Financial Performance - The company's profit decreased by approximately HKD 3,600,000 or 7.6% year-on-year, totaling around HKD 43,700,000[5] - Income tax expenses decreased by approximately HKD 1,300,000 or 12.4% to about HKD 9,200,000, attributed to a reduction in pre-tax profit[17] - The profit for the year decreased by approximately HKD 3.6 million or 7.6%, from approximately HKD 47.3 million in the previous year to approximately HKD 43.7 million[71] Expenses and Costs - Administrative expenses increased by approximately HKD 6,300,000 or 25.8% to about HKD 30,700,000, primarily due to higher legal and professional fees[16] - The group faced increased employee cost pressures due to a shortage of IT professionals in Hong Kong, impacting profitability[94] - As of March 31, 2023, employee costs including performance-related bonuses and director remuneration amounted to approximately HKD 58.8 million, an increase from HKD 56.6 million in the previous year[49] Debt and Liquidity - The group's net debt decreased from approximately HKD 63,100,000 to about HKD 42,100,000, with cash and cash equivalents increasing by 65.7% to approximately HKD 28,500,000[18] - The company has sufficient liquidity to meet its current and future operational funding needs[19] Capital Expenditures - Capital expenditures for property and equipment amounted to HKD 14,900,000, a significant increase from HKD 2,500,000 in the previous year[46] Corporate Governance - The board of directors confirmed compliance with the corporate governance code from the date of listing to the report date, ensuring adherence to established standards[84] - The company has adopted the corporate governance code as a basis for its governance practices[108] - The audit committee is composed of three independent non-executive directors, ensuring compliance with the listing rules and financial management standards[153] Employee Relations and Development - The company emphasizes the importance of employee development and has adopted a new share option plan to recognize and incentivize eligible participants, including employees[52] - The company has conducted training courses for all directors covering various relevant topics, including corporate governance and regulatory updates[123] Shareholder and Market Information - The company successfully listed on the Hong Kong Stock Exchange on September 26, 2022, marking a significant milestone[8] - The company's distributable reserves as of March 31, 2023, were approximately HKD 118.1 million, compared to HKD 78.4 million in the previous year, indicating a significant increase of 50.1%[62] Risk Management and Compliance - The company has effective risk management and internal control systems, which have been reviewed and deemed sufficient[194] - The company has established a whistleblowing policy for employees and others to report concerns about any potential misconduct anonymously[175] Customer and Supplier Relationships - The largest customer accounted for 20.8% of the total revenue, while the top five customers represented 46.8% of the total revenue[178] - The largest supplier accounted for 38.4% of the total procurement, and the top five suppliers made up 56.5% of the total procurement[178] Future Plans and Strategy - The company remains confident in addressing challenges and adapting to rapid technological changes while focusing on sustainable growth and profitability[6] - The company plans to continue enhancing competitiveness, exploring new markets, and strengthening core business areas[6] Board Structure and Independence - The board consists of seven directors, including two executive directors, one non-executive director, and four independent non-executive directors[139] - The nomination committee regularly reviews the board's structure and composition to ensure diversity and alignment with the company's strategic goals[160] Legal and Regulatory Matters - As of March 31, 2023, the company had no pending legal cases that could significantly adversely affect its business or operations[169] - The company has not engaged in any related party transactions or continuous related party transactions during the year[179] Share Option Scheme - The new share option scheme allows for a maximum of 62.5 million shares to be granted, representing 10% of the total issued shares as of the date of shareholder approval[65] - The company has a total of 62,500,000 shares available for issuance under the new share option plan, representing 10% of the total issued shares as of the report date[186]
数科集团(02350) - 2023 - 年度财报