Financial Performance - For the fiscal year ending March 31, 2024, total revenue was HKD 268,024,000, a decrease of 26.7% compared to HKD 365,561,000 for the previous year[3]. - Gross profit for the year was HKD 97,365,000, down 13.4% from HKD 112,411,000 in the prior year[3]. - Operating profit decreased significantly to HKD 39,709,000, representing a decline of 44.2% from HKD 71,067,000 year-over-year[3]. - Net profit for the year was HKD 38,716,000, a decrease of 39.8% compared to HKD 64,205,000 in the previous year[3]. - Basic and diluted earnings per share were HKD 3.0, down from HKD 5.0 in the prior year, reflecting a 40% decline[3]. - The company's profit attributable to equity holders decreased from approximately HKD 64.2 million in FY2023 to about HKD 38.7 million in FY2024, a decline of 39.7%[108]. - The group's net profit margin decreased by 3.2 percentage points from approximately 17.6% to about 14.4% during the same period[108]. Assets and Liabilities - Total assets as of March 31, 2024, amounted to HKD 475,916,000, an increase from HKD 456,779,000 the previous year[5]. - Total liabilities increased to HKD 61,805 million from HKD 51,415 million, representing a growth of 20.5% year-over-year[22]. - Total equity and liabilities reached HKD 475,916 million, compared to HKD 456,779 million, reflecting a growth of 4.2%[22]. - The company reported a total equity of HKD 414,111,000, up from HKD 405,364,000[5]. - The asset-to-liability ratio of the group was zero as of March 31, 2024, unchanged from the previous year[143]. - The group has no significant liabilities as of March 31, 2024, similar to the previous year[145]. Revenue Sources - The company reported significant revenue contributions from personal care appliances, with hair care series generating HKD 244,950,000, down from HKD 328,703,000[16]. - The company reported that five major customers accounted for approximately 99.3% of total revenue, slightly down from 99.4% in the previous year[31]. - The company’s revenue from customer A for the year ending March 31, 2024, is HKD 83,250,000, down from HKD 129,807,000 in 2023, a decline of 36%[54]. - The company recorded a significant drop in sales due to reduced demand for hair care products from two major customers, leading to a revenue of approximately HKD 268.0 million, down from about HKD 365.6 million in the fiscal year 2023[100]. Expenses and Costs - The cost of goods sold was HKD 105,647 million, down from HKD 167,949 million, showing a decrease of 37.1% year-over-year[34]. - Employee costs, including directors' remuneration, amounted to HKD 56,645 million, a decrease from HKD 68,142 million, representing a reduction of 16.5%[34]. - Sales and distribution expenses increased by approximately HKD 16.4 million (approximately 364.4%) to about HKD 20.9 million for the fiscal year 2024, attributed to marketing and distribution costs for launching self-branded personal care products in China and Hong Kong[80]. - Administrative expenses slightly decreased by approximately HKD 1.7 million (4.8%) to about HKD 33.9 million for the fiscal year 2024[81]. - The total employee cost for the group was approximately HKD 56.6 million, down from about HKD 68.1 million in the previous year[116]. Future Plans and Strategies - The company plans to focus on new product development and market expansion strategies in the upcoming fiscal year[3]. - The company plans to continue expanding its market presence and investing in new product development[30]. - The company is focusing on developing its OBM business model to improve overall business performance[78]. - The company plans to accelerate the development of its OBM (Original Brand Manufacturer) business model and continue marketing efforts to promote its self-branded personal care and lifestyle appliances in China and Hong Kong[101]. - The group plans to continue investing in the development of personal care products and ensure sufficient resources for its OBM business[104]. Dividends and Shareholder Returns - The company recognized a final dividend of HKD 29,407 million for the year, compared to HKD 19,178 million in the previous year, marking an increase of 53.4%[37]. - The board does not recommend the payment of a final dividend for the fiscal year 2024, compared to a final dividend of HKD 0.015 and a special dividend of HKD 0.008 for the fiscal year 2023[188]. - The company did not recommend the payment of a final dividend for the year ending March 31, 2024[61]. Market Conditions and Challenges - The company plans to continue facing significant challenges due to geopolitical tensions and economic uncertainties, impacting customer orders and demand[76]. - The company is evaluating the impact of new accounting standards and interpretations, with no significant expected impact on financial performance[28]. - The group will continue to monitor industry developments and regularly review its business expansion plans[146]. Research and Development - The company’s research and development efforts are ongoing, with plans to launch new products according to a structured business plan[77]. - The group aims to enhance its research and engineering capabilities, with a budget allocation of approximately HKD 16.4 million[120]. Cash and Financing - The company’s cash and cash equivalents as of March 31, 2024, total HKD 253,573,000, an increase from HKD 247,126,000 in 2023[46]. - As of March 31, 2024, the group had unused bank financing of approximately HKD 34.5 million[111]. - The group had no bank borrowings as of March 31, 2024, consistent with the previous year[142]. - As of March 31, 2024, the unused proceeds are deposited in several licensed banks in Hong Kong[152].
科利实业控股(01455) - 2024 - 年度业绩