Financial Performance - The group's revenue for the year ended March 31, 2022, was approximately HKD 179.6 million, an increase of about HKD 97.5 million or 118.8% compared to approximately HKD 82.1 million for the year ended March 31, 2021[14]. - The net loss for the year ended March 31, 2022, was approximately HKD 8.8 million, compared to a net loss of approximately HKD 27.0 million in the previous year[14]. - The significant revenue increase was primarily due to the opening of a new flagship center in Mong Kok in May 2021 and improved consumer sentiment as the COVID-19 pandemic situation was brought under control[25]. - The company reported a net loss of approximately HKD 8.8 million for the year, a decrease from a net loss of HKD 27.0 million in the previous year, attributed to the substantial increase in revenue[37]. - The company aims to maximize shareholder value by leveraging its solid customer base and good reputation to drive steady business growth[24]. Dividend Policy - The company did not recommend the distribution of a final dividend for the year ended March 31, 2022, consistent with no dividend in the previous year[14]. - The board does not recommend the payment of a final dividend for the year ended March 31, 2022[87]. - The company did not recommend any dividend payment for the year ended March 31, 2022, consistent with the previous year[38]. Operational Impact of COVID-19 - The COVID-19 pandemic significantly impacted the business environment in Hong Kong, leading to the closure of medical beauty centers from January to April 2022 due to government measures[17]. - The economic difficulties caused by the pandemic weakened customer willingness to undergo medical beauty treatments, negatively affecting the company's revenue over the past few years[17]. - The company is closely monitoring the impact of the COVID-19 pandemic on its financial condition and operational performance[155]. Business Operations - The company operates medical beauty centers under the "per Face" brand, providing non-surgical medical beauty services[17]. - The company aims to provide comprehensive treatment solutions to help customers maintain and improve their skin conditions and appearance[17]. - The company opened new centers in Mong Kok and Tsim Sha Tsui to expand its operational scale and enhance market penetration[22]. Financial Position - As of March 31, 2022, the total equity of the group was approximately HKD 3.1 million, a decrease from HKD 11.9 million in 2021[41]. - The group's bank balances and cash as of March 31, 2022, were approximately HKD 1.6 million, down from HKD 39.4 million in 2021[41]. - The total outstanding debt of the group as of March 31, 2022, was HKD 94.5 million, compared to HKD 111.9 million in 2021[41]. - The group had a debt-to-equity ratio of 3,015.17% as of March 31, 2022, up from 940.1% in 2021, primarily due to a decrease in net asset value[46]. Governance and Compliance - The board of directors confirmed that the information provided in the announcement is accurate and complete, with no misleading or fraudulent elements[2]. - The company has adopted the corporate governance code as per GEM listing rules and has complied with all applicable provisions during the year[163]. - The audit committee has reviewed the audited consolidated financial statements for the year ending March 31, 2022, ensuring compliance with applicable accounting standards[156]. - The company ensures that all directors receive timely and comprehensive information to fulfill their responsibilities effectively[181]. Risks and Uncertainties - The company identified significant risks including potential regulatory changes in the medical beauty services sector that could increase operational costs and reduce profit margins[79]. - The company has experienced various risks and uncertainties that could impact its financial condition and operational performance[78]. - The company’s operations and demand for medical beauty services are significantly influenced by the economic, social, and political conditions in Hong Kong[82]. Share Option Scheme - The share option scheme aims to attract, retain, and reward eligible individuals contributing to the group[117]. - The total number of securities that can be issued under the share option plan is 80,000,000 shares, accounting for 10% of the total issued shares as of the annual report date[119]. - The maximum number of shares that can be issued due to the exercise of share options in any 12-month period is limited to 1% of the issued shares, unless approved by shareholders[121]. - Each eligible person must pay a nominal amount of HKD 1.00 when accepting the offer[124]. Employee Relations - The company has maintained good relationships with employees, customers, and suppliers, with no significant disputes reported as of March 31, 2022[85]. - Employee costs increased to approximately HKD 69.3 million from HKD 41.0 million, mainly due to reduced temporary closures of medical beauty centers and the opening of the new flagship center[29]. Charitable Contributions - Charitable donations made by the group amounted to approximately HKD 19,000 for the year, down from HKD 29,000 in 2021[97].
亮晴控股(08603) - 2022 Q4 - 年度财报