Financial Performance - The group's revenue for the year ended March 31, 2024, was approximately HKD 252.4 million, an increase of about 23.4% compared to approximately HKD 204.6 million for the same period in 2023[4] - The gross profit for the year ended March 31, 2024, was approximately HKD 61.6 million, representing a 36.0% increase from approximately HKD 45.3 million in 2023[4] - The profit for the year ended March 31, 2024, was approximately HKD 14.8 million, a significant increase of approximately 279.5% compared to approximately HKD 3.9 million in 2023[4] - Basic and diluted earnings per share for the year ended March 31, 2024, were approximately HKD 3.71, compared to HKD 0.99 in 2023[4] - The company's profit before tax for the year ended March 31, 2024, was HKD 14,842,000, compared to HKD 3,940,000 in the previous year, reflecting a significant increase[30] Dividends - The board of directors did not recommend the payment of a final dividend for the year ended March 31, 2024[4] - The company declared a special dividend of HKD 0.15 per ordinary share, totaling HKD 60,000,000 for the year ended March 31, 2024[31] - The board does not recommend a final dividend for the year ending March 31, 2024, similar to the previous year[67] Assets and Liabilities - Non-current assets increased to HKD 19.2 million in 2024 from HKD 8.1 million in 2023[7] - Current assets decreased to HKD 119.5 million in 2024 from HKD 170.9 million in 2023[7] - The net current asset value was HKD 106.8 million in 2024, down from HKD 163.3 million in 2023[9] - Total equity decreased to HKD 124.5 million in 2024 from HKD 169.7 million in 2023[9] - Current assets decreased to approximately HKD 106.8 million from HKD 163.3 million, resulting in a current ratio decline from about 22.4 times to approximately 9.4 times[53] - The equity-to-debt ratio is zero as the company has no outstanding debts[55] - As of March 31, 2024, the company had no bank or other borrowings, consistent with the previous year[54] Revenue Sources - The group primarily engages in wholesale and retail sales of prepaid products, including SIM cards and value-added vouchers in Hong Kong[11] - Revenue from prepaid products for the year ended March 31, 2024, was HKD 252,383,000, an increase of 23.3% from HKD 204,568,000 in the previous year[26] - Major customers contributed significantly to revenue, with Customer A generating HKD 24,247,000 in 2024, while Customer B contributed HKD 20,583,000 in 2023[23] Operational Costs - The interest expense on lease liabilities increased to HKD 395,000 in 2024 from HKD 250,000 in 2023, indicating rising financing costs[28] - The total employee benefits expense, including directors' remuneration, rose to HKD 24,665,000 in 2024 from HKD 21,813,000 in 2023, reflecting increased operational costs[29] - Selling and distribution expenses increased by approximately 4.0% to about HKD 23.4 million, driven by higher employee costs and advertising expenses[46] - The company reported a decrease in miscellaneous income from HKD 105,000 in 2023 to HKD 12,000 in 2024, indicating a decline in non-operational revenue sources[26] Inventory and Receivables - Accounts receivable increased to approximately HKD 1,966,000, up from HKD 1,456,000, with a notable rise in receivables aged 0 to 21 days from HKD 483,000 to HKD 1,250,000[34][36] - Inventory decreased to approximately HKD 45.8 million from HKD 59.8 million, a reduction of about 14.0 million, attributed to increased sales during the year[51] Business Development - The company launched 16 new prepaid products for overseas mobile data services during the year, expanding its product offerings significantly[39] - The company plans to increase the number of retailers in its sales network and enhance advertising and marketing activities to capture growth opportunities post-COVID-19[40] - The company plans to explore new business opportunities to enhance shareholder value in the future[65] Governance and Compliance - The company has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, indicating a stable accounting policy environment[17] - The company expects no significant impact on the consolidated financial statements from the application of all new and revised Hong Kong Financial Reporting Standards in the foreseeable future[18] - The company has established an Environmental, Social, and Governance (ESG) committee to oversee related policies and practices[70] Other Information - The issued share capital remains at HKD 4,000,000 with 400,000,000 shares at a par value of HKD 0.01 each[56] - The total employee count increased to 47 from 45, with total compensation rising to approximately HKD 24.4 million from HKD 21.8 million in the previous year[59] - The company acquired a property in Hong Kong for office use at a cost of HKD 9,000,000 during the year[61] - There are no significant contingent liabilities as of March 31, 2024, consistent with the previous year[66] - The company has no capital commitments as of March 31, 2024, compared to approximately HKD 197,000 in the previous year[64]
恒月控股(01723) - 2024 - 年度业绩