Financial Performance - The group's revenue for the year was approximately HKD 356.4 million, a decrease of about 7.6% compared to HKD 385.6 million for the year ended March 31, 2022[1]. - The profit attributable to the company's owners for the year was approximately HKD 43.5 million, compared to a loss of HKD 58.1 million for the year ended March 31, 2022, primarily due to increased revenue from the group's digital asset trading business[1]. - Basic and diluted earnings per share for the year were approximately HKD 0.81, compared to a loss of HKD 1.08 per share for the year ended March 31, 2022[1]. - The group reported a gross profit of HKD 155.2 million for the year, significantly up from HKD 84.3 million in the previous year, indicating a strong recovery in operational performance[2]. - The operating profit for the year was HKD 57.1 million, a significant turnaround from an operating loss of HKD 53.3 million in the previous year[2]. - The group recorded a pre-tax loss of HKD 58.7 million, with a tax credit of HKD 271, resulting in a net loss attributable to shareholders of approximately HKD 43.5 million[86]. - The company recorded a net loss of HKD 58.4 million for the year, compared to a net loss of HKD 58.1 million in the previous year, indicating a slight improvement in financial performance[101]. - The company reported a net profit attributable to shareholders of approximately HKD 43.5 million, a significant turnaround from a net loss of HKD 58.1 million in the previous year, driven by increased revenue from proprietary trading in digital assets[113]. Assets and Liabilities - As of March 31, 2023, the equity attributable to the company's owners was approximately HKD 205.6 million, up from HKD 162.1 million as of March 31, 2022[1]. - The total assets of the group as of March 31, 2023, were approximately HKD 1,105.2 million, compared to HKD 997.3 million in the previous year[5]. - The group's total liabilities were approximately HKD 896.6 million, reflecting the financial structure and obligations of the company[80]. - The company's total liabilities include current and non-current liabilities, excluding certain tax liabilities and other undistributed liabilities[60]. - The company's debt-to-equity ratio as of March 31, 2023, is approximately 40.2%, a significant decrease from 61.6% as of March 31, 2022, primarily due to the repayment of related party loans totaling approximately HKD 14.2 million[97]. - As of March 31, 2023, overdue trade receivables were approximately HKD 7,615 thousand, with no amounts overdue by 90 days or more considered as default[47]. - The group’s total assets amounted to HKD 1,105.2 million, with non-current assets accounting for a significant portion[80]. - As of March 31, 2023, the group's total assets and total liabilities were approximately HKD 1,105.2 million and HKD 896.6 million, respectively, resulting in a debt ratio of approximately 81.1%, down from 83.3% a year earlier[143]. Revenue Segments - Revenue from the technology services segment was approximately HKD 34.4 million, an increase of about 71.1% from HKD 20.1 million in the previous year, driven by enhanced blockchain technology services[14]. - Revenue from the construction waste management segment was approximately HKD 9.5 million, a decrease of about HKD 139.3 million from approximately HKD 148.8 million in the same period last year, with a gross profit of about HKD 0.5 million, down approximately 98.8% from HKD 42.1 million[19]. - Revenue from digital asset trading and changes in fair value amounted to HKD 130.1 million, significantly up from HKD 4.9 million in the previous year[75]. - Revenue from the foundation and building construction segment was approximately HKD 179.3 million, a decrease of 13.6% from approximately HKD 207.5 million in the previous year, while gross profit increased by about 28.8% to approximately HKD 44.3 million[38]. - The group’s construction and building engineering services generated revenue of HKD 177.4 million, down from HKD 207.2 million in the previous year[75]. - The group’s loan business revenue was approximately HKD 0.5 million, a decrease of about 81.5% from HKD 2.7 million in the previous year[87]. - The company’s revenue from trust and custody services decreased to approximately HKD 4.4 million, a decline of about 49.4% compared to HKD 8.7 million in the same period last year[50]. Digital Assets - The market value of the group's digital assets was approximately HKD 649.5 million as of March 31, 2023, up from approximately HKD 560.1 million in 2022, with digital asset trading revenue and net fair value changes amounting to approximately HKD 130.1 million, an increase of about 2,525.5% from approximately HKD 5.0 million in the same period last year[25]. - The group held significant digital assets, including stablecoins valued at approximately HKD 349.1 million, accounting for 31.6% of total assets[26]. - Gross profit from digital asset-related business increased to approximately HKD 92.8 million, up about 1,618.5% from HKD 5.4 million year-on-year, with a gross profit margin of 69.0%, an increase of approximately 29.6 percentage points from 39.4%[50]. - The group anticipates significant growth potential in the digital asset sector under the regulatory environment, contributing substantial cash flow from its digital asset trading and trust services[160]. - The group is optimistic about the future development of the digital asset and Web3 industries, aiming to provide long-term returns to shareholders[161]. Operational Highlights - The group secured 4 new contracts with a total contract value of approximately HKD 187.3 million during the year[20]. - As of March 31, 2023, the group had 5 ongoing projects with a total contract value of approximately HKD 293.8 million[22]. - The group completed 5 projects during the year with a total contract value of approximately HKD 784.0 million[23]. - The group employed a total of 107 employees as of March 31, 2023, down from 141 employees a year earlier[161]. - Total employee costs for the year reached approximately HKD 107.5 million, compared to approximately HKD 132.5 million for the previous year[161]. Governance and Compliance - The group has complied with corporate governance codes and has established an audit committee to oversee financial reporting[181]. - The group has not made any significant investments or acquisitions during the reporting period[163]. - The group has not pledged any assets during the year, maintaining a strong financial position[116]. Economic Outlook - The global economic growth is projected to recover slowly, with the International Monetary Fund forecasting a growth rate of 2.8% in 2023 and 3.0% in 2024, while global inflation is expected to decrease from 8.7% in 2022 to 7.0% in 2023[128]. - The Hong Kong government is exploring the introduction of virtual asset trading platforms and ETFs, indicating a welcoming stance towards the virtual asset market[158].
欧科云链(01499) - 2023 - 年度业绩