Financial Performance - Revenue decreased by 47.2% to HK$413.33 million, with all markets experiencing declines[28] - Net loss increased by 129.9% to HK$62.05 million, resulting in a net loss margin of -15.0%[8] - Gross profit fell by 67.5% to HK$16.73 million, with gross profit margin decreasing from 6.6% to 4.0%[21][27] - Loss per share rose by 129.6% to HK$18.6[22] - For the year ended 31 March 2023, the Group reported a net loss of HK$62.1 million, worsening from a net loss of HK$27.0 million in 2022, with a net loss margin increasing from 3.4% to 15.0%[34] - Consolidated net loss for the year ended 31 March 2023 was HK$62.1 million, compared to a loss of HK$27.0 million in 2022, with basic loss per share increasing to HK18.6 cents from HK8.1 cents[51] Market Performance - European market sales dropped by 76% to HK$90.20 million, accounting for 22% of total sales[28] - Americas sales decreased by 20% to HK$243.80 million, representing 59% of total sales[28] - Asian market sales fell by 5% to HK$70.00 million, making up 17% of total sales[28] - Sales turnover decreased by 47% to HK$413.3 million, with Europe experiencing the most severe drop of 76% to HK$90.2 million, representing 22% of the Group's sales turnover[53] - Sales turnover to America decreased by 20% to HK$243.8 million, representing 59% of the Group's sales turnover[53] - Sales turnover to Asia decreased by 5% to HK$70.0 million, representing 17% of the Group's sales turnover[53] Expenses and Cost Management - Sales and distribution expenses decreased by 33% to HK$16.30 million, but as a percentage of revenue, it increased to 4.0% from 3.1%[29] - Administrative expenses reduced by 15% to HK$81.50 million, with the percentage of revenue rising to 19.7% from 12.2%[29] - Selling and distribution expenses decreased by 33% to HK$16.3 million, but as a percentage of sales turnover, they increased from 3.1% to 4.0%[54] - Administrative expenses decreased by 15% to HK$81.5 million, with the percentage of sales turnover rising from 12.2% to 19.7%[54] Assets and Liabilities - As of 31 March 2023, total assets were HK$1,248.9 million, down from HK$1,412.6 million in 2022, with shareholders' equity at HK$1,007.3 million, a decrease from HK$1,102.5 million[36] - The Group's total borrowings were HK$15.8 million, with a gearing ratio of 1.6%, down from 1.9% in 2022[36] - Segment assets decreased from HK$1,412,550,000 in 2022 to HK$1,248,881,000 in 2023, representing a decline of approximately 11.6%[122] - Consolidated liabilities reduced from HK$310,003,000 in 2022 to HK$241,542,000 in 2023, a decrease of around 22.1%[126] Cash Flow and Investments - The Group generated a net cash inflow from operating activities of HK$54.1 million for the year ended 31 March 2023, compared to an outflow of HK$32.0 million in 2022[36] - The Group invested HK$4.1 million in capital expenditures for plant and machinery, down from HK$12.9 million in 2022, funded by internal resources and bank loans[65] - The Group's inventories decreased by HK$54.4 million to HK$41.1 million, with inventory turnover days increasing from 47 to 63 days[36] - Trade receivables decreased by HK$92.6 million to HK$73.0 million, with trade receivables turnover days decreasing from 77 to 64 days[36] Corporate Governance and Management - The Company is focused on engineering, research and development, and management of intellectual property/patent applications[47] - The Company is involved in corporate strategic planning and development to enhance its market position[44] - The management team includes experienced professionals with backgrounds in finance, engineering, and management science[46] - The Board held four meetings during the year to ensure effective oversight and governance[164] - The Company is committed to maintaining high standards of corporate governance practices[158] Shareholding and Ownership - As of March 31, 2023, Mr. Cheung had personal interest in 46,779,335 shares and The Cheung Lun Family Trust had interest in 154,349,960 shares of the Company[45] - Ms. Cheung had personal interest in 1,258,000 shares and The Cheung Lun Family Trust had interest in 154,349,960 shares of the Company[47] - Dr. Cheung had personal interest in 900,000 shares and The Cheung Lun Family Trust had interest in 154,349,960 shares of the Company[47] - Credit Suisse Trust Limited holds 154,349,960 shares, representing approximately 46.34% of the company's shareholding[189] - UAL holds 147,779,960 shares, accounting for about 44.37% of the total shares[189] - AICL is a beneficial owner of 134,821,960 shares, which is approximately 40.48% of the company's shares[189] Strategic Focus and Future Plans - The Group plans to focus on stringent cost control and seek growth opportunities through new customers and product categories, particularly in the mainland China market and online sales channels[34] - The Company is exploring new strategies for market expansion and product development to drive future growth[44]
亚伦国际(00684) - 2023 - 年度财报