Financial Performance - For the fiscal year ending March 31, 2024, the group's revenue increased by approximately HKD 26.33 million or 9.17% to approximately HKD 313.39 million from approximately HKD 287.06 million for the year ending March 31, 2023[6]. - The increase in total revenue was primarily due to a rise in installation service revenue by approximately HKD 19.76 million and an increase in alteration and addition works revenue by approximately HKD 6.52 million[6]. - Profit attributable to equity holders increased to approximately HKD 5.08 million from approximately HKD 4.86 million for the year ending March 31, 2023[6]. - The gross profit for the year was approximately HKD 33.24 million, compared to approximately HKD 31.97 million in the previous year, reflecting an increase in gross profit margin[7]. - Basic and diluted earnings per share for the year were 0.42 cents, compared to 0.40 cents for the previous year[7]. - The company's annual profit for 2024 was HKD 5,078,000, compared to HKD 4,856,000 in 2023, reflecting an increase of 4.56%[65]. - The company's net profit attributable to the owners increased by approximately HKD 0.22 million or 4.53% to about HKD 5.08 million, mainly due to higher gross profit from core business activities[97]. Dividends - The board of directors did not recommend the payment of a final dividend for the reporting period, consistent with the previous year[6]. - The company did not declare any final dividend for the reporting period, compared to HKD 6,000,000 in 2023[66]. Assets and Liabilities - Total assets as of March 31, 2024, amounted to approximately HKD 289.84 million, compared to approximately HKD 265.50 million as of March 31, 2023[8]. - Current liabilities increased to approximately HKD 145.02 million from approximately HKD 119.82 million in the previous year, indicating a rise in operational obligations[8]. - The net asset value of the company increased to approximately HKD 156.86 million from approximately HKD 151.61 million year-on-year[8]. - The total current liabilities after reclassification will be HKD 119,819, down from HKD 120,873[40]. - The net current assets will increase to HKD 145,676, up from HKD 144,622 due to the reclassification[40]. - The total non-current liabilities will rise to HKD 2,884, reflecting the reclassification of long service payment liabilities[40]. - The group's debt amounted to approximately HKD 52.55 million, an increase from HKD 39.05 million in 2023, with a debt-to-equity ratio of approximately 33.50%[99]. Revenue Segmentation - Revenue from installation services for the year ended March 31, 2024, was HKD 200,090, an increase of 10.4% from HKD 180,329 in 2023[53]. - Revenue from alteration and addition works was HKD 105,150, up from HKD 98,627, reflecting a growth of 6.5%[53]. - The group operates three reportable segments: installation services, alteration and addition works, and maintenance services, each requiring distinct business strategies[48]. Expenses - The cost of revenue rose by approximately HKD 25.06 million or 9.82% to about HKD 280.15 million, influenced by factors such as the Russia-Ukraine war and U.S.-China trade tensions, which disrupted global supply chains[89]. - Administrative and other operating expenses increased by approximately HKD 0.61 million, while financing costs rose by about HKD 0.65 million, offsetting some of the profit gains[81]. - The total employee benefits expense increased to HKD 37,915,000 in 2024 from HKD 36,142,000 in 2023, reflecting a growth of 4.89%[58]. - Financing costs increased to approximately HKD 2.15 million from HKD 1.50 million, attributed to higher bank loan interest due to increased borrowing for operations[94]. Financial Reporting Standards - The adoption of Hong Kong Financial Reporting Standard 17 has no impact on the group's consolidated financial statements[12]. - The revisions to Hong Kong Accounting Standard 1 and Practice Note 2 enhance the richness of accounting policy disclosures without affecting the measurement or presentation of any items in the consolidated financial statements[13][14]. - The changes in Hong Kong Accounting Standard 8 clarify the definition of accounting estimates, but do not significantly impact the consolidated financial statements[16]. - The revisions to Hong Kong Accounting Standard 12 introduce additional standards for initial recognition exemptions, affecting the disclosure of deferred tax assets and liabilities but not the overall deferred tax balance[17]. - The group plans to adopt the revised Hong Kong Financial Reporting Standards, effective from April 1, 2024, but does not expect significant impact on the consolidated financial statements[25]. Share Capital and Governance - The total issued share capital as of March 31, 2024, is 1,200,000,000 shares[130]. - The company has adopted the corporate governance code as per GEM listing rules and has complied with it during the reporting period[131]. - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements and confirmed compliance with applicable accounting standards[135]. - The company did not purchase, sell, or redeem any shares during the reporting period[134]. Employee and Management - The group employed 116 staff as of March 31, 2024, with employee costs in Hong Kong amounting to approximately HKD 15.88 million, up from HKD 14.22 million in 2023[111]. - The chairman and CEO, Mr. Pan Zhengqiang, has over 36 years of experience in the fire and pump installation services sector[131]. - The company expresses gratitude to its customers, suppliers, business partners, shareholders, and employees for their support and contributions during the year[139].
荧德控股(08535) - 2024 - 年度业绩