Financial Performance - For the fiscal year ending March 31, 2024, the company's revenue was approximately HKD 649.6 million, an increase of about 27.7% compared to approximately HKD 508.5 million for the fiscal year ending March 31, 2023[4] - Gross profit increased from approximately HKD 45.9 million for the fiscal year ending March 31, 2023, to approximately HKD 74.1 million for the fiscal year ending March 31, 2024[4] - The gross profit margin improved from approximately 9.0% for the fiscal year ending March 31, 2023, to approximately 11.4% for the fiscal year ending March 31, 2024[4] - The profit attributable to the company's owners for the fiscal year ending March 31, 2024, was approximately HKD 17.6 million, compared to approximately HKD 8.6 million for the fiscal year ending March 31, 2023[4] - Basic and diluted earnings per share for the fiscal year ending March 31, 2024, were approximately HKD 1.76, up from approximately HKD 0.86 for the fiscal year ending March 31, 2023[4] - The pre-tax profit for 2024 was HKD 17,631,000, compared to HKD 8,586,000 in 2023, reflecting a significant increase of 105.5%[27] - Basic earnings per share rose to HKD 1.76 in 2024 from HKD 0.86 in 2023, indicating a growth of 105.8%[27] - The company recorded a total comprehensive income attributable to owners of approximately HKD 17.6 million in fiscal year 2024, up from HKD 8.6 million in fiscal year 2023[42] Dividends - The board proposed a final dividend of HKD 0.02 per ordinary share, amounting to approximately HKD 20.0 million[4] - The board proposed a final dividend of HKD 0.02 per share, amounting to approximately HKD 20,000,000, subject to shareholder approval[28] - The board proposed a final dividend of HKD 0.02 per share, amounting to approximately HKD 20 million, compared to no dividend for the previous fiscal year[55] Revenue Sources - Revenue from air freight forwarding ground services increased to HKD 452,094,000 in 2024 from HKD 370,560,000 in 2023, representing a growth of 21.9%[20] - Total revenue for the year reached HKD 649,570,000, up from HKD 508,456,000 in the previous year, marking a year-on-year increase of 27.7%[20] - Major clients contributing over 10% of total revenue included Client A1 with HKD 159,183,000 (up from HKD 132,994,000), Client B1 with HKD 197,862,000 (up from HKD 165,722,000), and Client C with HKD 83,793,000 (up from HKD 78,531,000)[22] Assets and Liabilities - Trade receivables increased to approximately HKD 166.4 million from approximately HKD 143.6 million year-over-year[8] - Total assets decreased to approximately HKD 310.3 million from approximately HKD 329.2 million year-over-year[8] - Total liabilities decreased to approximately HKD 86.2 million from approximately HKD 122.7 million year-over-year[10] - Total equity increased to approximately HKD 224.1 million from approximately HKD 206.5 million year-over-year[8] - Trade receivables (net of loss provisions) increased from HKD 143.6 million in 2023 to HKD 166.4 million in 2024, with a loss provision of HKD 2.7 million in 2024 compared to HKD 1.6 million in 2023[31] Expenses - Direct labor costs increased to HKD 123,043,000 in 2024 from HKD 116,465,000 in 2023, reflecting a rise of 5.4%[24] - The total administrative and other operating expenses included employee costs of HKD 19,064,000, up from HKD 17,600,000 in the previous year, an increase of 8.3%[24] - Administrative and other operating expenses increased by approximately 2.6% to about HKD 53.7 million in fiscal year 2024, primarily due to rising employee costs[40] Cash Management and Investments - The group maintains a prudent cash management policy to ensure readiness for future growth opportunities[52] - The group has no major investments, acquisitions, or disposals planned for the fiscal year 2024[54] - The company has adhered to the corporate governance code and standards throughout the fiscal year 2024[68] - No purchases, sales, or redemptions of the company's listed securities occurred during the fiscal year 2024[69] Warehouse and Equipment Upgrades - The group is constructing a new warehouse near Hong Kong International Airport, with an area of approximately 130,000 square feet[59] - The group has purchased an additional 13 units of 16-ton trucks and one unit of 5.5-ton trucks, exceeding the initial target of acquiring two 5.5-ton trucks, three 9-ton trucks, and ten 16-ton trucks[60] - The warehouse management system has been upgraded to scan the entire air waybill package ID, enhancing data accuracy and transparency[62] - The group has installed six X-ray machines and two explosive detectors to upgrade air cargo security checks[60] - The group is currently collaborating with IT consultants to explore hardware and computer equipment upgrades[62] Financial Reporting and Audit - The audit committee has reviewed the financial statements and confirmed consistency with the preliminary announcement for the fiscal year 2024[72] - The group expects that newly issued accounting standards will not have a significant impact on the consolidated financial statements in the current or future reporting periods[18] Share Listing and Proceeds - The net proceeds from the company's share listing on the Hong Kong Stock Exchange amounted to approximately HKD 92.8 million after deducting underwriting fees and other listing expenses[64] - As of March 31, 2024, the actual usage of the net proceeds includes HKD 36.4 million allocated for establishing a new warehouse property in Chek Lap Kok, with HKD 4.6 million already utilized[64] - The company has spent HKD 3.6 million on upgrading existing equipment and acquiring additional vehicles, with three trucks purchased in the fiscal year 2024[65] - The implementation of a new IT system has seen an expenditure of HKD 8.0 million, with HKD 0.3 million already utilized[65] - The company anticipates that the unutilized net proceeds will be fully utilized within seven months from the announcement date, subject to market conditions[65] - The estimated costs for the new warehouse property include approximately HKD 19.6 million for capital expenditures, HKD 11.8 million for the first year's lease payments, and HKD 5.0 million for working capital[64] - The total unutilized net proceeds as of March 31, 2024, stand at HKD 42.0 million[64]
亚洲实业集团(01737) - 2024 - 年度业绩