Financial Performance - The company reported a total customer sales revenue of HKD 48.5 million, an increase of 54.5% from HKD 31.4 million in the previous year[13]. - Total revenue for the year was HKD 10.3 million, up 60.9% from HKD 6.4 million in the prior year[13]. - The loss attributable to the company's owners was HKD 17.9 million, compared to a loss of HKD 32.9 million in the previous year[13]. - Basic loss per share was HKD 3.5, improved from HKD 6.5 in the previous year[5]. - The return on equity was -29.4%, an improvement from -42.0% in the previous year[6]. - The group's total other income and gains decreased significantly from HKD 34.4 million to HKD 7.9 million, primarily due to a reduction in government subsidies from HKD 19.7 million to HKD 4.1 million[18]. Cost Control Measures - The company implemented strict cost control measures, including reducing the number of stores and negotiating rent reductions[8]. - Sales and distribution costs for the year ended March 31, 2022, were HKD 9.0 million, a decrease of 60.7% from HKD 22.9 million, attributed to a reduction in frontline staff costs and other employee expenses[19]. - Administrative expenses for the year ended March 31, 2022, were HKD 20.9 million, down 55.8% from HKD 47.3 million, mainly due to reductions in employee costs and other operating expenses[20]. - The group recorded an operating cash outflow of approximately HKD 7.6 million for the year ended March 31, 2022, compared to HKD 40.4 million in the previous year[22]. - The group is committed to prudent cost control measures to optimize the overall cost structure and enhance profitability amid the challenges faced by the tourism industry due to COVID-19[29]. Business Strategy and Expansion - The company plans to expand into the domestic tourism market in mainland China as travel restrictions ease[9]. - The group closed a poorly performing store in Wan Chai and opened a new restaurant in Central to diversify its business and expand revenue sources[16]. - The group has allocated additional resources to enhance private group tours and MICE teams, aiming to provide professional travel services and meet personalized customer needs[95]. - The group will continue to actively seek business opportunities to strengthen its profitability and maintain sustainable development capabilities[29]. Corporate Governance - The board of directors is committed to maintaining high standards of corporate governance and has complied with all applicable code provisions of the Corporate Governance Code[37]. - The company has adopted the standard code for securities transactions by directors, confirming compliance by all directors during the year[38]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring compliance with listing rules[39]. - The company held four regular board meetings during the year, adhering to the schedule of at least one meeting per quarter[42]. - The company has established three committees: Nomination Committee, Remuneration Committee, and Audit Committee, all led by independent non-executive directors[47]. Risk Management - The board is responsible for maintaining an effective risk management and internal control system to protect shareholder investments and company assets[61]. - The company has implemented a risk management policy since 2016 to identify, assess, and mitigate risks effectively[61]. - The risk management framework categorizes risks into strategic, financial, compliance, and operational risks[77]. - The company conducts regular reviews of risk management policies to identify new risks and evaluate existing ones[88]. - The company encourages shareholders to submit proposals for discussion at shareholder meetings[73]. Environmental and Social Responsibility - The company is committed to becoming an ethical corporate citizen and promoting sustainable development in all business activities[102]. - The company donated 50 computers and 90 monitors to charitable organizations, demonstrating its commitment to reducing electronic waste[119]. - The company has implemented various measures to improve resource efficiency, including reusing office supplies and furniture to minimize waste[120]. - The company actively promotes water conservation practices among employees, despite not having significant water usage in its operations[118]. - The company has established a stakeholder communication policy to enhance dialogue with shareholders and ensure timely information dissemination[109]. Employee Engagement and Development - The company emphasizes the importance of employee engagement and satisfaction as key drivers of performance, implementing various recognition measures for outstanding individuals and teams[146]. - The company has a clear career development plan for frontline employees, offering competitive compensation and performance-linked rewards to encourage loyalty and teamwork[147]. - The company established an internal training department to enhance employee skills through various training programs, including on-the-job training and e-learning courses[141]. - The total training hours provided during the reporting period showed a decrease, with 140 hours for senior staff and 144.5 hours for general staff in the 2021/2022 fiscal year compared to previous years[143]. Shareholder Information - The group did not declare any interim dividends for the six months ending September 30, 2020, and the board has resolved not to recommend a final dividend for the year ending March 31, 2022[161]. - The company has no distributable reserves as of March 31, 2022, according to the Cayman Islands Companies Law[174]. - The company has not declared any dividends for the year ending March 31, 2022, similar to the previous year[161]. - The group’s five largest customers accounted for less than 49% of total revenue, while the five largest suppliers accounted for 58.7% of total purchases, with the largest supplier accounting for 21.2%[175].
专业旅运(01235) - 2022 - 年度财报