Financial Performance - Revenue for the year ended March 31, 2024, was HKD 211,845,000, a decrease of 8.5% from HKD 231,557,000 in the previous year[3] - Gross profit for the same period was HKD 45,316,000, down 10.3% from HKD 50,648,000[3] - The company reported a net loss of HKD 19,084,000 for the year, compared to a profit of HKD 2,341,000 in the previous year[5] - Basic and diluted earnings per share for the year were HKD (7.45), compared to HKD 0.40 in the previous year[3] - Total comprehensive loss for the year was HKD 38,521,000, compared to a loss of HKD 20,801,000 in the previous year[5] - The company reported a pre-tax profit of HKD 2,382,000 for the year ended March 31, 2024, compared to a pre-tax profit of HKD 5,934,000 in the previous year, reflecting a decline of 59.9%[33] - The company recorded other income of HKD 3,258,000 for the year ended March 31, 2024, compared to HKD 3,771,000 in the previous year, a decline of 13.6%[33] Assets and Liabilities - Non-current assets decreased to HKD 460,893,000 from HKD 503,021,000 year-on-year[7] - Current assets remained stable at HKD 150,547,000, slightly up from HKD 150,540,000[7] - The company's total assets as of March 31, 2024, were HKD 611,440,000, down from HKD 653,561,000 in the previous year, representing a decrease of 6.5%[25][27] - The total liabilities of the company as of March 31, 2024, were HKD 66,873,000, a decrease from HKD 69,393,000 in the previous year, indicating a reduction of 3.6%[25][27] - Total equity attributable to the company's owners decreased to HKD 537,837,000 from HKD 576,626,000[8] Segment Performance - Total revenue for the trading segment was HKD 167,203,000, with external sales of HKD 157,525,000[22] - The restaurant segment generated revenue of HKD 50,431,000, while the "other" segment contributed HKD 3,889,000, leading to a total revenue of HKD 221,588,000[23] - The overall loss before tax for the company was HKD 17,310,000, with segment losses of HKD 5,108,000 for trading, HKD 10,036,000 for restaurants, and a profit of HKD 1,821,000 from the "other" segment[23] - Sales from the trading segment amounted to HKD 157,525,000, down 6.0% from HKD 167,635,000 in the previous year[31] - Restaurant operations generated revenue of HKD 50,431,000, a decrease of 16.0% from HKD 60,028,000 in the previous year[31] Cost and Expenses - The company incurred financing costs of HKD 2,231,000, an increase from HKD 1,409,000 in the previous year[3] - The company reported a significant increase in administrative expenses to HKD 28,175,000 from HKD 23,821,000[3] - Capital expenditures for the year were HKD 65,000, a significant decrease from HKD 7,044,000 in the previous year, indicating a reduction of 99.2%[25][27] - The company reported a tax expense of HKD 1,774,000 for the year, a significant increase from HKD 41,000 in 2023[41] Customer and Market Insights - The company had a major customer, Customer A, whose sales accounted for over 10% of total revenue, generating HKD 49,199,000 in the current year compared to HKD 30,502,000 in the previous year, an increase of 61.5%[30] - The company experienced a significant 32% increase in sales from chain fast food outlets during the reporting period, contributing to higher gross margins[54] - The company has expanded its product range in the frozen meat trade division, including the introduction of the "Snow Dream Pig" brand from Hokkaido, Japan, to meet increasing market demand[54] Strategic Focus and Governance - The company aims to focus on cost control, supply chain optimization, and the development of new products to adapt to changing consumer preferences[55] - The group plans to expand its sales network overseas and broaden its product offerings to meet diverse customer needs in response to changing market demands[61] - The group aims to maintain flexibility in procurement and adjust sales strategies to mitigate the impact of rising operating costs due to ongoing inflation[61] - The group will focus on marketing and digital media business development to attract new clients while maintaining existing customer relationships[58] - The group has introduced promotional activities on social media and invested in advertising in mainland China to enhance brand reputation and customer base[56] - The group emphasizes good corporate governance principles, ensuring transparency and accountability to all shareholders[67] - The audit committee consists of three independent non-executive directors, including Mr. Zhang Rongcai as the chairman[69] Employee and Operational Insights - The total number of employees as of March 31, 2024, is 67, with salaries reviewed annually based on performance and market conditions[65] - The group has implemented strict cost control measures and streamlined kitchen operations to improve operational efficiency amid challenging market conditions[56] Reporting and Communication - The company has adopted new and revised Hong Kong Financial Reporting Standards for the current financial year, impacting accounting policies and disclosures[15] - The annual report for the fiscal year ending March 31, 2024, will be distributed to shareholders and published on the company's website[72] - The chairman expressed gratitude to shareholders and business partners for their support and trust in the management team[73]
香港食品投资(00060) - 2024 - 年度业绩