Financial Performance - The total revenue for the year was approximately HKD 628.1 million, a decrease of about HKD 124.4 million or 16.5% compared to the previous year's revenue of approximately HKD 752.5 million[24]. - The company reported a loss of approximately HKD 15 million for the year, compared to a profit of HKD 43.7 million in the previous year[24]. - The basic loss per share for the year was HKD 0.024, while the previous year's basic earnings per share were HKD 0.0775[24]. - Gross profit for the year was HKD 70.976 million, down from HKD 126.718 million in the previous year[2]. - The group reported a pre-tax loss of HKD 16,807,000 for the year[43]. - The company recorded a net loss of approximately HKD 15 million for the year, compared to a net profit of approximately HKD 43.7 million in the previous year[87]. - The group recorded a loss of HKD 14.973 million for the year ended March 31, 2024, compared to a profit of HKD 43.737 million in the previous year[195]. Revenue Breakdown - Revenue from the distribution business for the year was approximately HKD 413.7 million, a decrease of about HKD 91.3 million or 18.1% compared to approximately HKD 505 million in the previous year[81]. - Revenue from the system integration solutions business for the year was approximately HKD 214.4 million, down about HKD 33.1 million or 13.4% from approximately HKD 247.5 million in the previous year[81]. - Total revenue for the year ended March 31, 2024, decreased by approximately HKD 124.4 million or 16.5% to about HKD 628.1 million from approximately HKD 752.5 million in the previous year[81]. Expenses and Costs - Total operating expenses, including sales and distribution expenses, were HKD 36.170 million and administrative expenses were HKD 34.470 million[2]. - Administrative expenses increased by approximately HKD 3.8 million or 12.4% to about HKD 34.5 million, mainly due to higher legal and professional fees[84]. - Sales cost decreased by approximately HKD 68.7 million or 11.0% to about HKD 557.1 million, consistent with the decline in revenue during the same period[178]. - Financing costs for the year were HKD 3.705 million, compared to HKD 2.971 million in the previous year[2]. - Financing costs increased by approximately HKD 700,000 or 23.3% to about HKD 3.7 million, primarily due to increased interest from bank borrowings[181]. Assets and Liabilities - Non-current assets totaled HKD 27.752 million, a slight decrease from HKD 28.944 million in the previous year[6]. - Current assets increased to HKD 453.006 million from HKD 358.790 million in the previous year[6]. - The company's total equity decreased to HKD 193.862 million from HKD 209.159 million in the previous year[6]. - Net debt increased from approximately HKD 42.1 million as of March 31, 2023, to approximately HKD 57.3 million as of March 31, 2024, primarily due to a significant decrease in cash and cash equivalents[88]. - The total trade receivables increased to HKD 382,444,000 in 2024 from HKD 246,474,000 in 2023, representing a growth of 55%[171]. Tax and Dividends - The company recorded a tax credit of approximately HKD 1,800,000 for the current year, compared to a tax expense of about HKD 9,200,000 in the previous year, attributed to a net loss this year versus a net profit last year[64]. - The company did not declare or pay any dividends to shareholders for the year ended March 31, 2024[75]. - The group did not declare any final dividend for the year ended March 31, 2024, consistent with the previous year[189]. Market and Industry Outlook - The company anticipates continued growth in Hong Kong's IT industry driven by increased internet usage through smartphones and high-speed broadband connections[54]. - The demand for hyper-converged infrastructure products is expected to rise due to increased investments in data center infrastructure in Hong Kong[55]. - The company is focusing on the demand for AI infrastructure, including AI servers and storage, driven by the adoption of machine learning and deep learning technologies in Hong Kong[176]. Governance and Compliance - The company has a strong governance structure, with the roles of Chairman and CEO held by the same individual, Mr. Ye, since 2013, which the board believes provides effective leadership[147]. - The audit committee, composed of three independent non-executive directors, has reviewed and agreed on the accounting principles and practices adopted by the group[135]. - The group’s financial statements for the year ended March 31, 2024, have been agreed upon by the auditors and are consistent with the amounts approved by the board[136]. Other Information - The company sold properties and equipment worth approximately HKD 56,000,000 during the year, compared to about HKD 17,998,000 in the previous year[49]. - The group incurred a penalty of HKD 1.345 million, which has been recognized in the financial statements for the year ended March 31, 2024[187]. - The group faced foreign exchange risks primarily from sales in HKD and approximately 32.2% of procurement valued in USD[188].
数科集团(02350) - 2024 - 年度业绩