Financial Performance - Total revenue for the year ended March 31, 2024, was HKD 68,087,000, a decrease of 30% from HKD 97,174,000 in 2023[5] - The net loss for the year was HKD 17,790,000, compared to a loss of HKD 1,427,000 in 2023, representing a significant increase in losses[20] - Total revenue for the year was HKD 33,152,000, a decrease of 39.1% from HKD 54,437,000 in 2023[90] - The total loss before tax increased to HKD 19,762,000 in 2024 from a profit of HKD 9,487,000 in 2023[96] - The group reported a total loss of HKD 6,232,000 across all segments in 2024 compared to a profit of HKD 13,471,000 in 2023[96] - The group reported a loss of HKD 16,217 thousand for 2024, compared to a loss of HKD 2,211 thousand in 2023, indicating a significant increase in losses[128] - The group reported a loss of approximately HKD 17,800,000 for the year, an increase of about 11.7 times compared to a loss of HKD 1,400,000 in 2023, driven by increased impairment losses and reduced gross profit[176] Revenue Breakdown - Alcoholic beverage sales contributed HKD 21,921,000, down 45% from HKD 39,896,000 in the previous year[9] - Loan financing services generated HKD 46,166,000, a decline of 19% compared to HKD 57,278,000 in 2023[9] - The group experienced a revenue decrease of approximately HKD 18 million in the wine business and HKD 11.1 million in the loan financing business compared to last year, with no revenue generated from financial services[76] - Total revenue for the loan financing segment decreased from HKD 57,278,000 in 2023 to HKD 46,166,000 in 2024, representing a decline of approximately 19.4%[96] - Total revenue for alcoholic beverage sales dropped from HKD 39,896,000 in 2023 to HKD 21,921,000 in 2024, a decrease of about 45.0%[96] - The wine business generated revenue of approximately HKD 21,900,000, representing a decrease of about 45.1% compared to HKD 39,900,000 in 2023[155] Assets and Liabilities - Total assets less current liabilities amounted to HKD 115,344,000, down from HKD 155,538,000 in 2023[24] - The total assets of the group decreased from HKD 432,278,000 in 2023 to HKD 350,808,000 in 2024, a reduction of about 18.8%[107] - The total liabilities decreased from HKD 282,705,000 in 2023 to HKD 237,524,000 in 2024, a decline of approximately 16.0%[104] - The group has no outstanding liabilities as of March 31, 2024 (2023: none)[50] Equity and Financial Ratios - The total equity attributable to owners of the company was HKD (38,875,000), compared to HKD (12,418,000) in 2023, indicating a decline in equity[24] - The current ratio as of March 31, 2024, was approximately 1.3 times, down from 1.4 times in 2023[36] - The leverage ratio was approximately 88.8%, an increase from 80.8% in the previous year[36] Impairment and Financing Costs - The impairment of receivables was approximately HKD 29,800,000, an increase from HKD 19,900,000 in 2023[33] - The financing costs decreased from HKD 20,569,000 in 2023 to HKD 13,481,000 in 2024, a reduction of approximately 34.3%[96] - The impairment loss on loans and interest recognized amounted to HKD 29,775,000 in 2024[105] Operational Strategies and Challenges - The economic environment for 2024 is expected to be challenging with uncertainties due to geopolitical issues, and the group will review its business portfolio and tighten cost control measures[55] - The group aims to diversify its revenue sources by actively seeking investment opportunities in other areas[55] - The company is implementing multiple strategies to enhance cash flow, including managing the receivables portfolio[84] - Major risks include inventory obsolescence in the wine business and potential litigation risks in the financial services sector[78] Employee and Corporate Governance - The group employed 113 staff as of March 31, 2024, down from 120 in 2023, and offers competitive compensation packages[60] - The company has complied with the corporate governance code throughout the year[79] Other Financial Information - The group did not recommend the payment of a final dividend for the year (2023: none)[43] - The group has established a system to closely monitor the recoverability of its loan portfolio, including regular assessments of collateral value and communication with borrowers regarding their financial status[173] - The group has not implemented any foreign currency hedging policies but monitors foreign exchange risks and will consider hedging significant risks as necessary[178] - The audit committee has reviewed the audited consolidated financial statements for the year and confirmed compliance with applicable accounting standards and GEM listing rules[190] - There are no significant events related to the company's business or financial performance that have come to the attention of the directors after the reporting period[195]
麦迪森控股(08057) - 2024 - 年度业绩