Financial Performance - For the fiscal year ending March 31, 2024, the revenue was approximately HKD 671.9 million, an increase of about 25.1% compared to HKD 537.3 million for the fiscal year ending March 31, 2023[4] - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 41.3 million, down from HKD 43.3 million for the fiscal year ending March 31, 2023[4] - The gross profit margin decreased to approximately 6.1% for the fiscal year ending March 31, 2024, compared to 8.1% for the fiscal year ending March 31, 2023[4] - The profit attributable to owners of the company for the fiscal year ending March 31, 2024, was approximately HKD 3.7 million, a decrease from HKD 9.8 million for the fiscal year ending March 31, 2023[4] - The earnings per share for the fiscal year ending March 31, 2024, was approximately HKD 0.4 cents, down from HKD 1.1 cents for the fiscal year ending March 31, 2023[4] - The group reported other income of HKD 1,680,000, a decrease from HKD 6,606,000 in the previous year, primarily due to the absence of government subsidies[27] - The annual profit for 2024 was HKD 3,699,000, a decrease of 62.4% compared to HKD 9,823,000 in 2023[34] - Other income significantly decreased to approximately HKD 1.7 million, a drop of about HKD 4.9 million or 74.2% from HKD 6.6 million in the previous year, primarily due to the absence of government subsidies[55] - The group recorded a net profit attributable to owners of approximately HKD 3.7 million, a decrease from HKD 9.8 million in the prior year, mainly due to the lack of government subsidies and increased market competition[60] Assets and Liabilities - Non-current assets increased to HKD 66.9 million in 2024 from HKD 50.5 million in 2023[7] - Current assets rose to HKD 277.6 million in 2024 from HKD 183.7 million in 2023, driven by an increase in contract assets[7] - Current liabilities increased significantly to HKD 202.5 million in 2024 from HKD 92.2 million in 2023, primarily due to higher trade and other payables[7] - The net asset value of the company increased to HKD 130.8 million in 2024 from HKD 127.1 million in 2023[7] - Total assets as of March 31, 2024, were approximately HKD 344.5 million, an increase from HKD 234.2 million in the previous year, while total liabilities rose to approximately HKD 213.6 million from HKD 107.1 million[61] Revenue Breakdown - Revenue from foundation and site preparation services was HKD 651,183,000, up from HKD 523,883,000, representing a growth of 24%[22] - Rental income from machinery increased to HKD 20,727,000 from HKD 13,416,000, marking a rise of 54%[22] - Revenue from foundation and site formation works reached approximately HKD 651.2 million, an increase of about HKD 127.3 million or 24.3% compared to HKD 523.9 million for the year ended March 31, 2023[52] - Revenue from machinery leasing amounted to approximately HKD 20.7 million, up by about HKD 7.3 million or 54.5% from HKD 13.4 million for the previous year[52] Employee Costs and Workforce - Total employee costs increased to HKD 187,453,000 in 2024 from HKD 166,291,000 in 2023, reflecting a rise of 12.8%[32] - Total employee costs, including director remuneration, amounted to approximately HKD 191.7 million for the year ended March 31, 2024, compared to HKD 170.9 million for the year ended March 31, 2023, indicating a significant increase in employee compensation[75] - As of March 31, 2024, the group employed a total of 406 employees, a decrease from 427 employees as of March 31, 2023, primarily due to fewer labor-intensive processes[75] Dividends - The company did not recommend the payment of a final dividend for the fiscal year ending March 31, 2024[4] - The company did not declare any dividends for the year ending March 31, 2024, consistent with 2023[33] - The company has decided not to recommend any final dividend for the year ended March 31, 2024[76] Future Outlook and Strategy - The Hong Kong economy continues to face challenges, but the government is expected to invest in infrastructure and housing, providing potential growth opportunities in the construction sector[48] - The company aims to expand its role from subcontractor to main contractor in foundation engineering projects[48] - The company will focus on cost control and improving efficiency in project management to navigate the competitive market[49] - The outlook for the Hong Kong construction industry remains optimistic, driven by government plans for large public infrastructure projects[78] - The group aims to enhance project cost control measures, strengthen project management teams, and improve production efficiency moving forward[78] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the annual performance for the year ended March 31, 2024, ensuring compliance with applicable accounting standards[86] - The independent auditor confirmed that the preliminary announcement figures for the year ended March 31, 2024, are consistent with the audited financial statements[88] Other Information - The group has not applied any new or revised Hong Kong Financial Reporting Standards that are not yet effective, which are expected to have no significant impact on performance or financial position[19] - The group’s financial statements were not significantly impacted by the amendments to Hong Kong Accounting Standards[16] - The group anticipates that the application of the revised standards will not lead to changes in the classification of liabilities as of March 31, 2024[20] - Capital expenditure for the year was approximately HKD 31.7 million, an increase from HKD 18.2 million in the previous year, primarily for purchasing machinery and equipment[67] - The company has adopted a share option scheme as a reward for directors and eligible employees, as detailed in the prospectus published on September 30, 2017[75] - The company has not encountered any significant labor disputes or difficulties in recruiting and retaining experienced employees during the reporting period[75] - The 2024 Annual General Meeting is scheduled for August 16, 2024[83]
荣智控股(06080) - 2024 - 年度业绩