Financial Performance - Total revenue for the year ended March 31, 2023, was HKD 37,442,000, representing an increase of 3.84% from HKD 36,058,000 in 2022[5] - Gross profit for the same period was HKD 28,746,000, up from HKD 27,937,000, indicating a growth of 2.89%[5] - The company reported a loss before tax of HKD 6,697,000, an improvement from a loss of HKD 7,716,000 in the previous year, reflecting a reduction of 13.2%[5] - Basic and diluted loss per share decreased to HKD 1.85 from HKD 2.15, showing a 13.95% improvement[5] - The company reported a loss of HKD 6,682,000 for the year ended March 31, 2023, compared to a loss of HKD 7,783,000 in 2022, reflecting a reduction in losses[32] - The net loss attributable to the owners of the group for the year was approximately HKD 6.7 million, compared to a net loss of approximately HKD 7.8 million in the previous year[119] - The basic and diluted loss per share for the year was HKD 0.0185, compared to HKD 0.0215 in the previous year[128] - The net cash inflow from operating activities for the year ended March 31, 2023, was approximately HKD 9,330,000, an increase from HKD 7,881,000 in 2022[19] Assets and Liabilities - Non-current assets totaled HKD 98,798,000, down from HKD 106,473,000, a decrease of 7.06%[8] - Current assets increased to HKD 11,811,000 from HKD 11,015,000, marking a growth of 7.21%[8] - Total liabilities decreased to HKD 71,536,000 from HKD 79,704,000, a reduction of 10.26%[8] - The company's net assets increased to HKD 20,745,000 from HKD 20,390,000, reflecting a growth of 1.75%[10] - The company's equity attributable to owners at the end of the reporting year was approximately HKD 20.7 million, an increase of about HKD 0.3 million or 1.7% compared to HKD 20.4 million in 2022[141] Cash Flow and Financing - The company secured new bank borrowings amounting to HKD 10,000,000 in 2023, a significant increase from HKD 1,000,000 in 2022[22] - The company’s financing activities resulted in a net cash outflow of HKD 8,875,000 in 2023, slightly improved from HKD 9,758,000 in 2022[22] - The company has available undrawn bank financing of HKD 6,244,000 as of March 31, 2023, which supports its liquidity position[33] - The company has adopted a prudent policy in managing cash reserves to ensure sufficient liquidity for future growth opportunities[142] - The company monitors liquidity risk through monthly cash flow forecasts to maintain a balance between cash sustainability and flexibility[167] Operational Efficiency - The company plans to continue improving its working capital management and generating sufficient cash flow to meet its obligations over the next twelve months[37] - The management team has been streamlined to enhance operational efficiency and maintain appropriate staffing levels[119] - The group has focused on cost reduction strategies, including rent negotiations and wage control, to improve financial health[118] Environmental and Social Governance (ESG) - The board is committed to enhancing ESG performance, focusing on employee health and safety, product quality, and customer service as key issues for the reporting year[182] - The company has maintained compliance with environmental regulations, with no fines or penalties reported for violations during the reporting year[188] - The company continues to monitor the potential environmental impacts of its business activities to ensure sustainable operations[200] - The company aims to enhance resource efficiency and reduce emissions through ongoing initiatives and employee engagement[193] Employee and Training - Total number of employees increased from 52 in 2022 to 55 in 2023[87] - Total number of trained employees was 3 in 2022, representing 6% of the workforce[87] - Average training hours per employee in 2022 was 1 hour, with male employees averaging 3 hours[88] - The total employee costs for the reporting year amounted to HKD 14.2 million, up from HKD 13.3 million in 2022[143] Product and Customer Relations - The company received 2 customer service complaints related to food safety and tea product retail during the reporting year[98] - 0.03% of sold products were recalled for safety and health reasons during the reporting year[99] - The company has a zero-tolerance policy towards illegal labor and child labor, ensuring compliance with Hong Kong employment regulations[90] Inventory and Sales - The group's inventory net value at the end of the fiscal year was approximately HKD 7.0 million, consistent with the previous year, as the board decided to maintain inventory levels during uncertain times[134] - Trade and other receivables increased to approximately HKD 2.6 million, a rise of 13.1% from HKD 2.3 million at the end of the previous fiscal year[137] - Indirect sales through the online shopping platform HKTVmall significantly increased, compensating for some losses in traditional retail[119] Compliance and Risk Management - The company maintains a low credit risk by only engaging with reputable third parties and conducting strict credit checks[165] - Interest rate risk is considered low due to minimal fluctuations in market rates during the reporting year[166] - No significant disputes occurred with suppliers, customers, or other stakeholders during the reporting year[168]
英记茶庄集团(08241) - 2023 - 年度财报