Financial Performance - The company reported a profit attributable to equity shareholders of approximately HKD 8 million for the fiscal year 2022, maintaining stability compared to the previous fiscal year[10]. - The group's revenue for the fiscal year 2022 was approximately HKD 712.5 million, an increase of about 12% from HKD 637.3 million in the fiscal year 2021[27]. - The group recorded a pre-tax profit of approximately HKD 25.8 million for the fiscal year 2022, compared to HKD 22.6 million in the fiscal year 2021[27]. - The gross profit for the fiscal year 2022 was approximately HKD 131.0 million, a 19% increase from HKD 110.3 million in the previous fiscal year, with a gross margin rising from 17% to 18%[28]. - The net profit for the fiscal year 2022 was approximately HKD 18.9 million, representing an 18% increase from HKD 16.0 million in 2021, driven by a gross profit increase of approximately HKD 20.8 million[35]. - General and administrative expenses increased by approximately 26% to HKD 96.4 million, primarily due to higher employee costs[29]. - The income tax for the fiscal year 2022 was approximately HKD 6.9 million, reflecting a 5% increase from HKD 6.6 million in 2021, primarily due to an increase in net profit[34]. Revenue Segments - Revenue from the IT infrastructure solutions segment, IT maintenance and support services segment, and IT secondment services segment significantly increased, offsetting the decline in revenue from the IT application and solution development services segment[10]. - Revenue from the IT infrastructure solutions segment was approximately HKD 413.6 million, accounting for about 58% of total revenue, representing a 17% increase from HKD 352.9 million in the previous fiscal year[19]. - The IT maintenance and support services segment generated revenue of approximately HKD 147.4 million, which is about 21% of total revenue, reflecting a 10% increase from HKD 133.4 million in the previous fiscal year[23]. - The IT application and solution development services segment's revenue decreased by approximately 0.4% to HKD 128.6 million, accounting for about 18% of total revenue[18]. Cost Management - The company implemented effective cost control measures, particularly in hardware and software procurement and human resource management[10]. - The group's financing costs for the fiscal year 2022 amounted to approximately HKD 1.0 million, an increase of about 27% compared to HKD 0.8 million in 2021[33]. - Employee compensation for the fiscal year 2022 was approximately HKD 136.0 million, an increase from HKD 112.6 million in 2021[78]. Strategic Initiatives - The company aims to reassess and diversify its current business portfolio to prepare for future opportunities while maintaining a strong cash position[13]. - The company continues to strengthen sustainable governance and closely monitor the developments of the COVID-19 pandemic to protect employee interests and business operations[13]. - The company aims to enhance its operational efficiency and business development in both local and overseas markets[93]. - The company is focusing on market expansion and new product development, particularly in fintech and blockchain projects through Head & Shoulders X Inc.[85]. - The company is exploring potential mergers and acquisitions to enhance its market position and expand its service offerings[85]. Governance and Leadership - The board appointed two distinguished directors, enhancing the company's leadership and strategic direction[13]. - The board includes independent directors with extensive backgrounds in finance, law, and public service, ensuring independent judgment on strategy and performance[88][90]. - The company is committed to maintaining high standards of governance and resource management through its audit and compensation committees[88]. - The company has adopted a board diversity policy, considering various measurable aspects such as gender, age, ethnicity, knowledge, and tenure[195]. - The chairman and CEO roles are separated, with Leong Yeng Kit serving as executive director and chairman since August 17, 2021[193]. Shareholder Information - The company reported no final dividend for the fiscal year ending March 31, 2022, consistent with the previous year[109]. - As of March 31, 2022, the distributable reserves available for shareholders were approximately HKD 346.0 million, compared to HKD 315.8 million in 2021[116]. - The company granted stock options for a total of 40,000,000 ordinary shares to selected long-term employees and consultants as a reward for their contributions[11]. - A total of 29,864,000 stock options were exercised by employees and consultants during the fiscal year 2022, resulting in the issuance of 29,864,000 ordinary shares[53]. Risks and Challenges - The company relies heavily on contracts with major clients, with a significant risk of revenue decline if service demands from these clients decrease[103]. - The company’s projects are subject to cost overruns and delays, which could significantly impact its business and financial performance[101]. - The company has no assurance of extending existing agreements or securing new contracts after completing current projects, adding uncertainty to future revenue[105]. - The company’s financial performance and business outlook may be affected by various risks and uncertainties, including project execution challenges[101]. Asset Management - As of March 31, 2022, the group's total assets included investment properties valued at approximately HKD 220.1 million, accounting for about 28% of total assets[47]. - The group's current assets as of March 31, 2022, were approximately HKD 448.0 million, an increase from HKD 340.7 million in 2021, with cash and cash equivalents at approximately HKD 107.4 million[48]. - The group had unused bank financing of HKD 86.8 million as of March 31, 2022, with a liquidity ratio of approximately 2.5 times[49]. - The group’s equity attributable to shareholders was approximately HKD 531.0 million as of March 31, 2022, compared to HKD 483.6 million in 2021[48]. - The group’s asset-liability ratio was approximately 10% as of March 31, 2022, a slight decrease from 11% in 2021[49].
扬科集团(01460) - 2022 - 年度财报