Financial Performance - For the fiscal year ending March 31, 2024, the group's revenue was approximately HKD 449.43 million, an increase of about HKD 31.21 million or 6.7% compared to HKD 463.31 million for the fiscal year ending March 31, 2023[17] - The company reported a loss attributable to shareholders of approximately HKD 12.61 million, a reduction of about HKD 7.90 million or 38.5% compared to a loss of HKD 20.50 million for the previous year[17] - Basic loss per share for the fiscal year was HKD 0.0315, compared to HKD 0.0513 for the previous year[17] - Total comprehensive loss for the year was HKD 13.95 million, down from HKD 20.56 million in the previous year[5] - The company recorded a net loss of approximately HKD 12.6 million for 2024, compared to a net loss of HKD 20.5 million in 2023, primarily due to increased marketing and other expenses in the mainland market[42] - The company reported a basic loss per share of HKD 12.6 million for the year, compared to a loss of HKD 20.5 million in 2023[56] - Total revenue for the fiscal year 2024 was HKD 494,260,000, an increase from HKD 463,117,000 in 2023, representing a growth of approximately 6.1%[66] - Total revenue for the fiscal year 2024 reached HKD 494,260,000, an increase of 6.0% from HKD 463,117,000 in 2023[122] Asset and Liability Management - The total value of non-current assets decreased to HKD 196.88 million from HKD 243.48 million, reflecting a decline of approximately 19.1%[6] - Current assets increased to HKD 282.56 million from HKD 273.33 million, representing a growth of about 3.4%[6] - Current liabilities decreased to HKD 277.98 million from HKD 286.57 million, a reduction of approximately 3.0%[6] - Non-current liabilities decreased to HKD 64.70 million in 2024 from HKD 79.53 million in 2023, reflecting a reduction in lease liabilities and provisions[24] - Total assets decreased to HKD 136.76 million in 2024 from HKD 150.71 million in 2023, indicating a decline in net asset value[24] - The company’s total equity remained unchanged at HKD 136.76 million for both 2024 and 2023, with no potential dilution from issued ordinary shares[36] - As of March 31, 2024, cash and cash equivalents were approximately HKD 119,800,000, up from HKD 116,900,000 in 2023[97] - The company had operating funds of HKD 40,300,000 as of March 31, 2024, compared to HKD 31,200,000 in 2023[97] - As of March 31, 2024, the company had outstanding interest-bearing bank loans of approximately HKD 12,500,000, down from HKD 19,200,000 in 2023[112] Revenue Breakdown - The company generated other income of HKD 5.76 million in 2024, down from HKD 9.45 million in 2023, largely due to the absence of government subsidies received in the previous year[33] - Revenue from treatment services increased significantly to HKD 374.54 million in 2024, up from HKD 333.21 million in 2023[33] - Revenue from skincare products decreased to HKD 119,641,000, representing 24.2% of total revenue, down from HKD 129,573,000 or 28.0% in 2023, a decline of 7.7%[89] - Revenue from Hong Kong was HKD 450,819,000, up 4.4% from HKD 431,976,000 in the previous year[122] - Revenue from mainland China increased significantly to HKD 43,441,000, a rise of 39.5% compared to HKD 31,141,000 in 2023[122] Operational Highlights - The company’s operations are primarily focused on providing medical beauty services and selling skincare products in Hong Kong and mainland China[29] - The company operates six treatment centers and has retail stores in online shopping centers, contributing to the overall revenue increase due to effective sales and marketing activities[46] - The company has upgraded its customer relationship management system to enhance core competitiveness in the medical beauty, lifestyle beauty, and skincare industries[61] - The VITAE brand has met expectations in both customer base and revenue, with positive contributions anticipated for the group's operations and finances in the medium to long term[62] - The company has participated in various advertising and promotional activities during the fiscal year 2024 to improve brand image and attract new customers[64] - The company has organized various customer workshops and events to strengthen and solidify customer relationships despite lower consumer confidence compared to pre-pandemic levels[44] - The company plans to enhance its service offerings by introducing diversified treatments to meet varying customer needs and improve brand recognition[83] - XOVĒ's sales performance through various online platforms met expectations, although it is anticipated to take longer to reach profitability due to high advertising costs[84] Cost Management - Employee costs increased by HKD 630,000 or 3.5% to HKD 183,800,000 in 2024, primarily due to an increase in headcount and commissions paid to frontline staff[71] - Other expenses rose to HKD 159,600,000 in 2024, an increase of HKD 610,000, attributed mainly to increased spending on brand building and advertising in mainland China[75] - Cost of goods sold increased to HKD 52,800,000, up by HKD 540,000 or 11.4%, driven by the increase in revenue for the fiscal year 2024[91] - Advertising and promotion expenses increased by 5.0% to HKD 65,346,000 from HKD 62,229,000[94] - Professional fees rose by 14.1% to HKD 9,069,000 from HKD 7,947,000[94] - Charity donations surged by 235.7% to HKD 433,000 from HKD 129,000[94] Governance and Compliance - The company confirmed compliance with the standards for directors' securities trading for the fiscal year 2024[117] - The company has maintained its governance structure with the same individual serving as both Chairperson and CEO, which the board believes is in the best interest of the group[116] - The company does not have any single customer contributing more than 10% of total revenue[127] Future Outlook - The company anticipates a slow economic recovery, focusing on optimizing operational strategies for sustainable growth[99] - The company plans to continue researching, developing, and launching new products and services to enhance customer experience[114] - The company does not recommend or declare any dividends for the 2024 fiscal year[109] - No significant events occurred after the reporting period[118] - The estimated taxable profit in Hong Kong is subject to a tax rate of 16.5%[128]
卓珈控股(01827) - 2024 - 年度业绩