Financial Performance - Total revenue for the year ended March 31, 2024, was HKD 4,896,689, an increase from HKD 708,782 in the previous year[2] - Gross profit for the same period was HKD 76,582, compared to HKD 71,345 in the previous year, reflecting a growth of approximately 7.5%[2] - Net profit for the year was HKD 10,692, down from HKD 11,559, indicating a decrease of about 7.5%[2] - Basic earnings per share decreased to HKD 1.06 from HKD 1.14, a decline of approximately 7%[2] - The company reported a total comprehensive income of HKD 10,713 for the year, down from HKD 11,559, reflecting a decrease of about 7.4%[2] - The company reported a total revenue of HKD 71,345 thousand for the fiscal year ending March 31, 2023, after adjustments[15] - The operating profit before tax was HKD 14,191 thousand, reflecting a decrease of HKD 367 thousand compared to previous reporting[15] - The net profit for the year was HKD 11,559 thousand, down by HKD 259 thousand from prior figures[15] - Basic and diluted earnings per share were reported at HKD 1.14, a decrease of HKD 0.03[15] - Total revenue for the year ended March 31, 2024, was HKD 10,713 million, representing a 67% increase compared to HKD 10,780 million in the previous year[18] - Gross profit was HKD 76,582 million, slightly down by 0.08% from HKD 76,642 million year-over-year[18] - Operating profit before tax was HKD 13,501 million, a decrease of 0.74% from HKD 13,602 million in the previous year[18] - Net profit for the year was HKD 10,692 million, down by 0.82% from HKD 10,780 million year-over-year[18] Assets and Liabilities - Total assets as of March 31, 2024, were HKD 128,456, compared to HKD 118,676 in the previous year, showing an increase of about 8.5%[3] - Current liabilities decreased to HKD 452,406 from HKD 463,843, a reduction of approximately 2.9%[3] - The total non-current liabilities amounted to HKD 2,381 million, a decrease from HKD 1,448 million in the previous period[4] - The total equity increased to HKD 127,008 million from HKD 116,295 million, reflecting a growth of approximately 9.8%[4] - The company reported a capital reserve of HKD 116,878 million, up from HKD 106,165 million, indicating a growth of about 10.6%[4] - The company’s cash and cash equivalents decreased to HKD 43,006 from HKD 57,000, a decline of approximately 24.6%[3] - Trade and other receivables decreased to HKD 78,205 from HKD 94,334, indicating a reduction of about 17%[3] - The company’s long-term service fund provisions are reported at HKD 717 million, compared to HKD 655 million previously[4] - The total lease liabilities are reported at HKD 1,726 million, reflecting a strategic approach to managing liabilities[4] Accounting Standards and Policies - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial performance or position during the reporting period[7] - The implementation of HKFRS 17 has not had any significant impact on the consolidated financial statements of the group[9] - The company adjusted its accounting policy in line with the Hong Kong Institute of Certified Public Accountants' guidelines, impacting the long-term service liabilities[14] - The company is preparing for the transition to new accounting guidelines effective from May 1, 2025, which will impact the treatment of mandatory contributions under the MPF scheme[11] Market and Business Strategy - The company is focused on providing construction and consultancy engineering services in Hong Kong, with a commitment to project management[6] - The company plans to continue focusing on expanding its construction and consulting services within Hong Kong, leveraging its existing client base and exploring new project opportunities[24] - The company's market strategy includes expanding its construction services in both residential and commercial sectors[43] Client Contributions and Revenue Sources - Major clients contributing over 10% of total revenue included Client I with HKD 124,155,000, Client II with HKD 121,230,000, and Client III with HKD 91,215,000[25] - The revenue from construction and consulting engineering services in Hong Kong for the year 2024 was HKD 896,689,000, compared to HKD 708,782,000 in 2023, representing an increase of approximately 26.5%[26] - The revenue from maintenance, repair, and renovation services was HKD 11,733,000 in 2024, compared to HKD 71,388,000 in 2023, indicating a decline of approximately 83.6%[26] - The revenue from the superstructure construction services segment was approximately HKD 881.1 million, an increase of about HKD 266.6 million compared to HKD 614.6 million in the previous year, primarily due to new projects and significant progress in existing projects[47] - The revenue from RMAA services was approximately HKD 11.7 million, a decrease of about HKD 59.7 million compared to HKD 71.4 million, primarily due to smaller project sizes compared to the previous year[48] Employee and Operational Costs - Employee costs for the year ended March 31, 2024, amounted to approximately HKD 77.9 million, compared to approximately HKD 60.0 million for the year ended March 31, 2023[69] - Administrative and other operating expenses increased to approximately HKD 53.4 million, up by about HKD 0.8 million or 1.4% from HKD 52.6 million, mainly due to increased employee benefits expenses[52] - As of March 31, 2024, the company employed a total of 171 employees, an increase from 143 employees as of March 31, 2023[69] Share Capital and Dividends - The company's issued share capital as of March 31, 2024, was HKD 10,130,000, with a total of 1,013,000,000 ordinary shares issued, each with a par value of HKD 0.01[66] - The company did not declare any interim dividends during the year and does not recommend any final dividends for the years ending March 31, 2024, and March 31, 2023[33] - The company has not recognized any potential dilution from stock options as the exercise price exceeds the average market price of the shares[34] Compliance and Governance - The company is currently led by Mr. Wu Caihua, who serves as both Chairman and CEO, a decision made to ensure stable and effective leadership during a rapid development phase[80] - The company has adhered to the corporate governance principles and rules as stipulated in the listing rules, ensuring compliance up to March 31, 2024[81] - The audit committee reviewed the consolidated financial statements for the year ended March 31, 2024, confirming compliance with applicable accounting standards[77] Miscellaneous - There were no significant investments or capital asset plans as of March 31, 2024[67] - There were no significant acquisitions or disposals of subsidiaries or associates during the year ended March 31, 2024[68] - The company maintains a prudent treasury policy, ensuring a healthy liquidity position throughout the year[65] - There were no significant events after the reporting period[72] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website, with all relevant information to be sent to shareholders at an appropriate time[83]
正利控股(03728) - 2024 - 年度业绩