Financial Performance - For the fiscal year 2021/2022, the revenue was approximately HKD 340.1 million, a decrease of about 22.2% from HKD 437.2 million in the previous fiscal year 2020/2021[14]. - The gross loss for the fiscal year 2021/2022 was approximately HKD 20.8 million, compared to a gross profit of approximately HKD 17.6 million in the fiscal year 2020/2021, representing a significant decline[15]. - The loss attributable to equity holders of the parent company for the fiscal year 2021/2022 was approximately HKD 33.8 million, contrasting with a profit of approximately HKD 14.1 million in the previous fiscal year[15]. - The basic loss per share for the fiscal year 2021/2022 was approximately HKD 0.034, compared to a basic earnings per share of approximately HKD 0.014 in the fiscal year 2020/2021[15]. - Other income and gains decreased from approximately HKD 15.8 million in the fiscal year 2020/2021 to about HKD 3.1 million in the fiscal year 2021/2022, a decline of approximately 80.7%[26]. - Cash and cash equivalents as of March 31, 2022, were approximately HKD 31.0 million, down from HKD 77.3 million as of March 31, 2021[34]. - The company reported a net loss attributable to equity holders of approximately HKD 33.8 million for the fiscal year 2021/2022, compared to a profit of HKD 14.1 million in the previous fiscal year[32]. - The company does not recommend any final dividend for the fiscal year 2021/2022[16]. Business Strategy and Development - The company acquired 100% of Huanghe Securities for approximately HKD 7.4 million in cash, expanding its business into trading and brokerage services[8]. - The company anticipates that diversification into trading and brokerage services will enhance future development and strengthen its revenue base[10]. - The company plans to diversify its business by exploring other opportunities in trading and brokerage services to strengthen its revenue base[20]. - The company will implement strict cost control measures and improve project management efficiency to mitigate adverse impacts from ongoing challenges in the construction industry[10]. Industry Context - The construction industry in Hong Kong continues to face uncertainties due to the COVID-19 pandemic, affecting cash flow and operational efficiency[10]. - The construction industry in Hong Kong benefits from strong housing demand and government infrastructure projects, although it faces risks from policy changes and unforeseen natural disasters[98]. Human Resources - As of March 31, 2022, the company employed 42 staff in Hong Kong, a decrease from 45 staff as of March 31, 2021[47]. - The company plans to maintain competitive compensation to attract and retain talented employees, with regular performance evaluations[47]. - The company has established a list of approved subcontractors and regularly reviews it to ensure adequate labor supply[98]. Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO[49]. - The independent non-executive directors confirmed their independence according to the listing rules[111]. - The company has adopted the principles and code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules[151]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balance of skills and experience in managing the company's business[154]. - The company has established three committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, to oversee specific areas of the company's affairs[164]. Risk Management - The company acknowledges the operational risks associated with project delays and cost overruns due to adverse weather and socio-economic conditions[95]. - The board believes that the risk management and internal control systems are effective and adequate, following an independent review conducted in the fiscal year 2021/22[199]. Financial Structure - The company maintained a capital debt ratio of zero as of March 31, 2022, indicating no bank or other borrowings[40]. - The group had no bank borrowings during the fiscal year 2021/2022[105]. - As of March 31, 2022, major shareholder Silver Tide Enterprises Limited holds 750,000,000 shares, representing 75.0% of the company's equity[134]. - The top five customers accounted for approximately 99.8% of total revenue, with the largest single customer contributing about 47.9% in the fiscal year 2021/2022[137]. - The top five suppliers represented approximately 60.4% of total purchases, with the largest single supplier accounting for about 21.4% in the fiscal year 2021/2022[137]. Environmental Commitment - The company is committed to minimizing its environmental impact and has established an environmental management policy to comply with applicable laws and regulations[99]. - Sustainability initiatives are being prioritized, with a commitment to reduce carbon emissions by K% over the next five years[66].
银涛控股(01943) - 2022 - 年度财报