Financial Performance - The group's profit attributable to shareholders for the year ended March 31, 2022, was approximately HKD 20.78 million, a decrease of 27.11% compared to HKD 28.51 million for the previous year[6]. - Revenue increased from approximately HKD 305.16 million for the year ended March 31, 2021, to approximately HKD 405.17 million during the reporting period[7]. - Normalized profit for the reporting period was approximately HKD 33.06 million, an increase of about HKD 28.51 million or 15.95% year-on-year[15]. - The company's gross profit increased by approximately HKD 13.10 million or 23.50% to about HKD 68.84 million, with a stable gross margin between 17.00% and 18.27%[19]. - Installation service revenue was approximately HKD 306.90 million, contributing to the overall revenue growth[17]. - The company's total equity attributable to owners was approximately HKD 152.75 million as of March 31, 2022, compared to HKD 143.37 million in 2021[28]. - The debt-to-equity ratio as of March 31, 2022, was approximately 9.59%, up from 4.92% in 2021[30]. Dividends - The board declared a final dividend of HKD 0.50 per share, bringing the total dividend for the fiscal year to HKD 0.85 per share, consistent with the previous fiscal year[7]. - The company proposed a final dividend of HKD 0.50 per share, down from HKD 0.60 per share in the previous year, pending shareholder approval[15]. - The interim dividend of HK$0.35 per share was approved on November 8, 2021, and HK$4.2 million was paid on December 3, 2021[41]. - The proposed final dividend is expected to be distributed around September 13, 2022, to shareholders on the register as of August 23, 2022[41]. - The board has adopted a revised dividend policy effective from May 17, 2022, stating that the annual dividend distributed to shareholders will not be less than 30% of the group's consolidated net profit for any financial year under normal circumstances[186]. Business Strategy and Outlook - The board is optimistic about future performance due to the anticipated benefits from the proposed transfer of listing from GEM to the main board, which is expected to provide more funding channels[11]. - The group has initiated three large-scale projects with a total initial contract value of approximately HKD 113.12 million, indicating a sustainable business pipeline[11]. - The group plans to invest significantly in resources to complete the ongoing projects during the 2022-2023 fiscal year, aiming to deliver substantial returns to shareholders[11]. - The group is positioned to benefit from upcoming government policies aimed at increasing land and housing supply, which aligns with its past project successes[10]. - The company emphasizes its commitment to sustainable development, integrating environmental, social, and governance (ESG) matters into its core business strategy[197]. Corporate Governance - The board emphasizes the importance of sound corporate governance for the long-term sustainable development of the group[137]. - The company has complied with the corporate governance code principles and applicable provisions during the reporting period, with some exceptions noted[138]. - The roles of the chairman and CEO are held by the same individual, Mr. Pan Zhengqiang, which the board believes is in the best interest of the group[139]. - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced skill set and experience[145]. - The company has established various committees to delegate responsibilities and enhance governance practices[142]. Risk Management - The board is responsible for evaluating the nature and extent of risks acceptable in achieving strategic objectives, ensuring effective risk management and internal control systems are in place[180]. - The group has established a risk management framework that includes policies and procedures for identifying, assessing, managing, monitoring, and reporting risks, including strategic, credit, operational, market, liquidity, legal, and regulatory risks[181]. - An independent professional was engaged to assess the overall risk management system and internal controls, with no significant deficiencies identified[183]. - The internal audit function is responsible for monitoring the group's governance and ensuring the effectiveness of risk management and internal control systems[181]. Human Resources - The company emphasizes the importance of human resources for its success and aims to hire qualified and experienced personnel to review and restructure existing businesses and explore potential investment opportunities[44]. - The remuneration policy is designed to maintain competitive levels and provide discretionary bonuses based on performance, in line with industry practices[45]. - As of March 31, 2022, the group had a total of 137 employees, up from 126 in 2021, with employee costs in Hong Kong amounting to approximately HK$15.97 million, compared to HK$11.76 million in 2021[44]. - The company has established a competitive compensation scheme to attract and retain suitable personnel, along with an annual review system for employee performance[88]. Environmental and Social Responsibility - The company has implemented an environmental management system and obtained ISO 14001:2004 certification to comply with applicable environmental protection laws[94]. - There were no recorded violations of applicable environmental regulations that resulted in prosecution or fines during the reporting period[95]. - The company has established an ESG working group to systematically manage ESG matters, which collects relevant data and reports to the board[198]. Shareholder Communication - The company has multiple channels for communication with shareholders and investors, including annual general meetings and a dedicated website[193]. - The board is unaware of any significant uncertainties that may cast doubt on the group's ability to continue as a going concern as of March 31, 2022[185].
荧德控股(08535) - 2022 - 年度财报