Financial Performance - The group's total revenue increased by approximately HKD 80.5 million or 31.3% from about HKD 257.2 million for the year ended March 31, 2022, to approximately HKD 337.7 million for the year ended March 31, 2023[10]. - Profit attributable to the company's owners rose by approximately HKD 5.4 million or 67.5% from about HKD 8.0 million for the year ended March 31, 2022, to approximately HKD 13.4 million for the year ended March 31, 2023[10]. - Revenue increased from approximately HKD 257.2 million for the year ended March 31, 2022, to approximately HKD 337.7 million for the year ended March 31, 2023, representing a growth of about 31.3%[20]. - Gross profit increased from approximately HKD 34.3 million to approximately HKD 42.7 million, a growth of about 24.5%[23]. - Sales costs rose from approximately HKD 222.9 million to approximately HKD 295.0 million, an increase of about 32.3%[22]. - Other income surged from approximately HKD 0.2 million to approximately HKD 1.3 million, primarily due to subsidies received under the employment support scheme[24]. - Administrative expenses rose from approximately HKD 16.0 million to approximately HKD 22.0 million, an increase of about 37.5%[28]. - Income tax expenses rose by approximately HKD 0.5 million or 31.3%, from about HKD 1.6 million for the year ended March 31, 2022, to approximately HKD 2.1 million for the year ended March 31, 2023, due to an increase in profit before tax from approximately HKD 9.6 million to about HKD 15.6 million[30]. - The overall gross profit margin remained relatively stable at approximately 13.3% for the year ended March 31, 2022, and approximately 12.7% for the year ended March 31, 2023[23]. Business Strategy and Outlook - The company is cautiously optimistic about the overall business outlook as it expects to benefit from the gradual economic recovery post-COVID-19[11]. - The company will continue to provide comprehensive services in new basic engineering, site leveling, renovation, and maintenance works, among others[11]. - The company successfully acquired 50% of the issued share capital of an investment company, which has become a joint venture, focusing on commercial redevelopment projects in Tsim Sha Tsui[11]. - The investment strategy includes diversifying the business portfolio and expanding the customer base through active participation in property redevelopment projects[11]. - The company continues to explore business and investment opportunities to enhance revenue sources and secure larger projects[18]. Capital and Financing - The capital debt ratio decreased from approximately 68.9% as of March 31, 2022, to about 63.3% as of March 31, 2023, primarily due to an increase in total equity[35]. - As of March 31, 2023, the group's bank balance and cash amounted to approximately HKD 44.0 million, down from HKD 51.3 million in the previous year[35]. - The group has provided a shareholder loan of approximately HKD 33.5 million to the joint venture Acasa as of March 31, 2023[38]. - The company has committed to a maximum principal amount of HKD 154 million for a 36-month term loan financing to develop a property[53]. - The group's financing costs increased from approximately HKD 2.4 million for the year ended March 31, 2022, to approximately HKD 4.0 million for the year ended March 31, 2023, an increase of about HKD 1.6 million[29]. Employee and Management - As of March 31, 2023, the company employed a total of 57 employees, an increase from 49 employees in the previous year[57]. - The total employee costs, including director remuneration, amounted to approximately HKD 27.1 million for the year ending March 31, 2023, compared to approximately HKD 21.3 million in the previous year[57]. - The company made total contributions to the retirement benefits plan of approximately HKD 0.8 million for the year ending March 31, 2023, up from HKD 0.6 million in the previous year[59]. - The employee turnover rate rose to 24% in 2023 from 22% in 2022, with male turnover at 36% and female turnover at 9%[167]. - The company has developed clear policies to attract and retain talent, focusing on competitive compensation and career development opportunities[165]. Corporate Governance - The company has adopted corporate governance practices in line with GEM listing rules and has complied with all significant aspects of the corporate governance code[62]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors as of March 31, 2023[69]. - The company has implemented a board diversity policy, aiming to include at least one female director by the end of 2024[77]. - The independent non-executive directors provide extensive business and financial expertise, contributing to effective governance and decision-making[80]. - The company emphasizes compliance with the GEM listing rules and has established internal controls to ensure adherence to governance standards[69]. Environmental and Social Responsibility - The company has committed to reducing emissions by 10% in the coming year[156]. - Total greenhouse gas emissions decreased from 93 tons in 2022 to 69 tons in 2023, representing a reduction of approximately 26%[155]. - The total electricity consumption decreased from 63,056 kWh in 2022 to 47,885 kWh in 2023, a reduction of about 24%[160]. - The company has maintained the same environmental, social, and governance management structure as the previous year[152]. - The company encourages employees to adopt energy-saving practices, such as turning off lights and using double-sided printing[157]. Compliance and Risk Management - The company has implemented a risk management and internal control system, which is regularly reviewed by the audit committee[96]. - The company has a strict anti-discrimination and equal opportunity policy, ensuring fair employment practices[81]. - The group has a zero-tolerance policy towards corruption and encourages employees to report any misconduct[182]. - There were no non-compliance cases related to anti-corruption laws and regulations as of March 31, 2023[184]. - The company has not reported any significant non-compliance in emissions or waste management during the fiscal year[154].
CHI HO DEV(08423) - 2023 - 年度财报