Contracts and Revenue - In FY 2022, Chi Kan Holdings Limited was awarded 16 new contracts with an aggregate contract sum of approximately HK$1,112.0 million[24]. - As of March 31, 2022, the company had a total of 32 contracts on hand, an increase from 28 contracts as of March 31, 2021[24]. - The amount of contract sum yet to be recognized as of March 31, 2022, was approximately HK$1,376.1 million, slightly down from HK$1,381.6 million as of March 31, 2021[24]. - The Group's consolidated revenue for FY2022 was approximately HK$1,574.3 million, a significant increase from approximately HK$826.2 million in FY2021, primarily driven by construction projects and E-Commerce revenue[32]. - The construction business contributed approximately HK$1,133.2 million to the revenue, with 32 projects on hand as of March 31, 2022, compared to 28 projects in FY2021[32]. - E-Commerce business generated approximately HK$441.2 million in revenue during FY2022, reflecting the Group's strategic positioning in private E-Commerce platforms[32]. E-Commerce Business - The company has been engaged in E-Commerce business since March 2021, cooperating with over 40 suppliers and offering 500 types of products[25]. - The company aims to achieve sustainable and rapid development in its online retail business by providing high-quality and diversified products[25]. - The Group has engaged with over 40 suppliers and brand merchants, offering over 500 types of products in its E-Commerce business, focusing on high-quality and diversified offerings[31]. - The Group holds a 51% equity interest in CK Baiyin, which operates in the E-Commerce sector, enhancing its market presence in the PRC[30]. - The Group plans to expand technical platforms and increase product types to enhance its market share in the E-Commerce business in China[60]. Financial Performance - Gross profit for FY2022 was approximately HK$322.4 million, with a gross profit margin of approximately 20.5%, up from 7.3% in FY2021, indicating improved profitability[32]. - Selling and administrative expenses increased significantly to approximately HK$245.8 million in FY2022, up from approximately HK$26.9 million in FY2021, mainly due to higher operating expenses in the E-Commerce segment[35]. - Profit attributable to the owners of the Company decreased to approximately HK$38.8 million, representing a decline of 9.4% from approximately HK$42.8 million in the previous year[35]. - The adjusted profit for the year, excluding non-recurring expenses, was approximately HK$38.8 million, an increase of about 6.0% compared to approximately HK$36.3 million in FY2021[35]. Challenges and Risks - The COVID-19 pandemic has posed unprecedented challenges, but the company remains hopeful for economic recovery due to vaccine developments[27]. - The outbreak of COVID-19 in Hong Kong may significantly and adversely impact the Group's business operation and financial performance due to unfavorable economic conditions and decreased purchasing power[38]. - Health safety risks during COVID-19 may lead to labor shortages, increased wages, and interruptions in business operations, delaying project progress[38]. - The Group's revenue is non-recurring, and failure to secure new projects would materially and adversely affect its business, results of operations, financial position, and future prospects[36]. - There is no assurance that the Group will be able to retain major customers or secure new projects, which could adversely affect its financial performance[36]. Management and Governance - The management team is stable and experienced, contributing to high-quality work and customer satisfaction[45]. - The Group's management team includes professionals with extensive experience in their respective fields, enhancing operational effectiveness[72]. - The Company is focused on strategic planning and business development, with oversight of daily operations by the executive team[64]. - The board includes a mix of executive and independent non-executive directors, enhancing governance and oversight[66]. - The Company has adopted the Corporate Governance Code and complied with all applicable provisions except for the separation of the roles of chairman and chief executive[119]. Environmental, Social, and Governance (ESG) - The Group is committed to quantifying and disclosing key performance indicators within environmental and social categories[173]. - The Group emphasizes the importance of sustainability as a critical element for maintaining its leading position in the industry and positively contributing to community development[175]. - The Group prioritizes community involvement and social responsibilities as part of its corporate strategy[181]. - The Group aims to improve its environmental practices continually through employee training and operational measures[190]. - The Group's ESG performance and corporate governance details are available on its website for stakeholder feedback[183]. Shareholder Relations - The annual shareholders' meetings serve as the primary forum for communication between the Company and its shareholders[165]. - The Company encourages shareholders to participate in general meetings and appoint proxies to attend[163]. - The Group's annual general meeting serves as a platform for reporting overall business performance to investors[176]. - The Company has established written guidelines for relevant employees regarding their dealings in the securities of the Company, with no incidents of non-compliance noted since the Listing[120]. Financial Position and Liquidity - The Group's liquidity position is closely monitored by directors and senior management to meet funding needs[50]. - The Group's cash inflows mainly comprise progress payments from customers, which are paid after the works have commenced and the value is confirmed[39]. - The Group expects to fund future cash flow needs through internally generated cash flows from operations and bank facilities[55]. - The Group's capital structure consisted of equity of approximately HK$403.6 million and debts of approximately HK$16.8 million as at 31 March 2022[55]. - The Group's cash flow management is prudent, with no material outstanding debts as at 31 March 2022, except for certain debts including lease liabilities and bank borrowings[55].
智勤控股(09913) - 2022 - 年度财报