Financial Performance - Revenue for the year ended March 31, 2022, increased by 35.4% to HK$2,807.9 million from HK$2,073.6 million in 2021[11] - Profit for the year surged by 1,559.4% to HK$63.4 million compared to HK$3.8 million in the previous year[11] - Basic earnings per ordinary share rose to 10.22 HK cents, a significant increase of 3,830.8% from 0.26 HK cents[11] - The gross profit margin slightly decreased to 12.1% from 12.2% year-on-year[11] - Operating profit margin improved to 5.6%, up from 4.6% in the previous year[11] - The net profit margin increased to 2.3%, compared to 0.2% in the prior year[11] - The company reported a gross profit of HK$339.7 million, up 34.3% from HK$253.0 million[11] - Operating profit reached HK$157.0 million, reflecting a 63.5% increase from HK$96.0 million in the previous year[11] - Profit before income tax was HK$83,006, up from HK$13,362 in the previous year, indicating a strong recovery[17] - Profit attributable to owners of the company was HK$65,503, a substantial increase from HK$1,673 in the previous year[17] Business Segments - The steel distribution and processing business accounted for 14.0% of total revenue, while property investment and fund management contributed 82.5%[12] - The Property Investment and Fund Management Business remained resilient, while the Steels Distribution and Processing Business and Building Products Distribution Business achieved segment profit increases of approximately 117.1% and 25.9% respectively[48] - The Building Products Distribution Business achieved a revenue of approximately HK$393.7 million, up from approximately HK$313.9 million last year, with profit before income tax increasing by 25.9% to approximately HK$43.1 million[74] - The Steels Distribution and Processing Business reported a profit before income tax of approximately HK$88.4 million, a 117.1% increase on revenue of approximately HK$2,317.2 million[78] Dividends and Equity - Proposed final dividend per ordinary share is set at 1.50 HK cents, with an interim dividend also at 1.50 HK cents[11] - Total equity as of March 31, 2022, was HK$1,114,228, up from HK$1,008,508 in the previous year, showing a healthy growth in net assets[20] - The Group's net asset value increased from approximately HK$1,008.5 million to approximately HK$1,114.2 million, with net asset value per ordinary share at approximately HK$1.55[96] Market and Operational Insights - The company reported notable orders in the Building Products Distribution Business in Hong Kong and Macau, contributing to revenue growth[27] - The revitalization of Central Park • Huangpu in Shanghai led to an increase in occupancy and rent rates during the year[28] - The company aims to capture opportunities in the recovering construction market in Hong Kong, with improved efficiency in civil project approvals[34] - The construction projects in Hong Kong and Macau showed a gradual rebound in demand, indicating a recovery in the market[43] - The Group remains cautiously optimistic about future developments in the Hong Kong market, anticipating orderly progress in infrastructure projects[37] Corporate Social Responsibility - The company is committed to corporate social responsibility, providing support during the COVID-19 pandemic and reducing its carbon footprint through solar panel installations[33] Financial Position and Ratios - The Group's total assets increased from approximately HK$2,960.8 million to approximately HK$3,368.2 million as of March 31, 2022[96] - Inventories rose from approximately HK$443.1 million to approximately HK$547.5 million, primarily due to a surge in steel prices[96] - Trade and bill receivables increased from approximately HK$363.8 million to approximately HK$509.6 million, with average days of sales outstanding slightly decreasing to 49 days[96] - The Group maintains a current ratio of approximately 1.0 and a gearing ratio that slightly decreased from 59.1% to 56.1%[97] - The Group's cash and cash equivalents increased by approximately HK$58.9 million to about HK$232.0 million, while borrowings rose by approximately HK$44.3 million to about HK$1,499.0 million[100] Governance and Management - The Company has complied with the Corporate Governance Code, except for CG Code provision A.2.1 for the year ended March 31, 2022[153] - The Board consists of two Executive Directors and four Independent Non-executive Directors[161] - The Company has established four Board Committees: Executive Committee, Remuneration Committee, Audit Committee, and Nomination Committee[167] - The Board meets regularly to discuss overall strategy and review financial performance, with a total of 4 Board meetings held during the year[173] - Each Independent Non-executive Director has confirmed their independence annually, in compliance with Listing Rules[162] - The Company emphasizes nurturing talents and provides a competitive remuneration package to attract and motivate employees[151] - The Board is committed to continuously reviewing and improving corporate governance practices to ensure proper regulation of business activities[154] Development and Innovation - The company invested in R&D by collaborating with a Hong Kong start-up specializing in AIoT Smart Toilet Solutions, enhancing its product offerings[27] - The Group has become a strategic investor and distributor for BluTech IoT, focusing on smart toilet solutions to enhance property management efficiency[78] - The introduction of Smart Toilet Solutions aims to enhance the Group's product portfolio and drive market penetration[90]
沪港联合(01001) - 2022 - 年度财报