Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 188,549,000, a decrease of 24% from HKD 247,893,000 in the previous year[3]. - The gross profit for the year was HKD 7,736,000, compared to HKD 4,645,000 in the previous year, indicating an increase of 66.7%[3]. - The company recorded a net loss of HKD 31,029,000 for the year, which is a significant increase from a net loss of HKD 14,658,000 in the previous year[3]. - The company’s basic and diluted loss per share was HKD 8.01, compared to HKD 3.07 in the previous year, indicating a worsening of 160%[3]. - The total segment loss for the year ended March 31, 2024, was HKD 7,574,000, compared to a loss of HKD 11,897,000 in the previous year[29]. - The company recorded a pre-tax loss of HKD 30,885,000 for the year ended March 31, 2024, compared to a pre-tax loss of HKD 12,618,000 in the previous year[29]. - The annual loss attributable to the company's owners increased from approximately HKD 11.9 million to about HKD 31.1 million, an increase of approximately 160.8%, with a basic loss per share of HKD 8.01[89]. Revenue Breakdown - Revenue from jewelry products was HKD 18,000,000, down from HKD 26,709,000, representing a decline of 32.5%[19]. - Revenue from liquefied natural gas was HKD 105,347,000, a decrease of 45% compared to HKD 191,716,000 in the previous year[19]. - Revenue from finished oil increased significantly to HKD 64,857,000 from HKD 27,927,000, marking an increase of 132%[19]. - The jewelry business generated revenue of HKD 18,000,000, down from HKD 26,709,000, while the energy business reported revenue of HKD 170,549,000, down from HKD 221,184,000[29]. - Energy business revenue decreased from approximately HKD 221.2 million to HKD 170.5 million, a decline of about 22.9%, mainly due to reduced sales of liquefied natural gas[78]. - Jewelry business revenue fell from approximately HKD 26.7 million to HKD 18.0 million, a decrease of about 32.6%, attributed to intensified market competition and economic instability[78]. Assets and Liabilities - Total assets decreased to HKD 222,765,000 from HKD 226,412,000, reflecting a decline of 1.9%[5]. - Current assets increased to HKD 49,289,000 from HKD 37,439,000, representing a growth of 31.5%[5]. - Non-current liabilities rose to HKD 194,937,000 from HKD 171,999,000, marking an increase of 13.3%[7]. - Total assets increased to HKD 259,322,000 in 2024 from HKD 256,015,000 in 2023, while total liabilities rose to HKD 231,494,000 from HKD 201,602,000[31]. - As of March 31, 2024, the group's total assets and total liabilities were approximately HKD 259.3 million and HKD 231.5 million, respectively, resulting in a debt ratio of approximately 89.3%[101]. Cash Flow and Financial Position - The company's cash and cash equivalents increased to HKD 16,290,000 from HKD 13,122,000, a rise of 24.8%[5]. - Cash and bank balances increased to HKD 16,290,000 in 2024 from HKD 13,122,000 in 2023[31]. - The group's interest-bearing bank borrowings amounted to approximately HKD 23.0 million, with an annual interest rate of 4.5%[97]. - The fair value of the convertible bonds' debt portion and the generated derivative financial instruments were approximately HKD 36.9 million and HKD 17.0 million, respectively[100]. Business Strategy and Market Conditions - The company plans to continue its focus on expanding its jewelry and energy business in China and Hong Kong[9]. - The company is focusing on maintaining supply chain stability through close cooperation with suppliers, enhancing logistics and distribution efficiency[58]. - The overall demand for jewelry in China has increased, driven by a recovery in consumer purchasing power and confidence in the economic outlook[63]. - The competitive environment in the jewelry market has intensified, impacting sales and leading to a more cautious consumer sentiment[62]. - The solar energy business faced significant pressure due to declining product prices and a tightening financing environment, leading to a notable decrease in revenue for the year[58]. Compliance and Governance - The audit committee reviewed the consolidated financial statements for the year and confirmed compliance with applicable accounting standards and disclosure requirements[119]. - Deloitte has confirmed that the preliminary financial figures align with the audited financial statements approved by the board[124]. - The company has adopted the standards set forth in Appendix C3 of the listing rules regarding securities trading by directors[131]. - All directors have confirmed compliance with the standards outlined in the code throughout the year[131]. Employee and Operational Metrics - The total employee costs recognized as expenses amounted to HKD 180,813,000, a decrease from HKD 243,248,000 in the previous year[38]. - The group employed 64 staff as of March 31, 2024, an increase from 60 staff the previous year, with competitive salaries and performance-based bonuses offered[106].
中发展控股(00475) - 2024 - 年度业绩