Financial Performance - The total revenue for the year ended March 31, 2024, was approximately HKD 69.9 million, a decrease of about 26.8% compared to HKD 95.5 million for the year ended March 31, 2023[3] - The group recorded a total comprehensive loss attributable to equity holders of approximately HKD 28.4 million for the fiscal year 2024, compared to a loss of about HKD 20.5 million in fiscal year 2023[3] - The operating loss for fiscal year 2024 was approximately HKD 22.7 million, compared to HKD 21.2 million in fiscal year 2023, excluding the impact of one-off items[3] - The gross profit for the year was approximately HKD 9.4 million, down from HKD 14.7 million in the previous year[5] - The basic and diluted loss per share for the year was HKD 9.6, compared to HKD 9.9 in the previous year[5] - Other income for the year was significantly lower, with no specific figures provided for fiscal year 2024 compared to HKD 3.9 million in fiscal year 2023[5] - The company reported a net loss of HKD 28,670,570 for the year ending March 31, 2024, and a net cash outflow from operating activities of HKD 32,839,105[38] - The group recorded a pre-tax loss of HKD 28,437,446 for the year ended March 31, 2024, compared to a loss of HKD 20,502,806 in the previous year[103] Assets and Liabilities - Total non-current assets increased to HKD 29,636,138 in 2024 from HKD 19,823,574 in 2023, representing a growth of approximately 49%[23] - Current assets rose to HKD 22,879,705 in 2024, up from HKD 12,990,458 in 2023, marking an increase of about 76%[23] - The company's total liabilities decreased slightly from HKD 29,576,723 in 2023 to HKD 29,727,855 in 2024, indicating a marginal increase of 0.5%[24] - Cash and cash equivalents significantly increased to HKD 9,778,940 in 2024, compared to HKD 4,958,855 in 2023, reflecting a growth of approximately 97%[23] - The company recorded a net current liability of HKD 6,848,150 in 2024, an improvement from HKD 16,586,265 in 2023, showing a reduction of approximately 59%[23] - Trade and other receivables surged to HKD 11,065,545 in 2024, up from HKD 5,988,874 in 2023, representing an increase of about 85%[23] - Trade payables decreased significantly to HKD 4,942,652 in 2024 from HKD 15,572,702 in 2023, a reduction of approximately 68.3%[118] Corporate Actions - The board does not recommend the payment of a final dividend for the year ended March 31, 2024[3] - The company completed a rights issue on February 6, 2024, issuing 299,400,000 new ordinary shares, raising approximately HKD 34.4 million[71] - The net proceeds from the rights issue, after accounting for related expenses, amounted to approximately HKD 32.7 million, with a net price of about HKD 0.109 per rights share[71] - The company has not declared or proposed any dividends for the fiscal year 2024, consistent with the previous year[111] - The company did not recommend a final dividend for the fiscal year 2024, consistent with the previous fiscal year[159] Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code, except for a deviation noted in section C.2.1[46] - The audit committee, composed entirely of independent non-executive directors, reviewed the annual performance and found it compliant with applicable accounting standards and GEM listing rules[51] - The company plans to continue monitoring and reviewing its practices to maintain high standards of corporate governance[47] Employee and Operational Matters - Employee costs for the fiscal year 2024 amounted to approximately 20.3 million HKD, down from 26.0 million HKD in fiscal year 2023[78] - The company employed 39 full-time employees in Hong Kong as of March 31, 2024, down from 69 employees a year earlier[78] - The total cost of retirement benefit contributions for the fiscal year 2024 was approximately 0.7 million HKD, compared to about 1.0 million HKD in fiscal year 2023[78] - The group has implemented cost control measures, including streamlining workflows and tightening advertising expenses to increase cash flow[87] Future Plans and Developments - Management plans to expand digital printing services and acquire two sets of four-color digital inkjet printers for a total of 18.7 million HKD to improve gross margins[86] - The company plans to expand its printing business into mainland China starting from the fiscal year ending March 31, 2025, which is expected to create new opportunities[128] - The company plans to fully utilize the net proceeds for settling additional employee salaries by the end of the fiscal year ending March 31, 2025[75] - The company anticipates that the net proceeds for settling rental payments will be fully utilized by the end of the fiscal year ending March 31, 2025[77] Risks and Uncertainties - The company faces significant uncertainty regarding its ability to continue as a going concern, dependent on the successful implementation of its plans and measures[89] - The group relies on subcontractors for printing services, which may impact business and reputation if they fail to meet requirements[173]
环球印馆(08448) - 2024 - 年度业绩