Financial Performance - The company's revenue for the fiscal year 2022 was approximately HKD 39.7 million, a decrease of 26.5% compared to HKD 54.0 million in the fiscal year 2021[9]. - The after-tax loss for the fiscal year 2022 was HKD 8.8 million, up from a loss of HKD 3.5 million in the fiscal year 2021[9]. - The significant one-time impairment loss of HKD 3.4 million contributed to the increased loss in fiscal year 2022[9]. - The group recorded a loss of approximately HKD 8.8 million in FY2022, compared to a loss of HKD 3.5 million in FY2021, with the increase in loss mainly due to revenue decline and impairment losses on property and equipment[22]. - Other income decreased from approximately HKD 1.6 million in FY2021 to approximately HKD 0 in FY2022, a decline of about 100% due to government subsidies received in FY2021 related to COVID-19[18]. Revenue Breakdown - The revenue breakdown for fiscal year 2022 included HKD 34.8 million (87.8%) from the Hong Kong Stock Exchange, HKD 0.6 million (1.5%) from the Singapore Exchange, HKD 0.08 million (0.2%) from the European Exchange, and HKD 4.2 million (10.5%) from over-the-counter trading[16]. Operational Challenges - The company faced challenges due to the ongoing COVID-19 pandemic and sanctions imposed by the U.S. on certain Chinese companies, which significantly impacted client activities and trading volumes[9]. - The trading volume was severely affected by intermittent lockdowns and social distancing measures in Hong Kong[9]. Future Plans and Strategies - The company plans to expand its product offerings and recruit new staff to capture a larger market share despite the anticipated challenges in 2023[10]. - The company aims to maintain a balance between stability and innovation to continue providing quality services to clients and returns to shareholders[10]. - The company is committed to becoming a leading brokerage firm in the region while ensuring sustainable development[10]. Financial Stability - As of March 31, 2022, the current ratio was approximately 22.7 times, up from 17.8 times in the previous year, indicating strong financial stability[24]. - The interest coverage ratio was approximately (58.2) times in FY2022, compared to (38.9) times in FY2021, reflecting sufficient resources to meet operational funding needs[24]. - The group had no significant investments representing 5% or more of total assets as of March 31, 2022[33]. - The group had no contingent liabilities as of March 31, 2022[37]. Employee Costs and Management - Employee costs fell from approximately HKD 39.3 million in FY2021 to approximately HKD 28.8 million in FY2022, a decrease of about 26.7%, primarily due to reduced bonuses in line with the group's revenue decline[19]. - The company has a strong management team with extensive experience in derivatives trading and financial management, including executives with over 15 years of experience in the industry[69][72][74]. - The management team includes a Chief Financial Officer with over ten years of experience in accounting and finance, enhancing the company's financial oversight capabilities[75]. Corporate Governance - The company emphasizes good corporate governance practices to maintain transparency and accountability, adhering to the principles outlined in the corporate governance code[78][79]. - The board of directors consists of a mix of executive and independent non-executive directors, ensuring compliance with GEM listing rules regarding independent board composition[82]. - The company has established a compliance framework to ensure adherence to regulatory requirements and effective risk management practices[76]. - The company supports the division of responsibilities between the Chairman and the CEO to ensure balanced judgment[87]. Environmental, Social, and Governance (ESG) Initiatives - The company is focusing on sustainability initiatives, aiming to reduce carbon emissions by 20% over the next three years[60]. - The board of directors is directly responsible for overseeing ESG-related issues and ensuring compliance with ESG policies[135]. - Total greenhouse gas emissions for the fiscal year 2022 were 46 tons of CO2 equivalent, a decrease from 48 tons in 2021[144]. - The company emphasizes waste reduction and resource efficiency as part of its waste management goals[145]. Employee Development and Safety - The company emphasizes the importance of employee development and provides various training programs to adapt to changing business environments[154]. - The group has maintained a strong focus on employee health and safety, with no recorded work-related fatalities or lost workdays due to injuries over the past three years[156]. - The company has established special work arrangements for extreme weather conditions to ensure employee safety[149]. Customer Satisfaction and Community Engagement - The group has not received any significant complaints regarding its products and services during the year, indicating a high level of customer satisfaction[166]. - The group actively encourages employee participation in charitable and volunteer activities to contribute to community development[168].
衍汇亚洲(08210) - 2022 - 年度财报