Financial Performance - The company's revenue for the year ended December 31, 2021, was HKD 110,860,000, a decrease of 22.0% compared to HKD 142,047,000 in 2020[5] - Gross profit for the same period was HKD 7,849,000, down 36.5% from HKD 12,332,000 in the previous year[5] - The operating loss for the year was HKD 8,140,000, slightly higher than the loss of HKD 7,968,000 in 2020[5] - The total comprehensive loss for the year was HKD 6,457,000, compared to a loss of HKD 6,764,000 in 2020[7] - The loss attributable to owners of the company was HKD 11,908,000, compared to HKD 11,202,000 in the previous year[5] - Basic and diluted loss per share for the year was HKD 0.76, compared to HKD 0.71 in 2020[5] - The group reported a loss attributable to shareholders of approximately HKD 11,900,000 for the year ended December 31, 2021[20] - Total revenue for the year ended December 31, 2021, was HKD 110,860, a decrease of 22% from HKD 142,047 in 2020[38] - The company reported a pre-tax loss of HKD 11,140 for the year ended December 31, 2021, compared to a loss of HKD 11,202 in 2020[40] - Basic loss per share for 2021 was HKD 0.76, compared to HKD 0.71 in 2020, reflecting a worsening in performance[42] - The loss attributable to owners for the year was approximately HKD 11.9 million, an increase of 6.3% from a loss of HKD 11.2 million in the previous year[46] Assets and Liabilities - The company's total assets decreased to HKD 112,649,000 from HKD 187,827,000 in the previous year, representing a decline of 40.0%[9] - Current assets fell to HKD 91,015,000, down 45.0% from HKD 165,846,000 in 2020[9] - The company's cash and cash equivalents decreased significantly to HKD 4,754,000 from HKD 11,245,000, a drop of 57.8%[9] - Total liabilities were reduced to HKD 82,483,000 from HKD 151,204,000, a decrease of 45.5%[11] - Total current assets were approximately HKD 91.0 million, a decrease from HKD 165.8 million in the previous year[54] - As of December 31, 2021, the debt-to-equity ratio was 49.2%, down from 65.3% in the previous year[54] Segment Performance - The LED segment generated revenue of HKD 107,886,000, while the total revenue across all segments was HKD 110,860,000 for the year ended December 31, 2021[27] - The total segment loss amounted to HKD 2,902,000, with the largest loss coming from the liquor segment at HKD 2,470,000[27] - Sales of LED and related products amounted to HKD 107,886, down from HKD 138,897 in the previous year, representing a decline of approximately 22%[38] - The electronic optical products segment recorded revenue of approximately HKD 2.7 million, unchanged from the previous year[48] - Revenue from the liquor trading segment was approximately HKD 300,000, a decrease from HKD 400,000 in the previous year[49] Expenses and Costs - The group incurred capital expenditures of HKD 584,000 during the reporting period[27] - The group recorded a depreciation expense of HKD 2,242,000 for property, plant, and equipment[27] - The company recorded a significant increase in employee benefits expenses to HKD 6,870 in 2021 from HKD 5,864 in 2020, an increase of approximately 17%[39] - Administrative and other operating expenses totaled approximately HKD 14.7 million, an increase of HKD 1.5 million from HKD 13.2 million in the previous year, primarily due to increased expenses related to new product development[51] - Depreciation expenses for property, plant, and equipment decreased to HKD 764 in 2021 from HKD 2,206 in 2020, a reduction of about 65%[39] Corporate Governance and Legal Matters - The company is committed to good corporate governance practices, emphasizing transparency and accountability to shareholders[72] - The audit committee has been established in accordance with GEM listing rules, consisting of four independent non-executive directors[70] - The company has initiated legal proceedings to claim a profit guarantee amounting to HKD 16,188,374 related to the acquisition of Arnda Semiconductor Limited[66] - The company has instructed its legal advisors to maintain its rights in ongoing legal disputes, including claims for approximately HKD 3,500,000[66] - The board of directors believes that having the same person serve as both chairman and CEO allows for more effective long-term strategy formulation[72] Future Outlook and Strategic Plans - The group expects to have sufficient working capital to meet its financial obligations for the next twelve months[20] - The group anticipates improvements in the supply chain in 2022, which may ease credit terms from suppliers[24] - The company is actively reviewing its business operations and financial status to formulate future business plans and strategies for diversification and revenue expansion[67] COVID-19 Impact - The group prepaid HKD 28,500,000 to suppliers to maintain cash flow amid COVID-19 disruptions[24] - The company is closely monitoring the impact of COVID-19 on its financial condition and performance, adopting a conservative approach to capacity planning and strict cost management measures[67] - The unaudited financial results for the year ending December 31, 2021, have not been completed on schedule due to COVID-19 restrictions in certain regions of China, causing delays in providing further evidence to auditors[76] - The company expects to complete the audit by May 16, 2022, and will publish the audited annual results and annual report by May 31, 2022[78] - The financial information disclosed is unaudited and has not received the approval of the company's auditors, urging shareholders and potential investors to act cautiously when trading the company's securities[79] Shareholder Returns - The company does not recommend the payment of a final dividend for the year, compared to none in the previous year[68] - The company has not repurchased any shares listed on GEM during the year, nor have any subsidiaries bought or sold shares[69] - The company has adopted a code of conduct regarding securities trading by directors, ensuring compliance with GEM listing rules[75]
无缝绿色(08150) - 2021 Q4 - 年度财报