Financial Performance - The unaudited consolidated revenue for the year ended March 31, 2022, was HKD 37,961,000, a significant decrease from HKD 615,941,000 in the previous year, representing a decline of approximately 93.85%[6] - The net loss attributable to the owners of the company for the year was HKD 52,840,000, compared to a loss of HKD 152,500,000 in the previous year, indicating an improvement of about 65.39%[5] - The total comprehensive income for the year, after tax, was HKD 8,163,000, a decrease from HKD 62,155,000 in the previous year[5] - The group reported a net loss of approximately HKD 78,122,000 for the year ended March 31, 2022[19] - The group reported a pre-tax loss of HKD 76,785 thousand for the year ended March 31, 2022, compared to a loss of HKD 184,643 thousand for the previous year[28] - The company recorded a loss of approximately HKD 78.1 million for the year, an improvement from HKD 196.1 million in the previous fiscal year[76] Assets and Liabilities - The company's total assets as of March 31, 2022, amounted to HKD 1,340,719,000, compared to HKD 1,292,132,000 in the previous year, reflecting an increase of approximately 3.75%[8] - The group's total assets increased to HKD 1,389,869 thousand in 2022 from HKD 1,340,918 thousand in 2021, representing a growth of approximately 3.6%[31] - The company's current liabilities increased to HKD 475,249,000 from HKD 970,215,000 in the previous year, indicating a reduction of about 51.00%[8] - The group's total liabilities rose to HKD 1,091,764 thousand in 2022, compared to HKD 970,430 thousand in 2021, indicating an increase of about 12.5%[31] - The group's debt-to-asset ratio increased to approximately 78.6% as of March 31, 2022, up from 72.4% a year earlier, primarily due to increased liabilities in accounts payable and bank borrowings[85] Cash Flow and Financial Management - The company's cash and cash equivalents decreased to HKD 16,854,000 from HKD 36,196,000 in the previous year, a decline of approximately 53.40%[8] - As of March 31, 2022, the group's current liabilities were approximately HKD 475,249,000, while cash and bank balances were only about HKD 16,854,000[19] - The group is actively negotiating with financial institutions to ensure the renewal of borrowings to meet its maturing debts[19] - The group is actively seeking to improve its capital management to maintain operational liquidity and support business expansion in the environmental sector[83] Revenue Segments - The environmental services segment became the main revenue driver, contributing approximately HKD 34.7 million in revenue and HKD 7.8 million in profit, representing year-on-year growth of approximately 733.1% and 1,202.0%, respectively[62] - The publishing, procurement, and distribution segment recorded sales of approximately HKD 2.7 million, a drastic decline of 99.6% from HKD 608.5 million in the previous fiscal year, resulting in a segment loss of approximately HKD 50.3 million[58] - The group generated external customer revenue of HKD 37,961 thousand in China for the year 2022, a significant decrease from HKD 615,941 thousand in 2021[35] Cost Management - The company reported a significant increase in administrative expenses, which totaled HKD 45,921,000 compared to HKD 70,665,000 in the previous year, indicating a reduction of approximately 34.99%[6] - Employee costs, including director remuneration, decreased to HKD 20,731 thousand in 2022 from HKD 23,190 thousand in 2021, a reduction of approximately 10.6%[41] - Financial expenses decreased to HKD 52,643 thousand in 2022 from HKD 60,155 thousand in 2021, reflecting a decline of about 12.5%[42] - Administrative expenses decreased by approximately 35.0% to HKD 45.9 million from HKD 70.7 million in the previous fiscal year[74] Strategic Initiatives - The group has taken measures to strengthen cost control to achieve profitability and positive cash flow[19] - The group is considering the potential sale of non-core businesses and/or financial assets if necessary[19] - The group plans to invest more resources in the health product division to explore market potential and expand its operational scale[79] - The company has initiated the sale of functional natto snacks and other health products to expand its product offerings[63] Shareholder and Governance - The company did not declare any final dividends for the year ended March 31, 2022, consistent with the previous year[48] - The board does not recommend the payment of a final dividend for the year[109] - The audit committee has reviewed the group's financial reporting process and internal control procedures, ensuring compliance with applicable accounting standards and GEM listing rules[110] COVID-19 Impact - Due to COVID-19 restrictions in Shanghai, the audit procedures faced significant disruptions, impacting the timely completion of necessary audit work[112] - The company has not yet completed the audit procedures for the annual performance due to the impact of the COVID-19 pandemic, with the expected completion date set for August 15, 2022[116] - The overall business performance showed resilience despite challenges posed by the COVID-19 pandemic, with management focusing on supporting the environmental business segment and exploring new sales opportunities for health products[57]
大地国际集团(08130) - 2022 Q4 - 年度财报