Financial Performance - Revenue for the year ended March 31, 2024, was HKD 271 million, a decrease of 35% compared to HKD 417 million for the previous year[2] - Gross profit for the same period was HKD 50 million, down 14% from HKD 58 million year-on-year[2] - The loss attributable to shareholders was HKD 117 million, a 67% improvement from a loss of HKD 353 million in the previous year[2] - Basic loss per share was HKD 2.03, a 67% decrease from HKD 6.11 in the prior year[2] - The company reported a net loss of HKD 123 million for the year, compared to a loss of HKD 387 million in the previous year, showing a positive trend in financial performance[4] - The company reported a loss before tax of HKD 129,274,000, with a net loss for the year amounting to HKD 117,417,000[24] - The group recorded a pre-tax loss of approximately HKD 129 million, a decrease from HKD 361 million in the previous year, with a net loss attributable to shareholders of approximately HKD 117 million, down from HKD 353 million[73] - The company reported a net loss of HKD 352,847 million for the year ended March 31, 2023[25] Assets and Liabilities - Total equity attributable to shareholders decreased to HKD 142 million from HKD 265 million, a decline of 46%[2] - Total assets as of March 31, 2024, were valued at HKD 755,028,000, while total liabilities amounted to HKD 612,891,000[24] - Total liabilities decreased to HKD 555 million from HKD 677 million, indicating improved financial management[6] - The group's total assets decreased by 25% to approximately HKD 755 million, down from HKD 1,004 million in the previous year, mainly due to the recognition of costs for sold properties[75] - The group had cash and cash equivalents of approximately HKD 35 million and restricted bank deposits of about HKD 10 million as of March 31, 2024[103] - The net debt position of the group was approximately HKD 121 million, compared to HKD 151 million in 2023[103] - The capital debt ratio increased to 1.10 from 0.71 in 2023, with total bank and other borrowings of approximately HKD 156 million[109] Operational Segments - Total revenue for the year ended March 31, 2024, was HKD 271,012,000, with property development contributing HKD 132,665,000, printing HKD 130,915,000, and property investment HKD 7,432,000[24] - The EBITDA for the property development segment was HKD (34,630,000), indicating a significant operational loss[24] - The printing segment achieved an EBITDA of HKD 8,024,000, reflecting a positive performance compared to other segments[24] - The group’s operational segments are assessed based on EBIT and EBITDA metrics, highlighting the financial performance of each segment[21] - The property development business recorded an operating loss of approximately HKD 35 million in 2023, compared to a loss of HKD 330 million in 2022[79] - The printing business generated an operating profit of approximately HKD 5 million in 2023, recovering from an operating loss of HKD 3 million in 2022, despite a revenue decrease to approximately HKD 131 million from HKD 175 million[83] - The group’s property investment business recorded an operating loss of approximately HKD 74 million in 2023, compared to an operating profit of HKD 5 million in 2022, primarily due to unrealized revaluation losses[85] Market and Strategic Initiatives - The group continues to explore strategic initiatives for market expansion and potential acquisitions to enhance its business portfolio[20] - The group continues to monitor the real estate market in mainland China to optimize property development operations and maximize shareholder returns[81] - The management maintains a cautiously optimistic outlook on the global printing and packaging market, implementing appropriate risk management and business development strategies[84] - The group plans to explore opportunities in the financial and asset management services market in Hong Kong to capitalize on the asset management market[99] Financial Management and Governance - The company did not adopt any new or revised Hong Kong Financial Reporting Standards that would significantly impact its financial statements[12] - The company is currently evaluating the impact of new accounting standards but has not identified any significant effects on its performance or financial position[12] - The group has received a one-time waiver from the bank regarding financial covenants on bank loans amounting to HKD 104 million[56] - The group agreed to maintain a certain level of tangible net worth and total borrowings during the waiver period[118] - The group has not engaged in any significant acquisitions or disposals of subsidiaries or associates for the year ended March 31, 2024[117] - The group maintains sufficient public float as required by listing rules as of March 31, 2024[130] - The company has adhered to the corporate governance principles outlined in the Hong Kong Stock Exchange Listing Rules as of March 31, 2024[136] Employee and Operational Changes - The group employed 119 staff as of March 31, 2024, down from 157 in 2023, and offers various employee benefits including performance bonuses and training[113] - The company has not declared any interim or final dividends for the year ending March 31, 2024, consistent with the previous year[60] Auditor's Report - The preliminary financial results for the year ending March 31, 2024, have been audited and confirmed by the independent auditor, with no discrepancies noted[137] - The independent auditor's report does not provide any opinions or conclusions regarding the preliminary financial results published[137]
融太集团(01172) - 2024 - 年度业绩