Financial Performance - The company's revenue for the fiscal year ended March 31, 2023, increased by approximately 11.8% to about HKD 204.6 million, compared to HKD 183.0 million in the previous year[9]. - The net profit for the year decreased by approximately 80.0% to about HKD 3.9 million, down from HKD 19.5 million in the previous year[9]. - Sales to Indonesian and Philippine users increased by approximately HKD 39.6 million, partially offset by a decrease of about HKD 18.0 million in sales to other users[9]. - The gross profit decreased by approximately HKD 13.9 million or 23.5% to about HKD 45.3 million, with the overall gross margin dropping from approximately 32.3% to about 22.1%[16]. - Other income increased by approximately 106.7% to about HKD 3.1 million, compared to HKD 1.5 million in the previous year[17]. - Selling and distribution expenses decreased by approximately 4.7% to about HKD 22.5 million, down from HKD 23.6 million in the previous year[19]. - Administrative expenses increased by approximately 57.0% to about HKD 21.2 million, compared to HKD 13.5 million in the previous year[20]. - The company's profit attributable to owners for the year was approximately HKD 3.9 million, a decrease of about 80.0% compared to approximately HKD 19.5 million for the year ended March 31, 2022[23]. Assets and Liabilities - As of March 31, 2023, the group's inventory was approximately HKD 59.8 million, a decrease of approximately HKD 36.9 million from approximately HKD 96.7 million as of March 31, 2022, primarily due to increased sales[24]. - The net current assets as of March 31, 2023, were approximately HKD 163.3 million, an increase from approximately HKD 159.2 million as of March 31, 2022, with the current ratio rising from about 18.3 times to about 22.4 times[26]. - The company had no outstanding debts as of March 31, 2023, maintaining a debt-to-equity ratio of zero[28]. - The company's distributable reserves as of March 31, 2023, amounted to HKD 65,950,000, slightly down from HKD 66,039,000 in the previous year[154]. Business Strategy and Development - The company plans to expand its market share in the prepaid product sector targeting Indonesian and Philippine users, and other users[10]. - The company is developing an online platform for prepaid product sales[10]. - The company has obtained 14 new prepaid products from suppliers for sale during the fiscal year[14]. - The company plans to explore new business opportunities to enhance shareholder value at an appropriate time[37]. Corporate Governance - The company reported a commitment to high standards of corporate governance, ensuring shareholder interests and enhancing corporate value[62]. - The board of directors confirmed compliance with the corporate governance code throughout the year, maintaining transparency and accountability[62]. - The company has adopted the principles and code provisions of the corporate governance code as the foundation for its governance practices[62]. - The board consists of a diverse group of members, including executive, non-executive, and independent directors, ensuring effective oversight[68]. - The roles of the chairman and the chief executive officer are separated to enhance governance and operational effectiveness[70]. - The company emphasizes the importance of ethical business standards and aims to provide high-quality products and services to customers[63]. - The board is responsible for strategic decision-making and monitoring the company's performance in the best interests of shareholders[66]. - The company has established written guidelines for employees likely to possess unpublished sensitive price information to prevent insider trading[65]. - The company has a dedicated audit committee to oversee financial reporting and compliance matters[68]. Risk Management - The board confirmed its responsibility for risk management and internal control systems, which aim to manage risks rather than eliminate them[109]. - The audit committee assisted the board in overseeing the design, implementation, and monitoring of risk management and internal control systems[110]. - The board conducted an annual review of the effectiveness of the group's risk management and internal control systems, finding them to be effective and adequate for the year[112]. - The company has implemented various policies and procedures to ensure effective risk management across operational, financial reporting, and compliance aspects[110]. Employee and Board Composition - As of March 31, 2023, the group had 45 employees, with 12 males and 33 females, representing 26.7% and 73.3% respectively, indicating a stable overall workforce[93]. - The company aims to recommend at least one female candidate for board appointment by December 31, 2024, to enhance gender diversity on the board[91]. - The nomination committee is committed to maintaining diversity across various levels of the organization, considering factors such as gender, age, cultural background, and professional experience[92]. - The board's composition has not changed during the year, maintaining its established diversity policy goals[100]. Shareholder Relations - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders[132]. - The board is responsible for the timely and fair disclosure of inside information[114]. - The company has no significant uncertainties regarding its ability to continue as a going concern[119]. Charitable Contributions - The company made charitable donations of approximately HKD 750,000 for the year, compared to HKD 337,000 in the previous year, reflecting an increase in community support[156]. Compliance and Legal Matters - The company has implemented compliance and risk management policies, ensuring adherence to significant legal and regulatory requirements[199]. - There were no significant violations of anti-corruption laws and regulations noted during the year[117]. - The company has implemented a whistleblowing procedure for employees to confidentially report concerns regarding financial reporting or internal controls[113].
恒月控股(01723) - 2023 - 年度财报