Financial Performance - The group's revenue for the fiscal year ending March 31, 2024, was approximately HKD 54.9 million, a decrease of 3.5% compared to HKD 56.9 million in the previous fiscal year[16]. - The after-tax profit for the fiscal year was approximately HKD 1.9 million, down from HKD 3.9 million in the previous fiscal year[16]. - Revenue for the fiscal year 2024 was approximately HKD 54.9 million, a decrease of about 3.5% from HKD 56.9 million in fiscal year 2023[21]. - The decline in revenue was primarily attributed to a decrease in trading volume in both over-the-counter and Hong Kong Stock Exchange transactions[22]. - The company recorded a profit of approximately HKD 1.9 million in fiscal year 2024, down from HKD 3.9 million in fiscal year 2023, primarily due to decreased revenue and increased operating expenses[30]. Revenue Breakdown - Revenue breakdown for fiscal year 2024 included HKD 50.175 million (91.4%) from Hong Kong Stock Exchange, HKD 4.206 million (7.7%) from over-the-counter transactions, and HKD 485,000 (0.9%) from Singapore Exchange[23]. - Other income increased from HKD 692,000 in fiscal year 2023 to approximately HKD 1.4 million in fiscal year 2024, representing a growth of about 102.3% due to increased bank interest income[25]. Cost Management - The company has focused on cost control while enhancing necessary technologies to provide tailored services to clients[16]. - Employee costs decreased from approximately HKD 36.5 million in fiscal year 2023 to about HKD 35.2 million in fiscal year 2024, a reduction of approximately 3.6%[26]. - Other operating expenses increased from approximately HKD 17.2 million in fiscal year 2023 to about HKD 17.4 million in fiscal year 2024, a rise of approximately 1.2%[28]. Financial Health - As of March 31, 2024, the current ratio was approximately 14.3, up from 10.1 in the previous year, indicating strong financial health[32]. - Cash and bank balances as of March 31, 2024, were approximately HKD 57.6 million, compared to HKD 54.6 million in the previous year, providing sufficient resources for operational needs[34]. - The company maintains a prudent financial policy regarding inventory management, ensuring a stable liquidity position throughout the fiscal year 2024[37]. Corporate Governance - The company is committed to maintaining high standards of governance and accountability through its independent directors and committees[60][66][70]. - The management team includes individuals with significant experience in finance, law, and corporate governance, enhancing the company's strategic direction[60][66][70]. - The company has implemented corporate governance principles in the fiscal year 2024, ensuring compliance with all relevant codes[82]. - The board of directors consists of four executive directors and three independent non-executive directors, meeting GEM listing rules requirements[85]. - The company emphasizes the importance of good corporate governance to maintain transparency and accountability[81]. Risk Management - The board acknowledges its responsibility for risk management and internal control systems, which are designed to manage risks rather than eliminate them, ensuring reasonable assurance against material misstatements or losses[122]. - The company has engaged an external professional firm to provide independent reviews of its risk management and internal control systems, with no significant control deficiencies identified in fiscal year 2024[123]. Employee Management - The company has a total of 27 employees as of March 31, 2024, an increase from 26 employees the previous year[47]. - Employee headcount increased from 26 in FY2023 to 27 in FY2024, with a turnover rate reduced from 15% to 8%[164]. - Average training hours per employee were 6 hours for males and 3 hours for females in FY2024, with 59% of males and 30% of females receiving training[165]. - The company provides competitive compensation and various benefits, including public holidays, annual leave, sick leave, maternity leave, and medical subsidies[168]. Environmental, Social, and Governance (ESG) - The ESG report outlines the company's policies and performance in sustainable development and corporate social responsibility for the period from April 1, 2023, to March 31, 2024[135]. - The total greenhouse gas emissions for the fiscal year 2024 were 41.20 tons of CO2 equivalent, a decrease of 9.0% from 45.73 tons in fiscal year 2023[151]. - The company has identified 10 key ESG-related issues, including environmental compliance and employee compensation and benefits[149]. - The company has set long-term goals to reduce greenhouse gas emissions and promote sustainable practices among employees[151]. Shareholder Communication - The company has established a shareholder communication policy to ensure effective communication with shareholders, which is regularly reviewed for effectiveness[128]. - The company will provide detailed answers to inquiries and requests during the annual general meeting, with board members and senior staff present to address shareholder questions[129]. - Shareholders holding at least 10% of the company's paid-up capital have the right to request a special general meeting within two months if the board does not convene within 21 days of the request[130].
衍汇亚洲(08210) - 2024 - 年度业绩