Financial Performance - The company's revenue for the year ended March 31, 2024, was HKD 428,077,000, a decrease of 17.3% compared to HKD 517,599,000 for the previous year[4] - Gross profit for the same period was HKD 25,192,000, down 24.0% from HKD 33,165,000 in the prior year[4] - The company reported a net profit of HKD 719,000 for the year, a decline of 72.1% from HKD 2,581,000 in the previous year[4] - Revenue decreased by 17.3% to HKD 428.1 million for the year ended March 31, 2024, down from HKD 517.6 million in the previous year, primarily due to a reduction in renovation income[45][46] - Gross profit fell by 24.0% to HKD 25.2 million for the year ended March 31, 2024, compared to HKD 33.2 million in the previous year[45] - The company reported a loss attributable to owners of HKD 1,369,000 for the year ended March 31, 2024, compared to a profit of HKD 751,000 for the previous year, representing a significant decline[36] - Net profit for the year ended March 31, 2024, was HKD 0.7 million, down from HKD 2.6 million in the previous year[57] - The company reported a loss attributable to owners of HKD 1.4 million for the year, compared to a profit of HKD 0.8 million in the previous year[58] Assets and Liabilities - Total assets decreased to HKD 266,360,000 from HKD 334,481,000, reflecting a reduction of 20.3%[7] - The company’s total liabilities decreased to HKD 122,376,000, a reduction of 35.7% from HKD 190,328,000[8] - The company’s equity attributable to owners was HKD 136,925,000, slightly down from HKD 137,184,000[7] - Trade and warranty receivables dropped significantly to HKD 54,550,000, down 38.2% from HKD 88,250,000[7] - Trade receivables decreased to HKD 53.6 million in 2024 from HKD 86.8 million in 2023, reflecting a reduction in business activity[39] - The company’s trade payables decreased to HKD 110.6 million in 2024 from HKD 181.8 million in 2023, indicating improved cash flow management[42] Cash Flow and Financial Position - The company's cash and cash equivalents increased to HKD 139,638,000, up 27.3% from HKD 109,702,000 in the previous year[7] - The current ratio as of March 31, 2024, was 2.0, an increase from 1.6 in the previous year, indicating improved liquidity[61] - The total liabilities to equity ratio as of March 31, 2024, was 2.9%, up from 1.4% in the previous year, reflecting a change in the company's capital structure[61] Earnings and Share Performance - The basic and diluted earnings per share for the year were HKD (0.69), compared to HKD 0.38 in the previous year[5] - Basic earnings per share for the year ended March 31, 2024, was HKD 0.38, down 28.3% from HKD 0.53 in 2023[20] - The company reported no diluted earnings per share due to the absence of unexercised share options, with basic loss per share at HKD 0.69 for 2024 compared to earnings of HKD 0.38 for 2023[37] Dividends and Shareholder Information - The company did not recommend a final dividend for the year ended March 31, 2024, consistent with the previous year[38] - The company did not recommend any final dividend for the year ended March 31, 2024, consistent with the previous year[59] - As of March 31, 2024, Mr. Wang Shichun and Ms. Xu Manyi each hold 112,500,000 shares, representing 56.25% of the issued ordinary shares[88] - The major shareholder, Shiman Limited, holds 112,500,000 shares, accounting for 56.25% of the company's ordinary shares[93] Operational Focus and Strategy - The company plans to focus on new product development and market expansion strategies in the upcoming fiscal year[4] - The revenue contribution from fit-out projects increased to 87.7% of total revenue in 2024, up from 66.8% in 2023, highlighting a shift in business focus[48] - The company secured 37 new fit-out projects totaling HKD 268.8 million from April 1, 2023, to March 31, 2024[49] Administrative and Other Expenses - Employee costs for the year were HKD 49,257 thousand, slightly decreased from HKD 49,425 thousand in 2023[32] - The group’s administrative expenses for 2024 were HKD 26,651 thousand, down from HKD 28,775 thousand in 2023[30] - Administrative expenses decreased by 7.3% to HKD 26.7 million from HKD 28.8 million in the previous year, mainly due to a reduction in personnel costs and depreciation[54] Compliance and Governance - The company has complied with the GEM Listing Rules and corporate governance code throughout the reporting period, except for the separation of roles between the chairman and CEO[82] - The audit committee consists of three independent non-executive directors, ensuring compliance with GEM listing rules[102] - The company confirms that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[105] Market Conditions - The overall demand for Grade A office space in Hong Kong remains weak due to economic uncertainties, with vacancy rates hovering at high levels[85] - Core business district rental levels continue to decline, leading to more flexible leasing options and incentives from landlords, which is expected to stabilize the leasing market gradually[85] - The Hong Kong government has introduced measures in the 2024-25 budget to promote sectors such as AI, health technology, and asset management, which is anticipated to attract more professional institutions to Grade A office spaces[85]
庄皇集团公司(08501) - 2024 - 年度业绩