Financial Performance - Revenue from continuing operations for the year ended March 31, 2024, was approximately HKD 102,484,000, a decrease of 13% compared to the previous year[12] - The loss for the year amounted to HKD 322,522,000, an increase of 63.4% from the previous year's loss of HKD 197,419,000[12] - The total comprehensive expenses for the year were HKD 352,939,000, compared to HKD 325,024,000 in the previous year[9] - The loss attributable to owners of the company from continuing operations was HKD 273,702,000, compared to HKD 240,428,000 in the previous year[3] - The basic and diluted loss per share from continuing operations was HKD 4.385, compared to HKD 2.694 in the previous year[4] - The company reported a significant increase in operating loss to HKD 245,624,000 from HKD 194,277,000 in the previous year[13] - The company reported a pre-tax loss of HKD 274,851,000 for 2024, compared to a pre-tax loss of HKD 244,773,000 in 2023[36] - The company recorded a total loss for the year of HKD (319,846,000), compared to a loss of HKD (196,544,000) in the previous year, reflecting an increase in loss of approximately 62.5%[94] - The company recorded a loss from continuing operations of approximately HKD 276,378,000, an increase of about 14.5% compared to the previous year's loss of HKD 241,303,000[114] Equity and Assets - Total equity as of March 31, 2024, was approximately HKD 1,168,777,000, a decrease of 23.2% from HKD 1,521,716,000 as of March 31, 2023[12] - The net asset value per share as of March 31, 2024, was HKD 0.16, down 23.8% from HKD 0.21 as of March 31, 2023[12] - The total assets as of March 31, 2024, were HKD 1,564,676,000, down from HKD 2,558,371,000 in 2023[26] - The total equity decreased to HKD 1,168,777,000 in 2024 from HKD 1,521,716,000 in 2023, indicating a decline of about 23.2%[92] - The company’s total assets less current liabilities stood at HKD 1,228.4 million, a decrease from HKD 1,591.3 million in the previous year[175] Revenue Breakdown - Agricultural business revenue for 2024 was HKD 73,901,000, down 17.7% from HKD 89,749,000 in 2023[36] - Total revenue for 2024 was HKD 102,484,000, a decrease of 12.9% compared to HKD 117,777,000 in 2023[36] - The company’s hotel business generated revenue of HKD 1,087,140,000 for the year, a decrease from HKD 1,766,460,000 in the previous year[73] - The hotel business generated no revenue this year, down from HKD 28,615,000 in the previous year, resulting in a pre-tax loss of approximately HKD 22,069,000[131] - The company’s agricultural business reported revenue of HKD 68,998,000 for the year ended March 31, 2024, compared to HKD 79,414,000 in the previous year[190] Impairment and Losses - The company incurred a loss of HKD 16,608,000 due to impairment of mining rights[36] - The impairment loss on mining rights increased by approximately 219% to about HKD 52,974,000, compared to HKD 16,608,000 in the previous year[114] - The fair value loss of biological assets amounted to HKD 168,966,000[36] - The fair value changes of investment properties resulted in a loss of HKD 151,648,000, reflecting market volatility[52] - The company reported a loss of HKD 22,174,000 from discontinued operations, highlighting the impact of previous business decisions[79] Cash Flow and Liquidity - As of March 31, 2024, the company had cash and cash equivalents of HKD 24,918,000, which is insufficient to cover the short-term bank and other borrowings of approximately HKD 247,166,000 due within twelve months[103] - The group’s cash and cash equivalents were approximately HKD 24,918,000 as of March 31, 2024, significantly lower than HKD 60,746,000 in the previous year[198] - The group is actively seeking potential buyers for certain commercial properties to improve liquidity[181] - The group is in discussions with lenders regarding the renewal of bank and other borrowings due within the next twelve months, which total approximately HKD 245,213,000[199] Dividends and Shareholder Returns - The company does not recommend a final dividend for the year ended March 31, 2024[12] - The company has not declared any dividends for the years ended March 31, 2024, and 2023[89] Operational Changes - The company has ceased its securities investment and financing business as of April 2023[29] - The group decided to terminate its securities investment and financing business to minimize associated business risks, recording a pre-tax segment loss of HKD 23,000 for the year, compared to a profit of HKD 41,770,000 in the previous year[139] - The group has terminated operations in the hotel and securities investment and financing businesses during the year[194] Future Outlook - The company expects to maintain sufficient working capital to meet its current needs and believes it can continue its business model[21] - The company plans to adopt various measures to enhance rental income levels and closely monitor market conditions[124] - The company has entered into a joint venture agreement to establish a company with a 34% stake, aimed at developing renewable energy businesses[132]
润中国际控股(00202) - 2024 - 年度业绩