Financial Performance - The total revenue for the year was approximately HKD 1,234.3 million, an increase of about HKD 67.5 million or 5.8% compared to the previous year[4]. - The profit and total comprehensive income for the year increased by approximately HKD 3.1 million or 9.2% to about HKD 36.2 million from approximately HKD 33.2 million in the previous year[4]. - Basic earnings per share for the year were HKD 0.12, compared to HKD 0.11 in the previous year[4]. - Gross profit for the year was HKD 144.96 million, up from HKD 121.57 million in the previous year[5]. - The pre-tax profit for the year was HKD 43,757,000, an increase from HKD 38,735,000 in the previous year, representing a growth of approximately 5.2%[33]. - The company reported a basic earnings per share of HKD 0.122, up from HKD 0.110 in the previous year, reflecting an increase of about 10.9%[38]. - The net profit attributable to shareholders for the year was HKD 36,228,000, compared to HKD 33,179,000 in the previous year, reflecting an increase of about 9.2%[38]. Dividends - The group decided not to recommend a final dividend for the year to shareholders[4]. - The company declared an interim dividend of HKD 0.02 per share for the fiscal year 2024, down from HKD 0.045 per share in the previous year, reflecting a decrease of approximately 55.6%[37]. - The company has not declared a final dividend for the year, compared to a dividend of HKD 0.025 per share in the previous year[75]. Assets and Liabilities - Current assets totaled HKD 503.25 million, compared to HKD 497.76 million in the previous year[6]. - Current liabilities increased to HKD 331.71 million from HKD 297.88 million in the previous year[6]. - The net asset value decreased to HKD 181.31 million from HKD 212.47 million in the previous year[6]. - Trade receivables from customer contracts increased to HKD 159,381,000, compared to HKD 117,628,000 in the previous year, marking a growth of approximately 35.5%[41]. - The total amount of trade and other receivables, deposits, and prepayments reached HKD 187,842,000, up from HKD 148,146,000, indicating a rise of about 26.7%[41]. - The company’s trade payables increased to HKD 170,455,000 from HKD 165,958,000, showing a slight increase of approximately 0.3%[44]. - The company’s deferred tax liabilities for the year were HKD 7,529,000, compared to HKD 5,559,000 in the previous year, indicating an increase of approximately 35.4%[32]. - Contract liabilities as of March 31, 2024, were HKD 99,020,000, an increase from HKD 87,209,000 in the previous year[10]. Segment Performance - For the fiscal year ending March 31, 2024, the total revenue from the IT infrastructure solutions segment was HKD 1,088,767,000, while the IT management services segment generated HKD 145,567,000, leading to a total revenue of HKD 1,234,334,000[27]. - The segment performance showed a profit of HKD 64,532,000 from the IT infrastructure solutions segment and HKD 14,179,000 from the IT management services segment, resulting in a total segment profit of HKD 78,711,000[27]. - For the fiscal year ending March 31, 2024, total segment revenue reached HKD 1,166,848,000, with IT infrastructure solutions contributing HKD 1,033,933,000 and IT management services contributing HKD 132,915,000[29]. - Revenue from the IT infrastructure solutions segment was approximately HKD 1,088.8 million, up about HKD 54.9 million or 5.3% year-on-year[56]. - The gross profit margin for the IT infrastructure solutions segment was approximately 10.6%, while the IT management services segment had a gross profit margin of about 20.3%[60]. Operational Changes and Strategies - The company plans to establish two wholly-owned subsidiaries in Shanghai, China, with registered capital of RMB 60 million and RMB 10 million, respectively, to advance its AI strategy in the Chinese market[84]. - The company aims to enhance operational efficiency and reduce costs by adopting advanced software and AI technologies[80]. - The company will continue to focus on core business and partnerships with major sellers to minimize future financial risks[82]. - The company anticipates continued challenges in the operating environment in Hong Kong, prompting management to take proactive measures to improve operations and performance[54]. Governance and Compliance - The company has adhered to the corporate governance code throughout the year, except for the separation of the roles of Chairman and CEO, which is currently not implemented[86]. - All directors confirmed full compliance with the standard code for securities trading during the year[87]. - The audit committee, composed of three independent non-executive directors, has reviewed the annual performance and ensured compliance with applicable accounting standards[90]. - The annual performance announcement is available on the Hong Kong Stock Exchange and the company's website, containing all relevant information as per listing rules[92]. Accounting Standards - The group has adopted new Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position or performance for the year[12]. - The application of the revised Hong Kong Accounting Standards did not have a significant impact on the group's financial position and performance[16]. - The group has not adopted any new accounting standards that have been issued but are not yet effective, indicating no expected significant impact on the consolidated financial statements in the foreseeable future[23]. - The group has implemented changes in accounting policies due to the cancellation of the offsetting mechanism for mandatory provident fund contributions and long service payments, effective from May 1, 2025[19]. - The group has recognized cumulative adjustments related to service costs and interest expenses for the year ending December 31, 2022, due to changes in long service payment obligations[20]. - The group’s financial statements reflect the impact of the new accounting guidelines issued by the Hong Kong Institute of Certified Public Accountants regarding long service payment obligations[19]. Employee Costs - Total employee costs for the year amounted to HKD 121,431,000, an increase from HKD 108,663,000 in the previous year, representing a growth of about 11.7%[35]. - The total employee costs, including directors' remuneration, amounted to approximately HKD 121.4 million, an increase from HKD 108.7 million in the previous year[73]. Capital Expenditure and Borrowings - The total capital expenditure for the year was approximately HKD 0.2 million, significantly lower than HKD 2.5 million in the previous year[67]. - As of March 31, 2024, the group's total bank borrowings amounted to approximately HKD 11 million, with an interest rate of 6.69% per annum[63]. - The group's net current assets as of March 31, 2024, were approximately HKD 171.5 million, down from HKD 199.9 million as of March 31, 2023[65]. - The group's cash and cash equivalents were approximately HKD 159.8 million as of March 31, 2024, compared to HKD 248.3 million as of March 31, 2023[65]. - As of March 31, 2024, the leverage ratio was 6.17%, calculated based on interest-bearing bank loans divided by total equity[68]. Share Transactions - The company has engaged in significant share transactions, resulting in changes in major shareholders[8][9]. - The company repurchased 27,258,000 ordinary shares at an average price of HKD 1.10 per share, totaling approximately HKD 29,892,000[51].
美高域(01985) - 2024 - 年度业绩