Financial Performance - The company's total revenue for the fiscal year increased to HKD 340.5 million, up 9.5% from HKD 310.9 million in the previous year[20]. - The gross profit for the year was HKD 253.7 million, representing a gross margin of 74.5%, compared to 71.6% in the previous year[20]. - Net profit attributable to the company's owners rose to approximately HKD 104.9 million, compared to HKD 73.1 million in the previous year[29]. - Profit before tax for the same period was HKD 146,041,000, up 35.2% from HKD 108,006,000 in the prior year[134]. - Net profit for the year was HKD 105,512,000, which is a 48.0% increase from HKD 71,286,000 in the previous year[134]. - The company recorded a decrease in financing costs of approximately HKD 2.4 million due to the repayment of bank loans[28]. - Administrative expenses decreased from HKD 92.1 million to HKD 83.6 million, primarily due to reduced salary and wage expenses[25]. - Sales and distribution expenses increased from HKD 25.4 million to HKD 36.6 million, mainly for marketing expenses related to the cemetery market[24]. - The company has experienced a significant increase in reserves, indicating a positive trend in financial health and operational performance[83]. Operational Highlights - The group achieved record operating performance in flagship projects, with significant growth in revenue from the Ningxia Fushou Garden and Zunyi Dachenshan Ecological Cemetery[6]. - The flagship project, Anxian Cemetery, has integrated cultural, educational, and memorial elements, hosting various patriotic education and social charity activities that have increased the group's influence in the funeral industry[9]. - The group continues to promote green ecological burial practices, establishing the first life crystal service facility, "Cangjingyuan," which has garnered attention for its significance in local green burial development[7]. - The group has focused on developing thematic cultural cemeteries that harmonize with local environments and ecological requirements, promoting sustainable development[7]. - The group has maintained a steady growth trend in its projects, with a focus on integrating funeral services with cultural and emotional elements[6]. Shareholder Returns - The group continues to pay dividends to shareholders, reflecting its commitment to rewarding investor support[6]. - The company proposed a final dividend of HKD 0.015 per share for the year ending March 31, 2023, compared to HKD 0.009 per share in 2022, resulting in a total dividend of HKD 0.020 per share for the year, up from HKD 0.018 per share in the previous year[78]. - As of March 31, 2023, the total distributable reserves available to the company's equity holders amounted to approximately HKD 136.655 million, an increase from approximately HKD 115.699 million in 2022[83]. Strategic Initiatives - The company aims to extend its service offerings in green burial and digital life services, focusing on customer needs and product supply[17]. - The company plans to enhance strategic partnerships with elderly care and community organizations to provide integrated life education and end-of-life care services[16]. - The company continues to advocate a business philosophy centered on human-centric, culturally rooted, and scientifically driven services[17]. Governance and Compliance - The company is committed to maintaining transparency and accountability through its audit and remuneration committees[67][70]. - The company has complied with all relevant laws and regulations without any significant violations during the year[129]. - The board consists of 3 executive directors, 1 non-executive director, and 3 independent non-executive directors, with independent directors making up 42.86% of the total board[145]. - The company has established a framework for internal controls and risk management, ensuring compliance with relevant regulations[172]. - The company has established specific written terms of reference for its board committees to clearly define their powers and responsibilities[166]. Human Resources - The total employee cost for the year was approximately HKD 45,100,000, a decrease from HKD 48,400,000 in 2022[46]. - The company has a total of 265 employees, with 115 female employees, accounting for 43.4% of the total workforce[188]. - The company aims to achieve gender balance in senior management and potential board successors[188]. Financial Position - The net cash flow from operating activities for the year 2023 was approximately HKD 182,952,000, a significant increase from HKD 65,987,000 in 2022[30]. - The debt-to-asset ratio as of March 31, 2023, was 0.24, slightly improved from 0.25 in 2022, indicating a stable financial position[32]. - The total assets and net assets as of March 31, 2023, were approximately HKD 1,332,600,000 and HKD 1,006,700,000, respectively, with a net asset increase attributed to a profit of HKD 104,900,000[34]. Risk Management - The company has implemented a foreign currency hedging policy to manage currency risk, with no significant foreign currency risk reported for the year[43]. - The independent review of the internal control and risk management system is reported to the audit committee and board at least once a year[196]. Board Activities - The board of directors held three regular meetings during the year, which is below the recommended four meetings per year[138]. - The company held a total of 6 board meetings, 4 audit committee meetings, 1 remuneration committee meeting, 1 nomination committee meeting, and 1 annual general meeting during the year[155]. - All directors attended 100% of the board meetings, with each executive director present at all 6 meetings[155].
安贤园中国(00922) - 2023 - 年度财报