Financial Performance - For the fiscal year ending March 31, 2023, the company reported revenue of approximately HKD 119,700,000, a decrease of about 1.3% compared to the previous year[12] - The company incurred a loss of HKD 26,800,000 for the fiscal year, which is a reduction of 87.3% from the prior year's loss[12] - The group's revenue decreased slightly from approximately HKD 121.3 million for the year ended March 31, 2022, to approximately HKD 119.7 million for the year ended March 31, 2023, a decrease of about HKD 1.5 million or approximately 1.3%[21] - The group recorded a loss of approximately HKD 26.8 million for the year ended March 31, 2023, a decrease of about HKD 183.8 million or approximately 87.3% compared to the previous year's loss of approximately HKD 210.4 million[30] Assets and Liabilities - Non-current assets decreased to HKD 47,707,000 in 2023 from HKD 117,893,000 in 2022[9] - Current assets also declined significantly to HKD 28,336,000 in 2023 from HKD 65,511,000 in 2022[9] - Total assets fell to HKD 76,043,000 in 2023, down from HKD 183,404,000 in 2022[9] - The company's net asset value decreased to HKD (52,888,000) in 2023 from HKD (26,116,000) in 2022[9] - As of March 31, 2023, current liabilities were approximately HKD 98.5 million, a decrease from HKD 138.9 million as of March 31, 2022, primarily due to repayment of bank loans and accounts payable[35] - Cash and bank balances as of March 31, 2023, were approximately HKD 3.6 million, down from HKD 38.2 million as of March 31, 2022, mainly due to loan repayments during the year[35] - The debt-to-equity ratio as of March 31, 2023, was 126.1%, significantly reduced from 515.0% as of March 31, 2022, due to repayment of bank loans[35] Dividends and Shareholder Returns - The company does not intend to declare a final dividend for the fiscal year ending March 31, 2023, consistent with the previous year[12] - No final dividend is proposed for the fiscal year ending March 31, 2023[174] - The company has adopted a dividend policy that maintains sufficient cash reserves for operational needs and future business growth[175] - The board will consider various factors, including financial performance and cash flow, when declaring dividends[177] Operational Strategies and Future Outlook - The company is optimistic about the growth potential of its construction business, aiming to maintain stable growth and maximize returns for shareholders[13] - Management is actively seeking opportunities to enhance profitability and potential revenue streams for the company[13] - The company has set a revenue target of $150 million for the next fiscal year, representing a 10% growth from the current year[60] - Future outlook remains positive, with management forecasting a 12% increase in overall profitability for the upcoming year[60] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share over the next two years[60] Governance and Compliance - The board of directors consists of six members, including three executive directors and three independent non-executive directors[75] - The company has adopted a code of conduct for securities trading that is less stringent than the GEM Listing Rules, and all directors confirmed compliance for the year[74] - The company has implemented the principles of the corporate governance code and complied with its provisions for the year ended March 31, 2023[73] - The company has established a governance framework to balance the interests of shareholders, customers, and employees[73] Risk Management - The company has engaged an independent internal control consultant to review its risk management and internal control systems[117] - The risk management policy clearly defines roles and responsibilities, as well as review procedures for risk management and internal controls[133] - The company has established a risk register to document identified risks and related control measures[138] - The board is responsible for overseeing the effectiveness of the risk management and internal control systems and conducts annual reviews[134] Employee and Operational Efficiency - The total employee cost for the year ended March 31, 2023, was approximately HKD 38 million, a substantial decrease from HKD 133.9 million for the year ended March 31, 2022, reflecting a reduction in workforce from 427 to 137 employees[49] - The company reported a significant increase in project management efficiency, with a 20% improvement in project completion times compared to the previous year[60] - The group has implemented several measures to safeguard employee health amid the ongoing impact of COVID-19, including remote work arrangements and provision of personal protective equipment[142] Customer and Market Insights - User data indicates a growth in client base, with a 15% increase in new contracts signed in the last quarter[60] - The company reported that its top five customers accounted for approximately 84% of total revenue for the fiscal year ending March 31, 2023[188] - The largest customer contributed about 65% of total revenue, while the largest supplier accounted for approximately 26% of total procurement[188] Environmental and Technological Initiatives - The company has invested $5 million in research and development for sustainable building materials, aiming for a 30% reduction in carbon footprint by 2025[60] - The company has implemented an environmental management system compliant with ISO 14001:2015 and an occupational health and safety management system compliant with OHSAS 18001:2007 to mitigate risks associated with construction activities[139] - The company has introduced innovative technologies such as the "viAct" safety monitoring platform and smart helmets with sensors and GPS to improve health and safety on construction sites[139]
常满控股(08523) - 2023 - 年度财报