Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 320,746,000, an increase from HKD 237,211,000 in the previous year, representing a growth of approximately 35.2%[4] - The gross loss before tax was HKD 11,975,000, slightly higher than the loss of HKD 11,697,000 reported for the previous year[4] - The company recorded a net loss attributable to shareholders of HKD 11,794,000, compared to a loss of HKD 11,611,000 in the prior year, indicating a year-over-year increase in losses of about 1.6%[4] - Basic and diluted loss per share was HKD 0.04, an improvement from HKD 0.05 in the previous year[4] - The group reported a revenue of HKD 320,746,000 for the year 2024, an increase from HKD 237,211,000 in 2023, representing a growth of approximately 35.2%[43] - The basic loss attributable to shareholders was approximately HKD 11,794,000 for 2024, compared to HKD 11,611,000 in 2023, indicating a slight increase in losses[53] - The company reported a loss attributable to shareholders of approximately HKD 11.8 million for the year ended March 31, 2024, compared to HKD 11.6 million in 2023[100] - For the year ended March 31, 2024, the group recorded a net loss of approximately HKD 11.8 million, compared to a net loss of approximately HKD 11.6 million for the year ended March 31, 2023[120] Assets and Equity - Total assets decreased to HKD 87,179,000 from HKD 91,072,000, reflecting a decline of approximately 4.3%[35] - Current assets included cash and cash equivalents of HKD 35,065,000, down from HKD 47,296,000, a decrease of about 25.7%[12] - The company’s total equity attributable to shareholders was HKD 87,139,000, down from HKD 90,913,000, indicating a decrease of approximately 4.5%[36] - The company’s non-current assets included property, plant, and equipment valued at HKD 1,229,000, an increase from HKD 757,000[11] Revenue Sources and Customer Contributions - The company’s revenue from major customers showed significant changes, with Customer A contributing HKD 63,377,000, down from HKD 83,496,000, a decline of about 24.1%[30] - The company operates solely in Hong Kong, with all revenue generated from this market, and has no non-current assets located outside of Hong Kong[30] Costs and Expenses - The group’s total direct costs for subcontracting amounted to HKD 276,527,000 in 2024, compared to HKD 196,971,000 in 2023, reflecting an increase of approximately 40.3%[51] - Administrative and other operating expenses rose by approximately HKD 0.5 million or 3.8%, from about HKD 13.3 million in 2023 to approximately HKD 13.8 million in 2024[98] - Financing costs surged by approximately 575%, increasing from about HKD 4,000 in 2023 to approximately HKD 27,000 in 2024, mainly due to higher lease interest[99] Impairment and Credit Losses - The group’s financial assets and contract asset impairment provisions amounted to HKD 1,298,000 in 2024, compared to a reversal of HKD 45,000 in 2023[51] - The expected credit loss rate increased to 4.88% in 2024 from 3.75% in 2023, with expected credit losses of HKD 2,763,000 compared to HKD 1,924,000 in the previous year[62] - The total credit loss for the year ended March 31, 2024, was approximately HKD 2,763,000, compared to HKD 1,924,000 in 2023, reflecting an increase of about 43.7%[88] Employee and Operational Metrics - The group reported a total employee cost of approximately HKD 23.3 million for the year ending March 31, 2024, compared to HKD 21.5 million in 2023, reflecting an increase of about 8.37%[150] - As of March 31, 2024, the group employed 67 full-time staff in Hong Kong, an increase from 58 in 2023, representing a growth of approximately 15.52%[150] Dividends and Shareholder Returns - The group did not declare or recommend any dividends for the year ending March 31, 2024, consistent with the previous year[52] - The board does not recommend the payment of a final dividend for the year ending March 31, 2024[149] Governance and Compliance - The company is committed to high standards of corporate governance to enhance shareholder value and corporate accountability[148] - The audit committee was established on September 29, 2017, and is responsible for reviewing financial information and internal control procedures[154] - The company has adopted the corporate governance code as per GEM listing rules to ensure compliance and accountability[148] Other Financial Metrics - The group’s gross profit margin for the year ended March 31, 2024, was approximately 0.5%, slightly down from 0.6% in the previous year[122] - The gross profit for the year ended March 31, 2024, was approximately HKD 1.6 million, up about 6.7% from approximately HKD 1.5 million in the previous year[122] - The total cash and cash equivalents as of March 31, 2024, were approximately HKD 29.7 million, down from HKD 42.0 million in 2023[108] - The company has no bank borrowings as of March 31, 2024, maintaining a debt ratio of zero[109]
怡康泰工程集团(08445) - 2024 - 年度业绩