Financial Performance - The company's revenue for the year ended March 31, 2024, was HKD 322,246,000, representing an increase of 17.8% compared to HKD 273,619,000 in the previous year[17]. - The company reported a loss before tax of HKD 17,800,000, compared to a loss of HKD 16,000,000 in the previous year[15]. - The company reported a loss before tax of HKD 13,713,000 for the year ending March 31, 2024, an improvement from a loss of HKD 17,800,000 in the previous year, representing a reduction of approximately 23.5%[18]. - Total comprehensive loss for the year was HKD 13,909,000, down from HKD 18,228,000 in the prior year, indicating a decrease of about 23.5%[18]. - The net loss attributable to the group's owners narrowed to approximately HKD 13,402,000, down from a loss of about HKD 17,671,000 in the previous year[114]. - Other income and gains for the year were approximately HKD 3,728,000, a decrease of about HKD 694,000 from HKD 4,422,000 the previous year[113]. Employee Costs - Employee costs increased to HKD 229,782,000, up from HKD 198,416,000, reflecting a rise of 15.8%[17]. - Employee benefits expenses increased to HKD 220,312,000 in 2024 from HKD 187,831,000 in 2023, representing a growth of 17.3%[65]. - Total employee costs amounted to HKD 229,782,000 in 2024, up from HKD 198,416,000 in 2023, reflecting a rise of 15.8%[65]. Assets and Liabilities - The total assets decreased to HKD 175,797,000 from HKD 193,427,000, indicating a decline of 9.1%[15]. - The company’s net assets decreased to HKD 91,753,000 from HKD 105,662,000, reflecting a decline of approximately 13.2%[20]. - The total liabilities increased slightly to HKD 70,135,000 from HKD 70,135,000, remaining stable year-over-year[15]. - The company’s total assets amounted to HKD 161,737,000, with total liabilities at HKD 69,984,000, resulting in a debt-to-asset ratio of approximately 43.2%[30]. - The company’s non-current liabilities decreased from HKD 3,967,000 to HKD 1,594,000, indicating a reduction of approximately 59.8%[20]. - The weighted average expected loss rate for trade receivables over 1 year was 100% in 2024, indicating a significant increase in credit risk[75]. Revenue Sources - Revenue from cleaning and related services reached HKD 322,246,000, an increase of 17.8% compared to HKD 273,619,000 in the previous year[34]. - The company has not reported any revenue from the Chinese market for the current year, compared to HKD 10,153,000 in the previous year[32]. - The company recorded a profit of approximately HKD 56,000 from cleaning and related services, while the advertising media business incurred a loss of about HKD 1,787,000, and the waste management business reported a loss of approximately HKD 1,051,000[114]. Capital Expenditure - The company recorded a capital expenditure of HKD 376,000, which is a new investment in its operations[15]. - Capital expenditure for the year was HKD 2,016,000, which includes the acquisition of property, plant, and equipment[31]. Cash Flow and Financing - Cash and cash equivalents decreased to HKD 63,271,000 in 2024 from HKD 70,125,000 in 2023, a decline of 9.5%[76]. - The group had bank financing of HKD 40,000,000 as of the reporting date, unchanged from 2023[77]. - The group’s cash and bank balances totaled HKD 67,372,000 in 2024, down from HKD 72,204,000 in 2023, a decrease of 6.1%[76]. - The net proceeds from the share placement have been fully utilized for general working capital[145]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance and compliance with listing rules[155]. - The company has no undisclosed significant contingent liabilities or unresolved legal proceedings that could materially affect its financial position[149]. Market Outlook and Strategy - The business environment is expected to be favorable due to demand growth, global supportive policies, and technological advancements[120]. - The company plans to focus more on bidding for government contracts to expand market share and enhance pest control services for existing and potential clients[119]. - Significant growth in public and private housing construction in Hong Kong is anticipated, providing considerable development prospects for the cleaning division[143]. - The company is exploring potential investments or changes to its business portfolio to enhance financial performance and minimize risks[127]. Shareholder Information - The group did not recommend any dividend payment for the year ended March 31, 2024, consistent with 2023[81]. - No dividends are recommended for the year ending March 31, 2024, consistent with the previous year[123]. - The company has successfully placed 126,200,000 shares at a price of HKD 0.063 per share, representing approximately 6.99% of the existing issued share capital prior to completion[121]. - The company sold 66,666,666 shares for a total consideration of approximately HKD 2,225,000 during the reporting period[154].
新华通讯频媒(00309) - 2024 - 年度业绩