]. - Revenue from North America was approximately HKD 264,000,000, up from HKD 190,000,000 in the previous year, accounting for 81.6% of total revenue[26]. Assets and Liabilities - The total assets of the company increased by 12.14% to HKD 956.4 million from HKD 852.9 million in the previous year[4]. - The company’s cash and cash equivalents increased to HKD 201,113,000 in 2021 from HKD 21,645,000 in 2020, indicating improved liquidity[169]. - The company reported a loss of approximately HKD 220,496,000 for the year ended December 31, 2021, with current liabilities totaling about HKD 258,444,000[178]. - The company’s net asset value decreased from HKD 293,991 thousand in 2020 to HKD 212,194 thousand in 2021, indicating a decline of approximately 27.8%[172]. Financial Strategy and Fundraising - The company plans to explore profitable investment opportunities and diversify its business and revenue base[9]. - The company plans to raise approximately HKD 141,000,000 through a rights issue at a subscription price of HKD 0.205 per share[179]. - The company is actively considering fundraising activities, including rights issues, public offerings, placements of new shares, and issuing convertible bonds[133]. - The group has established a clear organizational structure with defined responsibilities and authority for monitoring the performance of designated business units[137]. Corporate Governance - The board consists of three executive directors and six independent non-executive directors, ensuring independence and compliance with listing rules[111]. - The company has adopted a board diversity policy to enhance performance quality and ensure a balance of skills and experience among board members[120]. - The company has confirmed that public shareholding is sufficient, exceeding 25% of the total issued shares as of the report date[92]. - The company has received annual confirmations of independence from all independent non-executive directors, affirming their independence[94]. Risk Management - The group has adopted a risk management framework that includes identifying significant risks, assessing their impact, and implementing necessary measures to manage those risks[136]. - The board believes that the existing organizational structure and close supervision by management provide sufficient risk management and internal control[140]. - The board will regularly review the need for an internal audit function or engage independent professional service providers to assess the internal control and risk management systems[135]. Employee and Operational Insights - The workforce increased to 386 employees as of December 31, 2021, up from 356 employees in the previous year, indicating growth in operational capacity[48]. - The group’s total administrative expenses increased by approximately 9.2% to about HKD 78,500,000, primarily due to the acquisition of the herbal medicine business[28]. - The company has implemented effective paper usage measures to reduce its carbon footprint, including double-sided printing and recycling initiatives[97]. Investment Activities - The company completed the acquisition of a 51% stake in Hubei Jincao Tang Pharmaceutical Co., Ltd. for HKD 170 million, which will be paid through the issuance of convertible bonds[37]. - The acquisition of Hubei Jincao Tang Pharmaceutical Co. was completed, constituting a business combination, with fair value measurement of identifiable assets and liabilities required[150]. - Investment in associates as of December 31, 2021, includes approximately HKD 155,119,000 in Zhongle Development Co., HKD 132,334,000 in Anhui Fulao Wine Industry Development Co., and HKD 63,355,000 in USO Management & Holding Co. Ltd[148]. Auditor and Compliance - The auditor of the company has remained unchanged for the past three years, with the appointment confirmed at the annual general meeting[106]. - The company has complied with all applicable corporate governance code provisions, except for the deviation from code provision A.6.7 regarding independent non-executive directors' attendance at the annual general meeting[108]. - The audit committee held two meetings during the year, with all members being independent non-executive directors[131].