Financial Performance - The group's revenue for the fiscal year ending March 31, 2023, was approximately HKD 55.29 million, a decrease of about 31.18% compared to HKD 80.34 million for the previous year[6]. - The net loss for the fiscal year ending March 31, 2023, was approximately HKD 14.46 million, which is a reduction of about 33.81% from a net loss of HKD 21.85 million in the previous year[6]. - Revenue from the electronic products segment was approximately HKD 26.49 million, down about 43.97% year-over-year, primarily due to decreased sales of fish finders and buzzers[12]. - The restaurant services segment generated revenue of approximately HKD 28.80 million, an increase of about 17.27% year-over-year, attributed to improved market conditions in Hong Kong as COVID-19 restrictions eased[13]. - The company's total employee costs, including directors' remuneration, were approximately HKD 24.72 million, down from HKD 26.67 million in the previous year[28]. - The company's current assets net value was approximately HKD 28.45 million, significantly up from HKD 2.62 million in the previous year, with a current ratio of 3.48[21]. - The company did not recommend any final dividend for the fiscal year ending March 31, 2023[110]. Operational Strategy - The company plans to focus on low-risk, high-margin businesses and invest in the food and beverage sector to improve operational efficiency in the coming years[7]. - The company aims to expand its EMS business to international clients, particularly in the Chinese market, which is seen as having significant potential[17]. - The company plans to launch four to five new products in 2023, including lighting security system controllers and power management boards, to enhance market share and attract new customers[18]. - The management anticipates short-term impacts from COVID-19 but expects recovery as the government may implement measures to stimulate economic growth[30]. - The company aims to accelerate cash flow collection and increase sales agreements with core customers to enhance profitability[30]. - The company is focused on maintaining effective operations and ensuring compliance with GEM listing rules and applicable laws[42]. Corporate Governance - The company has a strong commitment to shareholder engagement and appreciates the support from business partners and employees[9]. - The company has adopted the GEM Listing Rules corporate governance code, enhancing accountability and performance[59]. - The board includes independent non-executive directors with significant experience in finance and technology, enhancing governance and strategic oversight[51][53]. - The company has established a remuneration committee to review the compensation framework for directors and senior management[149]. - The company confirms compliance with GEM listing rules regarding related party transactions, with significant transactions disclosed in the financial statements[152]. - The board is responsible for the internal control system and risk management procedures, ensuring compliance with legal and regulatory requirements[88]. Environmental Sustainability - The company has implemented various policies to support environmental sustainability and reduce its environmental impact[112]. - The company has introduced measures for sustainable development, including a budget for environmentally related facilities and increased use of renewable energy sources like solar power[167]. - The company has established a comprehensive environmental management system to comply with regulations and improve environmental performance[177]. - The total greenhouse gas emissions amounted to 549.98 tons of CO2 equivalent, with 78.78% attributed to indirect emissions from energy sources[191]. - The company has committed to environmentally friendly procurement practices, prioritizing local suppliers to reduce transportation emissions[191]. - The company has implemented external environmental assessments to monitor compliance with local laws and regulations[186]. Risk Management - The company acknowledges the challenges faced due to raw material price fluctuations and increased competition in the manufacturing sector in China[6]. - The board remains vigilant regarding global economic uncertainties and is focused on maintaining market leadership through innovation and expansion[7]. - The company is committed to strict risk control and aims to enhance profitability while providing better returns to shareholders[7]. - The company has taken necessary actions to address any identified deficiencies in its internal control system[88]. Shareholder Relations - The company has established multiple channels for communication with shareholders and stakeholders, ensuring effective engagement[104]. - The company has a clear mechanism for shareholders to request the convening of special general meetings, requiring at least 10% of the voting rights[100]. - The company has a remaining unutilized amount of HKD 0.26 million from the IPO proceeds as of March 31, 2023[31]. Employee Engagement and Diversity - As of March 31, 2023, the gender ratio among employees was approximately 55 males to 79 females, indicating a commitment to gender diversity[93]. - The board currently consists of 7 members, including 2 females, and aims to enhance female representation in senior management roles[93]. - The company is committed to providing comprehensive training for female employees to enhance their career development opportunities[93]. Product Development - The company launched a new product, a skill lighting line indicator, designed for various fishing bite alarms, enhancing reliability and usability[5]. - The management team is actively involved in product development, quality control, and supply chain management, contributing to operational excellence[56].
毅高国际控股(08218) - 2023 - 年度财报