Revenue and Financial Performance - The Group recorded an increase in revenue from vessel chartering services, driven by major marine construction projects and short-term marine services projects[15]. - The Group's total revenue increased by approximately 60.9%, from approximately HK$226,194,000 for the year ended 31 March 2021 to approximately HK$364,005,000 for the year ended 31 March 2022[28]. - Revenue from the Group's vessel chartering and related services increased by approximately 68.4%, from approximately HK$200,850,000 to approximately HK$338,265,000 during the same period[28]. - The Group's gross profit increased by approximately 54.9%, from approximately HK$60,242,000 to approximately HK$93,310,000, with a slight decrease in gross profit margin from approximately 26.6% to approximately 25.6%[35]. - The Group's profit attributable to owners increased by approximately 63.1%, from approximately HK$25,020,000 for the year ended 31 March 2021 to approximately HK$40,803,000 for the year ended 31 March 2022[53]. - Basic earnings per share attributable to owners increased from approximately HK2.50 cents for the year ended 31 March 2021 to approximately HK4.08 cents for the year ended 31 March 2022[53]. - The proposed final dividend is HK2.0 cents per ordinary share, totaling HK$20,000,000, an increase from HK$13,000,000 in the previous year[53]. Operational Overview - The Group's fleet consists of 45 self-owned vessels and additional vessels chartered from third-party suppliers[21]. - The Group provided vessel chartering services primarily to marine construction contractors for significant projects, including the Three-Runway System project and Integrated Waste Management Facilities Phase 1 project[23]. - The Group has over 20 years of operating history in maritime services, focusing on vessel chartering and ship management[21]. - The Group's services include time charter, voyage charter, and related services such as crew provision and maritime consultation[21]. - The Group aims to develop new customer sources for vessel chartering services to meet increasing demand in the future[15]. - The management expects steady demand for vessel chartering and related services due to ongoing marine construction projects initiated by the Hong Kong government[26]. Cost and Expenses - The cost of revenue increased by approximately 63.1%, from approximately HK$165,952,000 to approximately HK$270,695,000, mainly due to increased vessel chartering costs and subcontracting fees[34]. - Other income decreased by approximately 92.1%, from approximately HK$10,743,000 to approximately HK$851,000, due to the absence of government grants[39]. - Administrative expenses increased by approximately 10.5%, from approximately HK$36,793,000 to approximately HK$40,666,000, attributed to higher business development expenses and professional fees[44]. - The Group's income tax expenses were approximately HK$10,242,000, with an effective tax rate of approximately 18.2%[47]. Corporate Governance - The Company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its corporate governance practices[77]. - The Company emphasizes transparency and accountability in its corporate governance framework[77]. - The Board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a strong independence element[82]. - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the Company's affairs[101]. - The Company has adopted a "Board Diversity Policy" to enhance the quality of its performance through a diverse Board[109]. - The Company believes that having the chairman and chief executive officer roles vested in the same person is beneficial for management[87]. Risk Management and Internal Control - The Board concluded that the Group's risk management and internal control systems are effective and adequate, with ongoing evaluations conducted by external professionals[122]. - Senior management is tasked with designing, implementing, and maintaining effective risk management and internal control systems[125]. - The Company has developed a risk management process to identify, evaluate, and manage significant risks, with senior management responsible for the annual risk reporting process[127]. - The Company has adopted an Inside Information Disclosure Policy to ensure full, accurate, and timely information dissemination to shareholders and the public[129]. Environmental, Social, and Governance (ESG) Performance - The ESG report covers the Group's performance in Environmental and Social aspects from April 1, 2021, to March 31, 2022[149]. - Key performance indicators (KPIs) have been established to measure and compare the Group's ESG performance[151]. - The materiality assessment process involved key stakeholders to identify and prioritize ESG material issues crucial for sustainable development[153]. - The Group conducts annual inspections of its vessel fleet to ensure safety and compliance with applicable laws and regulations[165]. - The Group integrates sustainability considerations into its decision-making processes for ongoing business operations[163]. - The Group aims to enhance its ESG performance and management of ESG-related risks for future business development[160]. Stakeholder Engagement - Stakeholder engagement includes regular meetings, questionnaires, and written communication with investors, shareholders, employees, customers, and suppliers[151]. - The Group maintains close communication with stakeholders to gather feedback on its ESG approach and performance[160]. - The Company aims to enhance investor relations through effective communication and ongoing dialogue with shareholders[146].
润利海事(02682) - 2022 - 年度财报