Financial Performance - The group's revenue increased from approximately HKD 791 million for the year ended March 31, 2022, to approximately HKD 869 million for the year ended March 31, 2023, representing an increase of approximately HKD 78 million or 9.8%[24]. - Gross profit decreased from approximately HKD 260 million for the year ended March 31, 2022, to approximately HKD 245 million for the year ended March 31, 2023, a decline of approximately HKD 15 million or 5.6%[27]. - The group reported a net profit of approximately HKD 1.9 million for the year ended March 31, 2023, compared to a loss of approximately HKD 4.7 million for the year ended March 31, 2022[51]. - The company reported a total of 146 employees as of March 31, 2023, an increase from 141 employees in 2022[127]. - The company reported a net profit margin of 12% for the fiscal year 2023, an increase from 10% in the previous year[89]. Costs and Expenses - Service costs rose from approximately HKD 531 million for the year ended March 31, 2022, to approximately HKD 624 million for the year ended March 31, 2023, an increase of approximately HKD 93 million or 17.4%[26]. - The company reported that employee costs accounted for approximately 84.6% of total service costs for the year ended March 31, 2023, compared to 89.1% for the previous year[26]. - General and administrative expenses increased by approximately HKD 0.7 million or 3.4% to approximately HKD 22.1 million for the year ended March 31, 2023[38]. - The group employed a total of 143 employees as of March 31, 2023, with employee costs amounting to approximately HKD 59.8 million, up from approximately HKD 55.5 million in the previous year[59]. Business Strategy and Opportunities - The company aims to leverage existing resources to develop current and potential new business opportunities to further enhance profitability[20]. - The company will continue to explore new business opportunities to deliver substantial returns to shareholders[19]. - The increase in revenue was primarily due to structural and geotechnical engineering consulting services for new property construction, which rose by approximately HKD 14.6 million[33]. - The company plans to closely monitor the overall situation in Hong Kong and China to take necessary actions, including hiring qualified professionals or acquiring businesses, to provide more comprehensive services[20]. Investments and Acquisitions - The company has allocated HKD 4.6 million for acquisitions or investments in the construction and property development sector, with HKD 0.1 million utilized by March 31, 2023[63]. - The company has completed a strategic acquisition of a local competitor for HKD 300 million, which is expected to enhance its market position and operational capabilities[89]. - The company has invested approximately HKD 0.8 million in new computers and software for new employees as of March 31, 2023[62]. Risk Management and Compliance - The company has established a risk management and internal control system, which was deemed effective and adequate for the fiscal year ending March 31, 2022[165][176]. - The audit committee ensures the effectiveness of the first and second lines of defense in risk management through annual reviews with external professionals[195]. - The board is aware of its responsibilities under the Securities and Futures Ordinance and listing rules to promptly disclose any inside information[196]. Employee and Workplace Safety - The company provides safety equipment and maintains a safe working environment to prevent workplace accidents and injuries[129]. - The group recorded zero work-related injuries and zero days lost due to work-related incidents in 2023, maintaining a strong safety record[198]. - The group emphasizes strict compliance with safety regulations to achieve zero accidents, particularly on construction sites[200]. - The company has established emergency and evacuation procedures to respond effectively to major safety incidents[200]. Corporate Governance - The board of directors is responsible for corporate governance, including the development and review of governance policies and compliance with legal and regulatory requirements[161]. - The board's composition and structure are reviewed annually to ensure alignment with the company's corporate strategy[185]. - The company has adopted a nomination policy effective from August 27, 2018, to ensure the board has the necessary skills and diversity[145].
WAC HOLDINGS(08619) - 2023 - 年度财报