Financial Performance - The group's profit before tax was approximately HKD 75,096,000 for 2024, a decrease of 55.05% compared to HKD 166,564,000 in 2023[6]. - Basic earnings per share for 2024 were calculated based on the profit attributable to shareholders, resulting in a significant decline from the previous year[6]. - For the year ending March 31, 2024, the group's revenue was HKD 628,996,000, a decrease of 7.1% compared to HKD 677,165,000 in 2023[33]. - The net profit for the year was HKD 76,538,000, down 55.2% from HKD 170,923,000 in 2023[33]. - The total comprehensive income for the year was HKD 64,585,000, a decrease of 50.2% from HKD 129,572,000 in 2023[34]. - The company's equity increased from HKD 1,729,855 thousand in 2023 to HKD 1,794,440 thousand in 2024, an increase of about 3.7%[49]. - The group reported a financial cost of HKD 1,403,000 for the year, compared to HKD 258,000 in 2023, indicating a significant increase[33]. - The group recognized a net loss of HKD 11,953,000 from foreign exchange differences related to overseas operations[34]. Dividends - The total dividend for the year is proposed at HKD 0.06 per share, an increase from HKD 0.05 per share in 2023, with a special dividend of HKD 0.03[11]. - The proposed final dividend is HKD 0.03 per share, totaling HKD 71,938,000, compared to no dividend in 2023[116]. - The proposed final dividend is HKD 0.03 per share, and a special dividend of HKD 0.03 per share is also recommended, pending approval at the upcoming annual general meeting[89]. Assets and Liabilities - The group's cash and cash equivalents amounted to approximately HKD 560,937,000 as of March 31, 2024, compared to HKD 665,196,000 in 2023, reflecting a decrease of 15.7%[33]. - Total assets decreased from HKD 2,553,077 thousand in 2023 to HKD 2,516,771 thousand in 2024, representing a decline of approximately 1.4%[48]. - Non-current assets decreased from HKD 776,549 thousand in 2023 to HKD 739,925 thousand in 2024, a reduction of about 4.7%[48]. - Current assets increased from HKD 1,115,628 thousand in 2023 to HKD 1,216,846 thousand in 2024, reflecting an increase of approximately 9.0%[48]. - Total liabilities decreased from HKD 1,806,014 thousand in 2023 to HKD 1,877,756 thousand in 2024, indicating an increase of approximately 3.9%[49]. - The company reported a decrease in total liabilities from HKD 162,331 thousand in 2023 to HKD 162,322 thousand in 2024, a marginal decline[67]. Receivables and Inventory - The group's receivables decreased to HKD 62,645,000 in 2024 from HKD 74,483,000 in 2023, indicating a reduction of 16%[7]. - The aging analysis of accounts receivable shows that overdue amounts over 90 days decreased significantly from HKD 24,989,000 in 2023 to HKD 15,789,000 in 2024[8]. - The company’s inventory decreased from HKD 74,483 thousand in 2023 to HKD 62,645 thousand in 2024, a decline of approximately 16.0%[48]. - The company’s receivables increased significantly from HKD 292,832 thousand in 2023 to HKD 523,219 thousand in 2024, an increase of approximately 78.5%[48]. Business Segments - The media business remains the most profitable segment, demonstrating resilience against digital media challenges[16]. - The group's media business faced significant challenges during the reporting period, with overall revenue decreasing by approximately HKD 60,886,000, or about 10% compared to the previous year[101]. - Total revenue from publishing and advertising decreased from HKD 509,900 thousand in 2023 to HKD 464,813 thousand in 2024, a decline of about 8.8%[78]. - Digital media business revenue decreased by approximately HKD 15,799,000, or about 14%, totaling around HKD 99,363,000 compared to the same period last year[101]. - The publishing and advertising revenue of "Oriental Daily" was approximately HKD 464,813,000, down by about HKD 45,087,000, or approximately 9% year-on-year[101]. Financing Business - The financing business continues to expand, with the total loan amount and interest income reaching the highest growth in recent years[17]. - Management anticipates steady growth in financing business next year, despite challenges in the property market[17]. - The financing business's receivables amount to approximately HKD 523,917,000, an increase of about HKD 224,077,000 or approximately 75% compared to the previous year[127]. - The total loan interest income from the financing business is approximately HKD 45,453,000, an increase of about HKD 14,478,000 or approximately 47% compared to the previous year[127]. - The average loan-to-value ratio is approximately 74%[127]. Market Conditions - The overall office vacancy rate in Hong Kong has reached new highs, impacting investor confidence and market activity[129]. - The group anticipates a decrease in rental income due to the sluggish local office leasing market, despite stable rental income from local properties[129]. - The government’s removal of the additional stamp duty on residential properties has increased transaction volumes, but restoring market confidence will take time[129]. - The group will prudently select high-return projects for investment purposes amid cautious market conditions[129]. Employee and Operational Costs - Employee costs decreased by approximately HKD 11,985,000 or approximately 3% compared to the previous year[126]. - The cost of raw materials for the printing media slightly decreased by approximately HKD 1,577,000 or approximately 2% compared to the previous year[126]. - The group employed 856 employees as of March 31, 2024, compared to 908 employees in 2023[109]. Investment Properties - The valuation of the group's investment properties decreased by approximately HKD 21,817,000, or about 12%, compared to last year[102]. - The valuation of hotel properties held by the group in Australia increased by AUD 3,360,000, or about 9%, offsetting some of the valuation losses from local investment properties[102]. - The group plans to actively seek buyers for its hotel property to lock in profits and enhance cash flow, having held the property for nearly twenty years[129]. Government Support - The company received government grants of approximately HKD 22,250,000 under the Employment Support Scheme to retain employees during the pandemic[61]. - The company recognized government grants of approximately HKD 27,000 thousand under the maternity leave reimbursement scheme[77].
东方企控集团(00018) - 2024 - 年度业绩