Financial Performance - The total revenue for the fiscal year ending March 31, 2024, was HKD 337.3 million, a decrease of approximately 2% from HKD 344.9 million in the previous year[5]. - Revenue from foundation, building construction, and supporting services increased by approximately 50.3% to HKD 266.7 million, up from HKD 177.4 million in the previous year[22]. - The company reported a net loss before tax of HKD 45.1 million for the year, compared to a profit of HKD 144.7 million in the previous year[9]. - The digital asset-related business generated revenue of HKD 67.1 million, significantly up from HKD 30.3 million in the previous year[8]. - Revenue from trust and custody services for the year was approximately HKD 1.8 million, a decrease of about 59.1% compared to HKD 4.4 million in the same period last year[28]. - The revenue from continuing operations was approximately HKD 337.3 million, a decrease of about 2.2% from approximately HKD 344.9 million in the same period last year[50]. - The group recorded a net loss attributable to the owners of approximately HKD 40.3 million, compared to a profit of approximately HKD 43.5 million in the same period of 2023, primarily due to a decrease in revenue from the digital asset segment[56]. - The company reported a total comprehensive loss of HKD 41,011,000 for the year ending March 31, 2024, compared to a comprehensive income of HKD 41,972,000 in the previous year[152]. Assets and Liabilities - The company’s total assets amounted to HKD 1,333.3 million as of March 31, 2024[9]. - The company’s total liabilities were reported at HKD 1,165.7 million[9]. - The total assets and total liabilities of the group as of March 31, 2024, were approximately HKD 1,333.3 million and HKD 1,165.7 million, respectively, resulting in a debt ratio of approximately 87.4%[76]. - The group’s asset-liability ratio as of March 31, 2024, was approximately 25.3%, down from approximately 40.2% as of March 31, 2023[78]. - The company’s cash and bank balances decreased to HKD 61.9 million from HKD 90.6 million[154]. - The group held significant digital assets as of March 31, 2024, with Bitcoin valued at approximately HKD 526.0 million, accounting for 39.5% of total assets[45]. Operational Changes - The company completed the sale of its construction waste treatment services business on December 22, 2023, to focus more resources on core business segments[12]. - The company plans to continue focusing on expanding its core business segments following the divestiture of the construction waste treatment services[12]. - The group has five ongoing projects with a total contract value of approximately HKD 661.8 million as of March 31, 2024[25]. - The group won six new contracts during the year with a total contract value of approximately HKD 642.6 million[43]. - The company has classified its construction waste management services as discontinued operations following the sale of a subsidiary[191]. Expenses and Profitability - Administrative and other operating expenses from continuing operations were approximately HKD 100.0 million, an increase of about 23.8% from approximately HKD 80.8 million for the year ended March 31, 2023[31]. - The gross profit from the foundation, building construction, and supporting services segment was approximately HKD 28.6 million, a decrease of about 34.3% from approximately HKD 43.5 million for the year ended March 31, 2023[42]. - The group recorded a gross profit of approximately HKD 66.2 million from continuing operations, a decrease of about 57.0% from approximately HKD 154.0 million in the same period last year[51]. - The group’s digital asset-related business gross profit was approximately HKD 36.8 million, a decrease of about 60.3% from approximately HKD 92.8 million in the same period last year[47]. - The total employee cost from continuing operations for the year reached approximately HKD 86.5 million, down from HKD 100.2 million the previous year[96]. Market and Strategic Outlook - The group is actively exploring market opportunities in on-chain data and digital asset compliance, having launched over 40 blockchain explorers and processed over 2,000 TB of data[93]. - The group anticipates a gradual economic recovery in Hong Kong, which has achieved moderate growth and maintained a low unemployment rate, providing a favorable external environment for stable development[112]. - The group faces significant price volatility risks associated with digital assets, particularly with Ethereum and Bitcoin, which generally exhibit higher volatility compared to stablecoins[88]. - The company plans to enhance communication and collaboration with shareholders, customers, and partners to navigate challenges and seize opportunities in the evolving digital economy[144]. - The company is adapting its strategies and business layout in response to the growing importance of blockchain technology in the digital economy[144]. Compliance and Regulatory - The company has implemented policies and procedures to mitigate anti-money laundering risks, aligning with industry best practices[134]. - The company believes that a balanced regulatory framework will protect investors and promote responsible industry development[135]. - The group emphasizes compliance with regulatory requirements to contribute to the healthy development of the digital asset industry[93]. Shareholder and Dividend Information - The company did not declare any final dividend for the year 2023, maintaining a consistent policy[139]. - The company did not recommend the declaration of a final dividend for the year[157]. - Non-controlling interests reported a loss of HKD 596,000 from continuing operations, down from a loss of HKD 1,171,000 in the previous year[152].
欧科云链(01499) - 2024 - 年度业绩