Financial Performance - The company's revenue for the fiscal year 2024 was approximately HKD 54.9 million, a decrease of about 3.5% from HKD 56.9 million in fiscal year 2023[14]. - The revenue breakdown shows that HKD 50.175 million (91.4%) came from the Hong Kong Stock Exchange, while HKD 4.206 million (7.7%) was from over-the-counter transactions[16]. - Other income increased from HKD 692,000 in fiscal year 2023 to approximately HKD 1.4 million in fiscal year 2024, representing a growth of about 102.3% due to increased bank interest income[18]. - The decrease in revenue was primarily attributed to a reduction in trading volume in both over-the-counter and Hong Kong Stock Exchange transactions[15]. - The group recorded a profit of approximately HKD 1.9 million in FY2024, down from HKD 3.9 million in FY2023, primarily due to decreased revenue and increased depreciation and operating expenses[23]. - Cash and bank balances were approximately HKD 57.6 million as of March 31, 2024, compared to HKD 54.6 million as of March 31, 2023[25]. - The current ratio improved to approximately 14.3 times as of March 31, 2024, compared to 10.1 times as of March 31, 2023, indicating strong financial health[25]. Cost Management - Employee costs decreased from approximately HKD 36.5 million in FY2023 to about HKD 35.2 million in FY2024, a reduction of approximately 3.6%[19]. - Depreciation increased from approximately HKD 126,000 in FY2023 to HKD 1.5 million in FY2024, an increase of approximately 1,090.5%[20]. - Other operating expenses rose from approximately HKD 17.2 million in FY2023 to about HKD 17.4 million in FY2024, an increase of approximately 1.2%[21]. - Marketing expenses increased to approximately HKD 1.9 million in FY2024, up from about HKD 1.4 million in FY2023, representing a rise of approximately 35.7%[21]. Strategic Initiatives - The company aims to expand its product portfolio and establish strategic partnerships to drive growth and create value for customers and shareholders[9]. - The company is focused on cost control while enhancing the necessary technology to provide tailored services to clients[9]. - The company has expressed optimism about future business opportunities despite the challenging economic environment in Hong Kong[9]. - The company is actively expanding its market presence and client base in Asia and Europe, aiming to enhance its competitive edge in the derivatives market[49]. - The management team is focused on compliance and risk management, ensuring adherence to regulatory standards and internal controls[45]. Corporate Governance - The company has adhered to all principles outlined in the corporate governance code for the fiscal year 2024[75]. - The board consists of four executive directors and three independent non-executive directors, complying with GEM listing rules[78]. - The company’s board is responsible for leading, controlling, and managing the company, ensuring effective operations and growth[76]. - The board has a clear division of responsibilities between the chairman and the CEO to maintain balanced judgment[83]. - The company has established mechanisms to ensure independent opinions and advice are available to the board[79]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and corporate social responsibility, as outlined in its Environmental, Social, and Governance (ESG) report for the fiscal year 2023-2024[128]. - The total greenhouse gas emissions for the fiscal year 2024 were 41.20 tons of CO2 equivalent, a decrease of 10% from 45.73 tons in fiscal year 2023[144]. - The company has set multiple ESG performance goals and indicators, which will be reviewed annually to ensure alignment with overall ESG performance[142]. - The board of directors is directly responsible for overseeing ESG-related issues, including the establishment and review of ESG goals and strategies[138]. - The company has implemented policies to regulate waste management and the use of water, energy, and resources in its operations[143]. Employee Management - Employee count increased from 26 in FY2023 to 27 in FY2024, with a turnover rate reduced from 15% to 8%[157]. - Average training hours per employee were 3 hours for females (30% trained) and 6 hours for males (59% trained) in FY2024[158]. - The company maintains a competitive compensation structure, ensuring fair treatment based on skills and contributions, with annual performance evaluations conducted[159]. - All employees are required to follow strict health and safety policies, with regular safety checks conducted to ensure compliance[163]. Risk Management - The board is responsible for risk management and internal control systems, which are designed to manage risks rather than eliminate them[115]. - The company has established risk management procedures and guidelines, conducting annual self-assessments to ensure compliance with monitoring policies[116]. - No significant internal control deficiencies were reported in fiscal year 2024, indicating effective risk management practices[116]. Shareholder Communication - The company emphasizes effective communication with shareholders, ensuring transparency and timely disclosure of information to facilitate informed investment decisions[121]. - The company has a shareholder communication policy that is regularly reviewed for effectiveness, with measures in place to provide quality information on developments[121]. Dividend Policy - The company does not recommend the payment of any final dividend for the fiscal year 2024, consistent with the previous fiscal year 2023, which also had no dividend declared[182]. - The company maintains a dividend policy that requires sufficient cash reserves to meet operational needs and future business growth, with no predetermined payout ratio[183].
衍汇亚洲(08210) - 2024 - 年度财报