Financial Performance - For the year ended March 31, 2022, revenue decreased by 13.9% to HK$783,192,000 from HK$909,466,000 in 2021[14] - Gross profit fell by 66.3% to HK$51,514,000, resulting in a gross profit margin of 6.58%, down from 16.83%[15] - The company reported a net loss of HK$26,995,000, a decline of 158.2% compared to a net profit of HK$46,402,000 in the previous year[16] - Earnings per share decreased to a loss of HK$8.1, down 158.7% from earnings of HK$13.8 per share in 2021[17] - Total dividend per share dropped by 84.0% to HK$4 from HK$25 in the previous year[19] - For the year ended 31 March 2022, the Group's sales turnover decreased by 14% to HK$783.2 million compared to HK$909.5 million in 2021[24] - The consolidated net loss for the year was HK$27 million, a decline from a profit of HK$46.4 million in 2021, resulting in a basic loss per share of HK8.1 cents[24] Sales and Market Performance - Sales turnover to Europe decreased by 11% to HK$380.1 million, representing 49% of the Group's total sales turnover[29] - Sales turnover to America decreased by 9% to HK$304.4 million, accounting for 39% of the Group's total sales turnover[29] - Sales turnover to Asia decreased by 34% to HK$73.4 million, representing 9% of the Group's total sales turnover[29] - Sales turnover to other markets decreased by 25% to HK$25.3 million, making up 3% of the Group's total sales turnover[29] Operational Metrics - Inventory turnover days increased to 47 days from 36 days, while trade receivables turnover days improved to 77 days from 97 days[20] - The gearing ratio slightly decreased to 1.9% from 2.2%, indicating a reduction in leverage[20] - Return on equity declined to -2.3% from 3.9%, reflecting the impact of the net loss on shareholder returns[20] - The Group faced increased expenses, rising from 10.6% to 12.2% compared to the previous year[34] - Logistics issues, including container shortages and freight disruptions, significantly impacted sales turnover and supply chain operations[28] - The rise in raw material costs, particularly for electronic components, and increased energy costs contributed to reduced profit margins[28] Future Outlook - The company is focusing on new product development and market expansion strategies to recover from the current downturn[22] - Future outlook remains cautious due to sluggish market sentiments and ongoing challenges in the industry[22] - The company anticipates a challenging business environment due to high inflation and geopolitical uncertainties, affecting consumer sentiment negatively[39] Financial Position - Total assets as at 31 March 2022 were HK$1,412.6 million, down from HK$1,583.9 million in 2021, with shareholders' equity decreasing to HK$1,102.5 million[45] - Cash and bank deposits held as at 31 March 2022 amounted to HK$504.6 million, a decrease from HK$616.3 million in 2021[46] - The group's net cash outflow from operating activities was HK$32 million, compared to HK$16.7 million in 2021[49] - The company's distributable reserves as of March 31, 2022, included retained profits of HK$260,592,000, down from HK$340,607,000 in 2021, indicating a decrease of approximately 23.5%[152] Governance and Management - The company is focused on maintaining a robust governance structure with a diverse board of directors[85] - The company continues to prioritize research and development to enhance its product offerings and market position[87] - The Group's executive team includes family members, indicating a strong familial connection within the management structure[80] - The company has a diverse management team with members holding degrees from prestigious institutions such as the University of Newcastle and Imperial College Business School[96][100] Shareholder Information - As of March 31, 2022, Mr. Cheung held personal interest in 46,779,335 shares, while The Cheung Lun Family Trust had interest in 154,349,960 shares[78] - Ms. Cheung had personal interest in 1,258,000 shares, with The Cheung Lun Family Trust also holding 154,349,960 shares as of March 31, 2022[86] - Dr. Cheung had personal interest in 900,000 shares, with The Cheung Lun Family Trust holding 154,349,960 shares as of March 31, 2022[89] - The Cheung Lun Family Trust is a significant shareholder, holding a total of 154,349,960 shares across multiple directors[86] Environmental and Social Responsibility - The Group is committed to environmental sustainability, with manufacturing sites certified under ISO 14001:2004 for environmental management systems[126] - The Group's environmental policies focus on reducing waste and energy consumption through the Reduce, Reuse, and Recycle principles[126] - The Group provides competitive remuneration packages and training for employees, recognized as a "Caring Company" since 2007 and a "Happy Company" since 2014[126] Compliance and Legal Matters - For the year ended March 31, 2022, there was no material breach of applicable laws and regulations that significantly impacted the Group's business[129] - The Group did not have any significant violations of applicable laws and regulations that would materially impact its business operations during the year[134] - There were no interests in any of the Group's five largest suppliers or customers held by directors or significant shareholders during the year[143]
亚伦国际(00684) - 2022 - 年度财报