Financial Performance - Revenue for the fiscal year ending June 30, 2024, was RMB 168.6 million, representing a 53.3% increase from RMB 110.0 million in the previous year[2] - The company reported a loss attributable to shareholders of RMB 25.6 million, a 56.4% improvement compared to a loss of RMB 58.7 million in the prior year[2] - Total assets decreased by 14.9% to RMB 160.1 million from RMB 188.1 million year-over-year[3] - The net cash and cash equivalents fell by 35.6% to RMB 16.8 million from RMB 26.1 million[3] - The current ratio improved by 88.9% to 5.1 from 2.7 in the previous year, indicating better short-term financial health[3] - Other income and gains amounted to approximately RMB 5.1 million, compared to RMB 4.8 million in the previous year, mainly from government subsidies and interest income from receivables[24] - The company reported a loss attributable to owners of approximately RMB 25.6 million for the year ending June 30, 2024, a decrease from RMB 58.7 million in 2023, primarily due to the absence of impairment losses on result plants and gains from financial assets[34] - The company has no reserves available for distribution as of June 30, 2024, mirroring the situation from the previous year[65] - The company does not recommend a final dividend for the year ending June 30, 2024, consistent with the previous year[41] Business Operations - The company shifted its focus in the planting business to passion fruit, aiming to improve fruit quality and yield without significant resource investment[9] - The distribution business recorded significant year-on-year revenue growth, contributing positively to the overall financial performance[10] - The fruit distribution business generated revenue of approximately RMB 106.5 million, up 91.5% from RMB 55.6 million in the previous year, primarily due to the acquisition of Shaanxi Pinshang Agricultural Products Trading Co., Ltd.[22] - The air conditioning distribution business achieved revenue of approximately RMB 60.8 million, a 13.1% increase from RMB 53.8 million in the previous year, driven by market expansion in Shenzhen[23] - The planting business, focusing on passion fruit cultivation, recorded revenue of approximately RMB 1.3 million, up 98.9% from RMB 0.7 million in the previous year[20] - The group anticipates continued growth in domestic consumption in China, driven by an expanding middle class, despite competitive pressures and price sensitivity in the market[17] - The group aims to enhance operational efficiency and gradually expand its business scale in the air conditioning distribution sector, which is becoming a necessity for Chinese households[17] Strategic Initiatives - The company successfully raised approximately HKD 15.5 million through a rights issue in the second half of 2023 to support business development[6] - The company aims to optimize resource allocation by reallocating funds initially intended for a distribution center to enhance the planting business in Guangxi Province[9] - The board will continue to seek suitable market opportunities while managing operations effectively to improve overall profitability and shareholder returns[16] - The company announced a proposed rights issue at a subscription price of HKD 0.035 per share, aiming to raise up to approximately HKD 43.7 million[43] - The planned use of the rights issue proceeds includes HKD 7.13 million for inventory purchases and HKD 1.38 million for repaying bank loans[90] Risk Management - The company is maintaining flexibility in its overall strategy to respond to economic risks and geopolitical tensions[11] - The company faces risks from climate change and natural disasters that could significantly impact the productivity of its fruit plantations, ultimately affecting revenue and financial performance[35] - The management acknowledges the challenges faced in the planting business due to external factors such as weather and pests, and is implementing tailored solutions to mitigate these risks[18] Corporate Governance - The board consists of five members, including one executive director, one non-executive director, and three independent non-executive directors[116] - The company has established a remuneration committee to review and approve the overall remuneration policy and compensation packages for executive directors and senior management[101] - The company has received annual independence confirmations from all independent non-executive directors, and the board considers them to be independent[73] - The company has established three committees: audit, nomination, and remuneration, each with specific responsibilities[133] - The board has established a mechanism for assessing its independence, with satisfactory results from the annual review[125] - The company emphasizes transparency and accountability to investors and shareholders through its governance practices[113] Environmental, Social, and Governance (ESG) - The company is committed to complying with all local environmental laws and regulations while promoting environmental awareness among employees and business partners[185] - The company has invested in energy-saving technologies, such as solar installations and building design improvements, to reduce energy and fuel consumption[195] - The company aims to minimize adverse environmental impacts while maximizing shareholder returns through effective resource utilization and cost reduction[1] - The company identified key ESG areas for the 2023/2024 fiscal year, including air emissions, resource usage, and health and safety[175] - The management team regularly assesses ESG activities and reports to the board for approval and implementation, ensuring compliance with relevant laws and regulations[169] Employee and Talent Management - The company has adopted a competitive compensation scheme to attract and retain talent, with 61 long-term employees as of June 30, 2024, up from 59 in 2023[52] - The remuneration committee has adopted a competitive compensation policy for directors and senior executives, balancing fixed and variable remuneration to attract and retain talent[138] - As of June 30, 2024, the annual remuneration for senior management (excluding directors) is categorized, with one individual earning up to RMB 1 million[142] Shareholder Engagement - The company maintains a shareholder communication policy to ensure transparency and interaction with shareholders, utilizing various channels such as press releases and reports[154] - Stakeholder engagement is prioritized, with various communication channels established to gather feedback and address concerns from shareholders, employees, customers, and suppliers[172]
亚洲果业(00073) - 2025 - 年度财报