Financial Performance - The company reported revenue of approximately HKD 168.7 million for the fiscal year ending March 31, 2023, a decrease of about 36.5% from HKD 265.8 million in the previous year[6]. - The company recorded a net loss of approximately HKD 44.4 million, an increase of about 287.1% compared to a net loss of HKD 11.5 million in the prior year[9]. - The gross loss for the year was approximately HKD 18.3 million, resulting in a gross loss margin of 10.8%, compared to a gross profit margin of 5.9% in the previous year[15]. - The total comprehensive loss for the year was HKD 44,451,000, compared to HKD 16,872,000 in the previous year, highlighting a deteriorating overall financial performance[200]. - Operating loss increased to HKD 45,119,000 from HKD 10,825,000 in 2022, indicating a significant decline in operational performance[200]. - Basic and diluted loss per share was HKD 9.96, compared to HKD 2.57 in the previous year, indicating a substantial increase in losses per share[200]. - The decrease in revenue was attributed to the ongoing impact of the Russia-Ukraine conflict and rising material costs due to COVID-19 restrictions in China[15]. Cash and Assets - The company's cash and bank balances decreased to HKD 8.9 million from HKD 12.4 million in the previous year[6]. - The total assets of the company decreased to HKD 72.8 million from HKD 181.0 million in the previous year[6]. - The group's cash and bank balance as of March 31, 2023, was approximately HKD 8,878,000, a decrease from HKD 12,362,000 in the previous year[27]. - The current ratio as of March 31, 2023, was approximately 1.4, down from 1.6 in the previous year[27]. Business Strategy and Operations - The company plans to focus on maintaining good relationships with existing customers and suppliers while exploring new market opportunities[11]. - The company aims to control costs and improve operational efficiency in response to the post-pandemic business environment[11]. - The company has been exploring potential investment opportunities to diversify its business and create new revenue streams[11]. - The group plans to explore opportunities to expand and diversify its business activities to create new revenue sources and maximize long-term returns for the company and its shareholders[40]. Dividends and Shareholder Information - The company did not recommend a final dividend for the fiscal year[10]. - The company did not declare a final dividend for the year[58]. - As of March 31, 2023, major shareholders hold a total of 253,132,500 shares, representing approximately 56.80% of the issued shares[70]. - Donghai International Financial Holdings Company Limited and Donghai Securities Company Limited each hold 227,332,500 shares, accounting for 51.01% of the shares pledged[70]. Corporate Governance - The company is committed to enhancing its corporate governance practices to meet tightening regulatory requirements and increasing shareholder expectations[103]. - The board of directors includes experienced members with backgrounds in finance, management, and corporate governance, enhancing the company's leadership[108][111]. - The company has adopted the corporate governance code as per the listing rules, ensuring adherence to governance standards[123]. - The board consists of 8 members, including 4 executive directors and 4 independent non-executive directors, ensuring a balanced composition[124]. - The company has established a formal and transparent process for appointing new directors, ensuring compliance with listing rules[142]. Risk Management - The company emphasizes the importance of risk management as a key factor for success, regularly identifying potential risks and developing action plans to mitigate them[163]. - The company monitors liquidity risk daily to ensure sufficient funds for operations, capital commitments, and loan repayments[166]. - The company has implemented a robust internal control system to ensure accurate financial reporting and compliance with applicable laws and regulations[168]. - The company has established a credit monitoring function to assess credit limits and terms for customers, managing credit risk effectively[167]. Environmental Commitment - The company is committed to environmental sustainability and has obtained ISO 14001:2004 certification for its production facility in Dongguan, China[100]. - The company is committed to environmental sustainability and compliance with RoHS regulations, requiring all vendors and partners to adhere to these standards[180]. - The company has implemented new equipment and comprehensive policies to ensure compliance with environmental regulations[180]. Audit and Compliance - The independent auditor's report confirmed that the consolidated financial statements reflect the company's financial position accurately as of March 31, 2023[185]. - The Audit Committee reviewed the audited consolidated financial statements for the fiscal year ending March 31, 2023, ensuring compliance with accounting principles and legal requirements[153]. - The company has established an internal audit department since February 2008, which has been effective in monitoring internal controls and risk management[159].
中国智能科技(00464) - 2023 - 年度财报