Financial Performance - For the fiscal year ending March 31, 2024, the group recorded revenue of approximately HKD 69.0 million, an increase of about HKD 1.3 million or 1.9% compared to HKD 67.7 million for the fiscal year ending March 31, 2023[6]. - The gross profit margin improved from 4.8% for the fiscal year ending March 31, 2023, to 7.9% for the fiscal year ending March 31, 2024, due to higher sales to more profitable construction clients and reduced wages for diesel tank truck drivers[6]. - The loss attributable to owners of the company decreased to approximately HKD 10.7 million for the fiscal year ending March 31, 2024, down from a loss of approximately HKD 12.1 million for the fiscal year ending March 31, 2023, representing a reduction of about HKD 1.4 million[6]. - The company reported a basic loss per share of HKD 26.66 for the fiscal year ending March 31, 2024, compared to HKD 30.17 for the fiscal year ending March 31, 2023[7]. - The group reported a pre-tax loss of HKD 10,662,000 for 2024, compared to a loss of HKD 12,066,000 in 2023, indicating an improvement of about 11.6%[31]. - The net loss decreased from approximately HKD 12.1 million for the year ended March 31, 2023, to approximately HKD 10.7 million for the year ended March 31, 2024[61]. Revenue Breakdown - Revenue for diesel sales in 2024 was HKD 67,619,000, an increase from HKD 65,990,000 in 2023, representing a growth of approximately 2.5%[23]. - Revenue from automotive urea sales decreased to HKD 1,131,000 in 2024 from HKD 1,639,000 in 2023, a decline of about 30.9%[23]. - Total revenue recognized over time from supporting transportation services increased significantly to HKD 282,000 in 2024 from HKD 93,000 in 2023, marking a growth of approximately 203.2%[23]. - Diesel sales contributed approximately HKD 67.6 million, accounting for about 98.0% of total revenue for the year ended March 31, 2024, compared to approximately HKD 66.0 million or 97.5% for the previous year[51]. - Diesel sales volume increased by approximately 30.0% from 9.0 million liters for the year ended March 31, 2023, to 11.7 million liters for the year ended March 31, 2024[52]. Assets and Liabilities - Total assets as of March 31, 2024, amounted to HKD 40.9 million, a decrease from HKD 48.3 million as of March 31, 2023[8]. - Current liabilities increased to HKD 20.9 million as of March 31, 2024, compared to HKD 18.3 million as of March 31, 2023[8]. - The net asset value decreased to HKD 29.3 million as of March 31, 2024, down from HKD 39.9 million as of March 31, 2023[8]. - Trade receivables decreased to HKD 37.9 million as of March 31, 2024, from HKD 45.9 million as of March 31, 2023[8]. - Trade receivables from third parties amounted to HKD 56,709,000 in 2024, slightly up from HKD 56,511,000 in 2023[35]. - The provision for trade receivables increased to HKD 18,783,000 in 2024 from HKD 10,610,000 in 2023, reflecting a rise of approximately 76.7%[35]. Cost and Expenses - The group’s sales cost for the year ended March 31, 2024, was approximately HKD 63.6 million, a decrease of 1.2% from HKD 64.4 million for the year ended March 31, 2023[55]. - The average unit procurement cost of diesel decreased by 22.6% from approximately HKD 6.47 per liter for the year ended March 31, 2023, to approximately HKD 5.01 per liter for the year ended March 31, 2024[55]. - Administrative and other operating expenses decreased from approximately HKD 9.0 million for the year ended March 31, 2023, to approximately HKD 7.6 million for the year ended March 31, 2024[59]. - The total employee cost for the year ending March 31, 2024, was approximately HKD 4.5 million, a decrease from HKD 6.8 million for the previous year[82]. - The company employed a total of 15 employees as of March 31, 2024, down from 18 employees a year earlier[82]. Dividends and Shareholder Information - The board of directors did not recommend the payment of any dividends for the fiscal year ending March 31, 2024[6]. - The group did not declare or pay any dividends for the years ended March 31, 2024, and 2023[34]. - The major shareholder, Mr. Luo Mingyi, holds 25,111,000 shares, representing 62.78% of the issued share capital[90]. Corporate Governance and Compliance - The company has adhered to the corporate governance code as stipulated in the GEM Listing Rules throughout the fiscal year ending March 31, 2024[83]. - The board emphasizes the importance of good corporate governance and believes the company has complied with the corporate governance code during the reporting period[97]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the required standards[91]. - The company encourages shareholder participation through annual general meetings and other gatherings[98]. Future Outlook and Strategies - The group plans to closely monitor diesel market demand and manage cash flow to ensure operational stability during challenging times[50]. - The company will strengthen cost control and allocate more resources to enhance service capabilities and expand network layout[101]. - The company is actively seeking potential business developments to expand revenue sources and increase shareholder value[101]. Miscellaneous - The group received financial assistance from the Hong Kong government under the special subsidy scheme aimed at phasing out Euro IV diesel commercial vehicles[25]. - The company has implemented various environmental protection measures to minimize its operational impact on the environment and natural resources[83]. - There have been no significant events occurring after the fiscal year-end (March 31, 2024) up to the announcement date[93]. - The audit committee has reviewed the audited performance for the year ending March 31, 2024, and provided opinions and recommendations[96]. - The company is committed to maintaining open and effective investor communication policies[100]. - The company has not reported any significant changes to the plans regarding the use of net proceeds as outlined in the prospectus[80]. - The company’s business strategies and the application of net proceeds are based on the best estimates and assumptions regarding future market conditions at the time of the prospectus preparation[80].
申港控股(08631) - 2024 - 年度业绩