Revenue Performance - The group's total revenue for the year was approximately HKD 85,600,000, an increase of about 2.1% from last year's HKD 83,800,000[23] - Revenue from the printing business increased from approximately HKD 53,000,000 last year to about HKD 59,000,000 this year, an increase of approximately HKD 6,000,000[23] - The group reported a total revenue of HKD 85,584,000 for the fiscal year ending March 31, 2024, compared to HKD 83,758,000 for the previous year, reflecting an increase of approximately 2.2%[86] - Revenue from the manufacturing and trading of printed products in Hong Kong reached HKD 53,384,000, contributing significantly to the overall revenue[86] - Revenue from the manufacturing and trading of printed circuit boards generated revenue of HKD 26,548,000, down from HKD 30,801,000, reflecting a decrease of 13.3%[116] - Revenue from the manufacturing and trading of printed and packaging products increased to HKD 59,036,000 from HKD 52,957,000, marking an increase of 11.8%[116] - Revenue from external customers for 2024 reached HKD 85,584,000, a slight increase of 2.2% from HKD 83,758,000 in 2023[179] - Revenue breakdown by region shows significant growth in Hong Kong, with earnings of HKD 57,376,000, up 24.6% from HKD 46,054,000 in 2023[179] - European revenue increased by 64.2% to HKD 19,584,000 from HKD 11,926,000 in the previous year[179] - North American revenue saw a decline of 95.1%, dropping to HKD 637,000 from HKD 12,979,000[179] Profitability and Loss - The group's gross profit margin improved to approximately 20.7%, up from about 19.1% last year[25] - The printing business recorded a segment profit of approximately HKD 2,100,000, compared to a segment loss of about HKD 800,000 last year[24] - The group recorded a total net loss of approximately HKD 11.9 million for the year, a decrease from a net loss of approximately HKD 26 million in the previous year[48] - The group's gross profit increased to approximately HKD 17.7 million, compared to approximately HKD 16 million in the previous year, reflecting an increase of about HKD 1.7 million[48] - The total comprehensive loss for the year was HKD 12,101,000, compared to HKD 26,747,000 in the previous year, showing a reduction of 54.8%[105] - The company reported a pre-tax loss of HKD 11,873,000 for the fiscal year ending March 31, 2024, compared to a loss of HKD 25,868,000 in the previous year, indicating a significant improvement[132] - The company incurred a loss attributable to owners of the company of HKD 11,873,000 for the current year, a significant improvement from the loss of HKD 26,017,000 in the previous year[99] - The company’s net loss for the year was HKD 11,873,000, compared to a net loss of HKD 26,017,000 in the previous year, showing a reduction in losses[132] Financial Position - The capital debt ratio decreased to 0.3% as of March 31, 2024, down from 1.0% in 2023, primarily due to a reduction in lease liabilities of approximately HKD 800,000[26] - The current ratio as of March 31, 2024, was 2.50 times, compared to 2.47 times in 2023[26] - The company’s total liabilities amounted to HKD 31,296,000, with total assets of HKD 125,109,000, indicating a healthy asset-to-liability ratio[89] - The company’s total assets decreased to HKD 78,213,000 from HKD 94,673,000, a decline of about 17% year-over-year[134] - The company’s total liabilities decreased to HKD 31,282,000 from HKD 38,376,000, a reduction of approximately 18%[134] Cash Flow and Investments - As of March 31, 2024, the group's cash and bank balances totaled approximately HKD 37.6 million, down from approximately HKD 49.6 million as of March 31, 2023[49] - The group provided a loan of approximately HKD 19.8 million to Noricap Fund for temporary investments aimed at achieving stable returns[40] - The group has agreed to liquidate temporary investments early due to global economic uncertainties, seeking other risk-adjusted return opportunities[67] - The group’s cash and cash equivalents at the end of the reporting period amounted to HKD 799,000[82] Employee Costs - Total employee costs for the year, including directors' remuneration, were approximately HKD 29,200,000, down from about HKD 33,900,000 last year[31] - Employee costs (excluding directors' remuneration) decreased to HKD 24,585,000 from HKD 28,769,000, reflecting a reduction of 14.3%[181] Corporate Governance and Compliance - The group has complied with all applicable corporate governance code provisions, except for the separation of the roles of Chairman and CEO, which are held by the same individual[68] - The group’s financial statements have been reviewed by its auditor, confirming consistency with the preliminary performance announcement[71] - The group’s operations are delegated to executive directors and senior management, ensuring effective promotion of business development[68] Future Outlook and Strategic Initiatives - The group is actively exploring trade opportunities and intends to resume its trading business, having signed a non-binding memorandum of understanding with an independent third party to establish a joint venture for energy and resource-related products trading[39] - The board anticipates that demand for circuit board products will continue to be under pressure due to the slow global economic recovery and uncertainties in the macroeconomic environment[45] - The group has implemented cost control measures and inventory management optimization in response to continued pressure on demand due to the uncertain macroeconomic environment[45] - The group plans to closely monitor the establishment and development of special purpose funds as a favorable investment opportunity for future growth[68] Joint Ventures and Collaborations - The group has entered into a joint venture agreement to acquire a 40% stake in Noricap Fund, which focuses on investment holding and managing special purpose funds[61] - The group holds a 40% ownership interest in joint ventures, with a book value of HKD 477,000, down from HKD 635,000 in the previous year[186] - The group has no capital commitments or contingent liabilities related to joint ventures[190] Loss Provisions and Impairments - The group has recognized an increase in loss provisions amounting to HKD 1,093,000 for the fiscal year ending March 31, 2024[81] - The company recognized a net impairment loss of HKD 234,000 on trade receivables, compared to a reversal of HKD 248,000 in the previous year[110] - The group recorded a credit loss of approximately HKD 1,093,000 on joint venture loans for the year ending March 31, 2024, compared to no losses in 2023[188] Miscellaneous - The board does not recommend the payment of a final dividend for the year ending March 31, 2024, consistent with the previous year[56] - The group has not recorded any revenue or loss from its oil and energy products trading and related businesses since 2019, with no segment revenue or loss reported for the current year[46] - The company recorded interest income of HKD 250,000, an increase from HKD 176,000 in the previous year, marking a growth of about 42%[128] - The company’s government subsidies decreased to HKD 220,000 from HKD 431,000, reflecting a decline of about 49%[128]
大昌微线集团(00567) - 2024 - 年度业绩