Financial Performance - For the fiscal year 2022/2023, Silver Tide Holdings Limited reported revenue of approximately HKD 372.1 million, an increase of about 9.4% compared to HKD 340.1 million in the fiscal year 2021/2022[16]. - The profit attributable to equity holders of the parent for the fiscal year 2022/2023 was approximately HKD 5.0 million, a significant recovery from a loss of approximately HKD 33.8 million in the previous fiscal year[17]. - Gross profit for the fiscal year 2022/2023 was approximately HKD 41.5 million, compared to a gross loss of approximately HKD 20.8 million in the fiscal year 2021/2022, primarily due to improved workflow efficiency and project completion certifications[19]. - Other income and gains increased from approximately HKD 3.1 million in the fiscal year 2021/2022 to approximately HKD 13.0 million in the fiscal year 2022/2023, representing a growth of approximately 325.2%[25]. - The revenue for the fiscal year 2022/23 was approximately HKD 372.1 million, an increase of about HKD 32.0 million or 9.4% compared to HKD 340.1 million for the fiscal year 2021/22[40]. - The gross profit for the fiscal year 2022/23 was approximately HKD 41.5 million, compared to a gross loss of approximately HKD 20.8 million for the fiscal year 2021/22[35]. - The basic earnings per share for the fiscal year 2022/23 was approximately HKD 0.5 cents, while for the fiscal year 2021/22, it was a basic loss of approximately HKD 3.4 cents[36]. - The income tax expense for the fiscal year 2022/23 was approximately HKD 6.6 million, compared to a tax credit of approximately HKD 5.4 million for the fiscal year 2021/22[44]. - The gross profit margin improved to 11.1% in the fiscal year 2022/23, compared to a gross loss margin of (6.1%) in the previous fiscal year[67]. - Other losses for the fiscal year 2022/23 amounted to approximately HKD 15.0 million, an increase from HKD 3.2 million in the fiscal year 2021/22, primarily due to unrealized and realized losses on financial assets[70]. Project and Operational Updates - As of March 31, 2023, the company had 8 projects under construction with a total original contract value of approximately HKD 666.4 million[22]. - The company is positioned to capitalize on new opportunities arising from government initiatives to increase land supply and develop resources[21]. - The management is optimistic about future growth prospects and plans to undertake new projects in the coming years[21]. - The company has implemented measures to accelerate project progress, including hiring additional personnel and subcontracting parts of construction projects[103]. - The group is addressing labor shortages and aging issues in the construction industry by maintaining good relationships with labor and subcontractors, ensuring sufficient workforce availability[105]. - The group has a list of approved subcontractors that is regularly reviewed and updated to ensure adequate labor supply[105]. Financial Position - As of March 31, 2023, cash and cash equivalents amounted to approximately HKD 52.2 million, up from approximately HKD 31.0 million as of March 31, 2022[47]. - The net current assets as of March 31, 2023, were approximately HKD 202.7 million, compared to approximately HKD 188.4 million as of March 31, 2022[47]. - The company has no significant contingent liabilities as of March 31, 2023[48]. - The group has approximately HKD 206.1 million available for distribution as of March 31, 2023[163]. Governance and Compliance - The company has adopted the principles and code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules[182]. - The board of directors has undergone changes, with new appointments and resignations noted during the fiscal year[164]. - The group has complied with all relevant laws and regulations that significantly impact its business operations during the fiscal year 2022/23[133]. - There were no significant violations or non-compliance with applicable laws and regulations during the fiscal year 2022/23[133]. - The group has not engaged in any related party transactions that require disclosure under the listing rules during the fiscal year 2022/23[166]. Market and Strategic Outlook - The board believes that the overall outlook for the formwork engineering industry and the business environment remains positive, with emerging opportunities for new projects[21]. - The company is actively seeking additional trading and brokerage service opportunities in Hong Kong to further diversify its revenue base[66]. - The group plans to increase participation in the private sector projects in addition to public sector projects to mitigate risks associated with delays in government funding approvals[159]. - The group anticipates potential adverse effects on the construction industry due to changes in government policy, financial crises, or unforeseen natural disasters[159]. Shareholder Information - The company does not propose any final dividend for the fiscal year 2022/2023[18]. - The board has proposed not to declare any final dividend for the fiscal year 2022/23, consistent with the previous fiscal year[47]. - The company has a share option plan that allows for the issuance of options equivalent to a maximum of 10% of the issued share capital at the time of listing, which amounts to 100,000,000 shares[189]. - As of March 31, 2023, Central Force and its concert parties held interests in 750,000,000 shares, representing approximately 75.00% of the company's total issued share capital[193]. - In the fiscal year 2022/23, the top five customers represented about 96.9% of total revenue, with the largest single customer accounting for 63.0%[198].
银涛控股(01943) - 2023 - 年度财报