Financial Performance - The Group recorded a loss before tax of approximately HK$182.2 million, with a loss attributable to owners of approximately HK$177.1 million, compared to a loss of approximately HK$15.3 million in 2021[11]. - Total revenue for the year was approximately HK$56.8 million, relatively stable compared to approximately HK$53.9 million in the previous year[12]. - Revenue from the sales of optical frames and sunglasses decreased by approximately 16.5% or approximately HK$40.9 million, down from HK$49.0 million in 2021, primarily due to the impact of the COVID-19 pandemic[13]. - Rental income from property investment remained stable at approximately HK$1.9 million, while the Group did not record any revenue from debts and securities investment for both years[14]. - The film investment and distribution segment recorded a loss of approximately HK$91.1 million, mainly due to investments in film production and impairment losses totaling approximately HK$88.9 million[14]. Strategic Initiatives - The Group has implemented strategic initiatives to develop its energy business, including the acquisition of a company engaged in new energy and a proposed subscription of 50% shareholding in H. Sterling LNG Terminal Holding Limited[15]. - The Group aims to diversify its business and income streams, focusing on the energy sector and exploring new trading platforms for liquefied natural gas products[21]. - A subscription agreement was signed with Kingdom Investment Corporation Limited to subscribe for 174 million new shares for total proceeds of approximately HK$161.8 million[21]. - The Group is exploring opportunities in the energy sector, focusing on developing its energy business through acquisitions and new trading platforms[23]. - The Group's strategic investor, Kingdom Investment Corporation Limited, aims to leverage opportunities in the oil and gas industry, particularly in regions influenced by the "Belt and Road" initiative[23]. Financial Position - As of March 31, 2022, the Group had cash and cash equivalents of approximately HK$18.8 million, down from HK$40.1 million in 2021[31]. - The Group's short-term borrowings were approximately HK$14.6 million as of March 31, 2022, compared to HK$23.4 million in 2021[31]. - The debt to equity ratio of the Group was approximately 14.7% as of March 31, 2022, an increase from 7.4% in 2021[31]. - The Group's equity attributable to owners as of March 31, 2022, was approximately HK$146.8 million, down from HK$283.4 million in 2021[31]. Employee and Operational Insights - The Group employed 194 full-time employees as of March 31, 2022, a decrease from 235 in 2021[31]. - The annual turnover rate for employees aged 26-35 was 25% in 2022, compared to 45% in 2021[66]. - The Group reported zero work-related fatalities and injuries for both 2021 and 2022, indicating a strong commitment to employee safety[68]. - The Group actively engages in employee communication and motivation through various channels, including annual dinners and volunteer activities, to enhance employee belonging[75]. Environmental Impact - Total greenhouse gas emissions for the Group were 2,779.7 tonnes of CO2e, representing a 22.2% increase from 2,275.3 tonnes in 2021[53]. - The Group's electricity consumption was 3,809,919 kWh, up from 3,124,825 kWh in 2021, with an energy intensity of 8.5 kWh/m²[54]. - Water consumption increased to 37,282 m³ from 28,247 m³ in 2021, resulting in a water intensity of 0.06 m³/m²[53]. - Paper consumption increased significantly to 5.72 tonnes from 2.59 tonnes in 2021, marking a 120.6% rise[47]. - The Group actively promotes water-efficient practices to reduce wastage caused by human error[53]. Corporate Governance - The Company has adopted the Corporate Governance Code as its own code of corporate governance practices, ensuring transparency and accountability[105]. - The board did not appoint a chairman until February 23, 2021, which has since been rectified, ensuring a clear division of responsibilities[106]. - The Company recognizes the importance of good corporate governance to maximize shareholder benefits[105]. - The Board currently comprises six Directors, including three executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[111]. - The Company has maintained compliance with the Corporate Governance Code throughout the year ended March 31, 2022, with minor deviations noted[105]. Risk Management - The Group faces credit and liquidity risks related to trade receivables, loans, and other financial instruments, with management monitoring these risks closely[35]. - Interest rate risk is present due to fluctuations in interest-bearing financial assets and liabilities, with no current hedging in place[35]. - The Group is exposed to commodities risk from price fluctuations in raw materials like cellulose acetate and potassium gold cyanide, impacting cost of goods sold[36]. - The management confirmed the effectiveness of the Control Systems, with no significant issues reported that could adversely impact operational, financial, or compliance areas[200]. Compliance and Internal Controls - The Company ensures compliance with applicable laws and regulations for reliable financial information provision[199]. - The Audit Committee assessed the effectiveness of the risk management and internal control systems, concluding that the Group operated at a manageable risk level[165]. - The Company has established multiple communication channels with shareholders, including annual general meetings and updates on the Company’s website[187]. - The Company Secretary ensures that Board procedures and applicable laws are followed, providing necessary materials to Directors[169].
高雅光学(00907) - 2022 - 年度财报