Financial Performance - The company's revenue for the year ended March 31, 2024, was HKD 85,617,000, representing a 16.5% increase from HKD 73,384,000 in the previous year[5] - Gross profit increased to HKD 48,533,000, up 42.8% from HKD 34,008,000 year-on-year[5] - Operating profit rose significantly to HKD 18,082,000, compared to HKD 7,474,000 in the prior year, marking a 141.5% increase[5] - Net profit attributable to shareholders was HKD 15,455,000, a substantial increase of 152.0% from HKD 6,126,000 in the previous year[5] - Basic and diluted earnings per share increased to HKD 1.55, up from HKD 0.61, reflecting a growth of 154.1%[5] - Total revenue for the year 2024 reached 85,617 thousand HKD, an increase of 16.7% compared to 73,384 thousand HKD in 2023[23] - The profit attributable to the company's owners for the fiscal year ending March 31, 2024, was approximately HKD 15.5 million, compared to HKD 6.1 million for the previous year, marking an increase of approximately 153.3%[40] - Total revenue increased from approximately HKD 73.4 million to approximately HKD 85.6 million, an increase of about 16.6%[49] - Gross profit increased from approximately HKD 34.0 million to approximately HKD 48.5 million, an increase of about 42.6%, with gross margin rising from approximately 46.3% to approximately 56.7%[52] Cash and Assets - Cash and bank balances as of March 31, 2024, were HKD 91,756,000, an increase from HKD 79,967,000 in the previous year[6] - Current assets net worth improved to HKD 82,061,000, compared to HKD 67,504,000 in the previous year, indicating a 21.5% increase[6] - Total assets less current liabilities increased to HKD 92,115,000 from HKD 78,604,000, representing a growth of 17.2%[6] - Trade receivables decreased from HKD 6,904,000 in 2023 to HKD 4,812,000 in 2024, a decline of about 30.2%[38] - Cash and bank balances increased from approximately HKD 80.0 million to approximately HKD 91.8 million[66] Revenue Breakdown - Revenue from the Chinese market significantly increased to 61,967 thousand HKD in 2024, up 21.8% from 50,863 thousand HKD in 2023[23] - The sales of LED lighting devices generated 49,501 thousand HKD in 2024, representing a 12.5% increase from 44,183 thousand HKD in 2023[27] - Revenue from integrated LED lighting solution services rose from HKD 20.0 million in 2023 to HKD 28.8 million in 2024, an increase of approximately 44.0%[41] - Revenue from comprehensive LED lighting solutions increased from approximately HKD 20.0 million for the year ended March 31, 2023, to approximately HKD 28.8 million for the year ended March 31, 2024, representing an increase of about 44.0%[45] - Revenue from LED lighting system consulting and maintenance services decreased from approximately HKD 5.5 million to approximately HKD 4.6 million, a decrease of about 16.4%[46] Expenses and Liabilities - Employee benefits expenses, including salaries and wages, totaled 24,287 thousand HKD in 2024, a marginal decrease from 24,343 thousand HKD in 2023[29] - The company's total tax expense for the fiscal year 2024 was HKD 2,493,000, compared to HKD 1,122,000 in 2023, indicating a significant increase of approximately 122.3%[8] - Trade and other payables increased from HKD 9,388,000 in 2023 to HKD 11,289,000 in 2024, representing an increase of approximately 20.2%[39] - Administrative expenses increased from approximately HKD 27.2 million to approximately HKD 30.7 million, an increase of about 12.9%[54] Corporate Governance - The company has confirmed compliance with the corporate governance code, except for a deviation regarding the separation of the roles of Chairman and CEO[89] - The board of directors has adopted a code of conduct for securities trading, confirming compliance for the fiscal year ending March 31, 2024[92] - The board of directors includes executive directors and independent non-executive directors, ensuring corporate governance compliance[101] - The company confirms that the information in the announcement is accurate and complete, with no misleading elements[103] Future Plans and Market Strategy - The company plans to adopt new or revised Hong Kong Financial Reporting Standards in the future, which are not expected to have a significant impact on performance[20] - The company aims to expand its customer base by seeking new luxury brand clients through its existing network[88] - The anticipated timeline for utilizing the unutilized IPO proceeds has been extended from March 31, 2024, to March 31, 2025, due to the impact of COVID-19 and geopolitical uncertainties[86] Employee and Operational Insights - As of March 31, 2024, the group had a total of 66 employees, an increase from 63 employees as of March 31, 2023[81] - Employee benefits expenditure for the year was approximately HKD 25.2 million, unchanged from the previous year[81] - The company has established a stock option plan to attract and retain suitable employees since December 22, 2017[94] - The company has not granted any stock options under the stock option plan since its adoption[95] IPO and Financial Utilization - The total amount utilized from the IPO proceeds was HKD 32.6 million, with an unutilized balance of HKD 2.1 million expected to be used by March 31, 2025[84] - As of the announcement date, the company has sufficient public float of at least 25% of its issued shares as required by GEM listing rules[96]
英马斯集团(08136) - 2024 - 年度业绩