Financial Performance - For the fiscal year ending March 31, 2024, the revenue was approximately HKD 226.8 million, an increase of about 22.3% compared to HKD 185.5 million for the fiscal year ending March 31, 2023[5]. - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 3.0 million, a slight decrease of about HKD 0.02 million or 0.5% from HKD 3.036 million in the previous year[5]. - The gross margin decreased from approximately 1.6% for the fiscal year ending March 31, 2023, to approximately 1.3% for the fiscal year ending March 31, 2024[5]. - The loss attributable to the owners of the company for the fiscal year ending March 31, 2024, was approximately HKD 17.7 million, a reduction of about HKD 8.3 million or 32.0% from HKD 26.0 million in the previous year[5]. - The basic loss per share for the fiscal year ending March 31, 2024, was approximately HKD 0.10, compared to HKD 0.15 for the fiscal year ending March 31, 2023[7]. - The total comprehensive loss for the fiscal year ending March 31, 2024, was approximately HKD 18.8 million, down from HKD 28.1 million in the previous year[6]. - The group reported a pre-tax loss of HKD 224,784,000 for 2024, compared to HKD 182,430,000 in 2023, indicating an increase in costs[40]. - The total tax expense for the year was HKD 64,000, compared to a tax credit of HKD 178,000 in 2023, marking a significant shift[43]. - The group reported a net impairment loss of HKD 651,000 in 2024, down from HKD 1,891,000 in 2023, showing a decrease of 65.5%[40]. Revenue Breakdown - Jewelry product sales accounted for HKD 140,198,000 in 2024, significantly up from HKD 47,903,000 in 2023[24]. - Sales of precious metals and jewelry raw materials decreased to HKD 86,556,000 in 2024 from HKD 137,569,000 in 2023, representing a decline of 37.0%[24]. - Revenue from Hong Kong decreased to HKD 91,997,000 in 2024 from HKD 150,158,000 in 2023, a drop of 38.6%[27]. - Revenue from mainland China surged to HKD 134,757,000 in 2024, up from HKD 35,314,000 in 2023, marking an increase of 282.5%[27]. - The company's revenue for the year ended March 31, 2024, was approximately HKD 226.8 million, an increase of about HKD 41.3 million or 22.3% compared to the previous year[66]. - Sales revenue from mainland China significantly increased by approximately HKD 99.4 million or 281.6%, while sales revenue from Hong Kong decreased by approximately HKD 58.2 million or 38.7%[66]. Assets and Liabilities - The total assets as of March 31, 2024, were approximately HKD 83.3 million, a decrease from HKD 102.1 million as of March 31, 2023[9]. - The total liabilities as of March 31, 2024, were approximately HKD 29.0 million, compared to HKD 30.0 million as of March 31, 2023[9]. - The group’s non-current assets in Hong Kong decreased to HKD 2,261,000 in 2024 from HKD 3,407,000 in 2023[30]. - Trade receivables surged to HKD 11,030,000 in 2024, a substantial increase from HKD 609,000 in 2023, indicating a growth of 1,711%[51]. - Current assets as of March 31, 2024, are approximately HKD 62.9 million, down from HKD 79.7 million in 2023, with cash and bank balances at approximately HKD 36.4 million[76]. - The current ratio as of March 31, 2024, is approximately 7.5, compared to 10.1 in 2023[76]. - The group’s trade payables decreased to HKD 11,000 in 2024 from HKD 22,000 in 2023, a reduction of 50%[54]. Corporate Governance and Compliance - The company has adopted corporate governance principles and has complied with the code provisions as of March 31, 2024[103]. - The roles of the Chairman and CEO are held by Dr. Su Shuhui and Mr. Xie Qixiang, respectively, ensuring a balance of power and authority[105]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the fiscal year ending March 31, 2024[106]. - The audit committee, consisting of three independent non-executive directors, has reviewed the company's full-year performance for the fiscal year ending March 31, 2024, and confirmed adherence to applicable accounting standards[107]. - The company's auditor has verified the preliminary consolidated financial statements for the fiscal year ending March 31, 2024, ensuring consistency with the draft financial statements[108]. - The annual report for the fiscal year ending March 31, 2024, will include all information required by the listing rules and will be distributed to shareholders in due course[111]. Strategic Initiatives - The company is focusing on high-end art jewelry and has established good relationships with international and Hong Kong auction houses to enhance its market presence[61]. - The company plans to expand its online sales channels and improve customer experience through convenient shopping and customization options[62]. - The company is exploring opportunities to utilize augmented reality (AR) and blockchain technology to develop service platforms and enhance profitability[63]. - The company has launched a new collaboration with Sichuan Luzhou Laojiao Co., Ltd. to introduce a gift box series, showcasing its commitment to product innovation[59]. - The group aims to explore local and overseas business opportunities while enhancing brand awareness and product quality to strengthen market share[80]. - The group plans to invest more resources in marketing and product development to cater to diverse consumer preferences and shopping habits[80]. Employee and Operational Costs - Employee benefits, including director remuneration, rose to HKD 10,237,000 in 2024 from HKD 8,944,000 in 2023, reflecting a 14.4% increase[40]. - The company's administrative expenses decreased by approximately HKD 1.1 million or 5.6% to about HKD 18.2 million, attributed to optimized resource allocation and cost control[69]. - Financial costs for the year were approximately HKD 57,000, a reduction of about HKD 15,000 or 20.8% compared to the previous year due to the repayment of lease liabilities[71]. - As of March 31, 2024, the total employee cost is approximately HKD 10.2 million, an increase from HKD 8.9 million in the previous year[89]. Dividend and Shareholder Information - The company did not recommend the payment of a final dividend for the fiscal year ending March 31, 2024[5]. - The group did not recommend a final dividend for the year ending March 31, 2024, consistent with the previous year[48]. - The company adopted the 2023 Share Option Plan and terminated the 2015 Share Option Plan, which had not granted any options since its inception[92]. - On March 28, 2024, the board awarded 100,000 share rewards to Mr. Xie Qixiang, representing 0.0579% of the total shares on the grant date, and granted a total of 2,550,000 options to other participants[93]. Future Outlook and Investments - The group has no significant impact expected from the recent accounting standard amendments on its financial statements[20][21][22]. - The group has no capital commitments as of March 31, 2024, indicating a stable financial position[56]. - The group has no specific future plans for significant investments or acquisitions of major capital assets as of March 31, 2024[96]. - There were no major acquisitions or disposals of subsidiaries or associates during the year ended March 31, 2024[98]. - The group had no short-term secured borrowings as of March 31, 2024, consistent with the previous year[99]. - There were no significant contingent liabilities as of March 31, 2024, similar to the previous year[100]. - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the year ended March 31, 2024[101].
域能控股(00442) - 2024 - 年度业绩