Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of $70,382,000, an increase of 33.9% compared to $52,594,000 in the previous year[3] - The cost of sales for the same period was $70,051,000, resulting in a gross profit of $331,000, down from $1,065,000 in the prior year, indicating a significant decline in profitability[3] - The operating loss for the year was $1,257,000, compared to a loss of $757,000 in the previous year, reflecting a worsening operational performance[3] - The company reported a loss before tax of $1,265,000, which is an increase of 63.1% from the loss of $775,000 in the previous year[3] - Basic and diluted loss per share for the year was $0.25, compared to $0.16 in the previous year, indicating a deterioration in earnings per share[3] - The group reported a pre-tax loss of $1,265,000 for the year ended March 31, 2024, compared to a loss of $829,000 in 2023, indicating a deterioration in financial performance[18] - The pre-tax loss for the fiscal year ending March 31, 2024, was $1.2 million, compared to a pre-tax loss of $0.8 million for the previous year, mainly due to reduced gross profit[32] Revenue and Sales - Total revenue from coal trading for the year ended March 31, 2024, was $70,382,000, an increase from $52,594,000 in 2023, representing a growth of 33.9%[13] - Revenue from major customers contributing over 10% to total revenue included Customer A at $12,396,000 (down 22.9% from $16,068,000 in 2023) and Customer D at $20,811,000 (new in 2024)[11] - The group's revenue from coal and other commodity trading increased to $70.4 million, a 33.8% increase from $52.6 million in the previous year[27] - The group's cash and bank balances as of March 31, 2024, were approximately $6.3 million, down from $7.7 million as of March 31, 2023[34] - The total coal sales volume for the fiscal year ending March 31, 2024, was approximately 0.91 million tons, an increase from 0.67 million tons in the previous year[30] Assets and Liabilities - Total assets decreased to $6,958,000 from $8,274,000 in the previous year, showing a decline in the company's asset base[4] - Current liabilities decreased to $10,895,000 from $10,551,000, indicating a slight improvement in the company's short-term financial obligations[4] - Cash and bank balances decreased to $6,258,000 from $7,695,000, reflecting a reduction in liquidity[4] - Trade receivables and other receivables totaled $1,533,000 as of March 31, 2024, a significant decrease from $11,455,000 in 2023, primarily due to the absence of trade receivables in 2024[20] - Non-current assets reported for the year ended March 31, 2024, included $30,000 in Hong Kong and $2,000 in Singapore, compared to $16,000 and $3,000 respectively in 2023[13] Expenses - The group's selling and administrative expenses for the fiscal year ending March 31, 2024, were approximately $1.6 million, a decrease from $1.8 million in the previous year[31] - The financial expenses incurred for the fiscal year ending March 31, 2024, were $8,000, down from $20,000 in the previous year, primarily due to a reduction in discounted notes[31] Corporate Governance and Compliance - The company has adhered to corporate governance standards, with a noted exception regarding the roles of the Chairman and CEO being held by the same individual[46] - The audit committee has reviewed the accounting principles and practices adopted by the group and has no objections to the audited consolidated financial statements for the year ending March 31, 2024[48] - The consolidated financial statements for the year ending March 31, 2024, have been audited and confirmed by the auditor, Dahua Ma Shiyun Certified Public Accountants Limited[50] Future Outlook and Challenges - The group anticipates facing challenges in the future business environment due to global economic fluctuations, conflicts, and supply-demand dynamics, which may negatively impact business performance and profitability[41] Employee and Shareholder Information - The total number of full-time employees in Hong Kong and Singapore as of March 31, 2024, is 6 (2023: 7)[42] - The company will suspend share transfer registration from September 20, 2024, to September 25, 2024, to determine eligibility for the annual general meeting[43] - The annual performance announcement will be published on the company's website and the Hong Kong Stock Exchange website, with the annual report containing all required information to be sent to shareholders[51]
安域亚洲(00645) - 2024 - 年度业绩