Financial Performance - For the year ended March 31, 2023, the group's revenue was approximately HKD 29.4 million, a decrease from approximately HKD 42.5 million for the year ended March 31, 2022, primarily due to the completion of maintenance and repair projects[12]. - The gross loss for the year ended March 31, 2023, was approximately HKD 5.0 million, compared to a gross profit of approximately HKD 3.8 million for the year ended March 31, 2022, mainly due to the decrease in revenue[12]. - The loss attributable to owners of the company for the year ended March 31, 2023, was approximately HKD 27.3 million, compared to a loss of approximately HKD 20.4 million for the year ended March 31, 2022, primarily due to the decrease in revenue[12]. - The company reported a focus on civil engineering projects, including road and highway maintenance, with over ten years of operational experience[147]. - The group reported a pre-tax loss of approximately HKD 27.4 million and an operating cash outflow of about HKD 2.5 million for the year ending March 31, 2023[127]. Governance and Board Structure - The board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[21]. - The chairman and executive director, Mr. Xia, has over 19 years of experience in road and highway management and maintenance, contributing to the company's strategic management[22]. - The CEO and executive director, Mr. Ye, has over 26 years of experience in the civil engineering industry, overseeing operations, business development, and financial management[24]. - Independent non-executive director, Ms. Tang, serves as the chair of the audit committee, providing independent judgment on strategy and performance[26]. - The board consists of 5 members, including 2 executive directors and 3 independent non-executive directors, ensuring independent judgment[87]. Risk Management and Compliance - The company faces significant risks including reliance on public projects, credit risk from clients, and potential impacts from COVID-19[57]. - The company has complied with all principles and applicable code provisions of the Corporate Governance Code for the year ended March 31, 2023[73]. - The board is responsible for assessing the nature and extent of risks associated with achieving strategic goals and maintaining effective risk management and internal control systems[117]. - The company has implemented a whistleblowing policy to promote transparency and accountability, with no significant fraud or misconduct reported affecting the financial statements for the year ending March 31, 2023[120]. Employee and Workforce Management - The company had a total of 10 employees as of March 31, 2023, down from 54 employees as of March 31, 2022[61]. - The employee turnover rate for 2023 was 68%, significantly higher than 31% in 2022 and 54% in 2021[191]. - The company emphasized a commitment to employee welfare, providing competitive salaries and benefits, including medical insurance and annual leave[193]. - The employee demographic showed that 75% were aged between 30 to 50 years, indicating a relatively experienced workforce[188]. - The company strictly adheres to local labor laws, ensuring no child or forced labor is involved in its recruitment processes[199]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the integration of ESG considerations into its business operations, ensuring compliance with legal regulations while promoting sustainable development[148]. - The company aims to minimize its ecological footprint through responsible resource management strategies[165]. - Total construction waste generated in 2023 was 2,901.7 tons, a decrease of 41% from 4,916.7 tons in 2022[167]. - Direct greenhouse gas emissions (Scope 1) in 2023 were 212.2 tons CO2 equivalent, down from 251.9 tons in 2022, representing a reduction of 15.7%[171]. - The company is committed to implementing energy-saving measures and utilizing renewable energy to minimize environmental impact[173]. Future Outlook and Strategic Focus - The group continues to focus on developing its maintenance and civil engineering business in Hong Kong, despite challenges posed by the COVID-19 pandemic[15]. - The Hong Kong government is expected to spend over HKD 100 billion annually on infrastructure projects in the coming years, which presents opportunities for the group[18]. - The company remains optimistic about securing several future projects and will continue to bid for civil engineering and maintenance projects to create more profits for shareholders[18]. - The company plans to maintain a strong focus on civil engineering and maintenance projects as the economy recovers post-COVID-19[147].
广骏集团控股(08516) - 2023 - 年度财报