Company Overview - CBK Holdings Limited is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange[1]. - The company acknowledges the higher investment risks associated with small and mid-sized companies listed on GEM[2]. - There is a risk of high market volatility for securities traded on GEM compared to those on the Main Board[3]. Financial Performance - Revenue from continuing operations for 2022 was HK$27,302,000, an increase from HK$12,634,000 in 2021[45]. - Loss for the year attributable to owners of the Company was HK$40,299,000 in 2022, compared to a loss of HK$9,940,000 in 2021[45]. - Total assets decreased to HK$36,733,000 in 2022 from HK$37,284,000 in 2021[45]. - The Group's net current assets decreased to HK$5,214,000 in 2022 from HK$14,287,000 in 2021[45]. - The Group's total equity attributable to owners decreased to HK$22,820,000 in 2022 from HK$24,375,000 in 2021[45]. - Total liabilities increased by approximately HK$6.0 million to approximately HK$17.1 million as of 31 March 2022, compared to approximately HK$11.1 million in 2021[65]. - Equity attributable to owners of the Company decreased by approximately HK$1.6 million to approximately HK$22.8 million as of 31 March 2022, down from approximately HK$24.4 million in 2021[65]. Operational Changes - The Group experienced a one-off loss of approximately RMB 18.0 million (equivalent to approximately HK$ 22.0 million) due to stock deterioration caused by a power supply failure at its cold storage facility[20]. - The Group recognized an impairment loss of approximately HK$14.7 million and HK$6.4 million against property, plant and equipment and right-of-use assets, respectively[20]. - The fifth wave of COVID-19 significantly impacted the Group's financial performance, leading to the closure of the "Fun Fun Fun" restaurant in March 2022[49]. - The Group opened a food processing factory ("Central Kitchen") in December 2021 to support its restaurants and expand food supply to external customers[26]. - The Group plans to expand the take-away product line and diversify marketing strategies to improve overall business performance[35]. Management and Governance - The directors of CBK Holdings Limited confirm the accuracy and completeness of the information in the report[5]. - The report includes financial highlights and management discussion and analysis sections[9]. - The auditors for the company are Mazars CPA Limited, indicating a commitment to compliance and governance[13]. - The Company has complied with the Corporate Governance Code provisions for the year ended March 31, 2022, except for the vacancy of the Chief Executive position since November 23, 2020, which has not materially impacted operations[114]. - The Board consists of four executive directors and three independent non-executive directors, meeting the GEM Listing Rules requirements[121]. Board and Committees - The Board has established various committees to delegate responsibilities and enhance operational efficiency[116]. - The audit committee is responsible for monitoring the integrity of financial statements and reviewing significant financial reporting judgments[149]. - The remuneration committee consists of four members, including the chairman of the Board and three independent non-executive directors[156]. - The nomination committee is responsible for formulating nomination policies and making recommendations on the appointment or re-appointment of directors[170]. - The legal compliance committee was established to oversee compliance with laws and regulations relevant to the company's operations[177]. Future Outlook - The management anticipates a resumption to normal life and optimistic consumer sentiments for the second half of 2022, driven by a growing vaccination rate and new consumption vouchers[29]. - The Group believes it will weather the storm of uncertainties in 2022 and achieve further growth, creating value for shareholders[28]. - The Group's vaccination rate in Hong Kong is increasing, which is expected to catalyze a rapid recovery in the local consumption market[31]. Shareholder Matters - The Company raised approximately HK$34.51 million from the rights issue by issuing 215,999,995 Rights Shares at HK$0.17 per share[68]. - The Board does not recommend the payment of a final dividend for the year ended 31 March 2022[74]. - The proposed share consolidation involves consolidating every thirty (30) existing shares of par value HK$0.01 into one (1) consolidated share of par value HK$0.30[70]. Compliance and Risk Management - The Group's internal control and risk management systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatement or loss[191]. - The Directors confirmed that appropriate and consistent accounting policies were adopted in preparing the consolidated financial statements for the year ended 31 March 2022[199]. - The Company aims to ensure compliance with the Corporate Governance Code and improve governance practices continuously[115].
汉诺佳池(08428) - 2022 - 年度财报