Revenue and Profitability - Revenue for the year ended March 31, 2024, was HKD 8,196,207, an increase of 11.8% from HKD 7,134,302 in the previous year[2] - Gross profit for the same period was HKD 854,697, slightly up from HKD 846,267, indicating a stable gross margin[2] - The net loss attributable to the company's operations was HKD 154,488, compared to a profit of HKD 406,693 in the previous year, marking a significant downturn[2] - Total revenue for the year ending March 31, 2024, reached HKD 8,196,207 thousand, reflecting a decrease of HKD 129,253 thousand compared to the previous year[37] - The group recorded a post-tax loss of HKD 323 million for the year ending March 31, 2024, compared to a post-tax profit of HKD 293 million for the previous year[89] - The company reported a loss of HKD 322.764 million for the year, compared to a profit of HKD 292.655 million in the previous year[165] Financial Position - Total liabilities as of March 31, 2024, amounted to HKD 4,878,300, an increase from HKD 4,562,371 in the previous year[7] - Total equity decreased to HKD 10,342,336 from HKD 11,033,762, indicating a reduction in shareholder value[7] - The total assets of the company increased to HKD 20,364,555 thousand from HKD 20,129,189 thousand, showing a growth of HKD 235,366 thousand[41] - The total liabilities rose to HKD 10,022,219 thousand, up from HKD 9,095,427 thousand, indicating an increase of HKD 926,792 thousand[41] - The company’s liabilities totaled HKD 4,961,277 as of March 31, 2024, compared to HKD 4,675,045 in the previous year, indicating an increase in financial obligations[55] - The net asset value attributable to shareholders as of March 31, 2024, was HKD 9.785 billion, down HKD 642 million from HKD 10.427 billion (restated) in the previous year[148] Expenses and Costs - Financial expenses increased to HKD 127,376 from HKD 84,758, reflecting higher borrowing costs[3] - The company reported a tax expense of HKD 161,512, compared to HKD 153,784 in the previous year, representing a 5.3% increase[18] - The company’s financial expenses increased to HKD 82,500, up from HKD 54,712 in the previous year[54] - The company recognized a decrease in government grants to HKD 7,494 from HKD 48,154 in the previous year[45] - The company experienced a significant increase in operational costs due to inflation, impacting overall performance despite successful customer retention[147] Revenue Segmentation - The group's income from property development and operations amounted to HKD 622,881 thousand, down HKD 45,022 thousand year-on-year[37] - The healthcare investment segment generated revenue of HKD 1,552,983 thousand, with no year-on-year change reported[37] - Revenue from construction and installation contracts was HKD 3,886,381, up 30.4% from HKD 2,980,732 in the previous year[45] - Revenue from information technology equipment, automotive, and other sales increased to HKD 1,668,583, a rise of 7.7% from HKD 1,549,244[45] - The total income from property sales was HKD 163,925, significantly up from HKD 101,709 in 2023, marking a 61.0% increase[45] - Revenue from healthcare investment rose by 3.9% to HKD 956 million, primarily due to increased occupancy rates in nursing homes in Oregon, USA[140] Asset Management - The company confirmed impairment losses on properties under development amounting to HKD 190,500 thousand, reflecting ongoing challenges in asset valuation[37] - Non-current assets by region show significant investments in Hong Kong, China, and the United States, with total non-current assets valued at HKD 10,334,872[58] - The company reported a significant increase in investment property fair value, netting HKD 3,023,000 in 2024 compared to HKD 103,879,000 in 2023[70] - The company reported a loss of HKD 190,500,000 for development properties in 2024, indicating a significant financial challenge[70] - Non-current assets increased to HKD 11,547,152 thousand as of March 31, 2024, compared to HKD 11,881,679 thousand in the previous year, reflecting a decrease of 2.8%[166] Dividends and Shareholder Returns - The proposed final dividend per share for 2024 is HKD 0.14, down from HKD 0.28 in 2023, with total dividends for the year amounting to HKD 60,386 compared to HKD 114,733 in the previous year[68] - The board proposed a final cash dividend of HKD 0.14 per share, down from HKD 0.28 per share in the previous year, resulting in a total dividend of HKD 0.20 for the year[107] Strategic Initiatives and Future Outlook - The company is focusing on capitalizing cash flows from all product lines and systematically allocating them to issued and expected insurance contracts[12] - The company plans to expand its operations in Canada and Australia, enhancing its market presence in these regions[57] - The group plans to develop a modern industrial building on a site of approximately 88,000 square feet in Fanling, aligning with the government's vision for the Northern Metropolis[138] - The group is actively participating in the development of a "medical-social integration" retirement project in Happy Valley, with operations expected to commence by the end of 2024[141] - The group aims to enhance operational efficiency and provide reliable services while cautiously underwriting new business[123] Market Conditions and Economic Factors - The automotive agency in Canada anticipates a slowdown in car sales due to economic deceleration, despite a boost from new government policies and consumer savings[122] - The group remains confident in the Hong Kong economy, citing low tax rates and a stable political environment as key factors for future growth[148]
CHEVALIER INT'L(00025) - 2024 - 年度业绩