Financial Performance - Total revenue increased by approximately HKD 20.7 million or 35.9% to about HKD 78.3 million for the fiscal year ending March 31, 2022, compared to approximately HKD 57.6 million for the previous year[21]. - The company reported a profit of approximately HKD 0.6 million for the fiscal year ending March 31, 2022, a significant improvement of about HKD 1.1 million or 220.0% from a loss of approximately HKD 0.5 million in the previous year[21]. - Revenue increased by approximately 35.9% from HKD 57.6 million for the year ended March 31, 2021, to HKD 78.3 million for the year ended March 31, 2022, primarily due to an increase in new contracts for fire safety system installations[30]. - The total profit and comprehensive income for the year was approximately HKD 0.6 million, a significant increase of approximately 220.0% from a loss of HKD 0.5 million in the previous year[42]. Project and Market Outlook - The company has unconfirmed revenue totaling over HKD 80 million as of March 31, 2022, with several projects in hand, including a HKD 31 million project at the Hong Kong Polytechnic University and two additional projects each exceeding HKD 20 million[23]. - The company anticipates more bidding opportunities in the Hong Kong fire safety market in the second half of the fiscal year, despite ongoing challenges from COVID-19[23]. - The company is optimistic about the fire safety market in Hong Kong, with an increase in tender opportunities and higher tender amounts compared to previous years[doc id='27']. Cost and Profitability - Direct costs rose by approximately 30.1% from HKD 42.5 million to HKD 55.3 million, aligning with the revenue increase[32]. - Gross profit increased by approximately 52.3% from HKD 15.1 million to HKD 23.0 million, with the overall gross profit margin rising from approximately 26.3% to 29.4%[33]. - Other income decreased by approximately 84.0% from HKD 2.5 million to HKD 0.4 million, mainly due to the lack of government subsidies under the employment support scheme[34]. Financial Position - As of March 31, 2022, the company maintained a strong cash position with cash and cash equivalents of approximately HKD 67.5 million, down from HKD 72.1 million in the previous year[43]. - The current ratio as of March 31, 2022, was approximately 16.2 times, compared to 17.6 times in the previous year[44]. - The company has no interest-bearing bank borrowings or other borrowings as of March 31, 2022[45]. Employee and Operational Insights - As of March 31, 2022, the group employed a total of 42 employees, with employee costs amounting to approximately HKD 19.8 million, an increase from HKD 17.4 million in 2021[55]. - The group has not encountered any significant difficulties in procuring materials or hiring subcontractors during the fiscal year[64]. - The group has maintained good relationships with employees, with no significant labor disputes reported[55]. Corporate Governance - The board of directors consists of five members, including two executive directors and three independent non-executive directors[89]. - The company has adopted a board diversity policy to ensure a balanced composition of skills, experience, and perspectives among its directors[92]. - The board has confirmed compliance with all applicable corporate governance code provisions, except for a deviation regarding the separation of the roles of chairman and CEO[86]. - The company has established five board committees, including the audit committee, remuneration committee, nomination committee, risk and technology committee, and the environmental, social, and governance committee[105]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of integrating environmental, social, and governance (ESG) principles into its risk management system to align with sustainable business practices[143]. - The company is committed to sustainable development and recognizes the importance of environmental protection and resource conservation[143]. - The company has identified 16 key ESG issues, with health and safety, anti-corruption, and data protection being among the top priorities[161]. - The company has established an environmental and waste management plan to minimize the potential adverse impacts of solid waste, chemical waste, general waste, and wastewater generated from its operations[186]. Emissions and Waste Management - The company generated a total greenhouse gas emission of 58.28 tons of CO2 equivalent in the fiscal year 2022, an increase from 54.49 tons in 2021, representing a 5.2% rise[181]. - The paper waste disposal amount was 1.83 tons in 2022, a decrease from 1.92 tons in 2021, representing a 4.7% reduction[193]. - The company has set a target to reduce the total density of harmless waste by 2025, using the reporting period as a baseline[196]. - The company has implemented measures to optimize operational procedures to increase loading rates and reduce idle vehicle time, contributing to lower direct greenhouse gas emissions[182].
莹岚集团(01162) - 2022 - 年度财报