Financial Performance - The Group's revenue increased by approximately 17.9% to approximately HK$357.2 million for the year ended 31 March 2022[18]. - Revenue from property management services increased by HK$39.5 million, from HK$288.7 million last year to HK$328.2 million this year, driven by a 13.8% increase[19]. - Revenue from the lifestyle entertainment segment increased by HK$14.9 million, or 104.9%, from HK$14.2 million last year to HK$29.1 million this year[20]. - The Group achieved nearly doubled net assets and improved net result from a net loss of HK$8.6 million to almost breakeven this year[17]. - The Group achieved a revenue increase of approximately 17.9% to HK$357.2 million for the year ended March 31, 2022, compared to HK$302.9 million in the previous year[45]. - The Group's profit before taxation increased from HK$7.1 million last year to HK$18.5 million this year, representing a significant growth[49][53]. - The total revenue of the Group rose approximately 17.9% from HK$302.9 million to HK$357.2 million, driven by the contribution from Ningbo AUX, which increased from HK$288.7 million to HK$328.2 million[50]. Operational Challenges - The Group's operations faced significant challenges due to COVID-19 restrictions, impacting performance potential in Hong Kong[9]. - The Group's lifestyle entertainment segment is expected to improve as COVID-19 restrictions are gradually lifted[27]. - The Group maintains a conservative outlook for its lifestyle entertainment segment due to the expected persistence of the COVID-19 outbreak over the next 12 months[83]. - The Group is optimistic that demand for its goods and services will surge once COVID-19 restrictions are relaxed, leading to significant benefits from the industry's rebound[89]. Cost and Expense Management - The Group's property cleaning expenses increased by 20.0%, or approximately HK$13.0 million, from HK$65.0 million to HK$78.0 million due to enhanced sanitary measures[46]. - Staff costs rose by approximately 22.0% to approximately HK$158.5 million for the year ended March 31, 2022[47]. - The Group's advertising expenses increased by HK$3.3 million from HK$1.3 million to HK$4.6 million to adapt to changes in customer behavior[39]. - Utilities and repair and maintenance expenses rose by approximately HK$3.4 million or 13.1% for the year ended March 31, 2022[56][61]. - The Group emphasizes cost-conscious resource allocation in the lifestyle entertainment segment to prepare for potential further business restrictions[89]. Strategic Initiatives - The Group plans to explore opportunities in community value-added services to diversify income sources amid a potential slowdown in China's real estate industry[25]. - The Group plans to enhance operational efficiency in the lifestyle entertainment segment by streamlining procedures to adapt to the changing business environment[83]. - The Group continues to expand its portfolio to include industrial park projects, enhancing its brand image as a reputable hospital property management company[84]. - The Group is actively identifying favorable investment opportunities while regularly reviewing its business performance to enhance its balanced earning portfolio[88]. - The Group plans to explore diverse business and investment opportunities in areas such as trading and property management to diversify income streams[74]. Corporate Governance - The Board comprises four executive directors and three independent non-executive directors, with independent non-executive directors representing more than one-third of the Board[117]. - The Company has complied with all applicable code provisions of the Corporate Governance Code for the year ended March 31, 2022[112]. - The Company adopted the Model Code for Securities Transactions by Directors, with all directors confirming compliance throughout the year[113]. - The Company is committed to achieving high standards of corporate governance to improve results and corporate image[111]. - The Board oversees financial performance and has delegated daily management powers to the management team[114]. - The Company recognizes the importance of corporate transparency and accountability[111]. - The Board has been active in providing leadership and strategic decisions for the Group's activities[114]. Risk Management - The Audit Committee conducted an annual review of the risk management and internal control systems, ensuring adequacy in resources and staff qualifications[191]. - The Group appointed Mazars Risk Advisory Services Limited to assist in identifying and assessing risks through workshops and interviews[196]. - An independent review of internal control and risk management systems was conducted, with findings reported to the Audit Committee and the Board[197]. - The enterprise risk management framework was established in 2016, with the Board responsible for maintaining effective internal controls[199]. - Risks are identified, assessed, prioritized, and treated through a structured risk management framework following the COSO model[200]. - The Audit Committee oversees risk management and internal audit functions, providing regular reports to the Board[200]. Human Resources - As of March 31, 2022, the Group employed approximately 1,089 employees, an increase from 1,077 employees as of March 31, 2021[82]. - The service contracts for key executives have an initial term of three years, automatically renewing for one-year terms thereafter[130]. - The Company encourages continuous professional development for Directors, providing training and seminars[122]. Financial Position - As of March 31, 2022, the Group's total current assets were approximately HK$431.3 million, up from approximately HK$324.5 million the previous year[58][62]. - The Group maintained cash at bank and in hand of approximately HK$330.2 million as of March 31, 2022, compared to HK$227.2 million the previous year[59][62]. - As of March 31, 2022, total interest-bearing borrowings were approximately HK$102.1 million, down from HK$108.3 million as of March 31, 2021, resulting in a gearing ratio of 0.4 compared to 0.8 the previous year[64]. - The Group's equity increased to approximately HK$243.9 million as of March 31, 2022, up from approximately HK$135.7 million as of March 31, 2021[67]. - Loans from the controlling shareholder rose to approximately HK$110.9 million as of March 31, 2022, compared to HK$85.3 million the previous year[67].
奥克斯国际(02080) - 2022 - 年度财报