Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching HKD 150 million for the fiscal year[8] - The group's revenue for the year ended March 31, 2022, was HKD 36.1 million, unchanged from the previous year[18] - The net loss attributable to the owners of the group was approximately HKD 7.8 million, compared to a net loss of HKD 9.1 million in the previous year[18] - The gross profit for the year was approximately HKD 27.9 million, reflecting a year-on-year increase of 0.4%, with a gross margin of 77.3%[18] - The company provided a positive outlook, projecting a revenue growth of 10-12% for the next fiscal year[8] Customer and Market Growth - User data showed a growth in active customers by 20%, totaling 50,000 users by the end of the reporting period[8] - Market expansion plans include entering two new regions in Asia, aiming for a 25% increase in market share[8] - New product launches are expected to contribute an additional HKD 30 million in revenue, with a focus on premium tea products[8] Investment and Development - The company is investing HKD 5 million in technology development to enhance online sales platforms[8] - The company generated approximately HKD 2.9 million to improve existing information systems in accounting, procurement, and inventory management[18] - The company has utilized approximately HKD 24.7 million of the net proceeds from the issuance of new shares on GEM as of March 31, 2022[18] Cost Management - The group continues to seek ways to reduce costs and expenses, including negotiating lower rents and controlling wages[18] - Administrative expenses increased by approximately 11.1% to about HKD 3.2 million compared to the year ended March 31, 2021[1] - The total employee costs amounted to HKD 13.3 million, a decrease from HKD 14.6 million in 2021[41] Sustainability Initiatives - The company has committed to sustainability initiatives, with a goal to reduce carbon emissions by 20% by 2025[8] - The group reported a decrease in electricity consumption from 195,268 kWh in 2021 to 152,236 kWh in 2022, representing a reduction of approximately 22%[102] - Carbon dioxide (CO2) emissions decreased from 107,954.3 kg in 2021 to 91,897 kg in 2022, a reduction of about 15%[102] - The group is committed to reducing resource consumption and greenhouse gas emissions as part of its long-term sustainability goals[89] Employee Management - The total number of employees as of March 31, 2022, was 52, with a turnover rate of 29% for the overall workforce[126] - The group has maintained a competitive compensation package for employees, including overtime pay and bonuses, to foster good employee relations[122] - The company has maintained a safe working environment with no work-related fatalities in the past three years[134] Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, with no changes in composition during the reporting year[160] - The company has adopted a board diversity policy to enhance gender diversity, aiming to appoint at least one female director by December 31, 2024[166] - The company emphasizes the importance of corporate governance and compliance with relevant codes and regulations[177] Risk Management - The company faces low credit risk as it only engages with recognized and reputable third parties[81] - The company monitors liquidity risk based on monthly cash flow forecasts to maintain a balance between cash sustainability and flexibility[83] Compliance and Ethics - The company has a zero-tolerance policy towards illegal labor and child labor[142] - The group has implemented strict anti-corruption policies in compliance with Hong Kong's anti-bribery laws and has conducted regular fraud risk assessments[150] - No corruption lawsuits or whistleblower reports were received during the reporting year[154]
英记茶庄集团(08241) - 2022 - 年度财报