Financial Performance - For the fiscal year ending March 31, 2024, the company reported revenue of HKD 783.9 million, an increase of 8.3% compared to HKD 723.6 million in the previous fiscal year[2]. - Gross profit for the same period was HKD 394.8 million, reflecting a 15.3% increase from HKD 342.4 million year-on-year[2]. - Core profit from continuing operations surged by 53.9% to HKD 62.5 million, up from HKD 40.6 million in the prior year[2]. - The company recorded a net profit of HKD 4.0 million, a 21.2% increase from HKD 3.3 million in the previous fiscal year[2]. - The company reported a revenue of HKD 553,973,000 for the year ending March 31, 2024, a decrease of 1.5% from HKD 562,830,000 in the previous year[71]. - Total revenue amounted to HKD 1,337,854,000, an increase from HKD 1,286,428,000 year-over-year, representing a growth of 4%[85]. - Revenue from customer contracts reached HKD 779,398,000 for continuing operations, compared to HKD 717,550,000 in the previous year, reflecting a growth of 8.6%[85]. - The adjusted pre-tax loss for the year was HKD 584,000, compared to a pre-tax loss of HKD 12,667,000 in the previous year, indicating an improvement[89]. - The company reported a loss attributable to equity holders of approximately HKD 15,400,000, an improvement from a loss of HKD 20,500,000 in the previous year[80]. Assets and Liabilities - The net asset value decreased significantly by 62.4% to HKD 1,385.5 million from HKD 3,688.4 million[2]. - Cash and cash equivalents dropped by 70.5% to HKD 155.0 million, down from HKD 525.9 million[2]. - The net current assets decreased to HKD 449,356,000 in 2024 from HKD 1,045,182,000 in 2023, representing a decline of approximately 57.0%[18]. - Total assets less current liabilities dropped to HKD 1,714,238,000 in 2024 from HKD 5,356,627,000 in 2023, a decrease of about 68.0%[18]. - Total non-current liabilities decreased to HKD 328,782,000 in 2024 from HKD 1,668,243,000 in 2023, reflecting a reduction of approximately 80.3%[18]. - The group’s investment in bonds and equity securities had a fair value of approximately HKD 33,100,000 as of March 31, 2024, down from approximately HKD 193,700,000 in 2023[151]. - As of March 31, 2024, the group's bank loans and notes payable amounted to approximately HKD 438.1 million, a decrease from HKD 3,086.8 million in 2023[156]. Dividends and Shareholder Returns - The company proposed a final cash dividend of HKD 3.0 per share, with a special dividend of HKD 14.7 per share[2]. - The company proposed a final cash dividend of HKD 3.0 cents per share, totaling HKD 33,753,000, and a special dividend of HKD 14.7 cents per share, totaling HKD 165,390,000[67]. - A special dividend was approved, involving the distribution of shares in two subsidiaries to eligible shareholders, based on their respective holdings[93]. Corporate Governance and Compliance - The company has established an audit committee composed of independent non-executive directors to oversee financial reporting and compliance[26]. - The company has adopted the principles of corporate governance as per the Stock Exchange Listing Rules, with some deviations noted[21]. - The company plans to continue reviewing and suggesting improvements regarding its corporate governance practices[22]. - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, with no significant impact from recent amendments on the classification of liabilities[39]. Operational Developments - The company plans to continue expanding its market presence and investing in new product development to drive future growth[4]. - The group has four reportable operating segments, including the production and sale of traditional Chinese medicine and health food products, primarily in mainland China and Hong Kong[55]. - The group has classified the management and sales of agricultural product trading market properties as discontinued operations following the completion of a physical distribution[56]. - The group has launched new products targeting respiratory health, including "Wild Cordyceps King," aimed at enhancing respiratory function for both adults and children[109]. - The flagship brand "Pei Fu Ren" has maintained its position as the top-selling cough syrup in Hong Kong for 14 consecutive years[111]. - The group has strengthened its online sales channels, expanding its e-commerce presence through its own platform and selected third-party platforms[111]. - The group plans to continue developing new products in both Hong Kong and mainland China markets to expand distribution networks for its brands[111]. Financial Management - The debt-to-asset ratio improved to 21.7%, down from 46.3% in the previous year, indicating a stronger balance sheet[2]. - The current ratio improved to approximately 2.2 from 1.6 in 2023, indicating better short-term financial health[175]. - The group maintains a cautious financial management policy, with a debt-to-equity ratio of approximately 21.7%, down from 46.3% in 2023[175]. - The group is actively monitoring market changes and adjusting its investment portfolio to ensure stable income generation[176]. Employee and Operational Costs - Employee benefits expenses totaled HKD 231,393,000, up from HKD 144,286,000, showing a significant increase of 60.5%[89]. - Research and development costs were HKD 1,786,000, slightly down from HKD 1,897,000 in the previous year[89]. Market Outlook - The company anticipates a moderate economic growth in Hong Kong, with GDP expected to grow by 2.7% year-on-year[107].
位元堂(00897) - 2024 - 年度业绩