Financial Performance - The group's revenue increased from approximately HKD 951.2 million for the year ended March 31, 2021, to approximately HKD 1,063.9 million for the current year, primarily due to increased revenue from RMAA services[7]. - The profit attributable to shareholders decreased from approximately HKD 34.1 million to approximately HKD 13.3 million, mainly due to a decline in overall gross margin caused by rising raw material costs and significant losses on financial assets due to market downturns[7]. - The gross profit decreased from approximately HKD 60.5 million to approximately HKD 54.7 million, with the gross margin dropping from about 6.4% to approximately 5.1%[16]. - Service costs rose from approximately HKD 890.7 million to approximately HKD 1,009.2 million, consistent with the increase in revenue, primarily due to higher service costs associated with RMAA projects[15]. - Other income and losses shifted from a gain of approximately HKD 6.8 million to a loss of approximately HKD 12.2 million, mainly due to the absence of government subsidies and significant losses on financial assets[17]. - Administrative expenses decreased from approximately HKD 24.1 million to approximately HKD 21.5 million, primarily due to reduced employee costs[18]. - The financing cost for the year was approximately HKD 0.2 million, remaining consistent with the previous year[20]. - The effective tax rate for the year was approximately 16.9%, similar to the previous year's rate of 16.8%[21]. - The company did not recommend any final dividend for the year ended March 31, 2022[23]. Cash and Debt Management - As of March 31, 2022, the company's bank balances and cash amounted to approximately HKD 57.6 million, a decrease from HKD 61.8 million in the previous year[24]. - The total interest-bearing borrowings as of March 31, 2022, were approximately HKD 4.0 million, down from HKD 7.3 million in the previous year, resulting in a current ratio of about 3.5 compared to 3.8 in the prior year[24]. - The debt-to-equity ratio as of March 31, 2022, was approximately 1.7%, a decrease from 3.3% in the previous year, due to the repayment of bank loans[25]. Employee and Management Overview - The total employee cost for the year ending March 31, 2022, was approximately HKD 58.5 million, down from HKD 73.6 million in the previous year, with a total of 240 employees compared to 289 in the prior year[37]. - Liu Jiahao was appointed as the executive director on February 25, 2021, and as the company secretary on September 3, 2021, bringing over 15 years of experience in corporate management and financing[45]. - The company has a strong management team with members holding various professional qualifications and extensive experience in their respective fields, including construction and finance[46][48][49][50]. - The management team has a combined experience of over 30 years in the construction industry, which is expected to drive project execution and operational efficiency[48][54]. Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules, ensuring transparency and accountability[58]. - The board of directors is composed of experienced professionals who are dedicated to guiding the company towards sustainable growth and profitability[50]. - The audit committee held three meetings during the year to review the group's financial reporting process and internal control systems[66]. - The company emphasizes the importance of good corporate governance for effective management and successful business development[58]. - The board is responsible for corporate governance functions, including policy formulation and compliance with legal and regulatory requirements[96]. Environmental, Social, and Governance (ESG) Commitment - The environmental, social, and governance (ESG) report covers all subsidiaries in Hong Kong, with the core business primarily engaged in building services, accounting for approximately 99% of the total workforce[132]. - The company is committed to continuously evaluating its business impact on key ESG aspects and aims to enhance transparency through further disclosures in the future[132]. - The company aims to achieve sustainable development goals and has set relevant emission reduction targets and strategies[130]. - The company is committed to reducing its environmental impact and maintaining green operations and office practices[146]. Employee Health and Safety - The company emphasizes occupational health and safety, with policies in place to reduce risks associated with construction work[191]. - The company has received multiple awards for safety performance, including a silver award for best high-altitude work safety performance in 2019[191]. - The company has implemented internal policies for reporting and handling work-related accidents and injuries[194]. - The safety supervisor is responsible for regular visits and inspections of work performance[192].
德益控股(09900) - 2022 - 年度财报