Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue from lending of HKD 14,029,000, a decrease of 36.4% compared to HKD 22,062,000 in the previous year[5]. - Revenue from the sale of goods was HKD 39,289,000, down 20.4% from HKD 49,337,000 in the prior year[5]. - The gross profit from the sale of goods was HKD 6,120,000, representing a decline of 25.6% from HKD 8,216,000 year-over-year[5]. - The company recorded a net loss of HKD 114,648,000 for the year, compared to a net loss of HKD 54,104,000 in the previous year, indicating a significant increase in losses[7]. - Basic and diluted loss per share was HKD 0.23, compared to HKD 0.15 in the previous year, reflecting a worsening financial position[7]. - Total reported segment revenue for 2024 was HKD 53,318,000, a decline of 25.3% compared to HKD 71,399,000 in 2023[25]. - The company reported a pre-tax loss of HKD 114,662,000 for 2024, compared to a loss of HKD 54,090,000 in 2023, indicating an increase in losses of approximately 112%[26]. - The company recorded investment and other income of HKD 1,714,000 in 2024, down from HKD 3,755,000 in 2023, a decrease of about 54%[30]. - The net loss from other income and expenses increased significantly to HKD 46,302,000 in 2024 from HKD 7,050,000 in 2023, marking a rise of approximately 558%[31]. Assets and Liabilities - Total assets decreased to HKD 63,955,000 from HKD 135,977,000, a decline of 53% year-over-year[9]. - The company's cash and cash equivalents dropped significantly to HKD 4,913,000 from HKD 25,820,000, a decrease of 81%[9]. - The total equity attributable to the owners of the company fell to HKD 72,803,000 from HKD 171,706,000, a reduction of 57.5%[10]. - Total assets decreased from HKD 188,730,000 in 2023 to HKD 86,850,000 in 2024, a reduction of about 54%[26]. - Total liabilities also decreased from HKD 17,024,000 in 2023 to HKD 14,292,000 in 2024, representing a decline of approximately 16%[26]. - The group’s total liabilities for trade payables and other payables increased to HKD 10,251,000 in 2024 from HKD 7,779,000 in 2023[49]. Revenue Segments - Revenue from customer contracts under HKFRS 15 for the year 2024 was HKD 39,289,000, a decrease of 20.4% from HKD 49,337,000 in 2023[21]. - Revenue from lending for the year 2024 was HKD 14,029,000, down 36.4% from HKD 22,062,000 in 2023[25]. - The gross loss from lending operations for 2024 was HKD 16,830,000, compared to a profit of HKD 2,041,000 in 2023[25]. - The gross loss from grocery retail and wholesale for 2024 was HKD 14,939,000, compared to a loss of HKD 21,306,000 in 2023[25]. - Revenue from the retail and wholesale segment for the year ending March 31, 2024, is approximately HKD 39,300,000, a decrease of about 20.3% compared to HKD 49,300,000 in 2023, attributed to increased competition in the market[81]. Credit Loss Provisions - The company reported a significant increase in expected credit loss provisions for loans and advances, amounting to HKD 22,644,000 in 2024, compared to HKD 8,355,000 in 2023[25]. - The expected credit loss for loans and advances to customers is approximately HKD 22,600,000 for the year ending March 31, 2024, compared to HKD 8,400,000 for the year 2023, indicating a significant increase due to the impact of COVID-19 and economic downturn on borrowers' repayment capabilities[80]. Corporate Governance and Compliance - The board approved the financial statements for publication on June 26, 2024, indicating ongoing governance and compliance efforts[14]. - The audit committee, consisting of four independent non-executive directors, reviewed the company's annual performance for the year ended March 31, 2024[135]. - The consolidated financial statements for the year ending March 31, 2024, have been verified by the independent auditor, confirming the accuracy of the reported figures[136]. - The board of directors has confirmed that all information provided in the announcement is accurate and complete, with no misleading statements or omissions[140]. Share Capital and Equity - The average number of ordinary shares increased from 366,859,658 in 2023 to 506,391,976 in 2024, reflecting a rise of approximately 38%[38]. - The company’s total issued share capital as of March 31, 2024, will be 518,644,031 shares after the completion of subscription matters A and B[107]. - The company conducted a rights issue on August 15, 2023, issuing 1,555,932,093 shares at a subscription price of HKD 0.045 per share, raising approximately HKD 70,000,000 before expenses[112]. - The company agreed to terminate the underwriting agreement on January 16, 2024, due to current market conditions and investor sentiment[112]. Acquisitions and Investments - The company has agreed to acquire 90.1% of the shares in Lian Wang Limited for HKD 1,000,000, subject to certain conditions and completion of the transaction[86]. - The acquisition of 90.1% equity in Pet Supermarket Limited has been completed, and its financial data will be consolidated into the group's financial statements[95]. - The company has established a management agreement with the seller of Pet Supermarket to provide management services for a specified term[97]. - The company is actively exploring new investment opportunities to broaden its business scope and maximize shareholder returns[85]. Operational Adjustments - The group plans to enhance and upgrade its e-commerce system to meet evolving customer needs[55]. - The group is committed to improving its electronic commerce software to better serve customer demands[55]. - The company has launched new product lines in pet products and human health supplements, leading to an increase in inventory and deposits as of March 31, 2024[84]. Employee Compensation - The total employee compensation for the year ended March 31, 2024, was approximately HKD 20,800,000, down from HKD 33,200,000 in 2023, with a reduction in full-time employees from 75 to 38[125]. Miscellaneous - The company changed its name from "Easy Repay Finance & Investment Limited" to "Wisdomcome Group Holdings Limited," effective June 4, 2023, in Bermuda and June 16, 2023, in Hong Kong[108].
仍志集团控股(08079) - 2024 - 年度业绩