Financial Performance - The group's revenue decreased by approximately 2.3% from about HKD 520.2 million in the previous fiscal year to about HKD 508.5 million for the fiscal year ending March 31, 2023[14]. - Gross profit fell by approximately 42.2%, from about HKD 79.4 million in the previous fiscal year to about HKD 45.9 million, resulting in a gross margin of approximately 9.0% compared to 15.3% in the previous year[15]. - The group recorded a profit attributable to shareholders of approximately HKD 8.6 million for the fiscal year 2023, down from HKD 32.5 million in fiscal year 2022, representing a decline of about 73.5%[20]. - As of March 31, 2023, the group had net current assets of approximately HKD 141.6 million, a decrease from HKD 195.6 million as of March 31, 2022[21]. - The total equity attributable to shareholders was approximately HKD 206.5 million as of March 31, 2023, down from HKD 222.9 million a year earlier[21]. - The debt-to-equity ratio increased to approximately 29.1% as of March 31, 2023, compared to 16.6% on March 31, 2022, primarily due to the recognition of lease liabilities[23]. - The total employee cost for the fiscal year 2023 was approximately HKD 134.1 million, a slight decrease from HKD 137.3 million in the previous year[27]. - The group did not declare or propose any dividends for the fiscal year 2023, compared to a dividend of HKD 0.025 per share in fiscal year 2022[34]. Operational Developments - The overall revenue decline was primarily due to increased direct costs from leasing new warehouses and renewing existing warehouse lease agreements[7]. - The demand for air freight ground handling services is gradually recovering, with new customers acquired during the fiscal year[13]. - The company plans to construct a new warehouse of approximately 130,000 square feet near Hong Kong International Airport, with various upgrades and installations planned for operational efficiency[35]. - The company has purchased ten 16-ton trucks and one 5.5-ton truck, exceeding the initial plan of acquiring two 5.5-ton trucks and three 9-ton trucks[36]. - The group has installed six X-ray machines and two explosive detectors to upgrade air cargo security inspection facilities[36]. - The company has upgraded its existing warehouse management system and implemented a new human resources management system, which went live in Q4 2022[42]. - The company purchased an electric truck and an X-ray machine during the fiscal year 2023 to upgrade existing equipment and acquire additional vehicles[42]. Strategic Outlook - The company remains cautiously optimistic about future business performance despite ongoing global market volatility, with a focus on maintaining good relationships with existing customers and acquiring new ones[9]. - The company plans to strategically implement cost control measures to mitigate the negative impacts of global economic uncertainties[9]. - The company aims to enhance service quality and actively explore new business opportunities to maximize shareholder returns[9]. Corporate Governance - The company emphasizes high standards of corporate governance to maintain shareholder trust and create long-term value[81]. - The company has adopted the principles and code provisions of the Corporate Governance Code as per the Stock Exchange Listing Rules, ensuring compliance throughout the fiscal year 2023[82]. - The company has established policies to monitor liquidity needs regularly to maintain sufficient cash reserves for short-term and long-term obligations[46]. - The company has complied with all relevant laws and regulations, with no significant violations reported during the review year[52]. - The company has established a diversity policy for its board members, with a commitment to appoint at least one female director by December 31, 2024[85]. - The board is responsible for fostering a corporate culture that aligns with the company's vision, values, and business strategy, which is crucial for sustainable growth[90]. - The company has established three board committees: the remuneration committee, nomination committee, and audit committee, each with clear written terms of reference[105]. Risk Management - The company maintains an effective internal control and risk management system to safeguard shareholder investments and group assets[140]. - Risk identification and assessment are conducted annually, with detailed records maintained for board and management review[141]. - The audit committee reviewed the internal control system and found it effective and sufficient for the fiscal year 2023[145]. - No significant fraud or misconduct incidents affecting the financial statements were reported for the year ending March 31, 2023[146]. Shareholder Communication - Multiple communication channels have been established to ensure shareholders and potential investors receive timely and unbiased information[149]. - The board has reviewed the implementation and effectiveness of the shareholder communication policy for the fiscal year ending March 31, 2023[150]. - Shareholders can propose resolutions at the general meeting, ensuring their rights and interests are protected[136]. Environmental and Social Responsibility - The company has not incurred any direct costs related to compliance with environmental protection laws during the reporting period[49]. - The company is committed to the highest standards of integrity and ethical behavior through its anti-corruption policy[147]. - The company has not made any charitable donations in the fiscal year 2023, consistent with the previous fiscal year[168].
亚洲实业集团(01737) - 2023 - 年度财报