Financial Performance - The group recorded a net loss attributable to the owners of approximately HKD 26.8 million for the year, compared to a net loss of approximately HKD 37.8 million in the previous year[15]. - The group's revenue for the reporting year was approximately HKD 135.1 million, a decrease of about 7.9% compared to approximately HKD 146.7 million for the year ended March 31, 2022[24]. - The cost of sales for the reporting year was approximately HKD 142.1 million, a decrease of about 16.5% from approximately HKD 170.1 million for the year ended March 31, 2022[25]. - The group's gross loss for the reporting year was approximately HKD 7.0 million, a reduction of about 70.2% from approximately HKD 23.4 million for the year ended March 31, 2022[27]. - Administrative expenses increased by approximately 41.1% to about HKD 20.1 million from approximately HKD 14.2 million for the year ended March 31, 2022[28]. - The group recorded a loss attributable to owners of approximately HKD 26.8 million for the reporting year, compared to a loss of approximately HKD 37.8 million for the year ended March 31, 2022[29]. Business Strategy and Development - The group plans to develop new business segments in technology innovation, including smart building technology and financial technology[12]. - The group aims to improve operational efficiency and profitability through rigorous cost control measures and enhanced project management capabilities[9]. - The group intends to actively seek potential business opportunities to diversify revenue sources and enhance shareholder returns[10]. - The group will continue to bid for contracts, particularly those with higher profit margins, to improve business performance[9]. - The group is optimistic about future business prospects, driven by the growing consumption market in China, which is expected to become the world's largest consumer market[10]. Investments and Financial Management - The company completed a rights issue on May 3, 2022, issuing 81,000,000 shares at a subscription price of HKD 0.55 per share, raising approximately HKD 42.3 million net after expenses[37]. - As of March 31, 2023, approximately HKD 32.1 million of the net proceeds from the rights issue had been utilized, leaving a balance of about HKD 10.2 million for future planned uses[41]. - The company allocated approximately HKD 20 million for the purchase of a new office and related renovation costs, with HKD 17.8 million already spent by March 31, 2023[41]. - The company plans to hire additional full-time employees with an allocated budget of HKD 7 million, of which only HKD 0.8 million has been utilized as of March 31, 2023[41]. - The company announced the issuance of convertible bonds to raise approximately HKD 29.4 million for the acquisition of Jun Da Holdings Limited, which was later terminated[42]. Corporate Governance - The company emphasizes the importance of high corporate governance standards to maintain shareholder trust and long-term value creation[87]. - The board of directors consists of one executive director and three independent non-executive directors, ensuring compliance with GEM listing rules[100]. - The company has adopted a code of conduct for securities trading by directors, confirming no non-compliance incidents during the reporting year[89]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, each with clear written terms of reference[108]. - The company has implemented a corporate governance code in accordance with GEM listing rules, ensuring adherence to all applicable provisions[88]. Risk Management and Internal Controls - The company maintains effective internal control and risk management systems to safeguard shareholder investments and group assets[145]. - The risk management process includes annual risk identification and assessment, with results documented for board and management review[146]. - The board reviews the effectiveness of the internal control system annually, with independent consultants conducting assessments[153]. - The company has established a whistleblowing policy to guide reporting of fraud and misconduct, ensuring confidentiality of reports[149]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to integrating environmental, social, and governance (ESG) considerations into its business strategy for sustainable development[158]. - The group is actively seeking alternatives to carbon-intensive concrete, which is a major source of carbon footprint in the industry[159]. - The ESG report covers the group's environmental and social performance from April 1, 2022, to March 31, 2023, highlighting its commitment to sustainability[160]. - The company aims to integrate green development concepts into its business strategy and operations to reduce its environmental footprint and achieve long-term sustainability[175]. - The company has set short-term emission reduction targets based on resource usage for the fiscal year 2022/2023[174]. Employee and Stakeholder Engagement - The company is committed to ensuring employee health and safety through regular emergency drills and safety meetings[187]. - The company values stakeholder feedback, particularly regarding significant ESG issues identified in its materiality assessment[167]. - The company encourages feedback from investors and stakeholders, facilitating communication through its main business location in Hong Kong[155]. - The company has engaged qualified waste collectors to manage construction waste in compliance with relevant laws and standards[199].
中国新消费集团(08275) - 2023 - 年度财报