Financial Performance - The group's revenue for the year ended March 31, 2023, was approximately HKD 227.6 million, an increase of about HKD 48.0 million or 26.7% compared to approximately HKD 179.6 million for the year ended March 31, 2022[10]. - The net profit for the year ended March 31, 2023, was approximately HKD 16.4 million, compared to a net loss of approximately HKD 8.8 million for the previous year[11]. - Other income for the year ended March 31, 2023, was approximately HKD 6.0 million, up from HKD 5.6 million in the previous year, primarily due to increased government subsidies[24]. - Employee costs for the year ended March 31, 2023, were approximately HKD 80.3 million, an increase from HKD 69.3 million in the previous year, attributed to fewer temporary closures of medical beauty centers[25]. - The total equity of the company as of March 31, 2023, was approximately HKD 19.5 million, compared to HKD 3.1 million in the previous year[34]. - The company reported a revenue from its top five customers of less than 1.42% for the year ending March 31, 2023, compared to 2.5% in 2022[83]. - The largest supplier accounted for approximately 13.4% of the total procurement for the year ending March 31, 2023, down from 31.3% in 2022[83]. - Total procurement from the top five suppliers represented about 46.5% of the company's total procurement for the year ending March 31, 2023, compared to 63.1% in 2022[83]. Revenue Growth Factors - The significant revenue increase was attributed to fewer days of mandatory closure for medical beauty centers and improved consumer sentiment due to the containment of COVID-19[15]. - The government’s consumption voucher scheme and the company's ongoing marketing efforts also contributed to the substantial revenue growth[15]. - The company plans to continue expanding its operations by opening new centers to capture growing customer demand[19]. - The company will monitor market conditions closely and develop sustainable strategies to seize opportunities in the current environment[20]. Strategic Plans and Outlook - The company remains optimistic about the industry outlook and plans to continue strategic business expansion and effective marketing activities to achieve sustained growth[15]. - The company will assess development opportunities to strengthen its competitive advantage and consolidate its leading position in the industry[15]. - The company intends to expand the range of services offered by acquiring new treatment equipment and consumables[15]. Shareholder and Governance Matters - The company has no distributable reserves available for shareholders as of March 31, 2023, consistent with the previous year[81]. - The board does not recommend the payment of a final dividend for the year ending March 31, 2023[76]. - The company has a significant shareholder structure, with both Mr. Ye and Ms. Fu holding 514,500,000 shares each, representing 64.31% of the total shares post-offering[92]. - Equal Joy, a major shareholder, is jointly owned by Mr. Ye and Ms. Fu, each holding a 50% stake[93]. - The company aims to attract and retain qualified individuals through its share option plan to enhance contributions to the group's interests[101]. - The board of directors includes Mr. Ye as the chairman and Ms. Fu as the CEO, with independent non-executive directors ensuring governance[91]. - The company has received annual confirmations from independent non-executive directors regarding their independence[92]. - The company has established a stock option plan with a maximum issuance of shares not exceeding 1% of the total issued shares within any 12-month period[104]. Risk Management and Compliance - The company has identified various risks that could adversely affect its financial condition and operational performance, including economic and political instability in Hong Kong[71]. - The company is committed to complying with applicable environmental laws and minimizing negative impacts on the environment[72]. - The company has established risk management procedures and guidelines to identify potential risks affecting business operations[176]. - An independent internal control consultant has been appointed to review the effectiveness of the internal control system annually[177]. - The board believes that the risk management and internal control systems are effective and sufficient as of March 31, 2023[178]. Employee and Operational Matters - As of March 31, 2023, the group had a total of 201 employees, an increase from 159 employees in 2022[36]. - The company made charitable donations of approximately HKD 63,000 for the year, an increase from HKD 19,000 in 2022[85]. - The company has maintained good relationships with employees, customers, and suppliers, with no significant disputes reported for the year ending March 31, 2023[74]. Financial Position and Assets - The debt-to-equity ratio as of March 31, 2023, was 340.37%, a significant decrease from 3,015.17% in 2022, primarily due to an increase in the group's net asset value[39]. - The group had approximately HKD 14.4 million in secured and unsecured bank borrowings as of March 31, 2023, compared to approximately HKD 14.3 million in 2022[45]. - The company purchased property, plant, and equipment amounting to approximately HKD 32.2 million for the year ended March 31, 2023, down from HKD 45.7 million in the previous year[35]. - The group incurred lease property renovation expenses of approximately HKD 1,530,000 as of March 31, 2023, slightly down from HKD 1,548,000 in 2022[42]. - The company announced the sale of its wholly-owned subsidiary, Maosheng Limited, for a consideration of HKD 23,000,000, with a cash payment of HKD 2,000,000 due at signing[47]. Corporate Governance and Board Activities - The audit committee reviewed the audited consolidated financial statements for the year ended March 31, 2023, ensuring compliance with applicable accounting standards and GEM listing rules[132]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules[141]. - The company has adopted the corporate governance code as per GEM listing rules and has complied with all applicable provisions during the year[137]. - The company’s independent non-executive directors have confirmed their independence in accordance with GEM listing rules[148]. - The company has not entered into any stock-linked agreements during the year[127]. - The board regularly reviews and manages its capital structure to ensure optimal capital structure and shareholder returns, considering various factors including financial performance and capital needs[199].
亮晴控股(08603) - 2023 - 年度财报