Financial Performance - The group's revenue for the fiscal year ending March 31, 2023, was approximately HKD 61.4 million, a decrease of about 32.8% compared to the previous fiscal year[15]. - Revenue from valuation and advisory services contributed approximately 61.4% to total revenue, decreasing from approximately HKD 64.0 million to about HKD 37.7 million, a decline of 41.1%[25]. - Financing services contributed approximately 37.9% to total revenue, with interest income slightly decreasing by about 7.6% from approximately HKD 25.2 million to about HKD 23.2 million[26]. - Other income and losses decreased by 46.6% to approximately HKD 4.6 million, primarily due to a foreign exchange loss of about HKD 6.7 million compared to a gain of HKD 2.2 million in the previous year[27]. - The loss attributable to owners of the company was approximately HKD 29.4 million, a decrease of about HKD 5.5 million from the previous year's loss of HKD 34.9 million[33]. - The group recorded revenue of approximately HKD 61.4 million for the year ended March 31, 2023, a decrease of about 32.8% compared to the previous year[24]. Corporate Strategy and Development - The group aims to become a leading provider of valuation and consulting services in Hong Kong, planning to expand its consulting service offerings to adapt to changing environments[18]. - The group is exploring various merger and acquisition opportunities to maintain and strengthen its market position in the valuation and consulting industry in Hong Kong[18]. - The group aims to provide comprehensive quality services to maintain growth and optimize its corporate structure through strategic sales of underperforming subsidiaries[24]. - The group is actively exploring various merger and acquisition opportunities to enhance its market position in the Hong Kong valuation and advisory industry[24]. - The group has submitted applications to the Securities and Futures Commission for licenses to engage in virtual asset-related activities, aiming to diversify its service offerings[20]. - The group continues to monitor its license application status and seeks new opportunities to achieve growth and profitability, maximizing value for shareholders[20]. Market Conditions and Challenges - The ongoing impact of the COVID-19 pandemic and expected interest rate hikes have hindered the group's growth in securities brokerage, placement, and investment advisory services[18]. - Market sentiment has been negatively impacted by the pandemic and anticipated interest rate hikes, hindering growth in securities brokerage and asset management services[62]. - The anticipated development of the "Belt and Road" initiative and policies related to the Guangdong-Hong Kong-Macao Greater Bay Area are expected to create new opportunities for Hong Kong as an international financial hub[18]. Governance and Compliance - The company has complied with all relevant laws and regulations in Hong Kong during the fiscal year[35]. - The company has complied with all provisions of the GEM Listing Rules Appendix 15 Corporate Governance Code, except for deviation from Code Provision C.2.1[74]. - The company has implemented a whistleblowing policy to allow stakeholders to report any misconduct confidentially[89]. - The company ensures compliance with disclosure regulations under the GEM listing rules and has implemented measures for fair disclosure of information[113]. - The company has established a remuneration committee to review its remuneration policies based on operational performance and market practices[157]. Financial Position and Assets - As of March 31, 2023, the group's net current assets were approximately HKD 282.8 million, compared to HKD 188.3 million as of March 31, 2022, reflecting a significant increase[39]. - The group's total bank borrowings amounted to approximately HKD 58.3 million as of March 31, 2023, up from HKD 49.2 million as of March 31, 2022[40]. - The group's current ratio improved to approximately 3.2 as of March 31, 2023, compared to 2.6 as of March 31, 2022, indicating better liquidity[39]. - The capital debt ratio increased from approximately 0.25 as of March 31, 2022, to approximately 0.28 as of March 31, 2023, suggesting a rise in leverage[40]. - As of March 31, 2023, the total amount of receivables and interest for the group was HKD 517,948,000, with an expected credit loss provision of HKD 142,134,000[195]. Employee and Management - Employee benefit expenses decreased by approximately 16.1% due to the sale of subsidiaries, while the group issued discretionary bonuses to retain high-caliber personnel[28]. - Employee benefit expenses totaled approximately HKD 36.4 million for the year ended March 31, 2023, down from HKD 43.4 million for the previous year[49]. - The company is committed to promoting gender diversity in senior management and board positions through regular reviews and targeted recruitment efforts[102]. - The company emphasizes the importance of continuous professional development for all directors, who participated in relevant training sessions[88]. Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2023, in accordance with Hong Kong Financial Reporting Standards[191]. - The independent auditor identified the impairment assessment of receivables and interest as a key audit matter due to the complexity involved[194]. - The audit procedures included evaluating the group's policies regarding the impairment of receivables and assessing the parameters used in estimating expected credit loss rates[198]. - The financial statements were prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance[191]. Shareholder Information - The board decided not to recommend any final dividend for the year ending March 31, 2023, consistent with the previous year[60]. - The company reported no final dividend for the year ended March 31, 2023, consistent with the previous year[131]. - The company has established a dividend policy aimed at providing sustainable returns to shareholders while retaining sufficient reserves for future development[115]. - The company’s communication policy ensures timely and effective dissemination of information to shareholders[122].
罗马元宇宙集团(08072) - 2023 - 年度财报