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《2025中国海洋发展指数报告》在青岛西海岸新区发布
Zhong Guo Xin Wen Wang· 2025-09-08 07:53
《2025中国海洋发展指数报告》在青岛西海岸新区发布。张孝鹏 摄 中国海洋发展指数是对一定时期中国海洋领域在经济民生、科技创新、生态环境、资源利用、开放水 平、综合管理六个方面的综合量化评估。该指数以2015年为基期,基期指数设定为100。 中新网青岛9月8日电(张孝鹏 王禹)《2025中国海洋发展指数报告》(简称《报告》)于8日在山东省青岛 西海岸新区举行的2025海洋发展论坛上发布。《报告》显示,2024年,中国海洋发展指数为129.7,比 上年增长2.9%,海洋发展稳中提质,海洋强国建设扎实推进。 9月8日, 《报告》称,2024年,中国的海洋经济发展势头强劲,民生保障能力持续提高,海洋科技创新效能不断 提升,海洋生态环境状况持续改善,海洋资源开发利用能力进一步提高,海洋领域国际经贸合作持续拓 展,高水平对外开放取得成效,海洋领域综合管理水平稳步提高。 《报告》显示,2016年至2024年中国海洋发展指数年均增速为2.9%,总体保持平稳增长。其中,经济 民生指数年均增速为3.2%,科技创新指数年均增速为3.4%,生态环境指数年均增速为2.7%,资源利用 指数年均增速为2.8%,开放水平指数年均增速为2. ...
报告显示2024年中国海洋发展指数比上年增长2.9%
Zhong Guo Xin Wen Wang· 2025-09-08 07:50
Core Insights - The 2024 China Marine Development Index is reported to be 129.7, reflecting a 2.9% increase from the previous year, indicating steady improvement in marine development and progress in building a strong marine nation [1][2]. Economic and Social Aspects - The Economic and Livelihood Index for 2024 is 133.0, showing a growth of 3.1% compared to the previous year [2]. - The report highlights a strong momentum in marine economic development and continuous improvement in livelihood security [2]. Technological and Environmental Aspects - The Technology Innovation Index stands at 135.2, with a 2.6% increase year-on-year [2]. - The Ecological Environment Index is recorded at 126.6, reflecting a 2.4% growth, indicating ongoing improvements in marine ecological conditions [2]. Resource Utilization and Management - The Resource Utilization Index is 128.2, marking a 2.8% increase from last year [2]. - The Comprehensive Management Index is reported at 121.6, with a growth of 3.3%, suggesting steady enhancements in marine management capabilities [2]. International Cooperation and Openness - The Openness Level Index is 128.7, showing a 3.0% increase, which points to the expansion of international economic and trade cooperation in the marine sector [2]. - The report emphasizes the achievements in high-level openness in the marine field [2].
2024年中国海洋发展指数增长2.9%,海洋强国建设扎实推进
Xin Jing Bao· 2025-09-08 02:48
Core Insights - The 2025 China Marine Development Index Report indicates a steady improvement in China's marine development, with the index reaching 129.7 in 2024, a 2.9% increase from the previous year [1] Economic and Livelihood Development - The economic and livelihood index for 2024 is 133.0, reflecting a 3.1% growth year-on-year - The national marine GDP has surpassed 10 trillion yuan for the first time, marking a 5.9% increase from the previous year - Emerging marine industries and marine manufacturing continue to grow rapidly, with a 0.5 kg increase in per capita marine product availability [1] Technological Innovation - The technology innovation index stands at 135.2 for 2024, a 2.6% increase from the previous year - Significant advancements in marine technology include the commissioning of the domestically designed deep-sea drilling vessel "Dream" and successful sea trials of the deep-sea mining vehicle "Explorer II" [2] Ecological Environment - The ecological environment index is 126.6, showing a 2.4% increase year-on-year - The proportion of coastal waters with good water quality (Class I and II) is 83.7%, indicating stable overall seawater quality - Over 400 kilometers of coastline and more than 31,000 hectares of coastal wetlands have been restored since the 14th Five-Year Plan [2] Resource Utilization - The resource utilization index is 128.2, reflecting a 2.8% increase from the previous year - The area of newly utilized marine space has increased by 15.6%, supporting major projects in oil and gas and transportation infrastructure - Offshore wind power generation has increased by nearly 30%, and seawater desalination capacity has grown by 13.2% [2] High-Level Opening Up - The openness index for 2024 is 128.7, a 3.0% increase from the previous year - The total import and export volume of marine transport has grown by 1.9%, with trade with Belt and Road coastal countries increasing by 6.3% - Coastal ports have seen a 6.9% increase in foreign trade cargo throughput [3] Comprehensive Management - The comprehensive management index is 121.6, reflecting a 3.3% increase year-on-year - A total of 315 marine disaster warnings were issued in 2024, and the number of effective marine standards has increased by 14.8% - Participation in national-level marine international conferences and training has grown by 23.0%, indicating deepening international cooperation [3]
中国海洋发展(08047) - 截至2025年8月31日止之股份发行人的证券变动月报表
2025-09-03 11:27
| 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08047 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.01 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.01 | HKD | | 200,000,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致:香港交易及結算所有限公司 公司名稱: 中國海洋集團有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 本月底法定/ ...
中国海洋发展(08047) - 补充公告(1)进一步延迟刊发年度业绩公告;及(2)继续暂停买卖
2025-09-02 22:03
香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本公告之內容概不負責,對 其準確性或完整性亦不發表任何聲明,並明確表示概不會就本公告全部或任何部分內容而產生或 因依賴該等內容而引致之任何損失承擔任何責任。 China Ocean Group Development Limited 中國海洋集團發展有限公司 (於百慕達註冊成立之有限公司) (股份代號:8047) 補充公告 (1)進一步延遲刊發年度業績公告;及 (2)繼續暫停買賣 茲提述中國海洋集團發展有限公司(「本公司」連同其附屬公司稱為「本集團」)日期為二零二五年 六月二十五日及二零二五年六月三十日有關可能延遲刊發二零二五年度業績公告及暫停買賣的 公告(統稱為「該等公告」)。除本公告內另有界定者外,本公告所用詞彙與該等公告所界定者具有 相同涵義。 進一步延遲刊發年度業績公告 由於近期更換了審計師,會計和財務人員投入了大量的時間和精力,協助新審計師完成額外的工 作和文件編制,以準備和執行本年度的審計工作。同時若干審核流程及程序(包括但不限於取得 必要的未完成審核確認函)於本公告日期尚未完成及落實,導致審核進度出現延誤。於該等情況 下,本公司核數 ...
中国海洋发展(08047) - 截至2025年7月31日止之股份发行人的证券变动月报表
2025-08-06 13:12
股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 本月底法定/註冊股本總額: HKD 200,000,000 致:香港交易及結算所有限公司 公司名稱: 中國海洋集團有限公司 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08047 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.01 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.01 ...
中国海洋发展治理成果和努力在联合国海洋大会获高度评价
Xin Hua Wang· 2025-06-12 22:23
Core Viewpoint - The United Nations Ocean Conference in Nice, France, highlighted China's achievements in marine ecological protection and sustainable development, receiving high praise from global experts and officials [1][2]. Group 1: China's Initiatives and Achievements - China has established marine protected areas and wetland management zones, invested in ecological restoration, and implemented effective patrols to enhance marine biodiversity [2]. - The "Blue Partnership" initiative showcases China's commitment to sharing knowledge and technology with the international community, aiming to assist countries in capacity building for marine protection [1][3]. - The COAST toolkit, developed by China's First Institute of Oceanography, integrates marine big data, advanced numerical models, and AI technology to provide visual products and services for marine disaster management, ecological health, and fisheries resources [2]. Group 2: International Collaboration and Recognition - Experts from various countries, including Egypt and the United Nations, acknowledged the COAST toolkit's potential to help global southern nations better understand and assess their marine resources [3][4]. - China's efforts in promoting environmentally friendly regulations for deep-sea mining were commended, emphasizing its role in multilateralism and adherence to international marine rules [4]. - The International Council for Science's marine expert group highlighted China's leadership in projects under the "UN Decade of Ocean Science for Sustainable Development" (2021-2030), reinforcing its commitment to knowledge sharing and exploration [4].
全景式展现中国海洋发展图景 《向海而行》今日开播
Yang Shi Xin Wen· 2025-06-08 07:41
Core Viewpoint - The series "Towards the Sea" aims to showcase China's marine development and its commitment to becoming a maritime power, highlighting various innovative practices in marine energy, technology, and ecological protection [4][15]. Group 1: Themes and Content - The program focuses on five main themes: "Resource Treasure," "Chasing Dreams in the Deep Blue," "Farming and Fishing," "Blue Coastlines," and "Blue Pulses," providing a comprehensive view of China's advancements in marine energy development and ecological restoration [4]. - It features over 20 stories that illustrate China's commitment to global marine governance and resource sharing, emphasizing the harmonious relationship between humans and the sea [6][15]. Group 2: Technological Innovations - The series employs advanced filming techniques such as aerial photography, data visualization, and animation to present complex marine scenarios, showcasing China's significant technological advancements in marine science [11]. - Highlights include the successful trial of combustible ice extraction and the integration of floating wind power platforms into the energy grid, demonstrating China's technological breakthroughs in the marine sector [8]. Group 3: Economic Impact - China's marine economy is projected to exceed 10 trillion yuan (approximately 1.5 trillion USD) for the first time in 2024, reflecting the growth and global competitiveness of its marine industries [15]. - The program aims to inspire public awareness and appreciation for marine resources, reinforcing the strategic value of the ocean in China's development narrative [15].
中国海洋发展(08047) - 2025 - 中期业绩
2024-11-28 14:37
Financial Performance - The group's revenue for the six months ended September 30, 2024, was approximately HKD 197.8 million, a decrease of 27.5% compared to HKD 272.7 million for the same period in 2023[8]. - The group reported a loss of approximately HKD 6.8 million for the current period, compared to a profit of HKD 10.6 million in the same period last year[8]. - The loss attributable to equity holders of the company was approximately HKD 3.8 million, down from a profit of HKD 14.0 million in the previous year[8]. - Basic loss per share for the current period was approximately HKD (0.05) cents, compared to earnings of HKD 0.23 cents per share in the prior year[8]. - Gross profit for the current period was HKD 20.0 million, down 40.3% from HKD 33.6 million in the same period last year[11]. - Total comprehensive loss for the period was HKD 18.4 million, compared to a profit of HKD 24.1 million in the same period last year[13]. - The company's revenue for the six months ended September 30, 2024, was HKD 272,686,000, a decrease from HKD 197,799,000 in the same period of 2023[33]. - Other income for the six months ended September 30, 2024, totaled HKD 3,652,000, down from HKD 17,092,000 in the previous year[35]. - The company reported a total comprehensive loss of HKD 6,840,000 for the six months ended September 30, 2024, compared to a profit of HKD 10,642,000 in the same period of 2023[40]. Cash Flow and Assets - The group's cash and cash equivalents as of September 30, 2024, were HKD 133,000, a decrease from HKD 243,000 as of March 31, 2024[15]. - The net cash used in operating activities for the six months ended September 30, 2024, was HKD (9,524,000), compared to HKD 7,693,000 in the same period of 2023[22]. - The total assets less current liabilities as of September 30, 2024, were HKD 550,817,000, down from HKD 570,662,000 as of March 31, 2024[17]. - The company's net asset value as of September 30, 2024, was HKD 506,121,000, a decrease from HKD 525,119,000 as of March 31, 2024[17]. - As of September 30, 2024, the total assets of the group were approximately HKD 1,270,503,000, an increase from approximately HKD 1,061,472,000 as of March 31, 2024[69]. - The group had bank borrowings of approximately HKD 53,000,000 as of September 30, 2024, compared to approximately HKD 51,859,000 as of March 31, 2024[71]. Segment Performance - The supply chain management services segment generated revenue of HKD 197,799,000, while the marine fishing segment reported no revenue[33][34]. - The overall segment performance showed a loss of HKD 5,492,000 for the six months ended September 30, 2024, compared to a profit of HKD 20,244,000 in the same period of 2023[40]. - Total assets for the supply chain management services segment amounted to HKD 1,002,593,000 as of September 30, 2024, an increase from HKD 783,480,000 as of March 31, 2024[42]. - The total liabilities for the supply chain management services segment were HKD 421,602,000 as of September 30, 2024, compared to HKD 200,855,000 as of March 31, 2024, indicating a significant increase[42]. Dividends and Shareholder Information - The board of directors did not recommend any interim dividend for the current period, consistent with the previous year[8]. - The company did not recommend any interim dividend for the current period, consistent with the previous year[49]. - As of September 30, 2024, Liu Yi holds 724,292,000 shares, representing approximately 10.22% of the issued share capital[94]. - During the reporting period, the company did not repurchase any shares, nor did it or any of its subsidiaries buy or sell any related shares[97]. Employee and Operational Information - As of September 30, 2024, the company employed 24 staff members, a decrease from 39 staff members as of September 30, 2023[78]. - Total employee costs for the period amounted to HKD 1,871,000, compared to HKD 1,618,000 for the same period in 2023, reflecting an increase of approximately 15.6%[78]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the period and confirmed compliance with appropriate accounting standards and GEM listing rules[103].
中国海洋发展(08047) - 2024 - 年度财报
2024-07-31 13:18
[Corporate Information](index=4&type=section&id=Corporate%20Information) [Board of Directors and Committees](index=4&type=section&id=Board%20of%20Directors%20and%20Committees) The report details the company's Board of Directors and various committee members, including changes during the reporting period, ensuring independent and professional corporate governance - The company's Board of Directors and various committee members underwent multiple changes, including the resignation of Executive Director Ms. Wei Qing and the appointment of new directors Mr. Chen Jianzhang, Mr. Chen Shenxiu, and Mr. Yang Ying[584](index=584&type=chunk)[608](index=608&type=chunk) [Key Corporate Offices](index=6&type=section&id=Key%20Corporate%20Offices) The company, incorporated in Bermuda with stock code 8047, maintains its registered office in Bermuda and principal places of business in Hong Kong and Shenzhen, China, with key information on share registrars and website provided - The company maintains offices in Hong Kong, mainland China, and Bermuda, with Bank of China (Hong Kong) Limited as its principal banker[586](index=586&type=chunk)[587](index=587&type=chunk)[609](index=609&type=chunk) [Chairman's Statement](index=7&type=section&id=Chairman's%20Statement) The Chairman's Statement reviews the fiscal year ended March 31, 2024, highlighting significant revenue growth, improved gross profit, and narrowed loss attributable to owners, primarily driven by the seafood supply chain business despite challenges in the fishing segment [Results](index=7&type=section&id=Results) The Group's overall financial performance significantly improved this fiscal year, with total revenue increasing by 76.3% year-on-year, gross profit more than tripling, and loss attributable to owners narrowing by 18.3% 2024 Fiscal Year Key Financial Indicators | Indicator | 2024 Fiscal Year (HKD Million) | 2023 Fiscal Year (HKD Million) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Revenue** | 398.2 | 225.9 | +76.3% | | **Gross Profit** | 45.3 | 13.8 | +228.3% | | **Gross Profit Margin** | 11.4% | 6.1% | +5.3pp | | **Loss Attributable to Owners** | (37.4) | (45.8) | -18.3% | | **Administrative Expenses** | 53.2 | 43.9 | +21.2% | [Operational Review](index=8&type=section&id=Operational%20Review) This year, the Group's core business focused on seafood supply chain management services, vertically integrated with fishing subsidiaries, though the fishing business faced temporary suspension due to vessel renewal and license renewal issues - Supply chain management services are the Group's business focus, while the deep-sea fishing business faces temporary stagnation due to vessel renewal and license renewal issues, with management actively seeking solutions[593](index=593&type=chunk)[615](index=615&type=chunk)[645](index=645&type=chunk) - As a trade practice, the Group pays prepayments to suppliers to ensure seafood supply, with prepayment amounts increasing from **HKD 356 million** to **HKD 513 million** this fiscal year[591](index=591&type=chunk)[644](index=644&type=chunk) [Prospect](index=9&type=section&id=Prospect) Looking ahead, the Group will continue to closely monitor and stabilize the supply chain management business while actively seeking promising investment and business opportunities, particularly in deep-sea fishing, to broaden revenue streams and enhance shareholder value - The company's future strategy focuses on stabilizing supply chain operations and actively seeking new investment opportunities, especially in deep-sea fishing where the management team has extensive experience[648](index=648&type=chunk)[594](index=594&type=chunk) [Management Discussion and Analysis](index=10&type=section&id=Management%20Discussion%20and%20Analysis) This section analyzes the Group's operational and financial performance, highlighting strong revenue and gross profit growth from the seafood supply chain business, narrowed losses, increased administrative expenses, and stable capital structure, alongside updates on arbitration, foreign exchange risk management, and employee compensation [Financial Review](index=10&type=section&id=Financial%20Review) This fiscal year, the Group's revenue increased to HKD 398 million, gross profit to HKD 45.3 million, and gross profit margin improved from 6.1% to 11.4%, while loss attributable to owners narrowed to HKD 37.4 million, and administrative expenses rose to HKD 53.2 million Financial Performance Summary (HKD Million) | Indicator | 2024 Fiscal Year | 2023 Fiscal Year | | :--- | :--- | :--- | | Revenue | 398.2 | 225.9 | | Gross Profit | 45.3 | 13.8 | | Loss Attributable to Owners | (37.4) | (45.8) | | Administrative Expenses | 53.2 | 43.9 | | Prepayments to Suppliers | 513.3 | 355.9 | [Liquidity, financial resources and capital structure](index=12&type=section&id=Liquidity%2C%20financial%20resources%20and%20capital%20structure) As of March 31, 2024, the Group's total assets were approximately HKD 1.06 billion, with bank balances and cash at HKD 243 thousand, primarily relying on self-generated operating funds, share placements/subscriptions, and borrowings for operations, maintaining a relatively stable capital structure with a gearing ratio of approximately 4.9% Capital Structure and Liquidity (As of March 31) | Indicator | 2024 | 2023 | | :--- | :--- | :--- | | Total Assets (HKD Million) | 1,061.5 | 936.9 | | Bank Balances and Cash (HKD Thousand) | 243 | 4,129 | | Total Bank Borrowings (HKD Million) | 51.9 | 61.7 | | Gearing Ratio | 4.9% | 6.6% | [Litigations and Risk Management](index=13&type=section&id=Litigations%20and%20Risk%20Management) The report discloses the arbitration outcome with COFCO Capital (Hong Kong) Co., Ltd., requiring the company to pay approximately HKD 5 million in legal fees and interest, alongside financing restrictions, while the Group manages foreign exchange risk by primarily transacting in HKD and RMB and maintaining a prudent inventory policy - The company received an arbitration award from the Hong Kong International Arbitration Centre, requiring payment of approximately **HKD 5 million** in legal fees and interest to COFCO Capital, and restricting financing activities without their consent[633](index=633&type=chunk) [Employees and remuneration policies](index=14&type=section&id=Employees%20and%20remuneration%20policies) As of March 31, 2024, the Group had 36 employees (including directors), a decrease from 43 last year, with total staff costs (excluding directors' emoluments) amounting to approximately HKD 4.7 million, down from HKD 6 million last year - Employee headcount decreased from **43** to **36**[12](index=12&type=chunk) - Staff costs (excluding directors) decreased from **HKD 6 million** to **HKD 4.7 million**[12](index=12&type=chunk) [Biographies of Directors and Company Secretary](index=15&type=section&id=Biographies%20of%20Directors%20and%20Company%20Secretary) [Executive Directors](index=15&type=section&id=Executive%20Directors) This section introduces the backgrounds of the company's executive directors, highlighting their diverse and senior professional experience in import-export trade, logistics, corporate management, financial investment, capital operations, risk control, compliance, and financial management - The executive director team possesses diverse and senior professional backgrounds in trade, finance, corporate management, and finance[14](index=14&type=chunk)[15](index=15&type=chunk)[639](index=639&type=chunk) [Non-executive Directors](index=16&type=section&id=Non-executive%20Directors) This section introduces the resumes of non-executive directors, showcasing their extensive experience in finance, real estate, agriculture, energy, and economic management - Non-executive directors bring extensive experience and broad knowledge from various industries, including finance, real estate, agriculture, and energy, to the board[16](index=16&type=chunk)[17](index=17&type=chunk) [Independent Non-executive Directors](index=17&type=section&id=Independent%20Non-executive%20Directors) This section details the backgrounds of independent non-executive directors, who bring expertise from finance, corporate management, social engagement, and economics, providing independent and professional opinions to the company's decision-making - The independent director team comprises experts from finance, corporate management, social activities, and economics, providing independent and professional opinions for the company's decisions[672](index=672&type=chunk)[18](index=18&type=chunk)[700](index=700&type=chunk) [Company Secretary](index=19&type=section&id=Company%20Secretary) The Company Secretary, Mr. Lam Chi Ming, possesses over 30 years of experience in finance and general management and is a fellow of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants - Mr. Lam Chi Ming possesses extensive financial and management background, providing professional secretarial services to the company[702](index=702&type=chunk)[703](index=703&type=chunk) [Report of the Directors](index=20&type=section&id=Report%20of%20the%20Directors) The Directors' Report comprehensively outlines the company's business operations, financial position, corporate governance, and compliance matters for the reporting period, confirming adherence to relevant laws and regulations and maintenance of sufficient public float [Summary of Financial Information](index=21&type=section&id=Summary%20of%20Financial%20Information) The report provides key consolidated results and financial position data for the past five fiscal years, showing the company's revenue at HKD 398.2 million and loss before tax at HKD 44.31 million for FY2024, with total assets of HKD 1.046 billion and total liabilities of HKD 536 million as of March 31, 2024 Five-Year Financial Data Summary (HKD Million) | Fiscal Year | 2024 | 2023 | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | 398.2 | 225.9 | 298.7 | 621.7 | 826.5 | | **(Loss)/Profit Before Tax** | (44.3) | (50.0) | (657.0) | (377.7) | 35.6 | | **Total Assets** | 1,046.3 | 936.9 | 1,027.5 | 1,544.6 | 1,716.6 | | **Total Liabilities** | (536.4) | (448.2) | (501.2) | (474.8) | (439.4) | [Key Relationships and Risks](index=22&type=section&id=Key%20Relationships%20and%20Risks) The company is committed to environmental protection and legal compliance, maintaining good relationships with employees, customers, and suppliers, while identifying and managing key risks including operational, market, and investment risks through established monitoring and response mechanisms - The company faces key risks including operational risk, market risk, and investment risk, with corresponding management frameworks established for monitoring[32](index=32&type=chunk)[61](index=61&type=chunk)[34](index=34&type=chunk) [Major Customers and Suppliers](index=26&type=section&id=Major%20Customers%20and%20Suppliers) This fiscal year, the Group exhibited very high customer and supplier concentration, with the top five customers contributing 100% of total revenue (the largest accounting for 92%), and the top five suppliers accounting for 100% of total purchases (the largest accounting for 91%) - The top five customers accounted for **100%** of total revenue, with the largest customer accounting for **92%**[720](index=720&type=chunk)[747](index=747&type=chunk) - The top five suppliers accounted for **100%** of total purchases, with the largest supplier accounting for **91%**[36](index=36&type=chunk)[67](index=67&type=chunk) [Directors' Interests and Share Options](index=27&type=section&id=Directors'%20Interests%20and%20Share%20Options) The report discloses directors' service contracts, interests in company shares, and the status of the share option scheme, noting that Executive Director Mr. Cai Haiming holds 2.13% of the company's shares and no share options have been granted or exercised since the scheme's adoption - Executive Director Mr. Cai Haiming holds **150,532,857** shares in the company, representing **2.13%** of the issued share capital[49](index=49&type=chunk) - Since the adoption of the share option scheme, the company has never granted or exercised any share options[76](index=76&type=chunk)[78](index=78&type=chunk) [Audit Committee and Auditor](index=32&type=section&id=Audit%20Committee%20and%20Auditor) The Audit Committee, comprising three independent non-executive directors with Mr. Jin Xiaoxian as chairman, reviewed financial reporting processes and internal controls, confirming compliance and recommending the re-appointment of Kaiyuan Xinde Certified Public Accountants Limited as auditor - The Audit Committee has reviewed the annual financial statements and deemed them compliant and adequately disclosed[56](index=56&type=chunk)[108](index=108&type=chunk) - The Board of Directors recommends the re-appointment of Kaiyuan Xinde Certified Public Accountants Limited as the company's auditor[59](index=59&type=chunk)[111](index=111&type=chunk) [Corporate Governance Report](index=34&type=section&id=Corporate%20Governance%20Report) This report outlines the company's compliance with corporate governance code provisions during the year, detailing the board's composition, responsibilities, meeting attendance, and the structure and work of its audit, remuneration, and nomination committees, along with internal controls, shareholder rights, and anti-corruption policies, reflecting a commitment to high governance standards [Board of Directors and Board Meetings](index=34&type=section&id=Board%20of%20Directors%20and%20Board%20Meetings) The Board of Directors is responsible for the Group's policy formulation, strategic planning, and major decision-making, with multiple changes in board members during the reporting period and 8 board meetings held, ensuring compliance with corporate governance code provisions and directors' adherence to securities trading conduct standards - The company complied with the provisions of the Corporate Governance Code throughout the year[113](index=113&type=chunk) - All directors confirmed compliance with the code of conduct regarding securities transactions during the year[91](index=91&type=chunk) - A total of **8** board meetings were held during the year, and the report discloses the attendance rate of each director[777](index=777&type=chunk)[778](index=778&type=chunk) [Board Committees](index=38&type=section&id=Board%20Committees) The company has established Audit, Remuneration, and Nomination Committees, with the Remuneration Committee reviewing compensation, the Nomination Committee reviewing board structure, and the Audit Committee overseeing financial reporting and internal controls, having held four meetings to review quarterly, interim, and annual results - The Audit Committee held **four** meetings this year, reviewing quarterly, interim, and annual results and providing recommendations to the Board[153](index=153&type=chunk)[154](index=154&type=chunk) - This year's auditor fees included approximately **HKD 1.5 million** for statutory audit services, with no non-audit service fees[157](index=157&type=chunk)[211](index=211&type=chunk) [Internal Control and Shareholders' Rights](index=42&type=section&id=Internal%20Control%20and%20Shareholders'%20Rights) The Board of Directors is responsible for maintaining the Group's internal control and risk management systems, conducting annual effectiveness reviews, and ensuring shareholder rights, including the right for shareholders holding at least 10% of paid-up capital to requisition an extraordinary general meeting - The Board of Directors is responsible for the Group's internal control system, but currently no internal audit team has been established[158](index=158&type=chunk)[181](index=181&type=chunk) - Shareholders holding no less than **10%** of the paid-up capital have the right to requisition an extraordinary general meeting[136](index=136&type=chunk)[160](index=160&type=chunk) [Directors' Responsibility and Going Concern](index=44&type=section&id=Directors'%20Responsibility%20and%20Going%20Concern) The Board of Directors confirms its responsibility for preparing true and fair financial statements and, despite challenges, believes there are no material uncertainties that would cast significant doubt on the Group's ability to continue as a going concern, thus maintaining the going concern basis for financial statement preparation - The Board of Directors believes that, despite challenges, preparing financial statements on a going concern basis is appropriate[164](index=164&type=chunk)[166](index=166&type=chunk) [Independent Auditor's Report](index=46&type=section&id=Independent%20Auditor's%20Report) Independent Auditor Kaiyuan Xinde Certified Public Accountants Limited issued an audit opinion on the Group's consolidated financial statements, affirming their true and fair reflection of the Group's financial position and performance, while highlighting a material uncertainty related to going concern due to losses, low cash, and high current borrowings, without modifying the opinion, and identifying impairment assessment of receivables as a key audit matter [Opinion](index=46&type=section&id=Opinion) The auditor believes that the consolidated financial statements truly and fairly reflect the Group's consolidated financial position as of March 31, 2024, and its consolidated financial performance and cash flows for the year then ended, and have been properly prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance - The auditor issued a standard unmodified opinion on the financial statements, deeming them true and fair[214](index=214&type=chunk)[853](index=853&type=chunk) [Material Uncertainty Related to Going Concern](index=47&type=section&id=Material%20Uncertainty%20Related%20to%20Going%20Concern) The auditor draws attention to the Group's annual loss of approximately HKD 37.4 million attributable to owners, bank balances and cash of only HKD 243 thousand, and current borrowings of HKD 148 million as of the reporting period end, indicating a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern, though the auditor's opinion is not modified in respect of this matter - The auditor emphasizes that the Group's annual loss, low cash levels, and high current borrowings constitute a material uncertainty regarding its ability to continue as a going concern[173](index=173&type=chunk)[201](index=201&type=chunk) [Key Audit Matters](index=47&type=section&id=Key%20Audit%20Matters) Beyond the going concern uncertainty, the auditor identified "Impairment assessment of trade receivables, loans and interest receivables, and other receivables" as a key audit matter due to its subjective nature, requiring significant management judgment and increasing the risk of error or potential management bias - The impairment assessment of receivables is considered a key audit matter due to its subjectivity and reliance on significant management judgment[215](index=215&type=chunk)[174](index=174&type=chunk) [Consolidated Financial Statements](index=53&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statement of Comprehensive Income](index=53&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) For the year ended March 31, 2024, the Group's revenue was HKD 398 million, a 76.3% year-on-year increase, with gross profit at HKD 45.27 million, up 228.4%, resulting in an operating loss of HKD 20.46 million due to increased administrative expenses and impairment losses on receivables, and a narrowed loss for the year of HKD 44.02 million compared to HKD 50.02 million last year Consolidated Statement of Comprehensive Income Summary (HKD Thousand) | Item | 2024 Fiscal Year | 2023 Fiscal Year | | :--- | :--- | :--- | | Revenue | 398,173 | 225,855 | | Gross Profit | 45,269 | 13,787 | | Loss from Operating Activities | (20,455) | (23,347) | | Loss Before Tax | (44,309) | (50,007) | | Loss for the Year | (44,024) | (50,015) | | Loss Attributable to Owners of the Company | (37,401) | (45,753) | | Basic Loss Per Share (HK Cents) | (0.59) | (0.75) | [Consolidated Statement of Financial Position](index=55&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2024, the Group's total assets increased to HKD 1.061 billion, with current assets accounting for HKD 814 million, primarily comprising trade and other receivables, while total liabilities stood at HKD 536 million, with current liabilities at HKD 491 million, resulting in an increased total equity (net assets) of HKD 525 million Consolidated Statement of Financial Position Summary (HKD Thousand) | Item | March 31, 2024 | March 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **1,061,472** | **936,916** | | Non-current Assets | 247,525 | 301,605 | | Current Assets | 813,947 | 635,311 | | **Total Liabilities** | **536,353** | **448,177** | | Current Liabilities | 490,810 | 393,918 | | Non-current Liabilities | 45,543 | 54,259 | | **Total Equity** | **525,119** | **488,739** | [Consolidated Statement of Cash Flows](index=59&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) This fiscal year, the Group experienced a net cash outflow from operating activities of HKD 61.26 million, primarily due to working capital changes, minimal cash outflow from investing activities, and a net cash inflow of HKD 82.68 million from financing activities, largely from new share placements, resulting in a significant decrease in period-end cash and cash equivalents to HKD 243 thousand due to negative foreign exchange rate impacts Consolidated Statement of Cash Flows Summary (HKD Thousand) | Item | 2024 Fiscal Year | 2023 Fiscal Year | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (61,260) | (26,019) | | Net Cash Used in Investing Activities | (5) | (15,639) | | Net Cash From Financing Activities | 82,676 | 14,810 | | Net Decrease in Cash and Cash Equivalents | 21,411 | (26,848) | | Effect of Foreign Currency Exchange Rate Changes | (25,297) | 29,423 | | **Cash and Cash Equivalents at End of Period** | **243** | **4,129** | [Notes to the Consolidated Financial Statements](index=61&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes to the financial statements provide detailed explanations of the company's accounting policies, key accounting estimates, and various financial statement items, including the assessment of going concern, segmental information, high customer and geographical concentration, impairment assessment details for receivables, and comprehensive disclosures on financial instruments and risk management [Note 2: Basis of Preparation (Going Concern)](index=61&type=section&id=Note%202%3A%20Basis%20of%20Preparation%20%28Going%20Concern%29) This note explains the basis of financial statement preparation, focusing on the going concern assumption, highlighting that the Group's annual loss, extremely low cash balance (approximately HKD 243 thousand), and high current borrowings (approximately HKD 148 million) constitute material uncertainties that may cast significant doubt on its ability to continue as a going concern, despite management's implemented countermeasures - Management acknowledges material uncertainties that could affect going concern but has formulated countermeasures, including cost control and new financing plans[233](index=233&type=chunk)[260](index=260&type=chunk) [Note 5: Segmental Information](index=96&type=section&id=Note%205%3A%20Segmental%20Information) The Group is segmented into supply chain management and ocean fishing, with all revenue (HKD 398 million) for the current year derived solely from supply chain management services, no revenue contribution from ocean fishing, and the vast majority of revenue originating from mainland China, indicating high customer concentration with 92% from the largest single customer Segment Revenue (HKD Thousand) | Segment | 2024 Fiscal Year | 2023 Fiscal Year | | :--- | :--- | :--- | | Supply Chain Management Services | 398,173 | 225,855 | | Ocean Fishing | 0 | 0 | | **Total** | **398,173** | **225,855** | - Revenue from Customer A (supply chain management business) was **HKD 365 million**, accounting for **91.6%** of total revenue[444](index=444&type=chunk) [Note 16 & 17: Trade, Other, and Loan Receivables](index=113&type=section&id=Note%2016%20%26%2017%3A%20Trade%2C%20Other%2C%20and%20Loan%20Receivables) As of the reporting period end, net trade receivables amounted to HKD 329 million, net other receivables to HKD 491 million, and net loan and interest receivables to HKD 11.68 million, with the company having made loss provisions of HKD 555 million for trade receivables and HKD 21.23 million for loan receivables, reflecting a prudent assessment of credit risk Summary of Key Receivables (HKD Thousand) | Item | Gross Carrying Amount | Loss Allowance | Net Carrying Amount | | :--- | :--- | :--- | :--- | | Trade Receivables | 883,813 | (555,247) | 328,566 | | Other Receivables | 553,251 | (61,810) | 491,441 | | Loan and Interest Receivables | 32,909 | (21,229) | 11,680 | [Note 32: Financial Risk Management](index=132&type=section&id=Note%2032%3A%20Financial%20Risk%20Management) This note details the Group's primary financial risks, including credit risk, interest rate risk, liquidity risk, and currency risk, with significant credit risk arising from highly concentrated trade receivables, where the top five customers account for 99% of the total, and the Group employs an Expected Credit Loss (ECL) model for impairment assessment - The Group faces significant credit risk, primarily stemming from highly concentrated trade receivables, with **99%** from the top five customers[871](index=871&type=chunk)[877](index=877&type=chunk) - The Group uses an Expected Credit Loss (ECL) model to assess trade receivable impairment, setting different expected loss rates based on overdue status[874](index=874&type=chunk)[880](index=880&type=chunk)