Financial Performance - The company reported a revenue of approximately HKD 36.5 million for the fiscal year, a decrease of about 3.9% compared to HKD 38.0 million in the previous fiscal year[17]. - The sales of health products reached approximately HKD 1.6 million, representing a significant increase of about 497.1% from HKD 0.3 million in the previous fiscal year[14]. - The gross profit margin decreased from approximately 48.7% in the previous fiscal year to about 31.9% in the current year, primarily due to reduced revenue from the publishing segment and increased direct costs in environmental consulting services[20]. - The environmental consulting services segment contributed approximately HKD 34.7 million in revenue, remaining stable compared to the previous fiscal year[24]. - The group recorded a sales cost of approximately HKD 24.8 million for the year, representing a year-on-year increase of about 27.4% compared to HKD 19.5 million in the 2022 fiscal year[29]. - Gross profit decreased from approximately HKD 18.5 million in the 2022 fiscal year to HKD 11.6 million this year, a decline of about 37.0%[30]. - The group reported a loss of approximately HKD 332.9 million for the year, an improvement from a loss of HKD 378.5 million in the 2022 fiscal year[31]. - The asset-liability ratio increased to approximately 147.2%, up from 97.6% as of March 31, 2022, primarily due to a significant reduction in current assets[40]. - The group recognized an expected credit loss provision of approximately HKD 265.4 million for the year, reflecting impairment losses on receivables and deposits[41]. - The group recorded a significant decrease in total assets, approximately HKD 713.3 million as of March 31, 2023, down from HKD 1,085.0 million as of March 31, 2022, representing a decline of about 34.3%[50]. Cost Management and Expenses - The financial costs for the company were approximately HKD 49.3 million, a decrease of about 6.1% from HKD 52.5 million in the previous fiscal year, mainly due to exchange rate differences[21]. - Administrative expenses decreased by approximately 31.5% from HKD 44.9 million in the 2022 fiscal year to HKD 30.8 million this year[41]. - Cost-saving measures implemented due to a challenging business environment have led to a reduction in administrative expenses and improved loss conditions[31]. Strategic Initiatives and Future Plans - The company plans to increase resource investment in environmental consulting services, green mining restoration, and ecological protection to drive business growth in the upcoming fiscal year[9]. - The company is exploring new opportunities in the health product sales market, particularly targeting the younger generation with functional snacks and dietary supplements[14]. - The group anticipates continued growth in demand for its environmental consulting services due to increased public awareness and policy support for environmental initiatives[32]. - The group is considering expanding procurement from new overseas jurisdictions, such as the United States, and introducing new products like Japanese natto kinase supplements[32]. - The group is actively exploring ecological and environmental projects in regions such as Shandong, Shanxi, Shaanxi, and Hainan through government guidance and market operations[32]. - The group aims to enhance its revenue drivers and overall financial performance by focusing on strategic emerging industries such as renewable energy and biomedical sectors in the upcoming year[46]. Legal and Compliance Matters - The company is actively pursuing legal actions against downstream distributors to recover outstanding receivables as part of its efforts to maintain liquidity and financial stability[26]. - The group has recognized expected credit loss provisions for the year, particularly related to other receivables and deposits from borrowers/guarantors in the suspended financial services business[51]. - The group is actively pursuing legal actions to recover outstanding amounts from borrowers/guarantors in China[50]. Governance and Board Structure - The board consists of eight directors, including three executive directors and three independent non-executive directors, with no changes in composition during the year[143]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee to oversee specific areas of governance[142]. - The company emphasizes the importance of independent non-executive directors in providing independent opinions and contributions to the board[144]. - The board believes that the current ratio of executive to non-executive directors is reasonable and sufficient to safeguard the interests of shareholders and the company[154]. - The company has taken corrective actions to address governance code deficiencies, including ensuring the separation of roles between the chairman and the CEO[145]. - The nomination committee reviewed the board's structure, size, and diversity during the year, assessing the independence of non-executive directors[173]. Employee and Workplace Culture - The company emphasizes a culture of employee development, workplace safety, and sustainable growth strategies[85]. - The company employed approximately 73 employees, a decrease from 99 employees as of March 31, 2022[126]. - Over 90% of the employees are full-time, with more than 60% aged between 31 and 50 years, indicating a commitment to retaining junior staff[197]. - The company aims to achieve gender diversity and equality in its senior management team within the next two years[197]. - The management team is committed to attracting and retaining top talent to build a strong and efficient workforce[85]. Shareholder Communication and Dividends - The board does not recommend any final dividend for the current year, consistent with the previous fiscal year[47]. - The company has not changed its shareholder communication policy, which allows for unimpeded communication of shareholder opinions to the board[163]. - The company will not distribute the final dividend for the fiscal year 2022 and the interim dividend for the current year[195].
大地国际集团(08130) - 2023 - 年度财报