Financial Performance - The group's revenue for the fiscal year ending March 31, 2024, was approximately HKD 194.1 million, an increase of 26.5% from HKD 153.4 million in the previous year[5][10]. - Gross profit for the fiscal year was approximately HKD 29.9 million, significantly up from HKD 9.9 million in the previous year, reflecting a gross margin improvement[6][10]. - The net loss for the fiscal year was approximately HKD 13.8 million, a reduction from a net loss of HKD 32.2 million in the previous year, indicating improved financial performance[7][10]. - The company reported a basic and diluted loss per share of HKD 3.43, improved from HKD 8.03 in the previous year[10]. - The company reported a pre-tax loss of HKD 13,793,000 for 2024, a decrease from a loss of HKD 32,222,000 in 2023[35]. - The company reported a loss attributable to ordinary shareholders of HKD 13,793,000 for 2024, compared to a loss of HKD 32,222,000 in 2023, indicating an improvement in financial performance[37]. - The company recorded a net loss attributable to owners of approximately HKD 13.8 million for the reporting year, a decrease from HKD 32.2 million in the previous year, primarily due to increased revenue and reduced impairment losses[73]. Revenue Breakdown - Revenue from mobile ticketing and digital payment solutions surged to HKD 54,662,000, up 176.5% from HKD 19,782,000 in the previous year[20]. - The engineering services segment generated HKD 102,750,000 in revenue, an increase of 27.9% compared to HKD 80,336,000 in 2023[20]. - Revenue recognized over time amounted to HKD 193,094,000, representing a 30.5% increase from HKD 147,935,000 in 2023[22]. - Revenue from Hong Kong customers was HKD 193,331,000, up from HKD 147,562,000 in 2023, reflecting a growth of 30.9%[26]. - The revenue from electromechanical technical solutions and engineering services was approximately HKD 102.8 million, representing a 28.0% increase from HKD 80.3 million in the previous year[59]. - The revenue from the transportation key systems solutions segment decreased by approximately 57.1% to HKD 10.5 million, down from HKD 24.5 million in the previous year due to the completion of several large projects[53]. Assets and Liabilities - Trade receivables increased to HKD 38.6 million from HKD 29.0 million, indicating a growth in sales and collection efforts[12]. - The total assets decreased to HKD 136.5 million from HKD 153.1 million, primarily due to a reduction in non-current assets[12][13]. - The company's cash and cash equivalents decreased to HKD 45.6 million from HKD 74.0 million, reflecting changes in liquidity management[12]. - The total equity of the company decreased to HKD 136.3 million from HKD 149.6 million, indicating a decline in shareholder value[13]. - Trade payables and retention money totaled HKD 12,146,000 in 2024, an increase from HKD 10,115,000 in 2023, with trade payables within 30 days rising to HKD 6,059,000[43]. - As of March 31, 2024, the company had outstanding borrowings of HKD 15.0 million, with a debt-to-equity ratio of 11.0%[74]. Dividends and Shareholder Returns - The board of directors did not recommend a final dividend for the fiscal year, consistent with the previous year[8]. - The company did not declare any dividends for the year 2024, while HKD 8,050,000 was distributed in 2023[33]. - The board of directors did not recommend the payment of a final dividend for the reporting year, consistent with the previous year[78]. Operational Insights - The group is primarily engaged in providing electromechanical engineering solutions and services, focusing on enhancing operational efficiency and market presence[16]. - The company anticipates stable demand for electromechanical engineering services in the transportation sector due to ongoing railway construction and upgrades[64]. - The company plans to allocate more resources to explore and expand its business in the electric vehicle charging installation market, anticipating strong demand[67]. - The company aims to diversify its market presence by expanding mobile ticketing and digital payment solutions to regions such as the Greater Bay Area, Taiwan, and Southeast Asia[67]. - The company is actively seeking innovative and advanced solutions to meet the expected demand for 140,000 new electric vehicle chargers by 2027/28 under the EHSS program[65]. Staffing and Expenses - Administrative expenses increased by approximately 6.9% to HKD 46.5 million, up from HKD 43.5 million, mainly due to rising employee costs[72]. - The company employed 179 staff as of March 31, 2024, a decrease from 190 staff in the previous year[80]. Other Financial Information - Financing costs increased significantly to HKD 810,000 in 2024, compared to HKD 178,000 in 2023[27]. - The company confirmed stock option expenses of HKD 202,000 for the year ending March 31, 2024, with 12,200,000 unexercised stock options remaining[47]. - The share reward plan granted 2,410,000 shares with a fair value of HKD 383,000 during the year ending March 31, 2023, with recognized expenses of HKD 247,000 for the year ending March 31, 2024[50]. - The company has not made any significant investments or acquisitions in other companies during the reporting year[84][85]. - The company has not implemented any hedging policies to manage foreign currency risks, which primarily arise from fluctuations in RMB, GBP, EUR, and USD[81]. - The company maintains a robust treasury policy, ensuring healthy liquidity throughout the reporting year[82]. Reporting and Announcements - Annual performance announcement and the 2023/2024 annual report will be published on the Stock Exchange and the company's website[99]. - The announcement will be available for at least seven days on the Stock Exchange website and the company's website[100]. - No significant events reported after the end of the fiscal year[98].
高萌科技(08065) - 2024 - 年度业绩