Financial Performance - Revenue for 2022 was HK$1,042.4 million, a decrease of 16.0% from HK$1,241.2 million in 2021[6]. - Profit for the year attributable to owners of the Company was HK$231.0 million, down from HK$269.8 million in 2021, representing a decline of 14.3%[6]. - The Group recorded a revenue of approximately HK$1,042.4 million for the year ended 31 March 2022, a decrease of 16.0% compared to HK$1,241.2 million in 2021[19]. - Profit attributable to owners of the Company was approximately HK$231.0 million, down 14.4% from HK$269.8 million in the previous year[19]. - Gross profit for the year was approximately HK$37.8 million, a decline of 31.3% from HK$55.0 million in 2021[19]. - Profit before tax for 2022 was HK$236,034,000, down 14.7% from HK$276,718,000 in 2021[152]. Dividends - Proposed final dividend is HK$36.3 million, an increase from HK$27.3 million in 2021, reflecting a growth of 33.0%[6]. - Proposed final dividend per share is 4.0 HK cents, up from 3.0 HK cents in 2021, representing a 33.3% increase[6]. - The total proposed dividend amounts to approximately HK$36.3 million based on 908,663,302 shares in issue as of the report date[135]. - The Group's profit for the year ended 31 March 2022 was reported, with a final dividend recommended at HK$0.04 per share, up from HK$0.03 in 2021[134]. Assets and Equity - Total assets increased to HK$1,745.5 million in 2022, up from HK$1,586.6 million in 2021, marking a growth of 10.0%[8]. - Total equity rose to HK$1,622.0 million, compared to HK$1,425.0 million in 2021, indicating an increase of 13.8%[8]. - The company reported a significant increase in total assets over the past four years, rising from HK$1,317,018,000 in 2019 to HK$1,745,464,000 in 2022[152]. Cash and Liquidity - Cash and cash equivalents increased to HK$152.2 million from HK$124.3 million in 2021, a growth of 22.5%[8]. - The liquidity ratio improved to 239% as of March 31, 2022, compared to 175% in the previous year, indicating a stronger liquidity position[76]. - The Group's net current assets as of March 31, 2022, were HK$150.2 million, an increase from HK$110.6 million in the previous year, showing a growth of 35.8%[77]. - The Group maintains a level of cash and cash equivalents deemed adequate to finance operations and mitigate cash flow fluctuations[120]. Business Operations and Strategy - The Company plans to invest more resources in Southeast Asia's e-commerce markets, expanding product categories and introducing premium brand partners[25]. - The Company aims to increase its market share in consumer products and product sourcing by leveraging opportunities in Southeast Asia's e-commerce market[25]. - The Group's performance is sensitive to technology changes and market trends, which may materially affect business performance[110]. - The Group aims to achieve stable growth by consolidating its market position and maintaining competitive advantages amid a complex global political and economic environment[65]. Market Conditions - The global economy is expected to continue growing in 2022, but the growth rate is anticipated to slow down due to geopolitical instability and supply chain disruptions[27]. - Geopolitical issues and inflation are expected to negatively impact global economic recovery, with a forecasted decline of 0.7 percentage points in world GDP growth for 2022[38]. - The semiconductor industry faces ongoing supply chain challenges, with chip supply and demand imbalances expected to persist into 2023[63]. Employee and Governance - The Group employed approximately 137 full-time employees as of March 31, 2022, a decrease from approximately 164 employees in the previous year, reflecting a reduction of 16.5%[80]. - The management regularly reviews the internal control and risk management system to ensure good corporate governance practices[109]. - The Group has complied with relevant laws and regulations, with no material breaches reported during the year[124]. Environmental and Social Responsibility - The management team emphasized a commitment to sustainability, with plans to reduce carbon emissions by JJ% over the next five years[93]. - The Group is committed to environmental sustainability, striving to minimize its impact by reducing electricity and water usage[123]. - During the year, the Group made charitable contributions amounting to HK$320,000, an increase from HK$258,000 in 2021[195]. Related Party Transactions - Significant related party transactions are disclosed in note 36 to the consolidated financial statements[191]. - No Directors or their associates had beneficial interests in the Group's five largest customers or suppliers[197].
AV CONCEPT HOLD(00595) - 2022 - 年度财报