Financial Performance - The Group recorded a total turnover of approximately HK$323,634,000 for the year ended 31 March 2022, representing a decrease of approximately 36% compared to HK$505,709,000 from the previous year[17]. - Loss attributable to owners of the Company for the year was approximately HK$41,082,000, an increase of approximately 85.9% from HK$22,099,000 in 2021[17]. - The total revenue for the year ended March 31, 2022, was approximately HKD 323,634,000, a decrease of about 36% from approximately HKD 505,709,000 in the previous year[19]. - The loss attributable to the owners of the company for the year was approximately HKD 41,082,000, an increase of about 85.9% compared to HKD 22,099,000 in the previous year[19]. - Administrative and other operating expenses increased to approximately HK$53,417,000, up approximately 13% from HK$47,252,000 in the previous year, mainly due to increased research and development expenses[100]. Dividend Policy - The Board did not recommend the payment of any dividend for the year, consistent with the previous year[17]. - The company does not recommend the payment of any dividends for the year, consistent with the previous year[19]. - The Company has adopted a dividend policy, with the Board having the discretion to declare dividends based on various financial factors[195]. - The Board will consider the Group's financial performance, working capital needs, and future expansion plans when proposing dividend payouts[196]. Strategic Focus and Opportunities - The Group is actively seeking investment opportunities in sectors less impacted by the current economic context, focusing on high-demand industries such as consumer markets and material supply chains[16]. - The Group aims to leverage its established supply chain network to expand into promising market segments such as recyclable materials and renewable energy[18]. - The Group's strategic focus includes exploring new sectors that build on its technological expertise accumulated over the years[16]. - The Group is actively seeking investment opportunities in high-demand sectors such as renewable energy and recyclable materials[88]. - The Group is focusing on diversifying applications of its proprietary Big Data and AI technological platforms to find new growth opportunities amid market challenges[62]. Economic and Market Conditions - The ongoing COVID-19 pandemic and geopolitical tensions have significantly disrupted supply chains and increased costs[15]. - The economic slowdown due to the pandemic and other global crises has created challenges for the Group's performance[15]. - The ongoing global economic challenges, including the impact of COVID-19 and the Ukraine war, have prompted the company to seek investment opportunities in less affected sectors[19]. - The ongoing geopolitical and economic uncertainties are dampening business confidence and investment, further weakening short-term economic prospects[82]. - Global economic growth is projected to slow from an estimated 6.1% in 2021 to 3.6% in 2022 and 2023, with further decline to about 3.3% over the medium term[90]. Technology and Innovation - The management team will focus on diversifying applications of technological blocks in Big Data and Artificial Intelligence to expand into digitizing market segments[18]. - The management team will focus on diversifying applications based on the established technology foundation in big data and artificial intelligence, which is key for expansion into digital market segments[20]. - The Group plans to broaden the application of its AI technology platform to create new growth opportunities amid ongoing digital transformation[83]. - The ERP data operation analysis system and intelligent business management system were developed and operated by the head of the business travel service department, showcasing the company's focus on technology[40]. Human Resources and Corporate Governance - The Company provides employee benefits, including medical insurance and provident fund, in addition to salary adjustments based on performance[121]. - As of 31 March 2022, the Group had approximately 85 employees, a decrease from 135 employees in the previous year[119]. - The Company has adopted the required standard of dealings for Directors' transactions in securities, confirming compliance throughout the year ended March 31, 2022[125]. - The Company has committed to maintaining high standards of corporate governance, complying with the Corporate Governance Code throughout the year[124]. - The Board comprises three executive Directors, one non-executive Director, and three independent non-executive Directors, ensuring diverse professional experience[133]. Internal Control and Risk Management - The Group's internal control system has been reviewed to provide reasonable assurance against material misstatements and to manage risks[182]. - The Group has implemented internal control policies aimed at safeguarding assets and ensuring the accuracy of financial records[187]. - The Audit Committee reviewed the internal control and risk management systems to ensure effective management[148]. - No significant risk and control deficiencies were identified in the internal control review conducted by an independent professional firm[191]. Revenue Breakdown - Revenue generated from intelligent advertising and railroad media services for the year ended March 31, 2022, was approximately HK$299,784,000[67]. - Revenue from the sales of agricultural, forestry, and consumer products for the year ended March 31, 2022, was approximately HK$22,507,000[71]. - The supply-chain business generated revenue of approximately HK$4,000 for the year ended March 31, 2022[75]. - Revenue from short-term leasing of the commercial portion of the property was approximately HK$1,339,000 for the year ended March 31, 2022[81].
世大控股(08003) - 2022 - 年度财报