Financial Performance - The company's revenue for the fiscal year ending March 31, 2024, was HKD 6,476,000,000, a decrease of 1.6% compared to HKD 6,581,000,000 in the previous year[3][24]. - The profit attributable to the company's owners was a loss of HKD 367,300,000, compared to a profit of HKD 36,900,000 in the previous year[6][11]. - The company reported a full-year loss of HKD 341,860,000 for the year ending March 31, 2024, compared to a profit of HKD 86,237,000 for the previous year[25]. - The group reported a loss attributable to owners of the company of HKD 367,329,000 for the year, compared to a profit of HKD 36,930,000 in the previous year, resulting in a basic loss per share of HKD 0.401[97]. - The company reported a basic loss per share of HKD 0.401, compared to earnings of HKD 0.04 per share in the previous year[6][24]. - The company recorded a total income of HKD 150,708,000 for the year ending March 31, 2024, down from HKD 263,400,000 in the previous year, indicating a decline of approximately 42.8%[147]. Cost and Expenses - Gross profit margin improved from 26.6% to 28.5%[2]. - The operating profit before financial costs and share of associates was HKD 327,100,000, up from HKD 167,600,000 in the previous year[3][10]. - Distribution costs increased by 2.0% to HKD 845,700,000, while administrative expenses decreased by 6.3% to HKD 812,100,000[8]. - Other operating expenses decreased significantly by HKD 141,400,000 to HKD 9,400,000, mainly due to one-time impairment losses in the previous year[9]. - The group's financial costs increased to HKD 248,541,000 in the year ended March 31, 2024, from HKD 205,293,000 in 2023[118]. Business Segments - Sales in the battery business decreased by 1.7%, amounting to a reduction of HKD 83,000,000, primarily due to declines in Europe and Asia[7][12]. - The battery business revenue was HKD 840,900,000, a decline of 3.4% year-over-year, while the gross profit margin improved from 21.2% to 24.2%[37][38]. - The sound division generated revenue of HKD 1,580,293,000, while the battery division generated HKD 4,896,113,000, showing a decrease in both segments compared to the previous year's figures of HKD 1,601,954,000 and HKD 4,979,072,000 respectively[94]. Investments and Financial Position - The company incurred a loss of HKD 408,700,000 from its investment in Xuan Yu Technology, including an impairment loss of HKD 386,300,000, compared to a profit of HKD 17,800,000 last year[35][45]. - The company plans to closely monitor the financial situation of its associate, Xuan Yu Technology, which is facing financial difficulties and exploring restructuring options[18][23]. - The group has approximately HKD 2,488,000,000 in available bank standby credit to meet its financial obligations in the foreseeable future[81]. - The group’s total assets decreased from HKD 4,408,605,000 to HKD 3,923,823,000 year-over-year[26]. - The net asset value dropped from HKD 2,722,762,000 to HKD 2,154,530,000[27]. Market Conditions and Future Outlook - The company anticipates ongoing challenges due to global economic conditions, including high inflation and interest rates, which may impact consumer spending on electronic and audio products[21]. - High interest rates are anticipated to significantly increase the group's financing costs, prompting the development of alternative financing channels for future business expansion[72]. - The recent strengthening of the USD against the RMB may alleviate some cost pressures and enhance pricing flexibility[48]. - The company plans to focus on producing consumer batteries and promoting its GP brand products in the global consumer market[49]. Regulatory and Compliance - The group has assessed the impact of pillar two tax legislation on its operations, with all jurisdictions meeting transitional country-by-country reporting safe harbor standards except for Poland and Vietnam[61]. - The group is subject to the OECD's Pillar Two model rules, with relevant legislation enacted in several jurisdictions, including Germany, Japan, and the UK, effective from January 1, 2024[85]. - The group has not recognized any tax risks related to the Pillar Two legislation as it has not yet come into effect for the fiscal year ending March 31, 2024[85]. Shareholder Information - The company proposed a final dividend of HKD 0.01 per share for the year ending March 31, 2024, compared to no dividend in the previous year[143]. - The company will suspend share transfer registration from September 11, 2024, to September 12, 2024, to determine shareholders eligible for the final dividend[152]. - All transfers must be submitted to the company's share transfer registration office by September 10, 2024, at 4:30 PM to qualify for the final dividend[152].
金山科技工业(00040) - 2024 - 年度业绩