Financial Performance - For the fiscal year ending March 31, 2025, the company reported revenue of approximately HKD 395.9 million, a decrease of about HKD 62.9 million or 13.7% compared to HKD 458.7 million for the fiscal year 2024[6]. - Gross profit for the fiscal year 2025 was approximately HKD 65.7 million, slightly down by HKD 0.8 million or 1.3% from HKD 66.6 million in fiscal year 2024, with a gross margin improvement from 14.5% to 16.6%[6]. - The net profit for fiscal year 2025 was approximately HKD 41.7 million, a slight increase from HKD 40.8 million in fiscal year 2024, attributed to improved gross margin despite decreased revenue[6]. - Revenue decreased by approximately 13.7% from about HKD 458.7 million for the year ending March 31, 2024, to about HKD 395.9 million for the year ending March 31, 2025, primarily due to reduced sales of various products[18]. - The group recorded a net profit of approximately HKD 41.7 million for the year ending March 31, 2025, compared to HKD 40.8 million for the previous year, reflecting a slight increase despite a decrease in revenue[16]. - The cost of goods sold for the year ending March 31, 2025, was approximately HKD 330.2 million, a decrease of about 15.8% from HKD 392.2 million for the previous year[19]. - Selling and distribution costs for the year ending March 31, 2025, were approximately HKD 11.9 million, an increase of about 2.9% from HKD 11.6 million for the previous year, representing about 3.0% of total revenue[21]. - Administrative expenses decreased from HKD 8.7 million for the year ending March 31, 2024, to approximately HKD 8.4 million for the year ending March 31, 2025, mainly due to reduced overseas travel and entertainment expenses[22]. - Financial costs decreased from approximately HKD 72,000 for the year ending March 31, 2024, to about HKD 57,000 for the year ending March 31, 2025[23]. - The total equity attributable to the owners of the company was approximately HKD 291.9 million as of March 31, 2025, compared to HKD 261.4 million a year earlier[29]. - The group’s debt-to-equity ratio was approximately 0.8% as of March 31, 2025, compared to 0.4% a year earlier[31]. - The board proposed a final dividend of HKD 0.042 per share, totaling HKD 11.76 million for the fiscal year ending March 31, 2025, compared to HKD 11.2 million for the previous year[45]. Market Position and Strategy - The company serves over 370 customers, primarily frozen seafood resellers and food service providers, offering a variety of over 100 types of frozen seafood products[7]. - The company anticipates continued pressure on the local food service industry due to changing consumer trends and uncertainties from U.S. trade policies, particularly potential protectionist measures[7]. - The company aims to closely monitor market conditions and adapt its strategies to respond to unforeseen changes, striving for better business performance[7]. - The company plans to leverage its listing to secure financial resources to capitalize on business opportunities and strengthen its market position in the frozen seafood import and wholesale sector in Hong Kong[7]. - The group plans to closely monitor market conditions, especially in the local retail market, and will enhance cost-saving measures in response to ongoing challenges[17]. - The group aims to strengthen its market position in the frozen seafood import and wholesale industry through financial resources from share issuance and by establishing new sales agency arrangements with overseas suppliers[17]. - The board maintains a cautiously optimistic outlook for the group's business prospects despite pressures from changing consumer trends and uncertainties in international trade[17]. Corporate Governance - The company has received independence confirmations from all independent non-executive directors, affirming their status as independent individuals[53]. - The company has no management or administrative contracts related to the entire or a substantial part of its business as of March 31, 2025[57]. - The executive directors have service agreements with an initial term of three years, subject to re-election at the annual general meeting[54]. - The remuneration of directors is determined by the remuneration committee based on the group's operating performance and market statistics[55]. - The company has no significant transactions or arrangements involving major interests held by directors or related entities during the year[58]. - The board of directors has confirmed that there are no competing interests with the group’s business from its directors or controlling shareholders[71]. - The company has adopted the GEM Listing Rules as the code for directors' securities transactions and confirms compliance since the listing date[99]. - The board recognizes the importance of good corporate governance practices to achieve effective accountability and has adhered to the corporate governance code since the listing date[95]. - The company has appointed two executive directors and three independent non-executive directors as of the report date[102]. - The audit committee consists of three independent non-executive directors who review the accounting standards and internal control systems, including the audited consolidated financial statements for the year ending March 31, 2025[93]. - The board retains decision-making authority over all significant matters, including policies, strategies, and financial reporting[104]. - The company has implemented appropriate insurance coverage for directors and senior officers to mitigate business-related risks[108]. - The company has established a clear organizational structure with defined responsibilities and authority for internal controls and procedures[131]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers the group's performance in these areas for the fiscal year ending March 31, 2025[138]. - The ESG report adheres to principles of materiality, quantification, balance, and consistency to ensure meaningful comparisons[139]. - The board is responsible for assessing and determining the group's ESG-related risks and ensuring effective risk management systems are in place[140]. - The company has a commitment to environmental sustainability, balancing effective operations with environmental protection policies[145]. - The company has established communication channels with stakeholders, including shareholders, employees, customers, suppliers, and the community, to address their concerns[142]. - The company has implemented measures to reduce emissions, including limiting air conditioning usage and encouraging the use of electronic documents to minimize paper waste[154]. - The company has identified acute physical risks from extreme weather events, such as typhoons and floods, which pose a medium risk level in the short term[170]. - The company is monitoring existing and emerging trends related to climate change to avoid incremental costs and reputational risks[171]. - The company aims to enter new markets focused on sustainable and environmentally friendly products, enhancing market share and revenue growth[174]. - The company plans to utilize public sector incentives and adopt low-carbon equipment to potentially reduce operating costs in the long term[174]. Employee and Training - As of March 31, 2025, the company has a total of 17 employees, including 15 full-time and 2 part-time staff[176]. - Employee turnover rate is 11.8%, with a breakdown of 18.2% for males and 0% for females[179]. - 47.1% of employees participated in training during the reporting period, with 75.0% being male and 25.0% female[184]. - Average training hours per employee is 2.8 hours, with males averaging 2.3 hours and females averaging 3.7 hours[185]. - The company has implemented extensive internal training programs to ensure employee health and safety, especially during the COVID-19 pandemic[180]. - The company has a comprehensive recruitment process and strictly prohibits child labor and forced labor[186]. - The company has not encountered any major suppliers with significant adverse impacts on business ethics, environmental protection, or labor practices[189]. Safety and Compliance - The company received no formal customer complaints related to food safety during the fiscal year ending March 31, 2025[192]. - The company has implemented data protection policies to safeguard customer privacy, ensuring compliance with relevant laws and regulations[194]. - The company has established internal control policies to protect intellectual property and prevent infringement, emphasizing the importance of compliance among employees[193]. - The company has established a food safety committee to maintain and improve quality control policies and procedures[190]. - The company has implemented emergency plans for extreme weather and special work arrangements to ensure employee safety and asset protection[170].
大洋环球控股(08476) - 2025 - 年度财报