Financial Performance - The company's revenue for the fiscal year ending March 31, 2022, increased to approximately HKD 337.4 million, up from HKD 311.8 million in the previous year, representing a growth of about 8.5%[13] - Net profit rose to approximately HKD 13.7 million, compared to HKD 11.3 million in the prior year, marking an increase of approximately 21.2%[8] - The company's total revenue increased from approximately HKD 311.8 million in the year ended March 31, 2021, to approximately HKD 337.4 million in the year ended March 31, 2022, representing an increase of about HKD 25.6 million or approximately 8.2%[20] - Revenue from construction contracts rose from approximately HKD 268.7 million to approximately HKD 288.9 million, an increase of about HKD 20.2 million or approximately 7.5%[22] - Revenue from the sale of building materials increased from approximately HKD 43.1 million to approximately HKD 48.5 million, a rise of about HKD 5.4 million or approximately 12.6%[23] - The gross profit increased from approximately HKD 48.8 million to approximately HKD 56.1 million, representing an increase of about HKD 7.3 million or approximately 15.0%[26] - The gross profit margin improved from approximately 15.7% to approximately 16.6%[26] - Other income rose from approximately HKD 3.6 million to approximately HKD 4.3 million, an increase of about HKD 0.7 million or approximately 19.0%[28] Contracts and Projects - The company secured contracts for two public service projects with a total contract value exceeding HKD 50 million, expected to commence in January 2023[8] - The company continues to focus on large-scale public projects, generating approximately HKD 143.9 million in revenue from two major projects during the fiscal year[6] - The company has secured a contract worth approximately HKD 109.3 million under the ten-year hospital development plan, supplying and installing over 100,000 square meters of gypsum products[15] - The company is currently bidding for two new projects under the ten-year hospital development plan, with a total contract value of no less than HKD 200 million[15] Future Outlook - The company anticipates a positive long-term growth outlook due to government initiatives to increase land and housing supply in Hong Kong[8] - The company remains optimistic about future business growth despite short-term uncertainties related to COVID-19[8] - The company anticipates continued demand for its antibacterial crystal wall panels due to increasing public health and safety awareness amid the COVID-19 pandemic[16] Expenses and Financial Position - Sales and distribution expenses increased from approximately HKD 8.8 million for the year ended March 31, 2021, to approximately HKD 9.3 million for the year ended March 31, 2022, representing a rise of about 5.2%[30] - Administrative expenses rose from approximately HKD 30.9 million for the year ended March 31, 2021, to approximately HKD 34.5 million for the year ended March 31, 2022, an increase of about 11.7%[31] - Cash and cash equivalents decreased from approximately HKD 41.6 million as of March 31, 2021, to approximately HKD 28.2 million as of March 31, 2022[39] - Bank borrowings increased from approximately HKD 35.9 million as of March 31, 2021, to approximately HKD 48.5 million as of March 31, 2022[40] - Total equity as of March 31, 2022, was approximately HKD 156.3 million, slightly down from approximately HKD 156.5 million as of March 31, 2021[36] - Current assets net value increased from approximately HKD 95.2 million as of March 31, 2021, to approximately HKD 96.7 million as of March 31, 2022[37] - Contract assets amounted to approximately HKD 117.5 million as of March 31, 2022, compared to approximately HKD 74.6 million as of March 31, 2021, indicating a significant increase in credit risk[54] Corporate Governance - The company presented its corporate governance report for the year ending March 31, 2022[78] - The company has adopted a corporate governance code to enhance shareholder interests and accountability, with the chairman and CEO roles currently held by the same individual, Mr. Lu Yongchang[79] - The board of directors is responsible for overall leadership and strategic decision-making, with three committees established for audit, nomination, and remuneration oversight[80] - All directors have participated in continuous professional development, ensuring they are well-informed about applicable laws and regulations[87] - The company has implemented a nomination policy to ensure a balanced board in terms of skills, experience, and diversity since January 1, 2019[92] - The board consists of executive, non-executive, and independent non-executive directors, with a commitment to maintaining independence and diversity among its members[83] - The company has arranged appropriate liability insurance for directors against legal actions, which is reviewed annually[81] - Independent non-executive directors have confirmed their independence according to listing rules, contributing valuable experience and knowledge to the board[85] Employee and Management Information - The total employee costs for the year ended March 31, 2022, amounted to approximately HKD 19.2 million, an increase from HKD 17.9 million in the previous year[59] - The average number of full-time employees decreased to 32 from 34 in the previous year, while part-time employees remained at 2[59] - The management team has extensive experience in the construction industry, with the chairman having over 40 years of experience[65] - 温浩然先生 has over 21 years of experience in auditing and financial management, serving as the CFO and company secretary of Man King Holdings Limited since September 2014[66] - 舒华东先生 has over 25 years of experience in auditing, corporate finance, and financial management, previously serving as CFO for multiple listed companies[69] - 譚偉德先生 has over 15 years of experience in auditing, accounting, and financial management, currently serving as CFO and company secretary of Ding Fung Group Holdings Limited since January 2013[71] - 何承澤先生 has over 40 years of experience in architecture and project management, providing technical advice for the group since April 2017[74] - 盧沛盈女士 has been with the group since September 2016, currently serving as the operations director, overseeing internal control policies[75] - 周永和先生 has over 15 years of experience in auditing and accounting, serving as the CFO and company secretary since April 2019[76] Shareholder Information - A final dividend of HKD 0.5 per share is proposed, pending approval at the upcoming annual general meeting[10] - The company declared an interim dividend of HKD 0.75 per share, totaling HKD 6,000,000 for the year ended March 31, 2022[140] - The company's distributable reserves as of March 31, 2022, were approximately HKD 142.7 million, a decrease from HKD 145.1 million in the previous year[142] - As of March 31, 2022, the top five customers accounted for approximately 69.9% of the total revenue, with the largest customer contributing about 38.7%[56] - The top five suppliers represented about 49.7% of total sales and service costs, an increase from 45.1% in the previous year[150] ESG and Community Engagement - The board confirmed its responsibility for the integrity of the ESG report, emphasizing the commitment to sustainable growth while considering environmental and social responsibilities[193] - The ESG report covers the operations of the group in the sale of construction materials and provision of construction and engineering services for the fiscal year ending March 31, 2022[194] - The company participates in community activities to improve the local environment and engage in charitable activities, including donations[198] - The company made charitable donations of HKD 70,000 during the year, compared to none in the previous year[141] - The company conducts a comprehensive materiality assessment involving stakeholders to identify relevant ESG issues[200]
乙德投资控股(06182) - 2022 - 年度财报