Revenue Performance - The group's restaurant revenue for the year was HKD 315,653,000, an increase of 17% compared to HKD 270,267,000 last year, driven by the lifting of COVID-19 restrictions and border reopening[3]. - The food business revenue decreased by 23% to HKD 218,446,000 from HKD 283,257,000 last year, primarily due to a reduction in food sales[3]. - The overall revenue for the group was HKD 661,856,000, a decrease of 3% from HKD 683,482,000 last year, with a shareholder loss of HKD 250,250,000 compared to a loss of HKD 175,680,000 last year[10]. - The group's hotel business recorded revenue of HKD 25,192,000, an increase of 20% from HKD 20,937,000 last year, with operating losses reduced by 14%[4]. - The restaurant, food, and hotel segment revenue for the year was HKD 559,291,000, down 3% from HKD 574,461,000 in 2023, with a segment loss of HKD 73,781,000 compared to a profit of HKD 8,970,000 in the prior year[27]. - Revenue from the restaurant, food, and hotel segment for the year ended March 31, 2024, was HKD 559,291,000, a decrease from HKD 574,461,000 in the previous year[63]. - Total revenue for the year ended March 31, 2024, was HKD 661,856,000, compared to HKD 683,482,000 for the previous year, reflecting a decline of approximately 3.6%[63]. Financial Position - The group's net asset value, after deducting non-controlling interests, was HKD 3,095,292,000, down from HKD 3,585,202,000 last year[11]. - The group's bank borrowings amounted to HKD 1,660,035,000, a decrease from HKD 1,699,047,000 last year, with a net debt of HKD 1,574,852,000[13]. - The group reported a net loss of approximately HKD 261,089,000 for the year ended March 31, 2024, compared to a loss of HKD 169,733,000 in the previous year, representing an increase in loss of 53.8%[45]. - As of March 31, 2024, the group's current liabilities exceeded its current assets by approximately HKD 844,049,000, compared to HKD 285,656,000 in the previous year, indicating a significant deterioration in liquidity[45]. - The total non-current assets decreased from HKD 4,827,642,000 in 2023 to HKD 4,587,053,000 in 2024, a decline of 4.9%[42]. - The group's cash and bank balances decreased from HKD 287,707,000 in 2023 to HKD 127,369,000 in 2024, a reduction of 55.7%[42]. - The total liabilities increased from HKD 2,903,869,000 in 2023 to HKD 3,039,619,000 in 2024, reflecting an increase of 4.7%[43]. - The group’s total equity decreased from HKD 3,585,202,000 in 2023 to HKD 3,095,292,000 in 2024, a decrease of 13.6%[43]. - The group’s current liabilities included interest-bearing bank borrowings of approximately HKD 1,450,391,000, with about HKD 835,324,000 drawn from revolving loans[45]. Operational Challenges - The group anticipates that the current high interest rate environment will persist, significantly increasing operational costs, and will implement strict cost control measures[9]. - The group remains cautiously optimistic about the economic outlook for the coming year, despite ongoing uncertainties in the market[6]. - The group did not employ any derivative instruments to hedge its foreign currency risks, indicating a potential exposure to currency fluctuations[34]. Property and Investment - The group's property segment revenue for the year ended March 31, 2024, was HKD 102,565,000, a decrease of 6% compared to HKD 109,021,000 in 2023, primarily due to reduced property sales revenue[24]. - Rental income from investment properties increased by 4% to HKD 100,272,000 for the year, up from HKD 96,045,000 in the previous year, as leasing activities normalized following the easing of COVID-19 restrictions[24]. - The group reported a loss of HKD 45,087,000 in the property segment, a significant improvement from a loss of HKD 96,642,000 in the previous year, mainly due to reduced valuation losses on investment properties[24]. - The group has completed the construction of the Haitan Street redevelopment project, which consists of 115 residential units and two commercial shops, with 96 units sold to date[26]. - The group has entered into an agreement to sell 100% equity of Yiyang Jianing International Hotel Management Co., Ltd. for RMB 130,000,000 (approximately HKD 140,200,000)[31]. - The group expects to receive net proceeds of approximately HKD 51,800,000 from the sale of residential units in the Haidan Street redevelopment project between August and October 2024[53]. Shareholder Matters - The group did not recommend the payment of a final dividend for the year ended March 31, 2024[67]. - The board does not recommend the payment of a final dividend for the year ended March 31, 2024, consistent with the previous year[124]. - The annual general meeting is scheduled for August 28, 2024, to discuss shareholder matters[125]. Accounting and Reporting - The group has adopted new and revised Hong Kong Financial Reporting Standards applicable to the financial statements for the year[77]. - The group’s financial position remains stable, with no significant impact from the recent accounting standard revisions[56]. - The group recognized a goodwill impairment of HKD 24,419,000, compared to HKD 11,889,000 in the previous year, indicating an increase of approximately 105.5%[100]. - The group incurred a financial cost of HKD 127.036 million, which increased from HKD 84.283 million in the previous year[123]. - The group’s operating expenses included sales and distribution expenses of HKD 141.847 million, which increased from HKD 136.163 million in the prior year[123].
佳宁娜(00126) - 2024 - 年度业绩