Financial Performance - For the fiscal year ending March 31, 2024, the group's revenue was approximately HKD 91,254,000, a decrease of about HKD 17,070,000 compared to the previous year[1]. - The group's gross profit for the fiscal year ending March 31, 2024, was approximately HKD 18,846,000, down by HKD 864,000 from the previous year[1]. - The group recorded a loss of approximately HKD 76,095,000 for the fiscal year ending March 31, 2024, compared to a loss of HKD 43,386,000 for the fiscal year ending March 31, 2023, primarily due to increased impairment losses and losses from discontinued operations[1]. - The total comprehensive loss for the year was HKD 77,665,000, compared to HKD 44,883,000 in the previous year[10]. - The basic and diluted loss per share from continuing and discontinued operations was HKD 4.73, compared to HKD 2.25 in the previous year[13]. - The company reported a pre-tax loss of HKD 10,651 million for the year ended March 31, 2023[51]. - The pre-tax loss for the year ending March 31, 2024, is projected to be HKD 51,537 million[60]. - The group reported a loss before tax of HKD 51,378,000, compared to a profit of HKD 10,651,000 in the previous year, reflecting a negative swing of approximately 584.5%[71]. - The group reported a net loss attributable to the owners of the company of HKD 68,926,000 for the year, which is a 109.83% increase compared to the previous year's loss of HKD 32,792,000[195]. Dividends and Recommendations - The board of directors does not recommend the payment of any dividends for the fiscal year ending March 31, 2024[1]. - The company does not recommend a dividend distribution for the year ended March 31, 2024[124]. Impairment and Losses - The impairment losses recognized under the expected credit loss model increased significantly to HKD 23,803,000 from HKD 4,056,000 in the previous year[10]. - The company reported a total of HKD 23,803 million in impairment losses recognized, net of reversals, for the year ending March 31, 2024[66]. - The impairment loss recognized under the expected credit loss model for the year ended March 31, 2024, was approximately HKD 23,803,000, significantly higher than HKD 4,056,000 for the previous year[140]. Assets and Liabilities - Non-current assets totalled HKD 242,495 thousand, a significant increase from HKD 16,100 thousand in the previous year[22]. - Current assets decreased to HKD 122,697 thousand from HKD 179,596 thousand, reflecting a decline of approximately 31.6%[22]. - Current liabilities totalled HKD 41,100 thousand, down from HKD 71,320 thousand, indicating a reduction of about 42.4%[22]. - The net asset value decreased to HKD 81,597 thousand from HKD 108,276 thousand, representing a decline of approximately 24.8%[23]. - The total liabilities as of March 31, 2024, are projected to be HKD 41,100 million, a significant decrease from HKD 129,534 million in the previous year[63]. - The company's total liabilities decreased significantly, reflecting improved financial health and operational efficiency[22]. Equity and Share Capital - The total equity increased to HKD 324,092 thousand from HKD 66,162 thousand, showing a substantial growth of approximately 388.5%[23]. - The total equity increased by approximately HKD 257,930,000 to about HKD 324,092,000 as of March 31, 2024, compared to HKD 66,162,000 as of March 31, 2023[147]. - The total equity of the group as of March 31, 2024, is approximately HKD 324,092,000, a decrease of about 390% compared to HKD 66,162,000 as of March 31, 2023[158]. Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 15,248 thousand from HKD 46,886 thousand, a decline of about 67.5%[22]. - The group's cash and cash equivalents totaled approximately HKD 15,248,000 as of March 31, 2024, down from HKD 46,886,000 as of March 31, 2023[158]. - The company reported a net cash inflow of HKD 44,137,000 for the year, compared to a net cash outflow of HKD 23,982,000 in the previous year[109]. Operational Changes and Acquisitions - The company completed the acquisition of Shenzhen Langhua Property Services Co., Ltd. on October 5, 2023, enhancing its property management services[31]. - The company completed the sale of 3,794 ordinary shares of Zhilang Holdings, resulting in the loss of control over its fintech business[15]. - The company completed the sale of an 18.9% stake in Zhilang Holdings Limited on October 5, 2023, with a fair value of approximately HKD 240,994,000 as of March 31, 2024[124]. Business Segments and Revenue Sources - The company is involved in gold and jewelry, lending, and property management services, with some operations being discontinued[50]. - The revenue from the gold and jewelry business decreased from approximately HKD 88,928,000 to about HKD 71,810,000, a reduction of approximately HKD 17,118,000, primarily due to a decline in wholesale of gold jewelry products in China[95]. - The property management services revenue increased from approximately HKD 16,226,000 to about HKD 16,983,000, an increase of approximately HKD 757,000, driven by growth in property management service income[115]. Financial Ratios - The current ratio as of March 31, 2024, is 2.99, an increase from 2.52 as of March 31, 2023[158]. - The quick ratio as of March 31, 2024, is 2.92, up from 2.28 as of March 31, 2023[158]. - The asset-to-liability ratio as of March 31, 2024, is 4.70%, a significant decrease from 31.69% as of March 31, 2023[158]. Administrative and Employee Expenses - The group’s administrative expenses increased to HKD 43,301,000 from HKD 16,967,000, marking an increase of approximately 155.5%[71]. - The group’s employee benefits expenses, including director remuneration, totaled HKD 29,121,000, up from HKD 8,456,000, indicating a rise of approximately 244.5%[84]. Risk Management and Compliance - The company has established a robust risk management and internal control system to protect assets and ensure compliance with laws and regulations[169]. - The Audit Committee has reviewed the audited financial statements for the year ending March 31, 2024, confirming compliance with applicable accounting standards and GEM listing rules[172].
朗华国际集团(08026) - 2024 - 年度业绩