Financial Performance - Revenue for FY22 decreased by 26.51% to HK$116,656,000 from HK$158,729,000 in FY21[8] - Gross loss for FY22 was HK$8,394,000, a significant improvement from a gross loss of HK$24,278,000 in FY21, representing a 65.43% reduction[8] - Loss before tax narrowed by 27.13% to HK$375,244,000 compared to HK$514,965,000 in the previous year[8] - Loss attributable to owners of the Company decreased by 28.76% to HK$371,735,000 from HK$521,821,000 in FY21[8] - Basic and diluted loss per share improved to HK$0.69 from HK$1.26, a 45.24% reduction[8] - Total comprehensive expenses for FY22 were approximately HK$326,969,000, compared to HK$396,025,000 in FY21[29] - The loss attributable to equity holders decreased to HK$371,735,000 in FY22 from HK$521,821,000 in FY21, with total comprehensive expenses at HK$323,153,000 compared to HK$397,998,000 in the previous year[66] Revenue Breakdown - Revenue from the Chongqing property segment was HK$37,418,000, down from HK$62,053,000 in FY21[31] - Revenue from property management services increased to HK$30,919,000 in FY22, up from HK$26,249,000 in FY21[39] - Revenue from the renovation and decoration segment was HK$40,329,000, down from HK$62,394,000 in FY21[43] - Revenue for FY22 amounted to HK$116,656,000, a decrease of HK$42,073,000 compared to FY21's HK$158,729,000, primarily due to reduced income from Chongqing Property[60] Asset and Equity Management - Net assets increased slightly by 0.55% to HK$190,159,000 from HK$189,128,000[8] - The Group's total equity was HK$190,159,000, a slight increase of 0.55% from HK$189,128,000 in the previous year, driven by an exchange gain of HK$48,641,000 from the appreciation of Renminbi[71] - The Group's cash and cash equivalents decreased to HK$31,770,000 in FY22 from HK$153,787,000 in FY21, indicating a liquidity challenge[73] - The current ratio as of March 31, 2022, was 1.49, down from 1.71 in FY21, reflecting a decline in current assets to HK$544,014,000 from HK$670,556,000[73] Cost Management - Selling and administrative expenses were reduced to HK$96,665,000 in FY22 from HK$122,100,000 in FY21, reflecting effective cost control measures[65] - The total staff cost for FY22 was HK$72,688,000, an increase from HK$67,245,000 in FY21, with a total workforce of 393 employees[86] Corporate Governance - The Company has a strong commitment to high standards of corporate governance, which is essential for managing business risks and enhancing transparency[137] - The Board of Directors consists of five executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[148] - The Company has complied with all principles of good corporate governance throughout the year ended March 31, 2022[140] - The independent non-executive Directors bring extensive experience in accounting, financial management, and mergers and acquisitions[129][130][132] - The Group's corporate governance policy is aligned with the Corporate Governance Code set out in the Listing Rules[139] Strategic Outlook - The Group plans to continue identifying investment and merger and acquisition opportunities to enhance financial performance and diversify its investment portfolio[25] - The operating environment remains uncertain due to the resurgence of COVID-19 in Mainland China, but the long-term positive trend is expected to continue[23] - The company expects the tourism industry in Japan to gradually recover, positively impacting hotel performance in the long run[58] - The redevelopment of Chongqing Property has been completed, with expectations for serviced apartments to generate positive returns due to geographical advantages[56] Risk Management - The Group did not enter into any foreign exchange contracts for hedging during FY22, exposing it to fluctuations in exchange rates primarily from RMB and JPY[81] - The Company ensures compliance with statutory and regulatory provisions through regular reviews[174] - The Company has established adequate systems of internal controls and risk management procedures as part of its governance framework[146]
民生国际(00938) - 2022 - 年度财报