Financial Performance - For the year ended March 31, 2023, revenue decreased by 5.3% to HK$2,658.5 million from HK$2,807.9 million in 2022[10] - Gross profit increased by 3.6% to HK$352.0 million, with a gross profit margin of 13.2%, up from 12.1%[10] - Operating profit rose by 15.2% to HK$180.8 million, resulting in an operating profit margin of 6.8%, compared to 5.6% in the previous year[10] - Profit for the year increased by 29.5% to HK$82.2 million, with profit attributable to owners rising by 26.5% to HK$82.8 million[10] - Basic earnings per ordinary share improved by 26.6% to 12.94 HK cents from 10.22 HK cents[10] - The net profit margin increased to 3.1%, up from 2.3% in the previous year, reflecting improved profitability[10] - For FY2022/23, the Group's revenue decreased by 5.3% year-on-year, from approximately HK$2,807.9 million to approximately HK$2,658.5 million[43] - Gross profit increased from approximately HK$339.7 million to approximately HK$352.0 million, with a gross profit margin improvement from 12.1% to 13.2%[43] - Profit attributable to owners of the Company reached approximately HK$82.8 million, representing a notable improvement of 26.5% compared to the previous year[43] Dividends and Shareholder Returns - The interim dividend per ordinary share was reduced by 33.3% to 1.00 HK cent, while the proposed final dividend remained at 1.50 HK cents[10] - Basic earnings per ordinary share increased to HK12.94 cents from HK10.22 cents in the same period last year[48] Business Operations and Growth - The company plans to continue focusing on market expansion and new product development to drive future growth[10] - The delivery quantity for offsite rebar fabrication in Hong Kong increased by 11.6% year-on-year, indicating a positive trend in the Steels Distribution and Processing Business[26] - The Steels Distribution and Processing Business experienced a revenue drop from approximately HK$2,317.1 million to approximately HK$2,221.3 million due to COVID-19 and project delays[52] - The delivery quantity of the Group's construction steels processing business increased by 11.6% year-on-year, reflecting a growing acceptance of offsite rebar fabrication in Hong Kong[52] - The Group anticipates increased business opportunities in the construction materials distribution sector due to anticipated growth in international tourism and economic activities in Hong Kong[38] Assets and Liabilities - The Group's non-current assets decreased to HK$1,798,799, down from HK$1,966,749 in the previous year[25] - Current liabilities rose to HK$1,713,835, compared to HK$1,374,122 in the previous year, reflecting increased financial obligations[25] - The Group's total assets decreased from approximately HK$3,368.2 million to approximately HK$2,957.4 million as of March 31, 2023, primarily due to translation differences and reduced working capital[80] - The Group's inventories decreased from approximately HK$547.5 million to approximately HK$473.1 million, with average inventory days increasing to 81 days[80] - Trade and bill receivables decreased from approximately HK$509.6 million to approximately HK$430.7 million, with average days of sales outstanding increasing to 57 days[80] - The Group's equity totalled HK$1,072,653, a decrease from HK$1,114,228 in the previous year[25] - The net asset value of the Group reduced to approximately HK$1,072.7 million, with net asset value per ordinary share at approximately HK$1.50 as of March 31, 2023[80] Sustainability and Technology - The Group completed the installation of a solar photovoltaic system covering approximately 70% of the electricity consumption at its automated rebar processing plant[27] - All three commercial properties managed by the Group received LEED GOLD and WELL Health-Safety Rating certifications, highlighting the Group's commitment to sustainability[49] - The Group plans to focus on digitization and the use of IoT and energy-saving technologies to adapt to changing customer needs[36] Corporate Governance - The company has established four Board Committees: Executive Committee, Remuneration Committee, Audit Committee, and Nomination Committee to oversee various aspects of the affairs[151] - The Board consists of two Executive Directors and four Independent Non-executive Directors, ensuring a majority of independent members[145] - The company has complied with all applicable code provisions of the Corporate Governance Code, except for provision C.2.1 for the year ended March 31, 2023[138] - The daily operations of the Group's business are executed by the management under the supervision of the Executive Committee[152] - The Company has implemented a Board Diversity Policy, which emphasizes meritocracy and considers various diversity perspectives for Board appointments[177] - The Board currently consists of all male members and aims to appoint one female member by December 31, 2024, to enhance gender diversity[179] Employee and Staff Management - The total staff costs amounted to approximately HK$117.7 million, including retirement benefits and wage subsidies[134] - The Group employed 226 staff as of March 31, 2023, a decrease from 235 staff in 2022[134] - The Company will review employee turnover and recruitment data to adjust recruitment targets and strategies as necessary[180] Financial Management - The Group's cash and cash equivalents decreased to approximately HK$159.2 million, and borrowings decreased by approximately HK$65.6 million to approximately HK$1,433.3 million[81] - The gearing ratio slightly increased from 56.1% to 57.0%, mainly due to a reduction in capital and reserves from currency translation[81] - The current ratio was reduced to 0.68 due to the reclassification of long-term bank loans to current liabilities[82] - The Group's capital expenditure was primarily financed through cash generated from operating activities[101]
沪港联合(01001) - 2023 - 年度财报