Financial Performance - For the year ended 31 March 2024, the Group reported a consolidated loss attributable to shareholders of approximately HK$213,149,000, compared to a profit of approximately HK$63,572,000 in the previous year[3]. - Revenue from continuing operations increased to approximately HK$30,693,000, representing a growth of approximately 12.9% compared to HK$27,194,000 in the previous year[10]. - The Group's gross profit margin for the year was approximately 88.5%, slightly down from approximately 89.1% in the previous year[10]. - The basic and diluted loss per share for the year was HK$2.47, compared to restated earnings per share of HK$1.50 and HK$1.37 in the previous year[11]. - The consolidated loss from continuing operations for the year ended March 31, 2024, was approximately HK$218,804,000, compared to a profit of approximately HK$58,970,000 in 2023[60]. - Gross profit from continuing operations for the year ended March 31, 2024, was approximately HK$27,173,000, representing an increase of approximately 12.2% compared to approximately HK$24,225,000 in 2023[69]. - The taxation charge from continuing operations for the year was approximately HK$13,485,000, compared to a taxation credit of approximately HK$1,649,000 in 2023[75]. - The basic and diluted loss per share from continuing operations for the year was approximately HK$2.54, compared to a restated profit of approximately HK$1.39 per share in 2023[77]. Revenue and Income - Total rental income from continuing operations was approximately HK$28,751,000, an increase of approximately 17.8% from HK$24,408,000 in the previous year[26]. - The Group's property rental income and building management fee income from continuing operations amounted to approximately HK$27,423,000, reflecting a 26.3% increase compared to HK$21,706,000 in the previous year[27]. - Property rental income from continuing operations for the year was approximately HK$27,423,000, an increase of approximately 26.3% from approximately HK$21,706,000 in 2023[30]. - As of March 31, 2024, the Group's revenue from continuing operations increased by approximately 12.9% to approximately HK$30,693,000 compared to approximately HK$27,194,000 in 2023, primarily due to an increase in rental income[68]. Assets and Liabilities - As of March 31, 2024, the Group's total assets amounted to approximately HK$5,408,807,000, a decrease from approximately HK$5,624,267,000 in 2023[88]. - As of March 31, 2024, the Group's bank borrowings amounted to approximately HK$2,066,734,000, an increase from approximately HK$1,871,919,000 in 2023[49]. - The Group's total bank borrowings as of March 31, 2024, were approximately HK$2,066,734,000, compared to approximately HK$1,871,919,000 in 2023, resulting in a gearing ratio of approximately 0.7[89]. - The Group had capital commitments of approximately HK$4,418,000 as of March 31, 2024, down from approximately HK$19,635,000 in 2023[55]. - The Group's bank balances and cash as of March 31, 2024, were approximately HK$299,717,000, down from approximately HK$354,002,000 in 2023[88]. Dividends - The Group does not recommend the payment of a final dividend for the year ended 31 March 2024[5]. - The Group did not declare a final dividend for the year ended March 31, 2024, compared to no dividend declared in 2023[42]. Employee Information - The Group has 40 employees as of March 31, 2024, an increase from 38 employees in 2023, with total employee costs amounting to approximately HKD 40,218,000 for the year, compared to HKD 29,929,000 in 2023[192]. - The Group's employee benefits include medical and dental plans, and contributions to mandatory provident fund schemes for eligible employees[192]. Corporate Governance and Compliance - The Group has complied with relevant laws and regulations during the year ended March 31, 2024, with no material breaches reported[169]. - The Group is committed to maintaining compliance with relevant laws and regulations, reporting no significant violations as of March 31, 2024[180]. - The Group's corporate governance practices adhere to the Corporate Governance Code, ensuring accountability and professionalism in its operations[196]. Future Outlook and Strategy - The Group remains prudently optimistic about the prospects of the property and securities markets in Hong Kong, despite ongoing geopolitical tensions and high inflationary pressures[190]. - The Group will continue to focus on its core businesses, including property development and investment, while exploring new opportunities to provide stable returns to shareholders[189]. - The Group's future outlook remains focused on long-term value creation for shareholders and stakeholders amidst macroeconomic uncertainties[191]. - The Group plans to identify and seize appropriate investment opportunities to replenish its property portfolio during challenging market conditions[195]. Financing Activities - The Group financed its operations primarily through recurring cash flow, capital market proceeds, and bank financing[90]. - The net proceeds from the 2023 Placing amounted to approximately HK$24,750,000, which were fully utilized for repayment of the group's bank loan[121]. - The net proceeds from the 2024 Placing amounted to approximately HK$41,700,000, with approximately HK$35,000,000 used for bank loan repayment and approximately HK$6,700,000 for general working capital[123]. - A conditional revolving loan agreement was entered into for a principal amount of up to HK$80,000,000 for financing property development projects and general corporate use[149]. - The Revolving Loan Agreement constitutes a major transaction under Rule 14.06(3) of the Listing Rules and is subject to independent Shareholders' approval[150]. Environmental and Social Responsibility - The Group emphasizes its commitment to corporate social responsibility and environmental sustainability, aiming to minimize its carbon footprint and enhance resource efficiency[184]. - The Group acknowledges risks from climate change, including physical risks and their potential negative impacts on the environment and business operations[174]. - The Group acknowledges the risks posed by climate change, including extreme weather events and rising sea levels, which may impact its operations and supply chain[187].
高山企业(00616) - 2024 - 年度业绩