Financial Performance - For the fiscal year ended March 31, 2022, the group's unaudited revenue was HKD 274,251,000, a decrease of 41.5% compared to HKD 468,620,000 for the previous year[6] - The gross profit for the fiscal year was HKD 19,210,000, down from HKD 20,840,000, reflecting a decline of approximately 7.8%[6] - The group reported a loss before tax of HKD 3,940,000, compared to a profit of HKD 21,215,000 in the previous year[6] - The total comprehensive loss attributable to owners of the company for the year was HKD 4,046,000, contrasting with a profit of HKD 20,647,000 in the prior year[6] - Expected revenue recognition for civil engineering construction contracts in 2022 is HKD 570,868,000, compared to HKD 823,194,000 in 2021, representing a decrease of approximately 30.7%[19] - Other income for 2022 is HKD 1,782,000, significantly lower than HKD 21,905,000 in 2021, primarily due to the absence of government subsidies in 2022[24] - The company reported a loss attributable to owners of HKD 4,046,000 in 2022, compared to a profit of HKD 20,647,000 in 2021[37] - The company did not recommend a final dividend for the year ended March 31, 2022, consistent with no dividend in 2021[39] Assets and Liabilities - The group's total assets as of March 31, 2022, were HKD 278,633,000, an increase from HKD 252,266,000 in the previous year[8] - Current liabilities increased to HKD 209,044,000 from HKD 183,946,000, indicating a rise of approximately 13.5%[8] - The net asset value of the group was HKD 180,419,000, a decrease from HKD 184,465,000 year-on-year[8] - The group’s net asset value as of March 31, 2022, was approximately HKD 180,400,000, down from about HKD 184,500,000 a year earlier[62] - Current assets increased to approximately HKD 278,600,000 as of March 31, 2022, compared to about HKD 252,300,000 the previous year, mainly due to an increase in contract assets[62] - Current liabilities rose to approximately HKD 209,000,000 as of March 31, 2022, from about HKD 183,900,000, primarily due to increased bank borrowings[64] - The group’s debt-to-equity ratio was 70.5% as of March 31, 2022, compared to 65.2% the previous year[64] Employee Costs and Financing - The company’s total employee costs in 2022 were HKD 134,040,000, down from HKD 162,897,000 in 2021, indicating a reduction of approximately 17.7%[32] - The total employee cost for the year ended March 31, 2022, was approximately HKD 134,000,000, down from about HKD 162,900,000 the previous year, reflecting a reduction in workforce from 450 to 218 employees[74] - Total financing costs for 2022 amount to HKD 4,174,000, slightly down from HKD 4,325,000 in 2021[30] - The company’s bank loan interest expense for 2022 was HKD 3,350,000, a slight decrease from HKD 3,635,000 in 2021[30] - Financing costs decreased by approximately HKD 100,000 or 3.5% to about HKD 4,200,000 for the year ended March 31, 2022, primarily due to a reduction in the number of employees[57] Operational Highlights - The group primarily generates revenue from civil engineering construction services provided in Hong Kong[15] - Revenue from major customers in 2022 includes HKD 71,232,000 from Customer A and HKD 45,960,000 from Customer B, with Customer B contributing HKD 241,222,000 in 2021[22] - The number of contracts awarded during the year was 30, with a total contract value of HKD 27.2 million, bringing the total number of contracts to 77 and total contract value to HKD 1,137.9 million as of March 31, 2022[45] Audit and Compliance - The company has not completed the audit procedures for the fiscal year due to the impact of COVID-19[5] - The audit committee has reviewed the unaudited annual results for the fiscal year ending March 31, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[85] - The completion of the audit procedures for the annual results has been delayed due to the COVID-19 pandemic, with expectations to finalize by July 19, 2022[86] - The company will issue further announcements regarding the audited annual results and any significant discrepancies once the audit is completed[88] - The unaudited annual results and annual report will be published on the GEM website and the company's website after the audit procedures are finalized[89] Governance and Shareholder Matters - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring proper regulation of its operations and decision-making processes[78] - No securities transactions by directors were found to be in violation of the trading code during the fiscal year ending March 31, 2022[79] - The company did not repurchase any of its own shares during the fiscal year ending March 31, 2022[80] - The company has not granted any share options under the share option scheme since its adoption on January 24, 2018[81] - The group did not engage in any significant acquisitions or disposals of subsidiaries or associates during the year ended March 31, 2022[66] - The group has no major contingent liabilities or capital commitments as of March 31, 2022[71][72]
常满控股(08523) - 2022 Q4 - 年度财报