Financial Performance - For the financial year ended March 31, 2023, the Group recorded a revenue of HK$2,266,642,000, a decrease of 7.3% compared to HK$2,445,150,000 in the previous year[20]. - The profit before tax for the year was HK$4,551,000, down 95.8% from HK$108,662,000 in the prior year[20]. - The consolidated net profit attributable to shareholders was approximately HK$1,088,000, representing a significant decrease of 98.6% from HK$79,793,000 last year[23]. - Total assets as of March 31, 2023, amounted to HK$2,079,936,000, a decline of 34.1% from HK$3,161,987,000 in 2022[22]. - Total liabilities decreased to HK$644,600,000 from HK$1,714,545,000, reflecting a reduction of 62.4%[22]. - Equity attributable to shareholders was HK$1,435,336,000, slightly down from HK$1,447,442,000 in the previous year[22]. - The Group recorded a consolidated net profit of approximately HKD 1,088,000 for the fiscal year ending March 31, 2023, representing a decrease of 98.6% compared to the previous year[27]. - The gross profit ratio decreased from 16.2% last year to 14.7% this year[50]. - Total operating costs increased by approximately HK$45,834,000 or 15.4%, from approximately HK$298,443,000 to HK$344,277,000[51]. - The consolidated net asset value per ordinary share decreased to approximately HK$3.16, down HK$0.24 from approximately HK$3.40 as of March 31, 2022[53]. Business Challenges and Strategies - The Group faced tremendous challenges during the year, impacting overall financial performance[23]. - The Group experienced a decline in operating lease orders for SMT machines due to weak demand in the mobile phone market and severe price competition[26]. - The leasing division faced a challenging operating environment due to the prolonged impact of the COVID-19 pandemic and decreased consumer purchasing power[66]. - The Group will focus on operating cost control in light of the worsening business environment[52]. - The Group aims to enhance operational efficiency and explore potential mergers and acquisitions as part of its growth strategy[23]. - The Group plans to acquire a small online payment business operating under the "Jarvix" brand in Hong Kong to diversify its business[34]. - The Group aims to leverage its listing status to raise capital for future development and investment needs[33]. - The Group will continue to enhance operational efficiency across various business divisions to improve profitability and increase shareholder value[88]. Market Trends and Opportunities - Increased orders from leading electric vehicle manufacturers in China partially compensated for the loss of orders from mobile phone manufacturing customers[25]. - The Company expects large-scale replacement of petroleum-fueled vehicles with electric vehicles to achieve net-zero emissions by 2030, creating new opportunities in the electric vehicle manufacturing industry[86]. - Smartphone shipments in Q1 2023 fell by 13% to 269.8 million units compared to 311.2 million units in Q1 2022, indicating a weak demand in the market[92]. - The outlook for the smartphone industry remains highly uncertain, with expectations of a 1.1% decline in the worldwide smartphone market in 2023[92]. - The emergence of the metaverse is expected to drive investments in infrastructure for virtual reality applications, contributing to growth in the semiconductor and SMT industries[87]. Governance and Management - The company has a strong governance structure with independent non-executive directors overseeing audit, remuneration, and nomination committees[124][126]. - The management team includes members with advanced degrees in accounting, finance, and business administration from reputable institutions[121][124][126]. - The company is focused on maintaining a robust financial strategy, leveraging the expertise of its directors in financial planning and corporate governance[124][126]. - The Board is committed to maintaining high standards of corporate governance and will continue to review and update its practices[137]. - The Company aims to develop a corporate culture aligned with its purpose, vision, strategy, and values to achieve long-term sustainable growth[137]. - The Company has mechanisms in place to ensure independent views and input are available to the Board, reviewed annually[163]. - The Board consists of experienced and high-caliber individuals, ensuring effective governance and oversight[179]. Committees and Board Activities - The Board has established three committees: Nomination, Remuneration, and Audit, in accordance with GEM Listing Rules[184]. - The Remuneration Committee held six meetings during the year with an attendance rate of 93%[198]. - The Nomination Committee conducted two meetings during the year with a perfect attendance rate of 100%[191]. - The Nomination Committee is responsible for evaluating board size, structure, and composition, and managing board succession[186]. - The terms of reference for both the Nomination and Remuneration Committees are aligned with the provisions set out in the Code[193]. - The attendance of each Nomination Committee member during the year was 2 out of 2 meetings[192].
北亚策略(08080) - 2023 - 年度财报