Financial Performance - Revenue decreased from approximately HK$51.7 million for the year ended March 31, 2022, to approximately HK$35.5 million for the year ended March 31, 2023, representing a decrease of approximately HK$16.2 million or 31.4%[24]. - Cost of services decreased from approximately HK$24.1 million in 2022 to approximately HK$21.3 million in 2023, a decrease of approximately HK$2.8 million or 11.8%[25]. - Gross profit for the year ended March 31, 2023, was approximately HK$14.2 million, down from approximately HK$27.6 million in 2022, a decrease of approximately HK$13.4 million[26]. - Overall gross profit margin decreased from approximately 53.4% in 2022 to approximately 40.1% in 2023[26]. - Profit before tax decreased from approximately HK$5.7 million in 2022 to a loss of approximately HK$2.8 million in 2023, a decrease of approximately HK$8.5 million[41]. - Total comprehensive income decreased by approximately HK$7.2 million, from approximately HK$4.2 million in 2022 to a loss of approximately HK$3.1 million in 2023[43]. - Administrative expenses decreased from approximately HK$21.1 million in 2022 to approximately HK$16.9 million in 2023, a decrease of approximately HK$4.2 million or 20%[34]. - Finance costs decreased by approximately HK$1.2 million or 98.2%, from approximately HK$1.2 million in 2022 to approximately HK$22,000 in 2023[35]. - The total comprehensive loss for the year ended 31 March 2023 was approximately HK$3.1 million, a decrease of about HK$7.2 million from a profit of approximately HK$4.2 million for the year ended 31 March 2022[47]. - As of 31 March 2023, the Group's total assets were approximately HK$56.4 million, down from approximately HK$59.1 million as of 31 March 2022[50]. - Cash and cash equivalents decreased to approximately HK$5.1 million as of 31 March 2023, compared to approximately HK$22.6 million as of 31 March 2022[50]. - The current ratio as of 31 March 2023 was approximately 3.8 times, down from approximately 5.4 times as of 31 March 2022[51]. Business Strategy and Growth - The Group aims to strengthen its overall competitiveness and business growth in the interior design industry in Hong Kong[18]. - The Group aims to achieve sustainable growth and strengthen its competitiveness in the Hong Kong interior design industry[88]. - The Group plans to maintain its market position in Hong Kong, enhance brand recognition, and continue recruiting talents to support future growth[96]. - The Group will remain cautiously attentive to market conditions due to the unpredictable macroeconomic environment[95]. - The Group has no concrete plans for material investments or capital assets for the coming year[84]. - The Group did not make any significant investments, acquisitions, or disposals during the year ended March 31, 2023, that would constitute a discloseable transaction under GEM Listing Rules[83]. Shareholder and Stakeholder Relations - The Company expresses gratitude to shareholders, business partners, and customers for their support and trust throughout the year[19]. - The Board does not recommend the payment of any dividend for the year ended March 31, 2023, consistent with the previous year[86]. Corporate Governance - The Group has complied with the corporate governance code provisions throughout the year ended March 31, 2023, with some deviations noted[100]. - The Board is responsible for overseeing the Group's business and strategic decisions, ensuring effective corporate governance practices are in place[117]. - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined terms of reference[182]. - The Board comprises five Directors, all of whom have served for 1 year[124]. - The Company has adopted a code of conduct for securities transactions by Directors, reminding them of the prohibition on dealing in listed securities during blackout periods four times a year[105]. - All Directors have complied with the required standard of dealings set out in the GEM Listing Rules during the year ended March 31, 2023[106]. - The Company has arranged appropriate liability insurance coverage for all Directors, which includes various risks such as regulatory crisis events and litigation[120]. - The Board leads the management in defining the purpose, values, and strategic direction of the Group, fostering a corporate culture that benefits all stakeholders[112]. - The Board has delegated various responsibilities to Board committees to enhance governance and oversight[118]. Diversity and Inclusion - Approximately 60% of Directors and 46% of the total workforce are male, indicating a focus on diversity[128]. - The Company has established a Board Diversity Guideline to enhance effectiveness through diversity considerations[125]. - The Nomination Committee reviews the Board Diversity Guideline periodically to ensure its effectiveness[127]. - The Company believes in meritocracy for Board appointments, considering various diversity factors[126]. - Selection of Board candidates considers various diversity factors, including gender, age, cultural background, and professional qualifications[199]. Risk Management - The Group's credit risk is managed through individual credit evaluations and regular reviews of recoverable amounts[68]. - The Group's liquidity policy involves regular monitoring of current and expected liquidity requirements to maintain sufficient cash reserves[69]. - The Company has not made any new insurance arrangements for potential legal actions faced by Directors and senior officers since January 8, 2022, but believes all claims can be effectively managed[107]. ESG Initiatives - The Group is increasingly conscious of ESG initiatives and is focusing on supporting the global low-carbon and sustainable future transition[113]. - The Group focuses on achieving sustainable growth in both financial and ESG performance, executing disciplined management of revenue, profitability, and investment returns[113].
客思控股(08173) - 2023 - 年度财报