Financial Performance - The audited revenue for the year ended March 31, 2022, was HKD 4,272,884, compared to HKD 5,236,876 for the previous year, representing a decrease of approximately 18.4%[4] - The gross profit for the year was HKD 89,272, an increase from HKD 80,594 in the previous year, indicating a growth of about 10.9%[4] - The operating profit increased to HKD 33,502 from HKD 23,632, reflecting a growth of approximately 41.5%[4] - The net loss for the year was HKD 15,417, compared to a profit of HKD 5,107 in the previous year, marking a significant decline[4] - Total revenue for the year 2022 was HKD 4,272,884 thousand, a decrease of 18.4% from HKD 5,236,876 thousand in 2021[37] - The company reported a total of HKD 1,301 thousand in profit before interest and tax for the year ending March 31, 2022[43] - The group reported a net loss of HKD 13,566 thousand for 2022, contrasting with a profit of HKD 7,216 thousand in 2021[56] - Basic and diluted loss per share for 2022 was HKD (1.92), compared to earnings of HKD 1.16 per share in 2021[56] - The company recorded total revenue of approximately HKD 4,273 million for the fiscal year ending March 31, 2022, down from approximately HKD 5,237 million in the previous fiscal year, representing a decrease of about 18.4%[63] - Gross profit increased by approximately HKD 8.7 million, rising from about HKD 80.6 million in the previous fiscal year to approximately HKD 89.3 million in the current fiscal year[63] - The annual loss attributable to the company's owners was HKD 13,566, an increase of HKD 12,233 from the previous year[110] Assets and Liabilities - Total assets as of March 31, 2022, were HKD 871,950, up from HKD 851,185 in the previous year, showing an increase of about 2.3%[9] - Current assets increased to HKD 704,997 from HKD 705,696, indicating a slight decrease of approximately 0.1%[9] - The total equity attributable to the owners of the company rose to HKD 177,473 from HKD 154,159, representing an increase of about 15.1%[15] - Total assets for 2022 amounted to HKD 880,680 thousand, up from HKD 858,846 thousand in 2021, indicating a growth of 2.0%[45] - Total liabilities slightly increased to HKD 707,162 thousand in 2022 from HKD 706,791 thousand in 2021, showing a marginal rise of 0.1%[45] - The total current assets amounted to HKD 871,950, down HKD 15,483 from the audited figures[113] - The total liabilities were reported at HKD 704,997, a decrease of HKD 3,250 compared to the audited results[113] Cash Flow and Debt - As of March 31, 2022, the total amount owed to Mr. Huang by the group was approximately HKD 218,878,000, with related interest of approximately HKD 14,879,000, while cash and cash equivalents were only about HKD 132,908,000[24] - The group has not made any repayments to Mr. Huang after March 31, 2022, indicating significant uncertainty regarding the group's ability to continue as a going concern and meet its liabilities[25] - The board has prepared a cash flow forecast for the 18 months ending September 30, 2023, estimating sufficient working capital, assuming an agreement can be reached to defer the loan repayment to Mr. Huang[26] - The group paid HKD 50,000,000 to Mr. Huang on March 31, 2022, which included approximately HKD 25,869,000 for overdue interest and approximately HKD 24,131,000 for principal repayment[24] - The total outstanding principal amount owed to Mr. Huang and Magic Choice as of September 30, 2021, was approximately HKD 243 million, including any accrued interest[23] - The group has not made any repayments to Mr. Huang or related interest since March 31, 2022, raising concerns about its ability to operate normally[25] - The total amount owed to Mr. Huang, including principal and interest, was approximately HKD 243 million as of September 30, 2021[126] - The group has not reached any deferral agreement regarding the loan owed to Mr. Huang as of the report date, creating uncertainty about the going concern basis of the financial statements[130] Revenue Segmentation - Revenue from property maintenance increased to HKD 687,308 thousand in 2022, up 7.4% from HKD 639,764 thousand in 2021[37] - Revenue from material trading significantly decreased to HKD 3,019,179 thousand in 2022, down 27.1% from HKD 4,137,996 thousand in 2021[37] - The external customer revenue for the construction and related businesses was HKD 274,115 thousand in 2022, up from HKD 173,133 thousand in 2021[43] - The building construction segment's revenue increased from approximately HKD 173 million in the previous fiscal year to about HKD 274 million in the current fiscal year, an increase of approximately 58.9%[66] - The renovation and improvement segment's revenue was approximately HKD 292 million, slightly up from HKD 286 million in the previous fiscal year[69] - The property maintenance segment's revenue rose from approximately HKD 640 million to about HKD 687 million, with profit increasing from approximately HKD 53.7 million to about HKD 97.7 million[70] - The material trading segment's revenue was approximately HKD 3,019 million, down from HKD 4,138 million in the previous fiscal year, a decrease of about 27.1%[71] Operational Challenges - The company faced challenges in the construction segment due to COVID-19, leading to increased project costs and a rise in segment losses[67] - The construction materials costs have increased by approximately 20% to 30%, particularly for steel, concrete, and aluminum, impacting profit margins[76] - The company is actively managing costs and expenditures while advancing all project timelines amid ongoing supply chain disruptions[76] - The construction segment is labor-intensive, and significant increases in labor costs could adversely affect profitability[89] - The trade division has relatively low gross margins, making it vulnerable to significant impairments in receivables and fluctuations in transaction prices and exchange rates[91] Corporate Governance and Compliance - The company has engaged internal control consultants to review its internal control systems and established a risk management committee to assist the board in ongoing monitoring[105] - The audit committee has reviewed the accounting policies and practices adopted by the group, including the ongoing concern basis and related assumptions[135] Future Outlook - The company plans to continue focusing on market expansion and new product development strategies[40] - The company aims to establish a modern supply chain management platform for iron ore blending, ensuring stable raw material supply for steel enterprises[81] - The iron ore market size has reached RMB 500 billion, with a positive development trend driven by national infrastructure projects and recovering downstream demand[80] - The company plans to diversify and develop its trading business in 2022, continuing to generate revenue and profit contributions[81]
绿色经济(01315) - 2022 Q4 - 年度财报