Financial Performance - The company's revenue increased from RM 99.2 million to RM 231.3 million, representing a growth of approximately 133.2% for the fiscal year ending March 31, 2022[16]. - The group's revenue increased by approximately 132.1 million MYR or 133.2% to about 231.3 million MYR during the reporting period, driven primarily by the new B2B hardware trading business[24]. - Revenue contributions from China and Malaysia were approximately 126.9 million MYR (55% of total revenue) and 104.4 million MYR (45% of total revenue), respectively[24]. - The group's net profit increased by approximately 0.2 million MYR or 1.6% to about 12.5 million MYR, with a net profit margin decreasing from approximately 12.4% to about 5.4%[34]. - The group's gross profit increased by approximately 1.6 million MYR or 2.3% to about 70.4 million MYR, while the gross margin decreased from approximately 69.4% to about 30.4%[26]. - Cash flow from operating activities was approximately 18.4 million MYR, compared to 28.1 million MYR in the previous year[38]. - Total assets increased by approximately 152.1 million MYR to 317.3 million MYR, while total liabilities rose by approximately 148.0 million MYR to about 186.7 million MYR[35]. Business Expansion - The retail network expanded to 84 owned and 6 franchised retail stores across Malaysia, with 5 new owned stores opening during the reporting period[20]. - The company has successfully expanded its business from Malaysia to China, marking a significant milestone in its operations[16]. - Management expects to expand its geographical coverage to the Chinese market and develop unique products for customers[61]. - The company plans to continue expanding its retail network and upgrading its retail stores[61]. - The B2B hardware trading business has been successfully launched, with management believing it will generate significant long-term revenue[61]. Challenges and Opportunities - The company has faced challenges due to the COVID-19 pandemic but is actively seeking opportunities to enhance revenue and profitability[15]. - The company anticipates a delay in the opening of retail stores due to COVID-19 uncertainties, with five stores opened during the reporting period[67]. - Approximately MYR 43.1 million of the net proceeds remains unutilized due to the impact of COVID-19 on the retail industry[67]. - The company is committed to prudently utilizing the net proceeds in alignment with its long-term interests and development[67]. Corporate Governance - The board of directors acknowledges their responsibility for preparing the company's financial statements in accordance with statutory requirements and applicable accounting standards[85]. - The audit committee held four meetings during the reporting period to review the consolidated financial statements and address significant audit and accounting issues[97]. - The board has established three committees: the audit committee, the remuneration committee, and the nomination committee, to enhance corporate governance[95]. - The company reviewed its compliance with legal and regulatory requirements as part of its corporate governance responsibilities[94]. - The board is responsible for ongoing supervision of the group's risk management and internal control systems, reviewing their effectiveness at least annually[125]. ESG Commitment - The company has established a comprehensive ESG management system to enhance overall ESG performance and accountability across departments[195]. - The ESG report covers the period from April 1, 2021, to March 31, 2022, and is the third report since the company went public[191]. - The company emphasizes the importance of stakeholder engagement to understand risks and opportunities, ensuring effective communication with key stakeholders[197]. - The company aims to achieve sustainable development in the eyewear retail industry as part of its corporate social responsibility[195]. - The company is committed to complying with environmental protection laws and regulations, focusing on efficient resource use and waste reduction[190]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion[156]. - New product development includes the introduction of a cutting-edge eyewear line expected to contribute RM 50 million in revenue within the first year of launch[156]. - The company plans to invest RM 20 million in technology upgrades to improve operational efficiency and customer experience[156]. - The management team emphasized the importance of sustainable practices, aiming for a 50% reduction in carbon footprint by 2025[156]. - The company has established a new partnership with a leading technology firm to enhance its digital marketing efforts, expected to increase customer engagement by 40%[156].
马可数字科技(01942) - 2022 - 年度财报