Financial Performance - The Group's revenue for the year ended March 31, 2022, was approximately HK$461.8 million, representing an increase of approximately 72.2% compared to HK$268.1 million in 2021[12]. - Revenue from the trading of milk powder and baby foods increased by approximately 90.6% for the year ended March 31, 2022[12]. - The Group reported a loss of approximately HK$31.6 million for the year, compared to a loss of HK$15.0 million in 2021[12]. - Basic loss per share amounted to approximately HK10.1 cents, an increase from HK4.8 cents in the previous year[12]. - The revenue of Alpha Professional Holdings Limited for the year ended 31 March 2022 was approximately HK$461.8 million, representing an increase of approximately 72.2% compared to HK$268.1 million in 2021[20]. - The revenue from the Milk Products Business increased by approximately 90.6% for the year ended 31 March 2022, contributing significantly to the overall revenue growth[20]. - The loss for the year was approximately HK$31.6 million, compared to a loss of HK$15.0 million in 2021, with a basic loss per share of approximately HK10.1 cents[20]. - The total comprehensive loss for the year attributable to owners of the company was HK$34,141,000, compared to HK$14,682,000 in the previous year, highlighting a significant increase in overall losses[174]. Business Segments - The Milk Products Business has been performing well, with expected revenue growth in the next one to two years, supported by distribution agreements with BUBS Australia Limited and "Bellamy's" signed in early 2022[14]. - The revenue of the Milk Products Business was approximately HK$436.6 million, with sales of milk powder and baby foods contributing approximately HK$435.2 million[20]. - The gross profit from the Milk Products Business was approximately HK$33.0 million, compared to HK$22.4 million in 2021[20]. - The reportable segment profit (adjusted EBITDA) for the Milk Products Business was approximately HK$25.3 million, an increase from HK$21.8 million in 2021[20]. - The Mobile Business has scaled down operations due to decreased customer orders, with ongoing cost-cutting measures to manage challenges[14]. - For the year ended 31 March 2022, the revenue of the Mobile Business was approximately HK$23.4 million, representing a decrease of approximately 39.7% compared to the previous year[22]. - The reportable segment loss (adjusted EBITDA) for the Mobile Business was approximately HK$42.5 million, compared to a loss of HK$23.0 million in the previous year[22]. - The Group experienced a loss of over HK$40.0 million from the Mobile Business due to slow-moving inventory sales at a loss[20]. Shareholder Information - The Board does not recommend the payment of a final dividend for the year ended March 31, 2022[12]. - The Company has adopted a dividend policy that allows for the declaration of dividends based on financial performance, with the potential for special dividends in addition to interim and annual dividends[97]. - Shareholders holding at least one-tenth of the paid-up capital have the right to request the Board to convene a special general meeting within two months of their written requisition[99]. - The Company provides shareholders with contact details for inquiries regarding shareholdings and entitlements to dividends[99]. - The results of shareholder votes at the annual general meeting are published on the Company's website and the Stock Exchange[97]. Corporate Governance - The Company has complied with all applicable provisions of the Corporate Governance Code throughout the year ended March 31, 2022[47]. - The Board currently consists of seven Directors, including four executive Directors and three independent non-executive Directors[47]. - The independent non-executive Directors represent more than one-third of the Board, ensuring independent judgment on strategy and policy matters[50]. - The Company has adopted a Board diversity policy to enhance performance quality and support strategic objectives through diverse Board composition[61]. - The Company has arranged appropriate Directors' and officers' liability insurance for legal actions against Directors[66]. - The Company has complied with the Model Code for Securities Transactions by Directors throughout the year[62]. - The Board is collectively responsible for corporate governance duties, including policy development and compliance monitoring[94]. Risk Management - The Group emphasizes the importance of risk management and internal control, with the Board responsible for overseeing these systems on an ongoing basis[80]. - An annual risk assessment was conducted, identifying strategic, operational, financial, and compliance risks, leading to a three-year audit plan prioritizing identified risks[85]. - The Board, through the Audit Committee, reviewed the effectiveness of the risk management and internal control systems and considers them effective and adequate[86]. - The Group has taken steps to enhance its risk management and internal control systems based on weaknesses identified during assessments[85]. Financial Position - As at 31 March 2022, the Group had current assets of approximately HK$130.1 million and current liabilities of approximately HK$61.3 million, resulting in a current ratio of 2.12 times[25]. - The trade and other receivables increased to approximately HK$104.4 million, primarily due to increased sales and longer credit periods granted to new customers[25]. - The Group's cash and bank balances decreased to approximately HK$20.9 million, with 84.0% denominated in Australian dollars[25]. - The total equity decreased to HK$116,351,000 in 2022 from HK$150,492,000 in 2021, resulting in a gearing ratio increase to 35.7% from 12.4%[28]. - The Group had no contingent liabilities or material capital commitments as of March 31, 2022, maintaining a stable financial position[37]. Share Capital and Financing - The Group completed a placing of 34,920,000 shares on May 10, 2022, raising net proceeds of approximately HK$47.8 million to further develop the Milk Products Business[14]. - The net proceeds of approximately HK$47.8 million are intended to be used for purchasing inventory for the Milk Products Business (approximately HK$47.3 million) and for general working capital (approximately HK$0.5 million)[127]. - The placing was conducted under the general mandate granted to the Directors at the annual general meeting held on September 8, 2021[124]. - The Directors believe that the placing will enhance the capital base and shareholder base of the Company[124]. Management and Personnel - Employee count increased to 36 in 2022 from 23 in 2021, with total staff costs rising to approximately HK$11.8 million from HK$9.1 million[37]. - The Group maintains a competitive remuneration policy for employees, which includes salary and discretionary performance bonuses based on individual performance and Group results[122]. - The management team is committed to improving financial performance and strategic decision-making through their expertise[154]. Audit and Compliance - The external auditor's report is included in the annual report, affirming the responsibility for preparing financial statements[79]. - The Audit Committee reviewed and approved the financial statements for the year ended March 31, 2022, ensuring compliance with accounting principles and practices[94]. - The independent auditor's report covers the consolidated financial statements from pages 51 to 142 of the annual report[159]. - The audit was conducted in accordance with Hong Kong Standards on Auditing (HKSAs)[159]. Market and Economic Conditions - The impact of the COVID-19 pandemic is expected to lessen as vaccination rates increase globally, allowing the Group to pursue opportunities for performance enhancement[14]. - The Group's Mobile Business is significantly impacted by global economic conditions, with slow growth or recession potentially reducing demand for services and products[104]. - The Group's Milk Products Business is less sensitive to economic fluctuations compared to the Mobile Business, which is more affected by consumer purchasing power[104].
阿尔法企业(00948) - 2022 - 年度财报