Financial Performance - The Group's overall revenue decreased by approximately 19.5% to approximately HK$751,767,000 for the year ended 31 March 2022, compared to approximately HK$933,797,000 in 2021[10]. - The loss attributable to owners of the Company amounted to approximately HK$18,346,000 for the year ended 31 March 2022, compared to a profit of approximately HK$1,071,000 in 2021[10]. - The overall gross profit decreased by 28.6% from approximately HK$41,653,000 for the year ended 31 March 2021 to approximately HK$29,748,000 for the year ended 31 March 2022, with the gross profit margin decreasing from approximately 4.5% to 4.0%[21]. - The Group's other income decreased from approximately HK$12,699,000 for the year ended 31 March 2021 to approximately HK$8,084,000 for the year ended 31 March 2022, primarily due to the absence of a non-recurring government grant received in the previous year[21]. - Administrative and other operating expenses increased by 6.5% from approximately HK$43,626,000 for the year ended 31 March 2021 to approximately HK$46,441,000 for the year ended 31 March 2022[21]. - The Group reported a net loss of approximately HK$18,346,000 for the year ended 31 March 2022, compared to a net profit of approximately HK$1,071,000 in 2021[24]. - Total debts of the Group increased to approximately HK$281,749,000 as at 31 March 2022, up from approximately HK$201,952,000 in 2021[24]. - The gearing ratio of the Group as at 31 March 2022 was approximately 375.0%, significantly up from approximately 216.0% in 2021[30]. - The Group's finance costs increased from approximately HK$7,513,000 in 2021 to approximately HK$8,825,000 in 2022, primarily due to increased interest payments to banks[24]. - The current ratio of the Group remained stable at approximately 1.2 as at 31 March 2022[30]. Market Outlook and Strategy - The COVID-19 pandemic has created a challenging operating environment, exacerbated by supply chain disruptions and workforce shortages[10]. - The Group will adopt different tendering strategies and foster long-term relationships with quality customers to maintain competitiveness in the market[10]. - The Hong Kong Government's focus on increasing land supply and housing development is expected to positively impact the foundation industry in the medium to long term[10]. - The Group remains prudently optimistic about the prospects of the foundation industry in Hong Kong despite current challenges[15]. - The Group aims to balance risks and opportunities in the foundation industry while pursuing its core business[15]. - The Board will closely monitor developments in the global economy and adjust business strategies as necessary[15]. - The Group will continue to explore suitable investment opportunities to broaden its revenue base[14]. - The Group commenced trading of electronic devices during the year ended 31 March 2022 to diversify income streams and business risks[19]. Corporate Governance - The Group has complied with all applicable code provisions of the Corporate Governance Code as of March 31, 2022[41]. - The Board consists of five members, including two Executive Directors and three Independent Non-executive Directors[47]. - The Group has adopted a Board Diversity Policy considering factors such as gender, age, and professional experience[49]. - The Audit Committee, composed of three independent non-executive directors, held two meetings during the year ended March 31, 2022[72]. - The company has adopted a board diversity policy aiming for gender parity and appropriate representation of different ethnic backgrounds[55]. - The company has complied with the Listing Rules regarding the appointment of independent non-executive directors, confirming their independence[62]. - The chairman, Mr. Chen Rongsheng, oversees overall management, including daily operations and strategic planning[69]. - The company arranged seminars for directors as continuing professional training for corporate governance and compliance purposes[68]. - The Audit Committee is responsible for reviewing the company's financial information and overseeing risk management and internal control systems[71]. - The Nomination Committee will monitor the implementation of the Board Diversity Policy and report annually[56]. Environmental, Social, and Governance (ESG) Initiatives - The Group's ESG Report for the year ended March 31, 2022, demonstrates its commitment to sustainable development by balancing environmental, social, and economic benefits for stakeholders[148]. - The Board and management dedicated substantial time to evaluating ESG-related risks and formulating policies to address these risks during the fiscal year[150]. - The Group has identified key ESG issues through stakeholder engagement and materiality assessments, ensuring that significant impacts on the business are covered[150]. - The Group is committed to minimizing adverse environmental impacts by complying with legal requirements and reducing pollution from its operations[162]. - The Group aims to reduce waste and resource consumption while promoting recycling of construction materials in its processes[165]. - The Group has received major recognitions for its environmental management systems, including ISO 50001:2018 and ISO 14001:2015 certifications[157][158]. - The Group's greenhouse gas (GHG) emissions for the year ended March 31, 2022, totaled 5,838.4 tonnes, a decrease of 10.9% from 6,552.1 tonnes in 2021[183]. - Total construction waste disposed of at landfills was approximately 40,242 tonnes, a significant decrease of 76.8% from 172,840 tonnes in 2021[187]. - The Group achieved its GHG emission target of 7,000 tonnes for the year ended March 31, 2022[185]. - The Group emphasizes environmental responsibility by implementing management policies to reduce waste and avoid overuse of resources[199].
剑虹集团控股(01557) - 2022 - 年度财报