Financial Performance - Revenue for the year ended March 31, 2024, was HKD 242,638 thousand, representing a 27.3% increase from HKD 190,621 thousand in the previous year[2]. - Gross profit for the same period was HKD 26,393 thousand, up from HKD 12,819 thousand, indicating a significant improvement in profitability[2]. - The company reported a profit before tax of HKD 3,929 thousand, compared to a loss of HKD 8,109 thousand in the prior year, marking a turnaround in financial performance[2]. - Net profit for the year was HKD 3,320 thousand, a recovery from a loss of HKD 8,102 thousand in the previous year[2]. - Basic earnings per share for the year were HKD 0.17, compared to a loss per share of HKD 0.41 in the previous year[2]. - The group’s net profit for the fiscal year was approximately HKD 3.3 million, compared to a net loss of approximately HKD 8.1 million in the previous year[98]. - The gross profit for fiscal year 2024 was approximately HKD 26,400,000, up from about HKD 12,800,000 in fiscal year 2023, resulting in a gross margin improvement from 6.7% to 10.9%[91]. Assets and Liabilities - Total assets as of March 31, 2024, amounted to HKD 162,864 thousand, slightly up from HKD 155,587 thousand in the previous year[5]. - Current liabilities were reported at HKD 44,453 thousand, a decrease from HKD 45,015 thousand in the previous year[5]. - The company's net asset value increased to HKD 125,781 thousand from HKD 122,461 thousand year-over-year[5]. - The company reported a total contract liability of HKD (19,319) in 2024, compared to HKD (943) in 2023, indicating a significant increase in liabilities[38]. - Contract liabilities rose sharply to HKD (25,338,000) in 2024 from HKD (2,119,000) in 2023, reflecting a significant increase in obligations[59]. - The company's asset-liability ratio as of March 31, 2024, was 0%, compared to approximately 23.5% on March 31, 2023, indicating no bank borrowings were utilized[135]. Revenue Sources - The group reported revenue from external customers in Hong Kong for facade engineering and building metal finishing services, with a fair value of recognized amounts of HKD 125,293 thousand in 2024 compared to HKD 38,867 thousand in 2023, indicating a significant increase[25][28]. - The group’s total revenue from facade engineering and building metal finishing services is primarily derived from fixed-price contracts with major property developers and general contractors in Hong Kong[27]. - The company’s revenue from design, supply, and installation services for exterior wall projects was HKD 151,755 in 2024, down from HKD 162,650 in 2023[41]. - Total revenue from external customers was entirely derived from clients located in Hong Kong[42]. - The company’s income from residential properties increased to HKD 145,974,000 in fiscal year 2024, representing 60.2% of total revenue, compared to HKD 96,455,000 or 50.6% in fiscal year 2023[90]. Costs and Expenses - The total employee costs increased to HKD 37,246 thousand in 2024 from HKD 31,361 thousand in 2023, reflecting a rise of approximately 18%[33]. - The group’s operating and administrative expenses for the fiscal year were approximately HKD 22.9 million, an increase of approximately HKD 1.1 million or 5.1% from approximately HKD 21.8 million in the previous year[114]. - Financing costs rose to HKD 1,446 thousand in 2024 from HKD 1,311 thousand in 2023, representing an increase of about 10%[32]. - The actual interest rate on floating bank loans for fiscal year 2024 ranged from 6.0% to 7.8%, compared to 4.6% to 7.7% in fiscal year 2023[83]. Contracts and Projects - The company secured 12 new projects during the year, with a total contract value of approximately HKD 92.1 million, including 7 facade engineering projects and 5 building metal facade projects[87]. - The group had 15 ongoing projects with a total contract value of approximately HKD 704.4 million as of March 31, 2024[104]. - The company has secured two new contracts totaling approximately HKD 88.5 million after March 31, 2024[76]. Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to ensure compliance with corporate governance standards[131]. - The company has consistently adhered to the corporate governance code throughout the year, with ongoing reviews to enhance governance policies[160]. - The company has not declared a final dividend for the current fiscal year, consistent with the previous fiscal year[132]. Employee and Staffing - As of March 31, 2024, the company had 58 full-time employees, an increase from 54 on March 31, 2023, primarily due to the rise in project staff[123]. - The company has implemented strict cost control measures and adjusted project staffing based on construction progress and expected workload[123]. Other Income and Financial Adjustments - The group recognized other income of HKD 1,680 thousand in 2024, compared to HKD 1,597 thousand in 2023, showing a slight increase[29]. - The group reported a significant increase in life insurance income, rising to HKD 526 thousand in 2024 from HKD 240 thousand in 2023[33]. - The company reported a net other income of approximately HKD 1.7 million for fiscal year 2024, compared to HKD 1.6 million in fiscal year 2023[93]. - The company’s deferred tax expense was HKD (609) in 2024, a significant change from a tax benefit of HKD 7 in 2023[53]. Shareholder Information - The annual report for the year ending March 31, 2024, will be sent to shareholders and is available on the company's website[162]. - The board expresses gratitude for the efforts of the management team and employees, as well as the trust and support from shareholders and business partners[163]. - The company will suspend share registration from August 13, 2024, to August 16, 2024, to facilitate the annual general meeting[161].
智中国际(06063) - 2024 - 年度业绩