Financial Performance - Total revenue for the year ended March 31, 2022, was HKD 120,521,000, a decrease from HKD 122,852,000 in the previous year, representing a decline of 1.8%[11] - The company reported a loss attributable to owners of HKD 60,495,000 for the year, compared to a loss of HKD 52,810,000 in the previous year, indicating an increase in losses of 14.4%[11] - Total assets as of March 31, 2022, were HKD 313,528,000, down from HKD 405,111,000 in the previous year, reflecting a decrease of 22.6%[11] - Total liabilities decreased to HKD 282,017,000 from HKD 313,229,000, a reduction of 10%[11] - The net asset value of the company was HKD 31,511,000, significantly lower than HKD 91,882,000 in the previous year, representing a decline of 65.7%[11] - The gross loss for the group was approximately HKD 2.4 million for the year ended March 31, 2022, compared to a gross loss of approximately HKD 16.9 million for the year ended March 31, 2021[50] - The pre-tax loss for the group was approximately HKD 54.6 million for the year ended March 31, 2022, compared to approximately HKD 52.5 million for the year ended March 31, 2021[57] - The company reported a loss of approximately HKD 12.4 million as of March 31, 2022, compared to a loss of HKD 4.1 million as of March 31, 2021[155] Revenue Breakdown - Revenue from building construction services was HKD 10,134,000, down from HKD 10,493,000, a decrease of 3.4%[11] - Revenue from renovation, extension, and decoration works was HKD 101,535,000, an increase of 6.3% from HKD 95,331,000 in the previous year[11] - Revenue from property development and investment rose to HKD 1,079,000 from HKD 644,000, marking a growth of 67.6%[11] - The construction services segment generated revenue of HKD 10,134,000, accounting for 8.4% of total revenue, while the renovation and alteration services segment contributed HKD 101,535,000, representing 84.3%[26] Market Strategy and Focus - The company is focusing on expanding its market presence and exploring new strategies for growth[14] - The company is focusing on property development and investment, particularly in Hong Kong and Southeast Asia, to increase its business share in this segment[17] - The company plans to adopt a low-risk bidding strategy and strict cost control measures to maintain competitiveness[18] - The company believes in the long-term growth of Japan's tourism industry despite the impact of COVID-19, anticipating a rebound in tourist numbers once travel restrictions are lifted[15] - The company is committed to monitoring market developments in Hong Kong and Japan and will flexibly reallocate resources to seize opportunities[19] Projects and Operations - The company has ongoing projects with expected revenue recognition of approximately HKD 98.5 million after March 31, 2022[27] - The company has a total of 2, 26, and 4 ongoing projects in building construction, renovation, and historical building restoration, respectively[26] - The company has ongoing projects with contract amounts exceeding HKD 3 million, including residential developments and renovations scheduled from 2018 to 2022[36] - The company has completed significant contracts valued at HKD 3 million or more, including various renovation and construction projects[28] - The company is involved in the renovation of a nursing home in Kwun Tong, expected to be completed by December 2021[36] - The company has a project for the restoration of a historical temple in Happy Valley, which started in August 2020 and is expected to finish by August 2021[36] - The company has a project for the renovation of public toilets in Tsuen Wan, scheduled from August 2021 to March 2022[36] Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as of March 31, 2022[89] - The board has confirmed compliance with the standard code for securities transactions by all directors for the fiscal year ending March 31, 2022[90] - The company has established written guidelines regarding employee trading of company securities, which are not less stringent than the standard code[91] - The board emphasizes the importance of corporate transparency and accountability in achieving better performance and enhancing corporate image[88] - The company has a diverse board with members holding significant experience in finance, accounting, and corporate governance[78][84] - The board includes independent non-executive directors who participate in major decision-making processes[79] - The company has implemented effective corporate governance procedures to lead the group towards better performance[88] - The board's governance practices are aligned with corporate governance codes, ensuring transparency and accountability in decision-making[110] Financial Management - The total interest-bearing borrowings amounted to approximately HKD 106.6 million as of March 31, 2022, compared to approximately HKD 98.9 million as of March 31, 2021[58] - The group’s capital debt ratio increased to 86% as of March 31, 2022, compared to 68% as of March 31, 2021[58] - The company currently has a capital debt ratio and liquidity ratio that are calculated based on net debt and total capital, ensuring sufficient operational funds for future needs[60] - The company has reduced its workforce to 57 employees as of March 31, 2022, down from 98 employees as of March 31, 2021, primarily due to the completion of major projects[63] - The company has implemented strict cost control measures to navigate external and local factors affecting economic performance[63] Shareholder Relations - The group emphasizes shareholder rights and encourages participation in shareholder meetings, allowing shareholders holding at least 10% of the paid-up capital to request special meetings[134] - The company is committed to effective communication with shareholders and provides extensive information on its website[135] - The board will review the dividend policy periodically, considering factors such as operational performance, cash flow, and future prospects[148] - The board did not recommend any dividends for the year ending March 31, 2022, consistent with the previous year[144] Environmental Compliance - The total compliance cost for environmental regulations applicable in Hong Kong for the year ended March 31, 2022, was approximately HKD 473,000, a decrease from HKD 814,000 for the year ended March 31, 2021[197] - The company has obtained ISO 14001:2015 certification for its environmental management system, ensuring adherence to environmental protection regulations[197] - The company has implemented measures to control air pollution, including monitoring vehicle leaks and prohibiting high-emission machinery on construction sites[197] - Waste disposal practices include using general-purpose disposal containers for controlled waste and conducting regular safety and environmental inspections[197] Related Party Transactions - Significant related party transactions for the year ended March 31, 2022, are detailed in the financial statements[200]
迪米生活控股(01667) - 2022 - 年度财报