Financial Performance - The total revenue for the year ended September 30, 2024, was HKD 736,676,000, an increase of 9.1% compared to HKD 671,466,000 for the year ended September 30, 2023[2]. - The gross profit for the year was HKD 13,382,000, down from HKD 23,271,000, indicating a decline of 42.4%[2]. - The net loss for the year was HKD 16,764,000, a slight improvement from a net loss of HKD 18,814,000 in the previous year, representing a reduction of 10.9%[2]. - Basic loss per share for the year was HKD 0.95, compared to HKD 3.24 in the previous year, reflecting a significant improvement[2]. - For the fiscal year ending September 30, 2024, the company's revenue was approximately HKD 736.7 million, an increase of about HKD 65.2 million or 9.7% compared to the fiscal year 2023[62]. - The gross profit decreased by approximately HKD 10 million, leading to a gross profit margin reduction from 3.5% in fiscal year 2023 to 1.8% in fiscal year 2024 due to increased labor costs[62]. Assets and Liabilities - Trade receivables increased to HKD 109,639,000 from HKD 88,536,000, marking a rise of 23.8%[3]. - Current assets decreased to HKD 329,007,000 from HKD 361,879,000, a decline of 9.1%[3]. - Total liabilities decreased to HKD 62,193,000 from HKD 78,817,000, a reduction of 21.3%[5]. - The company's total equity decreased to HKD 273,313,000 from HKD 287,925,000, a decline of 5.1%[5]. - Non-current assets decreased to HKD 8,685,000 from HKD 6,314,000, an increase of 37.5%[3]. - The total trade receivables, net of credit loss provisions, amounted to HKD 109.639 million in 2024, compared to HKD 88.536 million in 2023[50]. - Trade payables totaled HKD 7.902 million in 2024, a decrease from HKD 27.676 million in 2023[57]. - Other payables and accrued expenses were HKD 22.401 million in 2024, down from HKD 26.378 million in 2023[59]. Revenue Sources - Service revenue from electrical and maintenance engineering services for the year ending September 30, 2024, is reported at HKD 736,676,000, an increase from HKD 671,466,000 in the previous year[19]. - For the year ended September 30, 2023, total revenue from electrical and maintenance engineering services was HKD 671,466,000, with a loss of HKD 4,666,000 reported[27]. - Major customers contributing over 10% of total revenue included Customer A with HKD 483,522,000 and Customer C with HKD 155,739,000 for the year ending September 30, 2024[35]. Financial Standards and Reporting - The company has applied new Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements[8]. - The company has not early adopted any new Hong Kong Financial Reporting Standards that have been issued but are not yet effective[14]. - The application of the revised Hong Kong Accounting Standard No. 1 is expected to impact the disclosure of significant accounting policies but will not have a major effect on the financial position and performance of the group[12]. - The group is currently assessing the detailed impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements, which will be effective from January 1, 2027[17]. - The company anticipates that the application of the new standards will not have a significant impact on the consolidated financial statements in the foreseeable future[16]. Other Income and Expenses - Interest income for the year is recorded at HKD 2,014,000[25]. - Interest income for the year was HKD 594,000, while rental income from investment properties was HKD 839,000, reflecting a significant decrease from HKD 10,248,000 in administrative expenses[27]. - The company reported a significant increase in interest income to HKD 3,126,000 for the year ending September 30, 2024, up from HKD 1,148,000 in the previous year[36]. - The company reported a total of HKD 7,000,000 in other income and losses for the year ending September 30, 2024, compared to a loss of HKD 2,054,000 in the previous year[37]. - Other income for the fiscal year 2024 was approximately HKD 3.5 million, an increase of about HKD 0.8 million compared to fiscal year 2023, primarily due to rising bank interest rates[64]. - The net other income and losses for fiscal year 2024 was approximately HKD 7.0 million, compared to a net loss of approximately HKD 2.1 million in fiscal year 2023, mainly due to increased fair value gains on financial assets and gains from the sale of a subsidiary[65]. - Administrative expenses increased by approximately HKD 0.1 million or 0.3% in fiscal year 2024, primarily due to increased employee costs[66]. - Financial costs increased by approximately HKD 195,000 or 134% in fiscal year 2024, mainly due to a new warehouse lease agreement[67]. Cash Flow and Financial Position - As of September 30, 2024, the group had cash and bank balances of approximately HKD 136 million, down from HKD 171 million as of September 30, 2023[69]. - The group has no bank borrowings as of September 30, 2024, maintaining a net cash position[71]. - The group secured multiple contracts exceeding HKD 730 million, supported by ongoing government investments in construction projects, indicating confidence in future sales orders[73]. Employee and Operational Insights - The number of employees increased to 1,108 as of September 30, 2024, from 948 in the previous fiscal year, reflecting the company's commitment to quality and performance[74]. - The company completed major projects including the Hong Kong Sports Institute and the Immigration Department Headquarters, contributing to revenue growth post-COVID-19[62]. Corporate Actions - The company did not declare or recommend any dividends for the year ended September 30, 2024, consistent with the previous year[48]. - The company terminated discussions regarding investment in an electronic platform sales business due to insufficient financial data[61]. - The group completed the sale of a subsidiary for a total cash consideration of HKD 5 million, with net assets valued at approximately HKD 1.07 million as of March 31, 2024[77]. - The company will suspend the transfer of share registration from March 25, 2025, to March 28, 2025, to determine shareholder eligibility for the annual general meeting[92]. - Deloitte has confirmed that the figures in the preliminary announcement for the year ending September 30, 2024, align with the audited financial statements approved by the board on December 19, 2024[93]. - The annual report for the fiscal year 2024 will be sent to shareholders and published on the company's website at an appropriate time[94].
高丰集团控股(02863) - 2024 - 年度业绩