Financial Performance - The company recorded revenue of approximately HKD 107 million for the fiscal year ending March 31, 2022, representing a 22% increase from HKD 87.9 million in the previous fiscal year[11]. - Revenue from the medical device and consumables distribution and services amounted to approximately HKD 88.9 million, up 29% from HKD 68.8 million in the previous year[14]. - The company reported a gross profit of approximately HKD 28.7 million, an increase of 10% compared to HKD 26 million in the previous fiscal year[11]. - The company incurred a loss attributable to shareholders of approximately HKD 12.2 million, compared to a loss of HKD 7.7 million in the previous fiscal year[12]. - The group recorded revenue of approximately HKD 18,000,000 from the operation of Anping Kangrong Hospital, an increase from HKD 15,400,000 in the previous year[24]. - The group incurred an operating loss of approximately HKD 2,500,000 from Anping Kangrong Hospital, compared to HKD 2,300,000 in the previous year[24]. Investments and Acquisitions - The company increased its stake in Wuhan Magrez from 51% to 87.75% to strengthen its core competitiveness in the cardiovascular device distribution business[16]. - The acquisition of 60% of Beijing Youkang's equity was completed, focusing on the distribution of medical equipment in Beijing and surrounding areas, which are among the most promising regions in China[17]. - The group completed the acquisition of 75% equity in Longhuang Limited, which owns 49% of Wuhan Magrez, for a total consideration of HKD 14,600,000[32]. - The acquisition of Beijing Youkang involved an investment of RMB 1,800,000 (approximately HKD 2,160,000) by the company and its subsidiary, with existing owners investing RMB 1,200,000 (approximately HKD 1,440,000)[37]. Cash and Assets - As of March 31, 2022, the company's cash and cash equivalents amounted to approximately HKD 8,500,000, an increase from HKD 4,600,000 in the previous year[47]. - The company's current assets and net current assets were approximately HKD 137,700,000 and HKD 800,000, respectively, with a current ratio of 1.0, down from 1.4 in the previous year[47]. - The company has bank loans valued at RMB 6,500,000 (approximately HKD 8,100,000) as of March 31, 2022, compared to RMB 3,000,000 (approximately HKD 3,600,000) in the previous year[48]. - The company's debt-to-equity ratio was 0.61 as of March 31, 2022, compared to 0.33 in the previous year[48]. Employee and Compensation - As of March 31, 2022, the group employed 122 employees, an increase from 116 in the previous year[53]. - Total employee costs amounted to approximately HKD 12 million, down from HKD 18.4 million in the previous year, with director remuneration and share-based payment expenses around HKD 800,000[53]. - The group continues to review employee compensation packages based on market conditions and individual performance[53]. - No stock options were granted during the year, and 22,500,000 stock options expired, leaving 243,400,000 unexercised options as of March 31, 2022[53]. Corporate Governance - The board of directors confirmed compliance with the corporate governance code throughout the year, with some disclosed deviations[128]. - The group has appointed financial and legal advisors to ensure compliance with legal and regulatory requirements[135]. - The company has established a remuneration committee responsible for reviewing and approving the remuneration policies for all directors and senior management, with specific details disclosed in the financial statements[141]. - The audit committee has reviewed the financial statements for the year ending March 31, 2022, and discussed internal controls and financial reporting matters[152]. - The board has established a risk management and internal control system to protect shareholders' interests and the group's assets, with annual evaluations of its effectiveness[157]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report aims to highlight the group's performance in these areas to assist stakeholders in understanding its sustainable development practices[173]. - The group has identified key ESG issues through stakeholder engagement and prioritization, focusing on high, medium, and low importance categories for strategic planning[189]. - The main source of greenhouse gas emissions for the group is electricity consumption from office equipment, with minimal direct emissions from operations[195]. - The group encourages employees to use public transport or carpooling to reduce air pollution emissions[194]. - In 2022, the total greenhouse gas emissions decreased to 284 tons from 421 tons in 2021, representing a reduction of approximately 32.5%[196]. Risks and Compliance - The company acknowledges various risks and uncertainties, including business, operational, and financial risks that may impact its financial performance and future prospects[74]. - The company has confirmed compliance with relevant laws and regulations in its operations in China and Hong Kong, with no major violations reported for the year[77]. - The group prioritizes compliance with applicable laws and regulations as a key concern for stakeholders, particularly government and regulatory bodies[187]. - The company has taken sufficient measures to ensure corporate governance standards meet or exceed regulatory requirements[140].
中国卫生集团(00673) - 2022 - 年度财报