Financial Performance - The group's revenue for the fiscal year ending March 31, 2023, was HKD 44.7 million, with a gross profit of approximately HKD 30.8 million, resulting in a gross margin of about 68.9%[8] - The group reported a loss of approximately HKD 34.7 million for the year[8] - The group's revenue for the year ended March 31, 2023, was approximately HKD 44.7 million, a decrease of about 4.1% from HKD 46.6 million for the previous fiscal year[16] - Gross profit decreased by approximately 10.7% to about HKD 30.8 million, down from HKD 34.5 million in the previous year[17] - The group recorded a loss before tax of approximately HKD 34.7 million, compared to a loss of HKD 18.7 million in the previous year[21] - Total assets decreased by approximately HKD 2.1 million to about HKD 93.4 million, down from HKD 95.5 million in the previous year[25] - Total liabilities decreased by approximately HKD 8.7 million to about HKD 80.2 million, down from HKD 88.9 million in the previous year[25] - The equity of the company increased by approximately HKD 6.6 million to about HKD 13.2 million[26] - The current liabilities net amount was approximately HKD 11.2 million, down from HKD 15.1 million in the previous year[27] - The debt-to-equity ratio as of March 31, 2023, was 70%, compared to 77% in the previous year[30] Operational Changes - The company plans to close 2 lingerie stores and 1 beauty service store to enhance overall operational efficiency due to a weak retail market[15] - The group has shifted from in-house lingerie production to outsourcing since December 2022 to save production costs and improve supply chain flexibility[15] - The company will continue to enhance its core product quality and optimize its product mix while strengthening marketing efforts and controlling costs[9] - The outlook for the consumer industry recovery is expected to take time, with the lingerie business anticipated to lag behind the overall market recovery[9] Business Development and Diversification - The company is developing a health management platform based on traditional Chinese medicine, focusing on chronic disease treatment and prevention, aiming to diversify its business foundation and increase revenue sources[9] - The company is focusing on developing its influencer agency services through online platforms[9] - The company has launched influencer agency services through online platforms, starting in January 2023, with expectations for this new business to become a major revenue source[42] - The company has also begun generating revenue from lending services, contributing to business diversification and increased income sources[42] - The company aims to enhance its operational efficiency and financial stability through strategic fundraising activities[43][45][47][49] - The company has successfully diversified its revenue streams through new business initiatives, including influencer agency services and lending[42] Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules, ensuring transparency and accountability[64] - The company has not appointed a CEO since October 2017, with the role being collectively performed by the executive directors[64] - The board of directors emphasizes high standards of corporate governance to protect shareholder interests and enhance long-term shareholder value[63] - The company has a strong focus on internal controls and risk management to safeguard assets and ensure accurate financial reporting[63] - The independent non-executive directors have extensive experience in finance, accounting, and corporate governance, contributing to the board's effectiveness[56][57][59] - The company is committed to continuous review and updates of its governance practices to align with legal and business standards[64] - The company has established a code of conduct for directors' securities transactions, ensuring compliance with GEM listing rules[65] - The board consists of six members, including three executive directors and three independent non-executive directors[68] - The board held 19 meetings and one annual general meeting during the reporting period[73] - All independent non-executive directors confirmed their independence according to GEM Listing Rules[74] Risk Management and Compliance - The risk management and internal control systems are designed to ensure the protection of assets and compliance with relevant rules and regulations[93] - The company is committed to managing risks that may affect operational efficiency and achieving business objectives[93] - The audit committee reviewed the independent audit results conducted by external professional advisors during the period[80] - The company has established a compliance committee to oversee all compliance matters and ensure proper approval of significant acquisitions and transactions[99] - The audit committee confirmed that the consolidated financial statements for the year ended March 31, 2023, were prepared in accordance with applicable accounting standards and GEM listing rules[82] - The company has established a reporting mechanism for employees to confidentially raise concerns about misconduct[192] Environmental, Social, and Governance (ESG) Initiatives - The company has established an environmental policy to regulate emissions and minimize negative environmental impacts, focusing on eco-friendly operations[133] - The company reported no significant violations of air and greenhouse gas emissions regulations during the fiscal year ending March 31, 2023[133] - The company is committed to aligning its environmental goals with the Chinese government's carbon neutrality vision, enhancing its reputation[121] - The company has formed an Environmental, Social, and Governance (ESG) working group to collect data and prepare ESG reports, regularly reporting to the board[122] - The ESG report covers major business activities in Hong Kong, Macau, and Shenzhen, consistent with the previous year's report[118] - The company aims to enhance its ESG performance by identifying and prioritizing significant issues through stakeholder feedback[129] - The company has implemented effective management policies and internal control systems regarding ESG matters[131] Employee and Workplace Policies - The company has a policy of promoting internal talent before considering external recruitment, emphasizing merit-based promotions[165] - The company provides competitive compensation packages, including performance bonuses and medical insurance plans, to enhance employee retention[166] - The overall employee turnover rate for the year was approximately 32%, an increase from 28% in the previous year[161] - The company reported a total of 1 workplace injury resulting in a loss of 29 workdays, compared to 338 workdays lost due to injuries in the previous year[169] - The company has achieved zero work-related fatalities for three consecutive years, maintaining a strong focus on health and safety compliance[169] - The company has established various communication channels to understand employee needs and expectations, including satisfaction surveys and internal emails[167] - The group provided 56 hours of continuous professional development training for employees, averaging 0.64 hours per employee[173] Community Engagement and Social Responsibility - The group donated approximately HKD 500 to the Hong Kong Hereditary Breast Cancer Family Registry during the "Pink October" campaign, focusing on women's health[194] - The group has established community investment policies prioritizing education, social welfare, and women's health to address social issues[194] - The group has not reported any serious violations of child labor and forced labor laws during the year[174] - The group has implemented a zero-tolerance policy against unethical behavior, including fraud and bribery, with strict internal controls and training for all employees[190]
海纳星空科技(08297) - 2023 - 年度财报