Financial Performance - The company's revenue for the fiscal year ending March 31, 2023, was approximately HKD 61.2 million, a decrease of about 51.4% compared to the previous fiscal year[11]. - Gross profit for the same period was approximately HKD 18.6 million, down by about HKD 10.9 million from the previous fiscal year, but the gross margin increased from approximately 23.4% to 30.4%[11]. - The company recorded a loss attributable to shareholders of approximately HKD 6.6 million, compared to a profit of HKD 3.4 million in the previous fiscal year[11]. - Revenue from home goods exports significantly decreased from approximately HKD 116.0 million in the previous fiscal year to about HKD 53.2 million[11]. - E-commerce revenue increased from approximately HKD 3.7 million to about HKD 4.7 million due to a shift in consumer purchasing behavior during the pandemic[11]. - Revenue from self-branded products in China fell from approximately HKD 6.0 million to about HKD 3.3 million due to lockdown measures[12]. - The total revenue for the fiscal year ending March 31, 2023, was approximately HKD 61.2 million, a decrease of about 51.4% compared to HKD 125.8 million in the fiscal year 2022[16]. - Home goods export business contributed approximately 86.9% to the total revenue, with sales of about HKD 53.2 million, down approximately 54.1% from the previous fiscal year[16]. - The gross profit margin increased from approximately 21.4% in the previous fiscal year to about 31.8% in the current fiscal year, despite a decrease in revenue[16]. - E-commerce sales were approximately HKD 4.7 million, an increase of about 27.0% from HKD 3.7 million in the previous fiscal year[17]. - The revenue from proprietary brand products decreased to approximately HKD 3.3 million, down about 45.0% from HKD 6.0 million in the previous fiscal year[17]. - Other income and net gains increased from approximately HKD 0.5 million to about HKD 1.2 million, mainly due to non-recurring government subsidies and interest income[22]. Assets and Liabilities - Total assets as of March 31, 2023, were approximately HKD 36.25 million, a decrease from HKD 43.95 million in the previous year[9]. - Total liabilities decreased to approximately HKD 7.16 million from HKD 8.41 million in the previous year[9]. - Total equity as of March 31, 2023, was approximately HKD 29.09 million, down from HKD 35.54 million[9]. - The debt-to-equity ratio increased to approximately 3.7% from 1.9% in the previous fiscal year, primarily due to an increase in lease liabilities[28]. Employee Information - As of March 31, 2023, the group employed a total of 36 full-time employees, an increase from 28 employees as of March 31, 2022[33]. - Total employee benefit expenses, including director remuneration, amounted to approximately HKD 9.3 million for the year, down from HKD 10.2 million in the previous year[33]. - The company has a total of 33 employees as of March 31, 2023, with a gender composition of approximately 39.4% male and 60.6% female employees[89]. Corporate Governance - The company adheres to the principles of good corporate governance to enhance shareholder value and ensure accountability[59]. - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance throughout the year[61]. - A code of conduct for securities trading by directors has been established, confirming that all directors have complied with the standards set forth[62]. - The board of directors is responsible for overseeing the group's business affairs and overall performance management[63]. - The board consists of a balanced mix of executive and independent non-executive directors to ensure high independence and effective judgment[66]. - The company has adopted a corporate governance code as defined in the GEM listing rules[65]. - There are three independent non-executive directors, exceeding the GEM listing rules requirement that at least one-third of the board members be independent[71]. - Each independent non-executive director has a fixed term of three years, renewable upon re-election[71]. - The board has mechanisms in place to ensure its independence, including the appointment of independent non-executive directors to various committees[74]. - The nomination committee evaluates the independence of all independent non-executive directors annually to ensure they can continue to make independent judgments[75]. - The company provides ongoing professional development training for all directors to enhance their understanding of their duties and responsibilities[79]. - The board has conducted an annual review of its mechanisms and believes they have been properly implemented[77]. - The company has appropriate insurance coverage for potential legal claims against directors[72]. - The board held four meetings during the year, with all directors participating in discussions on strategy, operations, and financial performance[80]. Shareholder Information - The company has adopted a shareholder communication policy to facilitate effective communication with shareholders[134]. - Shareholders holding at least 10% of the paid-up capital have the right to request a general meeting to discuss specified matters[130]. - The company will hold its annual general meeting on July 31, 2023, and will suspend the registration of shareholders from July 26 to July 31, 2023[154]. Future Plans and Strategies - The company plans to continue focusing on e-commerce and adapting to changing market conditions to improve future performance[11]. - The company plans to enhance its design and development capabilities, with an allocation of HKD 4.7 million, of which HKD 2.3 million has been utilized[149]. - The company aims to strengthen its quality assurance capabilities, with an allocation of HKD 4.7 million fully utilized[149]. - The company has allocated HKD 6.3 million to enhance brand recognition and reputation, with HKD 1.2 million utilized[149]. - The company is focused on expanding its existing customer base and market share, with an allocation of HKD 13.2 million, of which HKD 5.9 million has been utilized[149]. - The company emphasizes the importance of monitoring risks from competition and changes in consumer behavior in the home goods industry[143]. Risk Management - The risk management committee has been formed to monitor sanction risks, with one meeting held during the year[109]. - The board has conducted an annual review of the effectiveness of the risk management and internal control systems, finding them to be effective and adequate[120]. - The company currently does not have an internal audit function, and the board has decided to directly oversee internal controls[121]. Share Option Scheme - The company has established a remuneration committee to review the compensation policies for directors and senior management based on operational performance and market standards[175]. - The company has adopted a share option scheme to incentivize directors and eligible employees[175]. - The share option scheme allows eligible participants to be granted options as a reward for their contributions to the company[177]. - The company requires shareholder approval for any share options to be exercised[181]. - The share options must be exercised in multiples of the trading unit on the stock exchange[180]. - The company must issue shares to the option holders within 21 days after receiving the exercise notice and payment[180]. - The maximum number of shares that can be issued under the share option plan is capped at 10% of the total issued shares after the completion of the share offering, which amounts to 100,000,000 shares[182]. - The total number of shares that may be issued to any individual under the share option plan within any 12-month period cannot exceed 1% of the issued shares as of the grant date[183]. Environmental, Social, and Governance - The company’s environmental policy and performance discussions are included in the Environmental, Social, and Governance report[168].
舍图控股(08392) - 2023 - 年度财报