Financial Performance - The company recorded a net profit of approximately HKD 3.0 million, an increase of 353.4% compared to approximately HKD 652,000 for the year ended March 31, 2021[5]. - Revenue increased by 14.5% to approximately HKD 511.6 million, up from approximately HKD 446.8 million for the year ended March 31, 2021[14]. - The gross profit reached approximately HKD 18.9 million, representing an increase of 113.1% from approximately HKD 8.9 million for the previous year[15]. - The group recorded a profit attributable to equity holders of approximately HKD 3.0 million, an increase of about HKD 2.3 million compared to the year ended March 31, 2021[21]. - Basic and diluted earnings per share increased to HKD 0.25 from HKD 0.05, indicating strong growth in profitability[180]. - Revenue for the year ended March 31, 2022, was HKD 511,568 thousand, an increase of 14.5% from HKD 446,846 thousand in the previous year[180]. - Gross profit for the same period was HKD 18,872 thousand, compared to HKD 8,856 thousand in the previous year, reflecting a significant improvement[180]. Contracts and Backlog - The company has a backlog of contracts amounting to over HKD 414.2 million as of March 31, 2022, indicating confidence in maintaining financial performance in the coming year[11]. - The company secured 5 new contracts with a total original contract value of approximately HKD 296.0 million during the reporting period[12]. - The company holds 19 projects with a total original contract value of approximately HKD 1.6 billion as of March 31, 2022[13]. Cash Flow and Liquidity - As of March 31, 2022, the group had cash and cash equivalents totaling approximately HKD 11.9 million, up from approximately HKD 6.0 million in 2021, primarily due to cash inflows from operating activities[23]. - Cash and cash equivalents at the end of the year were HKD 11,881 thousand, compared to HKD 5,966 thousand at the end of the previous year, showing improved liquidity[194]. - Operating cash flow for the year was HKD 41,208 thousand, significantly higher than HKD 26,530 thousand in the previous year[194]. Expenses and Costs - Administrative expenses remained stable at approximately HKD 21.8 million compared to the previous year[18]. - Financing costs decreased by approximately HKD 1.4 million or 76.2% to about HKD 444,000 due to the repayment of interest-bearing bank loans[20]. - The total employee cost for the period was approximately HKD 88.6 million, compared to approximately HKD 73.0 million in 2021[38]. Debt and Equity - The group's debt-to-equity ratio as of March 31, 2022, was approximately 53.3%, an increase from approximately 46.1% in 2021, mainly due to an increase in total debt of about HKD 7.2 million during the period[23]. - The total equity attributable to equity holders increased to HKD 80,788 thousand from HKD 77,832 thousand, reflecting a positive trend in shareholder value[184]. Corporate Governance - The board of directors includes both executive and independent non-executive members, ensuring compliance with independence standards[66]. - The company has adopted the corporate governance code as per the listing rules, with a commitment to transparency and accountability[116]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise[119]. - The company has a dedicated audit committee, remuneration committee, and nomination committee to oversee governance matters[111]. - All independent non-executive directors confirmed their independence according to the listing rules, and the company believes they meet the independence guidelines[121]. Risk Management - The company has identified operational risks including adverse weather and geological issues that may impact project costs and timelines[92]. - The company has implemented measures to mitigate risks, including hiring qualified safety officers and conducting regular safety audits[93]. - The company has engaged an external independent consultant to review the effectiveness of its risk management and internal control systems[142]. Sustainability and Community Engagement - Sustainability is a key factor for the company's development, focusing on reducing environmental impacts through energy-efficient equipment and materials[99]. - The company is committed to regularly reviewing policies aimed at reducing resource use, waste, and energy consumption while actively participating in community activities[99]. - The group aims to improve its policies to fulfill its environmental, social, and ethical responsibilities while enhancing corporate governance[152]. Shareholder Communication - The company emphasizes the importance of maintaining good communication with shareholders and has established several communication channels[144]. - The company has established procedures for shareholders to propose new resolutions at general meetings, requiring a written request to the board[149]. Audit and Financial Reporting - The independent auditor, Crowe (HK) CPA Limited, has audited the consolidated financial statements for the relevant period and is eligible for reappointment at the annual general meeting[95]. - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2022, in accordance with Hong Kong Financial Reporting Standards[156]. - The audit identified expected credit loss assessments and contract assets as key audit matters due to the significant management estimates involved[165].
俊裕地基(01757) - 2022 - 年度财报