Financial Performance - Revenue for the year ended March 31, 2024, was HKD 49,549,000, representing an increase of 9.4% from HKD 45,181,000 in 2023[2] - Gross profit for the same period was HKD 35,742,000, up from HKD 31,481,000, indicating a growth of 13.5%[2] - Operating loss decreased significantly to HKD 5,731,000 from HKD 20,955,000, showing an improvement of 72.7%[2] - The company reported a loss before tax of HKD 6,232,000, compared to a loss of HKD 21,586,000 in the previous year, marking a reduction of 71.1%[2] - Total comprehensive loss attributable to shareholders for the year was HKD 6,292,000, down from HKD 21,812,000, reflecting a decrease of 71.2%[3] - Basic and diluted loss per share improved to HKD 0.32 from HKD 1.11, indicating a significant reduction in losses per share[3] - The group reported a decrease in total financial expenses from HKD 631,000 in 2023 to HKD 501,000 in 2024[22] - The net loss for the group was approximately HKD 6,200,000, a significant reduction of about HKD 15,400,000 from the net loss of HKD 21,600,000 in the previous year[36] Assets and Liabilities - Non-current assets increased to HKD 3,185,000 from HKD 2,190,000, representing a growth of 45.3%[5] - Current assets rose to HKD 46,610,000, up from HKD 29,313,000, an increase of 59.0%[5] - The company's total liabilities increased to HKD 38,653,000 from HKD 10,961,000, reflecting a significant rise of 252.5%[5] - The equity attributable to shareholders decreased to HKD 6,273,000 from HKD 12,565,000, a decline of 50.0%[5] Revenue Sources - The group reported revenue from operating Chinese restaurants of HKD 49,549,000 for 2024, an increase of 9.3% from HKD 45,181,000 in 2023[14] - Other income decreased to HKD 1,845,000 in 2024 from HKD 3,899,000 in 2023, primarily due to a reduction in government subsidies[16] - The group has approximately HKD 252,258,000 in unused tax losses available to offset future profits as of the reporting date[25] - The group’s receivables from restaurant operations increased to HKD 510,000 in 2024 from HKD 180,000 in 2023[27] Employee and Operational Costs - Employee costs totaled approximately HKD 23,400,000, an increase of about HKD 900,000 from HKD 22,500,000 in the previous year[39] - Other operating expenses rose to approximately HKD 13,700,000, compared to HKD 12,800,000 in the previous year, an increase of about HKD 900,000[43] - The group has approximately 90 employees as of March 31, 2024, with total employee costs reaching approximately HKD 23.4 million, up from HKD 22.5 million in 2023[54] Future Outlook and Strategic Decisions - The group expects the renovation of the Tsim Sha Tsui branch to generate additional revenue, despite challenges from rising food and service costs and labor shortages[50] - The group is actively seeking suitable investment opportunities to diversify its business and improve its operational status[50] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with some exceptions regarding the separation of roles between the chairman and CEO[59] - The audit committee has reviewed the financial reports, including the consolidated accounts for the year ending March 31, 2024[60] - All directors confirmed compliance with the standard code for securities trading during the year ending March 31, 2024[61] Shareholder Information - The board has decided not to declare any final dividend for the year ending March 31, 2024, consistent with the previous year[55] - The company will suspend shareholder registration from August 13 to August 16, 2024, to determine eligibility for the upcoming annual general meeting[56] - There were no purchases, sales, or redemptions of the company's shares during the year[57] Financial Reporting - The final results announcement will be published on the company's website and the Hong Kong Stock Exchange website[63] - The company expresses gratitude to the management and employees for their efforts and contributions during the year[64]
环科国际(00657) - 2024 - 年度业绩