Financial Performance - The company recorded a net loss of approximately HKD 37.8 million for the year ended March 31, 2022, compared to a net loss of approximately HKD 14.7 million for the same period in 2021, primarily due to cost overruns in foundation works and a decrease in other income[16][29]. - Revenue for the year ended March 31, 2022, was approximately HKD 146.7 million, an increase of about 3.5% from approximately HKD 141.8 million for the year ended March 31, 2021, mainly due to an increase in contracts awarded[25]. - The company's cost of sales increased to approximately HKD 170.1 million for the year ended March 31, 2022, a rise of about 34.4% from approximately HKD 126.6 million for the previous year, attributed to delays in project progress[26]. - Gross loss for the year ended March 31, 2022, was approximately HKD 23.4 million, a decrease of about 253.9% compared to a gross profit of approximately HKD 15.2 million for the previous year, with a gross loss margin of approximately 15.9%[27]. - Administrative expenses decreased to approximately HKD 14.2 million for the year ended March 31, 2022, down about 7.2% from approximately HKD 15.3 million for the previous year, mainly due to a reduction in legal and professional fees[28]. Business Strategy and Development - The company plans to implement rigorous cost control measures to improve operational efficiency and profitability[10]. - The company is actively seeking potential business opportunities to expand revenue sources and enhance shareholder returns[11]. - The group intends to develop new business segments in technology innovation, including smart building technology and financial technology[11]. - An acquisition agreement has been established to acquire an investment holding company primarily engaged in financial and fintech businesses[11]. - The company aims to diversify its revenue sources by exploring opportunities in the financial and fintech sectors, which are seen as having significant growth potential[17]. Operational Efficiency - The company is focused on enhancing project management capabilities to improve overall workflow efficiency[11]. - The group will continue to bid for contracts, particularly those with higher profit margins, while managing operational costs[10]. - The company plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and drilling works[17]. - The company plans to hire additional full-time employees to enhance operational capabilities and business development efforts[45]. Corporate Governance - The company emphasizes high levels of corporate governance to maintain shareholder trust and create long-term value[71][72]. - The board of directors is responsible for overseeing the company's overall strategy and financial performance, ensuring accountability and transparency[74]. - The company has adopted the GEM Listing Rules for securities trading by directors, confirming compliance with all applicable regulations during the reporting year[73]. - The company has established three board committees: the remuneration committee, nomination committee, and audit committee, each with clear written terms of reference[88]. - The company has maintained compliance with the corporate governance code during the fiscal year ending March 31, 2022[72]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and has integrated environmental, social, and governance (ESG) considerations into its business strategy[136]. - The company is seeking alternatives to carbon-intensive concrete, which is a major source of carbon footprint in the industry[137]. - The company actively welcomes stakeholder feedback, especially regarding significant ESG issues identified in its importance assessment[146]. - The company has established multiple communication channels with shareholders to ensure timely and unbiased information dissemination[132]. - The company aims to implement measures to improve environmental, social, and governance management and performance in the upcoming fiscal year[154]. Waste and Resource Management - The group generated a total of 130,159.88 tons of non-hazardous waste in the fiscal year 2021/2022, significantly increasing compared to the previous fiscal year[175]. - The group has adopted the 3R principles (Reduce, Reuse, Recycle) in its waste management policy to minimize waste disposal and promote effective use of natural resources[179]. - The group has implemented a centralized waste collection system in its offices to efficiently manage waste generated by employees[179]. - The group plans to expand the disclosure scope to include all types of solid waste generated across its business operations in the future[179]. - The group aims to reduce solid waste and wastewater levels in the fiscal year 2022/2023, maintaining levels not exceeding those of the fiscal year 2021/2022[187].
中国新消费集团(08275) - 2022 - 年度财报