Financial Performance - The group's revenue increased by 27% to HKD 1,737,600,000 in the fiscal year 2021, compared to HKD 1,373,500,000 in 2020[9] - Net profit after tax grew by 22% to HKD 142,000,000, up from HKD 116,300,000 in the previous year[9] - Quarto Group's revenue reached $151,500,000, up from $126,900,000 in the previous year, representing a growth of approximately 19.5%[11] - Gross profit for the same period was HKD 447,085, representing a 32.4% increase compared to HKD 337,961 in 2020[134] - Net profit for the year was HKD 142,025, up 22.1% from HKD 116,305 in the previous year[134] - Basic earnings per share increased to HKD 17.89 from HKD 13.59, reflecting a growth of 31.5%[134] Market and Sales Growth - The Australian book market experienced a strong year, with sales growing by 17% year-on-year, despite temporary disruptions due to COVID-19 restrictions[9] - The printing manufacturing segment saw a sales increase of 32%, achieving a historical high driven by strong demand from US and UK clients[9] - The APOL group reported a 24% year-on-year sales growth, attributed to strong performances in the US, Europe, and Australia[9] Supply Chain and Operations - The company emphasized enhancing supply chain capabilities across its three business segments as a key priority[7] - The company aims to leverage its regional diversification strategy to flexibly serve customers and mitigate potential supply chain disruptions[4] - The company is undergoing infrastructure upgrades in its COS segment, with production facilities being relocated from Singapore to Malaysia, which is expected to continue incurring losses during the transition period[9] Financial Position and Assets - As of December 31, 2021, the group's net current assets were approximately HKD 595.1 million, down from HKD 617.7 million in 2020, with cash and cash equivalents at HKD 431.9 million compared to HKD 502.3 million in 2020[15] - The group's current ratio was approximately 2.0, a decrease from 2.2 in 2020[15] - Total bank borrowings and lease liabilities amounted to approximately HKD 335.7 million, an increase from HKD 290.3 million in 2020[15] - The capital debt ratio as of December 31, 2021, was 24.9%, up from 22.7% in 2020[15] - Total assets as of December 31, 2021, amounted to HKD 1,405,774, an increase from HKD 1,364,143 in 2020[137] Expenses and Costs - Administrative expenses rose from approximately HKD 98,500,000 to about HKD 109,200,000, with employee costs increasing by around HKD 16,100,000[13] - Sales and distribution expenses increased from approximately HKD 170,700,000 to about HKD 209,100,000, while the ratio of these expenses to sales decreased from 12.4% to 12.0%[13] - The shipping cost for transporting a 40-foot container from China to the US West Coast increased from $5,000 in 2020 to $18,000 in 2021, raising the cost per book by about $0.7[11] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.03 per share, totaling HKD 23,100,000, compared to no interim dividend in the previous year[56] - The proposed final dividend for the year is HKD 0.06 per share, an increase from HKD 0.05 per share in the previous year[56] - As of December 31, 2021, the company's distributable reserves amounted to approximately HKD 378,000,000[56] Risk Management and Compliance - The company is committed to sustainable operations, focusing on environmental policies and practices[54] - The company faces risks from macroeconomic conditions and the shift towards digital media, which may impact demand for printed materials[54] - The company is subject to various legal regulations in the countries where it operates, ensuring compliance with applicable laws[54] Corporate Governance - The board of directors includes members with substantial shareholdings, with Mr. Liu holding 345,134,623 shares, representing 44.82% of the issued share capital[60] - The company has adopted corporate governance practices in compliance with the Hong Kong Stock Exchange listing rules[79] - The independent non-executive directors have confirmed their independence in accordance with the listing rules[79] - The board is responsible for overseeing the preparation of the financial statements for the year ending December 31, 2021[85] Audit and Financial Reporting - The Audit Committee is responsible for overseeing the relationship with external auditors and reviewing financial reports and internal controls[98] - The total fees for audit services provided by the auditors amounted to HKD 1,709,000, including HKD 1,300,000 for financial report audits[100] - The financial statements have been prepared in accordance with the Hong Kong Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance[116] Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[143] - Future guidance indicates a cautious but optimistic outlook, with expected revenue growth in the upcoming fiscal year[143]
狮子山集团(01127) - 2021 - 年度财报