Financial Performance - Revenue for the year ended March 31, 2022, increased by 44.6% to HK$62,647,000 from HK$43,324,000 in 2021[12]. - Gross profit improved significantly to HK$10,992,000, compared to a gross loss of HK$8,623,000 in the previous year, marking a 227.5% change[12]. - Loss before income tax decreased by 70.3% to HK$15,462,000 from HK$52,077,000 in 2021[12]. - Basic and diluted loss per share improved to HK$0.04, a reduction of 81.0% from HK$0.21 in the prior year[12]. - The consolidated loss attributable to equity holders for FY22 was HK$15.5 million, a substantial decrease of 70% compared to HK$51.8 million in FY21[32]. - Revenue from the Pearls and Jewellery Business Segment increased from HK$41.2 million in FY21 to HK$59.9 million in FY22[34]. - The gross profit margin for FY22 was 17.5%, a significant improvement from (19.9)% in FY21, reflecting a change of 37.4 percentage points[14]. - Selling and Administrative expenses decreased by HK$5.7 million or 26.8% to HK$15.6 million in FY22, down from HK$21.3 million in FY21, due to cost control measures[49]. - Loss attributable to equity holders decreased by HK$36.3 million or 70.1% to HK$15.5 million in FY22, compared to HK$51.8 million in FY21[49]. Assets and Liabilities - Net assets decreased by 21.9% to HK$35,867,000 from HK$45,945,000 in 2021[12]. - Cash and cash equivalents also declined by 3.4% to HK$23,585,000 from HK$24,424,000[12]. - The current ratio decreased to 1.7 in FY22 from 2.0 in FY21[14]. - The gearing ratio increased to 0.83 in FY22 from 0.65 in FY21[14]. - Outstanding borrowings were HK$29.8 million as of March 31, 2022, compared to HK$30.0 million in 2021[50]. - As of March 31, 2022, total equity was HK$35.9 million, a decrease of 21.8% from HK$45.9 million in 2021[50]. Business Strategy and Future Outlook - The Group continues to explore new business opportunities to maximize shareholder value in the future[9]. - The Company maintains its investment in the co-working space industry as part of its strategic investment and financial services segment[9]. - The Group plans to focus investments in real estate, co-working spaces, and asset management sectors, particularly in Europe and Asia[26]. - The Group is optimistic about the demand for co-working spaces post-pandemic due to changes in working hours and locations[40]. - The Group plans to enhance its mature pearls and jewellery business while actively participating in global jewellery fairs to optimize operational efficiency[47]. Risk Management - The Group faces strategic, economic, credit, and business risks, with mitigating actions in place to address these challenges[74]. - Liquidity risk is present as the Group may not meet financial obligations as they fall due, necessitating regular monitoring of liquidity and financial position[77]. - Price risk arises from changes in equity prices affecting the Group's income and equity holdings, requiring regular portfolio monitoring and diversification[77]. - Exchange risk is linked to fluctuations in foreign exchange rates impacting income and asset values, necessitating close monitoring of financial statements and cash flow[77]. - The Group aims to mitigate people risk by providing competitive reward packages and ensuring a conducive working environment to retain key personnel[80]. Corporate Governance - The Company has complied with all provisions of the Corporate Governance Code throughout the year ended March 31, 2022, except for certain deviations disclosed[95]. - The Board is committed to achieving the highest standard of corporate governance consistent with stakeholder interests[100]. - The Group recognizes the importance of high standards of corporate governance to manage business risks and enhance transparency[100]. - The Board held 9 meetings during the year ended March 31, 2022, with attendance details provided in the report[109]. - The Company emphasizes Board diversity, considering factors such as gender, age, cultural background, and professional experience in its appointments[122]. Environmental and Social Responsibility - HBF Jewellery has complied with all relevant PRC environmental laws and regulations in all material respects during the year ended March 31, 2022[187]. - The Group emphasizes minimizing environmental impact and promoting sustainability for future generations[185]. - Further discussion on the Group's environmental issues and policies will be included in the Environmental, Social and Governance Report for the year ended March 31, 2022[187].
钱唐控股(01466) - 2022 - 年度财报