Financial Performance - For the fiscal year ending March 31, 2024, the company reported revenue of HKD 102.5 million, a decrease of 46% compared to HKD 189.4 million in the previous year[11]. - Gross profit for the same period was HKD 9.4 million, down from HKD 15.1 million, reflecting a decline of approximately 37%[11]. - The company recorded a net loss after tax of HKD 36.7 million, compared to a net loss of HKD 23.2 million in the prior year, indicating a worsening of 58%[11]. - Basic and diluted loss per share was HKD 4.59, compared to HKD 2.90 in the previous year, representing an increase of 58% in losses per share[11]. - Total revenue decreased by approximately HKD 86.9 million or 45.9% to about HKD 102.5 million for the year ending March 31, 2024, compared to HKD 189.4 million for the previous year[26]. - Revenue from construction contracts fell from approximately HKD 165.2 million to about HKD 96.9 million, a decrease of approximately HKD 68.3 million or 41.3%[27]. - The net loss for the year ended March 31, 2024, was approximately HKD 36.7 million, compared to a net loss of HKD 23.2 million for the previous year[49]. - The gross profit decreased by approximately HKD 5.7 million or 37.7% to about HKD 9.4 million for the year ended March 31, 2024, while the gross profit margin slightly increased to approximately 9.2%[53]. - The group reported a pre-tax loss of HKD 23,183,000 for the current period[146]. Assets and Liabilities - As of March 31, 2024, the company's cash and bank balances were approximately HKD 29.7 million, while current bank borrowings amounted to HKD 52.2 million[17]. - Total assets less current liabilities were HKD 92.7 million, down from HKD 130.1 million in the previous year, indicating a decrease of approximately 29%[15]. - The company’s total liabilities decreased from HKD 101.1 million to HKD 76.8 million, a reduction of approximately 24%[15]. - The asset-liability ratio was reported at 57.4% as of the reporting period, compared to 51.5% in the previous year[90]. - The group's net current assets as of March 31, 2024, are approximately HKD 35.8 million, down from HKD 70.5 million in 2023, indicating a reduction of about 49%[152]. Cash Flow and Financing - The company aims to ensure sufficient working capital for normal operations over the next twelve months based on estimated future cash flows[17]. - Bank borrowings decreased from approximately HKD 64.5 million as of March 31, 2023, to about HKD 52.2 million as of March 31, 2024[49]. - The group anticipates future operations and expansion plans will primarily be funded through operating cash flows and bank borrowings[91]. - The group primarily funds its working capital and capital requirements through bank borrowings and cash generated from operating activities[151]. Expenses - The company’s administrative expenses increased to HKD 38.2 million from HKD 33.8 million, reflecting a rise of approximately 13%[14]. - The group reported a total employee cost of HKD 18,680,000 in 2024, down from HKD 19,342,000 in 2023, a reduction of 3.4%[59]. - Financial costs rose to approximately HKD 5,200,000 in 2024, an increase of 52.9% from HKD 3,400,000 in 2023[63]. - The group recorded a significant increase in impairment losses, which contributed to the rise in administrative expenses[84]. Revenue Sources - Revenue from major customers included HKD 12.227 million from Customer A and HKD 25.966 million from Customer C for the year ended March 31, 2024[39]. - The group's revenue from sales of building materials decreased from approximately HKD 24.2 million for the year ended March 31, 2023, to approximately HKD 5.6 million for the year ended March 31, 2024, representing a decline of about 76.9%[129]. - Revenue from gypsum brick products fell from approximately HKD 22.1 million for the year ended March 31, 2023, to approximately HKD 4.8 million for the year ended March 31, 2024[129]. - The group reported external sales of HKD 5.6 million in building materials and HKD 96.9 million in construction and engineering services for a total revenue of HKD 102.5 million for the year ended March 31, 2024[135]. Corporate Governance - The group has adopted corporate governance guidelines to ensure shareholder interests and enhance corporate value[103]. - The chairman and CEO roles are held by the same individual, Mr. Lu, which deviates from corporate governance guidelines[104]. - The audit committee has reviewed and recommended the approval of the consolidated financial statements for the year ending March 31, 2024[107]. - The group is committed to maintaining high levels of corporate governance to protect shareholder interests[103]. Market Conditions and Future Outlook - The group anticipates continued demand for antibacterial crystal wall panels due to increased public health awareness post-COVID-19[22]. - The group is focusing on vertical integration and diversifying its business segments in the renovation industry[23]. - The group may face delays and cost overruns due to various factors, including material shortages and adverse weather conditions[110]. - The group continues to monitor currency fluctuations and will take proactive measures as necessary[112].
乙德投资控股(06182) - 2024 - 年度业绩