Financial Performance - The company reported a revenue increase of approximately HKD 80.9 million or 24.7%, reaching about HKD 408.6 million for the fiscal year ending March 31, 2022[7]. - Net profit for the fiscal year was approximately HKD 37.4 million, up from HKD 27.3 million in the previous fiscal year, primarily due to increased revenue and higher profit margins[7]. - Revenue increased by approximately 24.7% from about HKD 327.7 million for the year ended March 31, 2021, to about HKD 408.6 million for the year ended March 31, 2022[23]. - The company recorded a net profit of approximately HKD 37.4 million for the year ended March 31, 2022, compared to HKD 27.3 million for the year ended March 31, 2021, representing an increase of about 37.0%[21]. - Gross profit for the year ended March 31, 2022, was approximately HKD 64.7 million, up about 32.9% from HKD 48.7 million for the previous year[27]. - The gross profit margin increased to approximately 15.8% for the year ended March 31, 2022, compared to 14.9% for the previous year, an increase of about 0.9 percentage points[27]. - Cost of goods sold was approximately HKD 343.9 million for the year ended March 31, 2022, an increase of about 23.2% from HKD 279.1 million for the previous year[24]. - Selling and distribution costs rose to approximately HKD 11.1 million for the year ended March 31, 2022, a 39.4% increase from HKD 8.0 million for the previous year[28]. - Administrative expenses slightly decreased to approximately HKD 7.8 million for the year ended March 31, 2022, from HKD 8.2 million for the previous year[28]. - Tax expenses increased by approximately HKD 2.0 million or 33.1%, from HKD 6.0 million for the year ended March 31, 2021, to HKD 8.0 million for the year ended March 31, 2022[30]. - Cash and cash equivalents as of March 31, 2022, were approximately HKD 48.8 million, compared to HKD 35.6 million as of March 31, 2021[37]. - Total equity attributable to the owners of the company was approximately HKD 190.9 million as of March 31, 2022, up from HKD 160.5 million as of March 31, 2021[37]. - The group had total debt of approximately HKD 0.9 million as of March 31, 2022, down from HKD 2.5 million as of March 31, 2021[37]. - The group’s debt-to-equity ratio was approximately 0.5% as of March 31, 2022, compared to 1.6% as of March 31, 2021[40]. - Employee costs totaled approximately HKD 6.4 million for the year ended March 31, 2022, compared to HKD 5.9 million for the year ended March 31, 2021[46]. - The proposed final dividend for the year ended March 31, 2022, is HKD 0.033 per share, totaling HKD 9,240,000, compared to HKD 0.025 per share and HKD 7,000,000 for the previous year[55]. Business Operations - The company serves over 410 customers, primarily frozen seafood resellers and suppliers, offering a variety of over 100 types of seafood products[8]. - The ongoing COVID-19 pandemic continues to impact the business environment, particularly affecting the restaurant sector in Hong Kong[8]. - The company aims to closely monitor market conditions and adapt its strategies to improve business performance amid ongoing challenges[8]. - The company has established sales agency arrangements with several new overseas suppliers since its listing and will seek more exclusive agency or sales arrangements[22]. - The net proceeds from the share issuance provide financial resources to support the company's business opportunities and strategies, strengthening its market position in the frozen seafood import and wholesale industry in Hong Kong[22]. - The largest customer accounted for approximately 5.9% of total sales, while the top five customers represented about 21.1% of total revenue for the fiscal year ending March 31, 2022, compared to 4.6% and 18.7% in 2021, respectively[59]. - The largest supplier accounted for approximately 14.0% of total purchases, with the top five suppliers making up about 42.8% of total procurement, compared to 13.7% and 41.9% in 2021, respectively[59]. - The company maintained good relationships with employees, customers, and suppliers, with no significant disputes reported for the fiscal year ending March 31, 2022[60]. Governance and Compliance - The board of directors includes executive directors and independent non-executive directors, with terms set to be renewed at the upcoming annual general meeting on August 18, 2022[60]. - The company has not entered into any management or administrative contracts concerning the majority of its business as of March 31, 2022[67]. - The company’s independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules[64]. - The total number of shares held by the major shareholders, including 嘉信控股有限公司, is 201,600,000, representing approximately 72% of the total shares[76]. - The remuneration of directors and senior management is determined by the remuneration committee based on the group's performance and market statistics[66]. - There were no arrangements allowing directors to benefit from acquiring shares or debt securities of the company or any other entity during the fiscal year ending March 31, 2022[73]. - The company has complied with GEM Listing Rules Chapter 20 regarding the disclosure of continuing connected transactions during the review year[83]. - The company has maintained sufficient public float as required by GEM Listing Rules during the reporting period[91]. - The company has purchased appropriate directors and officers liability insurance for its directors and senior officers[85]. - The company has confirmed that there are no interests or potential conflicts of interest from directors or controlling shareholders in any competing business[88]. - The company has adhered to environmental laws and is committed to minimizing its negative impact on the environment[93]. - The company has not purchased, sold, or redeemed any of its listed securities since the listing date[90]. - The company has not granted, exercised, or canceled any options under the share option scheme as of March 31, 2022[99]. - The stock option plan allows the issuance of up to 28,000,000 shares, which is 10% of the total shares issued as of the report date[104]. - The maximum number of shares that can be issued due to the exercise of stock options in any twelve-month period is limited to 1% of the issued shares, unless prior approval is obtained from shareholders[105]. - The stock option plan is valid for ten years from the listing date, which is October 19, 2017[109]. - Eligible participants must pay HKD 1 when accepting the stock option offer[107]. - The exercise price for the stock options will be determined by the board but cannot be lower than the higher of the par value or the closing price on the offer date[108]. Environmental, Social, and Governance (ESG) Commitment - The company emphasizes its commitment to corporate social responsibility, focusing on ethical behavior, employee health and safety, and community engagement[113]. - The company has established a structured governance framework for overseeing its environmental, social, and governance strategies and reporting[184]. - The company prioritizes product safety, quality control, supply chain management, and community contributions as key sustainability issues[185]. - The company encourages stakeholder feedback on its environmental, social, and governance policies and performance through its website[186]. - The company’s environmental, social, and governance report is prepared in accordance with the GEM listing rules and guidelines set by the Hong Kong Stock Exchange[174]. - The company provides additional services such as product procurement, quality assurance, warehousing, and transportation to enhance product value[184]. - Total greenhouse gas emissions for the year ending March 31, 2022, amounted to 1,385.26 tons, including Scope 1, Scope 2, and Scope 3 emissions[195]. - The company's annual fuel consumption for trucks was approximately 16,587 liters, covering a distance of about 47,308 kilometers[193]. - The total amount of refrigerant consumed by the company's refrigeration storage equipment was approximately 122.4 kilograms for the year ending March 31, 2022[198]. - The company's annual electricity consumption was approximately 980,880 kilowatt-hours, resulting in Scope 2 emissions of 362,925.6 kilograms of CO2[200]. - The total Scope 1 emissions from direct operations, including road transport, were 43,782.0 kilograms of greenhouse gases[195]. - The company reported nitrogen oxides emissions of 148.2 kilograms, sulfur oxides emissions of 0.3 kilograms, and particulate matter emissions of 14.7 kilograms[194]. - The total CO2 emissions from refrigerants were reported at 977,007.0 kilograms[199]. - The company is committed to balancing effective operations with environmental protection and adheres to environmental laws and regulations[191]. - The company regularly monitors business operations and reviews material consumption data to minimize environmental pollution[192]. - The company promotes energy conservation and emission reduction throughout all processes from procurement to sales and delivery[191].
大洋环球控股(08476) - 2022 - 年度财报