Financial Performance - For the fiscal year ended March 31, 2022, the company reported total revenue of HKD 1,016,162,000, a significant increase from HKD 216,710,000 in the previous year, representing a growth of approximately 369%[1] - The gross profit for the same period was HKD 108,422,000, compared to HKD 18,971,000 in the prior year, indicating a substantial increase in profitability[1] - The company incurred a net loss of HKD 755,735,000 for the year, a significant increase from a net loss of HKD 175,490,000 in the previous year, reflecting a deterioration in financial performance[1] - The total comprehensive loss for the year amounted to HKD 714,187,000, compared to a comprehensive loss of HKD 56,912,000 in the previous year, highlighting ongoing challenges[3] - The company reported a significant increase in revenue from property development, with HKD 1,004,596,000 generated in the year ended March 31, 2022, compared to HKD 204,342,000 in the previous year[39]. - The company experienced a pre-tax loss of HKD 744,781,000 for the year ended March 31, 2022, compared to a pre-tax loss of HKD 180,629,000 for the previous year[36]. - The net loss for fiscal year 2022 was approximately HKD 755.7 million, a significant increase from HKD 175.5 million in fiscal year 2021, primarily due to fair value losses on investment properties and impairment losses[91] Assets and Liabilities - The company's total non-current assets as of March 31, 2022, were valued at HKD 2,069,008,000, slightly down from HKD 2,107,432,000 a year earlier[5] - Current assets decreased to HKD 1,425,744,000 from HKD 1,660,927,000, indicating a reduction in liquidity[5] - Total current liabilities were reported at HKD 2,482,471,000, down from HKD 2,798,898,000, suggesting improved management of short-term obligations[7] - The company's net asset value decreased to HKD 251,169,000 from HKD 953,023,000, reflecting a significant decline in equity[7] - Total assets amounted to HKD 3,494,752,000 as of March 31, 2022, compared to HKD 3,768,359,000 as of March 31, 2021[36]. - The company reported total liabilities of HKD 3,243,583,000 as of March 31, 2022, compared to HKD 2,815,336,000 as of March 31, 2021[36]. - The group’s net current liabilities were approximately HKD 1,056.7 million as of March 31, 2022, compared to approximately HKD 1,138.0 million as of March 31, 2021[101] - The group has a total borrowing of HKD 1,541,006,000, with secured loans ranging from 4.1% to 15% interest rates[67] Shareholder and Investment Information - Basic and diluted loss per share for the year was HKD 38.13, compared to HKD 12.70 in the previous year, indicating a worsening loss per share[3] - Major shareholders have agreed not to demand repayment of HKD 754,632,000 until the group is able to repay[10] - The group is actively seeking potential investors interested in co-developing or purchasing projects[12] - The group has issued 1,358,000,000 shares with a paid-up capital of HKD 339,500,000 as of March 31, 2022[69] Operational Segments - The group operates in four main segments: property development, wellness resort development and operation, foundation piling, and securities investment[32] - The group’s foundation piling division did not contribute any revenue in the fiscal year 2022, compared to approximately HKD 0.6 million in the previous fiscal year[77] Expenses and Costs - The company incurred administrative and other expenses of HKD 59,666,000 for the year ended March 31, 2022, down from HKD 69,702,000 in the previous year[42]. - Selling and distribution expenses increased from approximately HKD 15.7 million in fiscal year 2021 to about HKD 19.4 million in fiscal year 2022, driven by increased advertising and marketing personnel costs[86] - Interest expenses from borrowings and contract liabilities increased to HKD 264,465,000 in 2022 from HKD 182,132,000 in 2021, representing a growth of 45.1%[48] - The cost of properties sold surged to HKD 893,551,000 in 2022 compared to HKD 184,738,000 in 2021, marking an increase of 384.5%[48] Tax and Compliance - The total tax expense for the year was HKD 10,954,000 in 2022, compared to a tax credit of HKD 5,139,000 in 2021[51] - The company has confirmed compliance with the corporate governance code throughout the fiscal year 2022, except for deviation from code provision A.2.1 regarding the separation of roles between the chairman and CEO[119] - All directors have confirmed compliance with the standard code of conduct for securities trading throughout the fiscal year 2022[120] Future Plans and Developments - The group plans to develop a comprehensive industrial park with an estimated total construction area of approximately 160,090 square meters, expected to be completed by April 2024[74] - The company plans to develop integrated industrial parks focusing on biomedicine and artificial intelligence, leveraging resources from its major shareholder[94] - The company aims to enhance its operational service capabilities in integrated industrial parks and develop light asset service businesses[95] Audit and Reporting - The audit committee has reviewed the unaudited consolidated financial statements for the fiscal year 2022 and discussed accounting policies, risk management, and internal control systems with senior management[124] - Due to COVID-19 restrictions, the completion of the audit process was delayed, affecting the timeline for the audited financial statements for the year ending March 31, 2022[125] - The company plans to publish further announcements regarding the audited financial results and adjustments after the completion of the audit process, expected by July 29, 2022[126]
保集健康(01246) - 2022 Q4 - 年度财报