Financial Performance - For the fiscal year ending March 31, 2024, the revenue was approximately HKD 25.4 million, a decrease of about 15.6% compared to HKD 30.0 million for the fiscal year ending March 31, 2023[6]. - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 14.0 million, down approximately 17.7% from HKD 17.1 million in the previous fiscal year[6]. - The gross profit margin decreased from approximately 56.8% for the fiscal year ending March 31, 2023, to approximately 55.3% for the fiscal year ending March 31, 2024[6]. - The loss attributable to owners of the company for the fiscal year ending March 31, 2024, was approximately HKD 24.6 million, an increase of about 10.7% compared to the loss of HKD 22.2 million in the previous fiscal year[6]. - The loss per share attributable to owners for the fiscal year ending March 31, 2024, was approximately HKD 0.30, compared to HKD 0.85 for the fiscal year ending March 31, 2023[6]. - The total comprehensive loss for the fiscal year ending March 31, 2024, was approximately HKD 19.4 million, compared to HKD 24.8 million for the previous fiscal year[8]. - The total pre-tax loss for the year was HKD 19,393,000, compared to a pre-tax loss of HKD 24,975,000 in 2023, indicating an improvement of 22.5%[26]. - The company reported a loss from operations in the restaurant segment of HKD 5,817,000, an improvement from a loss of HKD 10,478,000 in 2023[26]. - The processing food segment recorded a loss of HKD 1,521,000, compared to a loss of HKD 3,697,000 in the previous year, showing a 59.0% improvement[26]. Revenue Breakdown - For the fiscal year ending March 31, 2024, total revenue from external customers was approximately HKD 25,365,000, a decrease of 15.5% from HKD 30,040,000 in 2023[29]. - The restaurant operations segment generated external revenue of HKD 19,373,000, down from HKD 24,428,000, reflecting a decline of 20.7%[26]. - The processing food segment reported external revenue of HKD 5,992,000, an increase of 6.8% from HKD 5,612,000 in the previous year[29]. Expenses and Costs - The company reported a decrease in employee benefit expenses from HKD 13.1 million in the previous fiscal year to HKD 11.7 million for the fiscal year ending March 31, 2024[7]. - The company reported a decrease in administrative and other operating expenses from HKD 14.9 million in the previous fiscal year to HKD 8.9 million for the fiscal year ending March 31, 2024[7]. - The company incurred a total depreciation expense of HKD 9,257,000 for the year, slightly down from HKD 9,498,000 in 2023[27]. - The financing costs for the year amounted to HKD 1,098,000, a decrease from HKD 1,161,000 in the previous year[32]. - The cost of goods sold decreased by approximately HKD 1.7 million to about HKD 11.3 million, with the cost of goods sold as a percentage of revenue increasing by about 1.5% to 44.7%[72]. Assets and Liabilities - Total assets increased from HKD 12,354,000 in 2023 to HKD 9,806,000 in 2024, reflecting a decrease of approximately 20.5%[10]. - Non-current assets rose from HKD 8,237,000 in 2023 to HKD 11,553,000 in 2024, an increase of about 40.5%[10]. - Current liabilities increased from HKD 11,979,000 in 2023 to HKD 20,242,000 in 2024, representing a significant rise of approximately 69.5%[10]. - The company's equity attributable to owners increased from HKD 3,596,000 in 2023 to HKD 7,882,000 in 2024, marking a growth of about 119.9%[11]. - The total equity (deficit) improved from a deficit of HKD 2,291,000 in 2023 to a positive equity of HKD 7,752,000 in 2024[11]. - Cash and cash equivalents decreased from HKD 2,729,000 in 2023 to HKD 9,806,000 in 2024, indicating a decline of approximately 66.1%[10]. - The net current liabilities improved from HKD (10,436,000) in 2023 to HKD 375,000 in 2024, indicating a significant turnaround[10]. Impairment and Losses - The company recognized a loss on impairment of property, plant, and equipment amounting to HKD 2.3 million for the fiscal year ending March 31, 2024[7]. - The group recorded an impairment loss of approximately HKD 2.2 million on property, plant, and equipment, and an impairment loss of about HKD 0.8 million on right-of-use assets[80]. - Impairment losses recognized for property, plant, and equipment related to the food processing business amounted to approximately HKD 599,000 for the year ended March 31, 2024, compared to HKD 643,000 in 2023[40]. - Impairment losses for restaurant operations were approximately HKD 1,652,000 for the year ended March 31, 2024, compared to HKD 1,435,000 in 2023[40]. Share Capital and Dividends - The total issued and paid-up share capital increased from HKD 156,000 in 2023 to HKD 1,120,000 in 2024 due to new share placements[53]. - The company raised approximately HKD 18,915,000 from a rights issue in 2023, net of direct costs[54]. - The company did not declare any dividends for the years ended March 31, 2024, and 2023[34]. - The company did not recommend the payment of any final dividend for the fiscal year ending March 31, 2024[6]. Strategic Decisions and Future Outlook - The company has not provided any guidance for future performance or new product developments in the conference call[1]. - The company is currently assessing the impact of market conditions on its operations and may consider strategic adjustments[38]. - The management decided not to exercise the option to lease a Korean restaurant due to high rental costs, resulting in the termination of operations for "Little Flame Korean Coffee Restaurant" in the third quarter of 2023[67]. - The company faced significant challenges due to the COVID-19 pandemic, leading to the closure or termination of several businesses to minimize losses[66]. Compliance and Reporting - The consolidated financial statements for the fiscal year ending March 31, 2024, have been reviewed by the audit committee and the auditors, confirming that they are prepared in accordance with applicable accounting standards[104]. - The annual report for 2024 will be published around the end of July 2024 and will be available on the Hong Kong Stock Exchange and the company's website[105].
汉诺佳池(08428) - 2024 - 年度业绩