Financial Performance - Total revenue for FY2023 was HKD 47,791,000, a decrease of 14.3% compared to HKD 55,709,000 in FY2022[16] - Pre-tax profit increased to HKD 15,524,000, up 27.5% from HKD 12,148,000 in the previous year[16] - The attributable profit to the company's owners was HKD 9,878,000, representing a 41.5% increase from HKD 6,980,000 in FY2022[16] - The reported net profit for fiscal year 2023 was HKD 10,800,000, an increase from HKD 8,000,000 in fiscal year 2022, driven by a net increase in the fair value of investment properties in Japan[19] - The adjusted annual profit decreased by 29% to HKD 7,000,000, impacted by reduced income from corporate finance and consulting services[37] - The total revenue for fiscal year 2023 was HKD 47,800,000, a decrease of 14.2% compared to HKD 55,700,000 in fiscal year 2022, primarily due to a decline in corporate finance and advisory services revenue[28] Assets and Liabilities - Total assets decreased to HKD 630,020,000, down 5.0% from HKD 663,240,000 in FY2022[17] - Total liabilities reduced to HKD 207,715,000, a decline of 6.7% from HKD 222,630,000 in the previous year[17] - Net asset value was HKD 422,305,000, down 4.1% from HKD 440,610,000 in FY2022[17] - The total debt decreased from HKD 176,645,000 to HKD 161,470,000, with a capital debt ratio improving from 40.1% to 38.2%[42] - As of March 31, 2023, the total debt and total equity resulted in a debt-to-equity ratio of approximately 38.2%, down from 40.1% as of March 31, 2022[45] Revenue Sources - Revenue from corporate finance and other advisory services decreased by 14.2% to HKD 16,330,000 in fiscal year 2023, primarily due to a continued downturn in IPO sponsorship activities[20] - Rental income from the property investment portfolio in Japan contributed HKD 31,500,000 in fiscal year 2023, down from HKD 36,700,000 in fiscal year 2022, attributed to the depreciation of the Japanese yen[22] - Financial advisory service revenue decreased by 42% from HKD 14,400,000 to HKD 8,300,000 due to a lack of rule-based advisory activities[29] - Compliance advisory revenue doubled to HKD 2,400,000, attributed to new listings and continued engagements with existing clients[30] - Other corporate advisory service revenue increased from HKD 1,000,000 to HKD 3,600,000, reflecting efforts in strategic corporate finance consulting[30] Property Investments - The company is exploring value release through the reconstruction and optimization of its real estate investment portfolio in Japan[11] - The average occupancy rate for the property portfolio in Japan improved to 93.2% in fiscal year 2023 from 91.6% in fiscal year 2022, with rental income in yen increasing by 1.7%[25] - The company undertook approximately HKD 5,400,000 in improvement works to enhance the value of several properties in Japan during fiscal year 2023[26] - The company’s investment properties in Japan included 26 properties, with a total net area of 1,000,000 square feet, contributing to the overall rental income[23] - The company completed the acquisition of an investment property for JPY 190 million on April 4, 2023, aimed at generating rental income and/or capital appreciation[55] Corporate Governance - The Audit Committee consists of three independent non-executive directors, with all members attending 5 out of 5 meetings in the fiscal year 2023[77] - The Remuneration Committee held one meeting in fiscal year 2023 to review the remuneration policies for directors and senior management, with all members present[79] - The Nomination Committee conducted two meetings in fiscal year 2023, focusing on board structure and the independence of non-executive directors, with all members attending both meetings[80] - The company has adopted a board diversity policy, recognizing the benefits of a diverse skill set, experience, and perspectives among board members[83] - The board is required to hold at least four meetings annually, with provisions for conflicts of interest among directors[86] Shareholder Information - The company reported a distributable reserve of HKD 92,500,000 as of March 31, 2023, down from HKD 93,300,000 in 2022[153] - The company did not recommend a final dividend for the fiscal year 2023, consistent with the previous fiscal year[141] - The company repurchased and canceled 120,000 ordinary shares during the fiscal year 2023, which were originally bought back in the fiscal year 2022[154] - As of March 31, 2023, major shareholders hold a total of 557,200,000 shares, representing 68.58% of the company's issued share capital[176] - The company has a non-competition agreement in place with its major shareholders, ensuring no direct or indirect competition with the group's business[192] Risk Management - The board is responsible for maintaining a sound and effective risk management and internal control system to protect shareholders' interests[107] - The board conducted an annual review of the effectiveness of the risk management and internal control system for the fiscal year 2023, covering financial, operational, compliance, and risk management aspects[107] - An independent internal control consultant has been appointed to review the effectiveness of the internal control system and perform internal audit functions[107] - The company has established a series of risk management policies and measures to identify key risks related to its business, industry, and market[107] - The company is committed to maintaining high standards of corporate governance and transparency in its operations[123]
浩德控股(08149) - 2023 - 年度财报