Financial Performance - The group's revenue for the fiscal year ending March 31, 2023, was approximately HKD 205.9 million, a decrease from HKD 232.2 million in the previous fiscal year[1]. - The group reported a loss before tax of approximately HKD 18.7 million, compared to a loss of HKD 4.0 million in the previous fiscal year[1]. - The loss attributable to equity holders for the fiscal year was approximately HKD 18.7 million, compared to HKD 4.0 million in the previous fiscal year[1]. - Basic and diluted loss per share attributable to equity holders was approximately HKD 3.89, compared to HKD 0.84 in the previous fiscal year[1]. - Revenue from customer contracts recognized over time was HKD 205.9 million, down from HKD 221.5 million in the previous fiscal year[26]. - The company's net loss attributable to equity holders increased by approximately HKD 14.7 million to about HKD 18.7 million, primarily due to increased administrative and other operating expenses[124]. - The company reported a total of HKD 45,206,000 in receivables, up from HKD 30,208,000 in the previous year, reflecting growth in business operations[44]. - The group aims to balance growth and stability in its business strategy amid ongoing market challenges and opportunities for expansion[76]. Profitability and Margins - The gross profit margin for the fiscal year was approximately 5.9%, up from 4.3% in the previous fiscal year[1]. - The group's gross profit increased by approximately HKD 2.2 million to about HKD 12.1 million, with a gross profit margin of approximately 5.9%, up from 4.3% in the fiscal year 2022[121]. - Gross profit increased to HKD 12,122,000, up from HKD 9,890,000, representing a growth of 22.9%[99]. Dividends - The board has resolved not to declare any dividends for the fiscal year, consistent with the previous fiscal year[1]. - The company does not recommend the payment of dividends for the year ended March 31, 2023, consistent with no dividends declared in 2022[51]. - The company has not declared any dividends for the review year[146]. Assets and Liabilities - Current assets include trade and other receivables of HKD 45.2 million and cash and bank balances of HKD 17.1 million[2]. - Current liabilities include trade and other payables of HKD 24.4 million and borrowings of HKD 43.5 million[2]. - The group's net asset value as of March 31, 2023, was HKD 113.182 million, compared to HKD 131.845 million in the previous year[93]. - The group's asset-to-liability ratio increased from approximately 34.7% as of March 31, 2022, to about 48.5% as of March 31, 2023, mainly due to an increase in borrowings[126]. Operational Costs - Administrative and other operating expenses rose by approximately HKD 12.25 million or 96.8% to about HKD 24,882,000 compared to HKD 12,635,000 in the previous year[99][113]. - Financial costs increased by approximately HKD 4.1 million or 292.9% to about HKD 5,508,000, up from HKD 1,432,000 in the previous year[99][114]. - The company has incurred depreciation and lease payments for right-of-use assets and lease liabilities amounting to HKD 428,000 and HKD 449,000 respectively for the year ended March 31, 2023[50]. Market Conditions - The local GDP is expected to rebound significantly in 2023, with an estimated growth of 3.5% to 5.5%[87]. - The first quarter of 2023 saw a recovery in local GDP with a growth of 2.7%, aided by the easing of social distancing measures and the resumption of cross-border activities[80]. - The group has been impacted by rising operational costs and labor shortages due to global events affecting the supply chain[81]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions during the review year[157]. - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and compliance[171]. - The audit committee has reviewed and approved the consolidated financial statements for the review year, ensuring compliance with applicable accounting standards and regulations[173]. Shareholder Information - The annual general meeting is scheduled for August 21, 2023, at a specified location in Hong Kong[147]. - The company will temporarily suspend share registration procedures from August 16, 2023, to August 21, 2023, for the upcoming annual general meeting[176]. - Following a sale of 264,000 shares, the public now holds 120,000,000 shares, which is 25% of the total issued share capital, meeting the minimum public float requirement[138]. Future Outlook - The group expects to continue its focus on improving gross profit margins and managing operational costs in the upcoming fiscal year[1]. - The company has significant capital expenditures planned, including major investments and acquisitions[143].
耀高控股(01796) - 2023 - 年度业绩