Financial Performance - The group recorded total revenue of approximately HKD 176,803,000 for the year ended March 31, 2023, a decrease of about HKD 57,123,000 or 24.42% compared to HKD 233,926,000 in 2022[7]. - The gross profit for the year was approximately HKD 567,000, resulting in a gross margin of about 0.32%, down from 0.47% in the previous year[8]. - Administrative expenses decreased by 40.14% to approximately HKD 18,856,000 from about HKD 31,499,000 in 2022[9]. - The group reported a loss attributable to owners of approximately HKD 50,721,000, compared to a loss of HKD 127,083,000 in 2022[10]. - Total borrowings increased to approximately HKD 229,128,000 from HKD 187,309,000 in the previous year[11]. - The group's asset-to-liability ratio (excluding cash and cash equivalents) rose to approximately 270.1% from 125.0% in 2022[13]. - Cash and cash equivalents totaled approximately HKD 9,456,000, down from HKD 14,190,000 in the previous year[13]. - The current ratio at the fiscal year-end was approximately 0.32, down from 1.01 in the previous year[14]. - The board has decided not to recommend a final dividend for the year ending March 31, 2023, compared to none in the previous year[15]. - As of March 31, 2023, the company had no available reserves for distribution to shareholders (2022: none) [37]. Strategic Initiatives - The company aims to enhance operational efficiency by standardizing procedures and simplifying processes to eliminate redundancies and bottlenecks[16]. - Future strategies include strengthening budget management and implementing strict cost control measures to restore profitability[16]. - The company is actively seeking growth opportunities through acquisitions or investments and is in discussions with multiple parties regarding such activities[17]. - Plans to conduct fundraising activities, such as share placements or loan capitalizations, to improve financial conditions[17]. Corporate Governance - The company has established service agreements with executive directors for a term not exceeding three years, which will continue until terminated by either party with one month's written notice[39]. - The remuneration of directors is subject to approval by shareholders at the annual general meeting[41]. - The company has not received any notifications regarding major shareholders holding any short positions as of March 31, 2023[53]. - Major shareholders include Mr. Lin Qingqu and the Weijun Investment Fund, both holding significant stakes in the company[50]. - The company has not received any notifications of individuals holding any interests or short positions that require disclosure under the Securities and Futures Ordinance[54]. - The company’s major shareholders have been disclosed in accordance with the Securities and Futures Ordinance[50]. - The company has three board committees: the Remuneration Committee, Audit Committee, and Nomination Committee, to strengthen operational functions[102]. - The board is responsible for reviewing its composition and monitoring the independence of non-executive directors[92]. - The company is committed to achieving board diversity, considering factors such as gender, age, nationality, and professional experience[97]. Risk Management - The board of directors is responsible for the risk management and internal control systems, which are continuously reviewed for effectiveness[122]. - The group has identified significant risks in its operating environment and has measures in place to manage these risks[123]. - An external consultant conducts the internal control review, reporting directly to the audit committee, with findings communicated to management for corrective actions[124]. - The group conducts annual reviews of its risk management and internal control systems, covering all significant controls including financial and operational[127]. Environmental, Social, and Governance (ESG) - The ESG report aims to provide stakeholders with a comprehensive understanding of the group's performance in environmental protection, labor policies, operational practices, and community engagement[133]. - Key performance indicators (KPIs) in the ESG report are quantifiable, allowing for comparisons with industry standards and past performance[134]. - The group aims to integrate ESG considerations into daily operations and has developed key performance indicators for ESG, comparing them with the results from the 2022 fiscal year[137]. - The group has committed to sustainable development as a crucial aspect of future growth, with the board responsible for setting the direction and strategy for sustainability[139]. - The group reported a 40.41% reduction in nitrogen oxides (NOx) emissions, from 1,679.83 grams in 2022 to 1,000.98 grams in 2023[153]. - The group has set a KPI target to reduce NOx emissions density by 2% before 2027, based on 2022 as the baseline year[156]. - The group emphasizes the importance of preventing child labor and forced labor, customer information and privacy protection, and compliance with intellectual property rights as key ESG focus areas[149]. Employee Management - The group has a total of 15 employees as of March 31, 2023, primarily located in Hong Kong[72]. - The total number of employees increased by 9.09% to 27 as of March 31, 2023, compared to the previous year[186]. - Employee turnover rate rose significantly from 17% to 73% year-on-year[188]. - All employees are provided with fair compensation and benefits, including medical insurance and statutory holidays[191]. - Employee training is emphasized as a key component for enhancing skills and improving work quality[200]. - The group encourages participation in external training programs and provides training subsidies for employees[200].
伟俊集团控股-新(01013) - 2023 - 年度财报