Revenue Performance - Revenue from external customers in Hong Kong increased to HKD 208,030,000 in 2024 from HKD 174,933,000 in 2023, representing an increase of approximately 19%[1] - Revenue for the year ended March 31, 2024, was HKD 208,085,000, an increase of 18.9% compared to HKD 174,933,000 in 2023[101] - Total revenue for the bar and restaurant segment was HKD 207,319,000, while property investment revenue was HKD 766,000 for the year ended March 31, 2024[146] - For the year ended March 31, 2024, the operating revenue from bars and restaurants increased to HKD 207,319,000, up from HKD 174,169,000 in 2023, representing a growth of 19.0%[152] - The gross profit from restaurant and bar operations for the year was HKD 150.9 million, an increase of 17.0% compared to HKD 129.0 million in the previous year, with a gross margin of 72.8%[182] Government Subsidies - The group received government subsidies totaling HKD 311,000 in 2024, a significant decrease from HKD 9,153,000 in 2023[2] - The company received government grants totaling HKD 323,000 in 2024, a decrease from HKD 9,153,000 in 2023[166] - Other income for the year was HKD 8.0 million, a decrease of 52.4% from HKD 16.8 million in the previous year, mainly due to a significant reduction in government subsidies received[198] Expenses and Costs - The group's depreciation expenses rose to approximately HKD 11.4 million, an increase of about 20.6% compared to the previous year, primarily due to business expansion[31] - Operating lease payments and related expenses increased by 48.3% to HKD 6.5 million from HKD 4.4 million in the previous year, attributed to an increase in the number of restaurants and bars[32] - Financing costs increased by 7.1% to HKD 4.8 million from HKD 4.5 million in the previous year, mainly due to rising borrowing rates[33] - Employee costs rose to HKD (68,957,000) from HKD (57,254,000), marking an increase of 20.5%[101] - Total employee costs for the year amounted to approximately HKD 69.0 million, an increase of 20.8% from HKD 57.3 million in 2023[46] Financial Position - The group reported a significant uncertainty regarding its ability to continue as a going concern, with current liabilities exceeding current assets by HKD 94.9 million[69] - The debt-to-equity ratio improved to 458% from 564% in the previous year, indicating a stronger financial position[47] - The net current liabilities decreased to HKD (94,924,000) from HKD (98,422,000), indicating an improvement in the company's financial position[98] - The group has no significant foreign exchange risk as all transactions are conducted in HKD[45][58] - The group has no major investments or capital asset additions planned for the year[56] Share Awards and Governance - A total of 28,896,000 share awards were granted to three executive directors under the new share plan adopted on September 29, 2023[61] - The fair value of the share awards granted on September 29, 2023, was HKD 0.081 per share, with a purchase price of zero[75] - The number of share awards available for grant under the share plan as of March 31, 2024, was 57,104,000 shares[78] - The company has adopted a strict code of conduct for directors' securities trading, aligning with GEM Listing Rules[76] - The audit committee, composed of three independent non-executive directors, reviewed the annual performance and internal controls without objection[77] Profitability - The net profit for the year was HKD 791,000, a significant decrease of 92.7% from HKD 10,910,000 in the previous year[101] - Basic and diluted earnings per share decreased to HKD 0.07 from HKD 1.12, a decline of 93.8%[103] - The company reported a net profit attributable to shareholders of HKD 604,000 for the year, a significant decrease from HKD 9,674,000 in 2023[162] - The group reported a pre-tax profit of HKD 623,000 for the year ended March 31, 2024[146] Assets and Liabilities - Total assets decreased to HKD 183,838,000 from HKD 204,263,000, a reduction of 10%[107] - Total liabilities decreased to HKD 154,476,000 from HKD 176,402,000, a decline of 12.4%[109] - The company's equity increased to HKD 29,362,000 from HKD 27,861,000, an increase of 5.4%[109] - Non-current assets decreased to HKD 167,439,000 from HKD 189,743,000, a decline of 11.7%[106] - The fair value of investment properties was approximately HKD 21,500,000 as of March 31, 2024, down from HKD 22,580,000 in 2023[186] Employee and Operational Metrics - As of March 31, 2024, the group operates 54 bars and restaurants under the brands "Pacific Bar," "Shape," "Moon Ocean," and "Pacific" in Hong Kong[37] - As of March 31, 2024, the group had 566 employees, up from 552 employees in 2023[46] - Depreciation expense for right-of-use assets was HKD 38.9 million, up 14.0% from HKD 34.1 million in the previous year, primarily due to business expansion[200]
太平洋酒吧(08432) - 2024 - 年度业绩