Financial Performance - Revenue for the year ended March 31, 2024, increased to HKD 235,586,000, up 9.0% from HKD 216,127,000 in the previous year[4] - Adjusted net profit for the year was HKD 15,571,000, a decrease of 37.4% compared to HKD 24,847,000 in the prior year[5] - Gross profit rose to HKD 184,212,000, representing a 10.7% increase from HKD 166,310,000 year-on-year[4] - The company reported a net profit attributable to shareholders of HKD 571,000, a significant decline from HKD 41,036,000 in the previous year[4] - Basic and diluted earnings per share from continuing operations were HKD 0.02, down from HKD 1.33 in the previous year[11] - The segment performance for health and beauty supplements showed a profit of HKD 52,140, down from HKD 69,555 in the previous year, indicating a decline of about 25%[31] - The pre-tax profit for continuing operations was HKD 4,574, a decrease from HKD 43,766 in the previous year, indicating a decline of about 89%[31] - The profit attributable to the company's owners was approximately HKD 600,000, a significant decrease from HKD 41 million in the previous year[58] - Adjusted net profit for the year was approximately HKD 15.6 million, down from HKD 24.8 million in the previous year[58] Revenue Breakdown - Revenue from health and beauty supplements and products was HKD 230,580,000, while property investment revenue was HKD 5,006,000 for the year ended March 31, 2024[24] - The company confirmed revenue upon transfer of control of goods to customers, typically at the point of delivery, with a return policy affecting variable consideration[26] - The property investment revenue is recognized over time as rental income is accrued from operating leases[27] - The company's revenue from health and beauty supplements increased by approximately 6.8% from about HKD 215.9 million in the previous year to approximately HKD 230.6 million in the current reporting period[66] - Revenue from property investment surged 24 times from approximately HKD 200,000 to about HKD 5 million, primarily due to full-year rental income from a newly acquired property[67] Assets and Liabilities - Total assets as of March 31, 2024, were HKD 258,379,000, up from HKD 242,366,000 in the previous year[13] - Non-current assets increased to HKD 258,379,000, primarily driven by the rise in investment properties[13] - The company’s equity attributable to shareholders rose to HKD 172,887,000 from HKD 146,007,000 in the previous year[14] - Total assets for the reporting segments increased to HKD 318,915 from HKD 293,946, reflecting a growth of approximately 8.5%[33] - The total liabilities for the reporting segments decreased to HKD 92,729 from HKD 105,215, a reduction of about 12%[33] - Accounts receivable decreased from HKD 41.4 million to HKD 29.1 million, reflecting a reduction of approximately 29.7%[49] - The total amount of accounts payable decreased from HKD 24.6 million to HKD 21.1 million, a decline of approximately 14.2%[56] Cash Flow and Financing - The company’s cash and cash equivalents decreased to HKD 12,700,000 from HKD 13,108,000 year-on-year[13] - The group’s cash and bank balances as of March 31, 2024, were approximately HKD 12,700,000, slightly down from HKD 13,100,000 in 2023, with a current ratio of about 0.5 times[81] - The group held unutilized general bank financing of approximately HKD 40,000,000 as of March 31, 2024, up from HKD 20,000,000 in 2023[81] - The company incurred financing costs of HKD 7,777, an increase from HKD 4,968, representing a rise of about 56%[39] - Financing costs rose to approximately HKD 7.8 million from HKD 5 million, attributed to new bank loans and interest payable to a shareholder[75] - As of March 31, 2024, the group held secured bank borrowings of approximately HKD 111 million, an increase from HKD 61.7 million in 2023[96] Operational Changes - The company ceased operations of its e-commerce promotion business through Advance Rider Limited as of August 30, 2022, focusing on health and beauty supplements and property investment[29] - The company plans to expand its sales channels, having increased the number of designated counters from 55 to 61 in Hong Kong and Macau[62] - The company will continue to enhance its marketing strategy, including social media promotions and television advertisements, to improve brand image and awareness[62] - The group plans to expand its business through cross-border e-commerce platforms, having officially opened a flagship store on Tmall in June 2024[86] - A new customer relationship management system and a mobile application for loyal customers were launched in June 2024 to enhance digital service experiences[87] - The R&D center in Hong Kong Science Park is focused on improving product quality control and developing new products to meet changing customer demands[89] Market and Economic Conditions - The number of visitors to Hong Kong surged by 715% to approximately 40.8 million during the reporting period, compared to 5 million in the previous year[59] - The overall retail sales in Hong Kong grew by 9.6% during the reporting period, indicating a gradual recovery in the retail sector[59] - Economic downturns may significantly affect consumer preferences and spending, prompting the group to implement cost control measures and diversify its product offerings[100] Governance and Compliance - The company has adopted corporate governance practices in line with the applicable codes and has complied with all relevant regulations during the reporting period[105] - The audit committee has reviewed the consolidated financial statements and confirmed that they were prepared in accordance with applicable accounting standards[107] Dividends - The company did not declare or recommend any dividends for the year ending March 31, 2024[44] - The board did not recommend a final dividend for the reporting period, consistent with the previous year[102] Other Information - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards, with no significant impact from the new standards implemented during the year[18] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[90] - There have been no significant events occurring after the reporting period up to the date of this announcement[97] - The annual report and notice of the 2024 annual general meeting will be published in accordance with listing rules at the appropriate time[110]
顺腾国际控股(00932) - 2024 - 年度业绩