Financial Performance - The group reported a net realized and unrealized loss of HKD 3,000,000 for the year ending March 31, 2024, compared to a loss of HKD 5,000,000 in 2023[1]. - The group reported a loss attributable to shareholders of HKD 14,783,000 for the year, compared to a profit of HKD 82,327,000 in the previous year[15]. - Total comprehensive income for the year was a loss of HKD 26,446,000, down from a total of HKD 61,132,000 in the previous year[17]. - The group's revenue for the year ended March 31, 2024, was HKD 711,337,000, a decrease of 43.7% compared to HKD 1,262,978,000 for the previous year[27]. - Gross profit for the same period was HKD 160,278,000, down 46.4% from HKD 299,767,000 year-on-year[27]. - The group reported a net loss of HKD 14,783,000 for the year, compared to a profit of HKD 82,288,000 in the previous year[27]. - Revenue from toy sales was HKD 407,943,000, a significant decline from HKD 973,458,000 in the prior year, representing a drop of 58.1%[25]. - Revenue from the computer products division fell by 18% from HKD 127 million to HKD 104 million, with operating losses increasing from HKD 2.7 million to HKD 6.5 million[57]. - Comprehensive income for the current year was HKD (17.36) million, down from HKD 117.88 million in the previous year[56]. Income and Expenses - Dividend and interest income from trading securities amounted to HKD 2,700,000, an increase from HKD 2,000,000 in the previous year[1]. - Administrative expenses decreased to HKD 173,984,000 from HKD 196,351,000, reflecting a reduction of 11.3%[27]. - The group recognized other income of HKD 15,213,000, an increase from HKD 10,317,000 in the previous year, marking a growth of 47.5%[27]. - The group’s financing costs decreased to HKD 1,115,000 from HKD 3,078,000, a reduction of 63.7%[27]. - Interest income increased significantly from HKD 636,000 to HKD 2.07 million, marking a rise of over 225%[48]. - The company reported a comprehensive interest expense reduction from HKD 3.08 million to HKD 1.12 million, a decrease of approximately 63.7%[48]. - Total employee costs for the year were HKD 281.54 million, a decrease from HKD 409.40 million in the previous year[107]. Assets and Liabilities - The total liabilities of the group as of March 31, 2024, were HKD 592,986,000, down from HKD 655,702,000 the previous year[31]. - Total assets decreased from HKD 903.5 million to HKD 812.45 million, a reduction of approximately 10%[56]. - Total liabilities decreased from HKD 247.8 million to HKD 219.46 million, reflecting a decline of about 11.5%[56]. - The group maintained a strong financial position with no outstanding bank loans as of March 31, 2024, compared to a revolving loan of HKD 10 million in the previous year[81]. - Total assets as of March 31, 2024, amounted to HKD 812 million, down from HKD 903 million in 2023, with current liabilities at HKD 181 million and non-current liabilities at HKD 39 million[80]. - The group’s total liabilities were HKD 132.018 million for the toy segment, HKD 12.511 million for computer products, and HKD 21.569 million for watches and electronics[64]. Dividends - The company plans to maintain a dividend of HKD 0.03 per share, consistent with the previous year, totaling HKD 36.27 million[50]. - The proposed final dividend amounts to HKD 18.1 million, subject to shareholder approval at the annual general meeting[85]. - The company plans to propose a final dividend of HKD 0.03 per share at the annual general meeting, maintaining the total annual dividend at HKD 0.06 per share, consistent with the previous year[105]. Market Challenges and Strategies - The toy division is expected to face challenges due to delays and cancellations of related movie releases, leading to anticipated sales declines[4]. - The computer products division is working to expand its customer base as inventory issues with a major client have gradually improved[4]. - The group aims to maintain competitiveness despite facing a challenging market environment in the new fiscal year[104]. Foreign Exchange and Risk Management - The group is closely monitoring foreign exchange risks associated with transactions in currencies such as RMB, USD, and GBP[103]. Employment - The group employs approximately 126 people in Hong Kong, 2,020 in mainland China, and 31 in Europe[107]. Other Information - The group applied the practical expedient under HKFRS 15, exempting the disclosure of expected future revenue from contracts with customers that are expected to last one year or less[26]. - The group has no significant contingent liabilities as of March 31, 2024[82]. - The board has established a remuneration committee consisting of two independent non-executive directors and one executive director[110]. - The company has no plans to purchase, sell, or redeem any of its listed securities during the fiscal year ending March 31, 2024[108].
HERALD HOLD(00114) - 2024 - 年度业绩