Revenue and Profitability - The company recorded revenue of HKD 2,230 million for the year, a significant increase of approximately 285% compared to HKD 579 million in the previous year, primarily driven by property development sales[20]. - Revenue from property development sales amounted to HKD 2,087 million, contributing to the overall increase in gross profit[20]. - The company reported a profit attributable to owners of HKD 132 million, a turnaround from a loss of HKD 87 million in the previous year[20]. - Total revenue for the year ended March 31, 2024, was HKD 2,230 million, with property sales to external customers contributing HKD 2,087 million, representing a significant portion of total revenue[91][92]. - Gross profit for the fiscal year 2024 was HKD 405 million, compared to HKD 76 million in 2023, indicating a gross margin improvement[98]. - The net profit for the fiscal year 2024 was HKD 139 million, a turnaround from a net loss of HKD 146 million in 2023[100]. - Earnings per share for the fiscal year 2024 were HKD 2.40, compared to a loss per share of HKD 1.58 in the previous year[99]. Financial Position - The net cash position as of March 31, 2024, was HKD 483 million, compared to a net debt position of HKD 377 million a year earlier[27]. - The company’s net asset value increased to HKD 373 million from HKD 245 million year-on-year, reflecting improved financial health[4]. - The group reported a pre-tax profit of HKD 214 million, with total assets amounting to HKD 4,255 million and total liabilities of HKD 3,882 million[77]. - The total assets of the company decreased to HKD 4,249 million in 2024 from HKD 7,976 million in 2023, indicating a contraction in the asset base[118]. - The group has outstanding bank loans of HKD 218 million as of March 31, 2024, significantly reduced from HKD 551 million a year earlier, with an effective interest rate of approximately 4.3%[140]. - The group has approximately HKD 427 million in committed but undrawn bank credit facilities as of March 31, 2024, down from HKD 872 million a year earlier[162]. Operational Performance - The group reported a segment profit of HKD 278,000,000 from its property development business, a significant improvement from a segment loss of HKD 33,000,000 in the previous year[44]. - The revenue from the home appliance, wire, and cable trade in China decreased by approximately 45% to HKD 72,000,000, compared to HKD 131,000,000 in the previous year[48]. - The company implemented stringent cost control measures to reduce operational costs amid challenging market conditions[25]. - The group aims to ensure operational cash flow safety and financial stability while achieving sustainable development and creating greater value for shareholders[49]. - The company has not made any significant new investments during the year[58]. Asset Management - The company has a significant amount of development properties valued at HKD 2,361 million as of March 31, 2024, down from HKD 5,777 million in 2023, indicating a strategic shift in asset management[118]. - The group has pledged development properties with a total book value of HKD 7,000,000 as of March 31, 2024, down from HKD 1,130,000,000 as of March 31, 2023[56]. - The total area of completed saleable properties certified during the year is approximately 493,700 square meters[135]. - As of March 31, 2024, the total saleable area of properties held for sale is approximately 256,000 square meters, down from 538,200 square meters available during the year[135]. Strategic Initiatives - The company plans to continue expanding existing and new distribution channels and developing new products for the U.S. retail market[25]. - The company expects stable growth in its Chinese home appliance business as the real estate market gradually recovers[25]. - The group aims to adapt to market changes and will evaluate held projects to adjust plans for those affected by market factors[161]. - The group will focus on optimizing financial resources and cash flow management to support ongoing operations[138]. Compliance and Governance - The company has complied with the standards of the code of conduct for securities transactions by directors throughout the year[188]. - The audit committee has reviewed the consolidated financial statements for the year, ensuring compliance with accounting principles and practices[189]. - The auditor, Crowe Horwath, confirmed that the figures in the financial statements are consistent with the audited consolidated financial statements for the year[189].
敏捷控股(00186) - 2024 - 年度业绩