Financial Performance - The group recorded a revenue of HKD 48,200,000 for the fiscal year ending March 31, 2023, a decrease of 6.6% compared to HKD 51,600,000 in the previous year[14]. - The lending business contributed HKD 2,500,000 to the group's revenue, up from HKD 1,700,000 in 2022[14]. - The group's operating gross profit increased slightly from HKD 3,900,000 in the previous year to HKD 4,700,000[14]. - Other income rose to HKD 82,000, compared to HKD 58,000 in 2022, primarily due to government subsidies received[15]. - The net loss for the year was HKD 400,000, an improvement from a net loss of HKD 1,700,000 in the previous year[15]. - Operating expenses were HKD 15,700,000, down 6% from HKD 16,700,000 in the previous year, mainly due to the absence of share-based payment expenses[15]. - The group reported a loss attributable to owners of approximately HKD 25,500,000, a decrease from HKD 28,100,000 in 2022[16]. - The natural resources and commodities trading segment generated revenue of HKD 10,400,000, down from HKD 18,400,000 in the previous year due to ongoing impacts from COVID-19[19]. - The sales revenue of Maidis Group for the year ended March 31, 2023, was HKD 35,300,000, an increase from HKD 31,500,000 in 2022, reflecting a growth of approximately 5.7%[20]. - The lending business recorded a revenue of HKD 2,500,000 for the year, up from HKD 1,700,000 in 2022, indicating a growth of approximately 47.1%[24]. Business Strategy and Development - The group plans to continue diversifying its business and leveraging strong business connections to navigate a challenging business environment[12]. - The group is focusing on expanding its sales network and enhancing R&D capabilities in the fashion products sector, targeting the younger generation as key customers[11]. - The group plans to enhance brand image by developing registered new intellectual property and actively participating in various marketing activities, including trade fairs and exhibitions[20]. - Maidis Group is optimistic about business recovery and expansion, driven by customer satisfaction with differentiated products[21]. - The group aims to expand sales channels and offer flexible credit terms to attract distributors and maximize profits[20]. - The group is focusing on developing motion-sensing games to enhance brand awareness in the coming years[20]. Financial Position and Assets - The group’s net asset value as of March 31, 2023, was HKD 41,500,000, down from HKD 48,000,000 a year earlier, representing a decrease of approximately 14.6%[34]. - As of March 31, 2023, the total value of non-current assets was HKD 300,000[36]. - As of March 31, 2023, the net current assets were HKD 47,500,000, slightly down from HKD 47,700,000 in the previous year[36]. - The capital debt ratio as of March 31, 2023, was zero, unchanged from the previous year[37]. - The current ratio as of March 31, 2023, was approximately 2.5, down from 2.7 in the previous year[37]. - As of March 31, 2023, the group had no available bank financing, consistent with the previous year[38]. - The group held trading investments valued at HKD 400,000 as of March 31, 2023, with significant investments in three listed companies[43]. Employee and Compensation - The total employee cost for the year ended March 31, 2023, was approximately HKD 2,100,000, down from HKD 9,800,000 in the previous year[50]. - The company has a competitive compensation package and a pleasant working environment to attract and motivate employees[76]. - The remuneration policy for employees is based on performance, qualifications, and capabilities, ensuring fair treatment[108]. Corporate Governance - The company reported its audited financial statements for the year ending March 31, 2023[58]. - The company adhered to the GEM Listing Rules and corporate governance code throughout the fiscal year, with some deviations explained in the report[134]. - The board is committed to high standards of corporate governance to protect shareholder interests and enhance shareholder value[134]. - The board will continue to monitor and review corporate governance principles to ensure compliance[135]. - The company emphasizes a culture of integrity and accountability, with training provided to employees on ethical standards[137]. - The board is responsible for policy formulation and oversight of the company's financial performance[140]. - The board retains decision-making authority on significant strategic and business matters, including financial data and corporate governance issues[141]. - The board of directors consists of executive and independent non-executive directors, ensuring a balanced composition for effective leadership[146]. - Independent non-executive directors play a crucial role in providing impartial opinions on the group's strategy, performance, and control issues[146]. - The company complies with GEM Listing Rules, maintaining at least one-third of the board as independent non-executive directors[148]. - All independent non-executive directors have confirmed their independence annually, adhering to the standards set by GEM Listing Rules[148]. - Each executive director has a three-year service agreement, and non-executive directors are appointed for a term of three years[150]. - The company conducts regular board meetings, with a minimum of four meetings held annually to discuss business development and overall strategy[154]. - The board ensures that any significant transactions involving major shareholders or directors' conflicts of interest are reviewed and handled appropriately[155]. - Continuous professional development is provided to all directors, ensuring they are updated on legal and regulatory responsibilities[153]. - The nomination committee is responsible for reviewing the board's composition and assessing the independence of non-executive directors[150]. - The company maintains a commitment to good corporate governance practices, ensuring compliance with applicable rules and regulations[152]. Shareholder Communication - The company has adopted a shareholder communication policy to ensure timely and equal access to comprehensive information for shareholders and potential investors[194]. - The company has established several communication channels with shareholders, including sending annual meeting notices at least 20 business days prior to the meeting[195]. - The company provides corporate communications such as annual reports and quarterly reports in printed form, available on both the stock exchange and the company's website[196]. - Shareholders have the right to propose resolutions at the annual general meeting, ensuring their interests are protected[198]. - All resolutions presented at the shareholders' meeting must be voted on, with results published on the GEM website and the company's website[198]. - The company has not made significant changes to its Articles of Association and Memorandum of Association as of March 31, 2023[197]. - Shareholders can submit inquiries in writing to the company's main office in Hong Kong[198]. - The company invites external auditors to attend the annual general meeting to address questions related to auditing and accounting policies[195]. - The company ensures that all major issues, including the election of individual directors, are presented as independent resolutions for shareholder consideration[198]. - The company’s Hong Kong share transfer and registration office provides services related to share transfer registration and dividend payments[196]. - The company is committed to timely handling inquiries from shareholders and providing relevant information[197].
富誉控股(08269) - 2023 - 年度财报