Financial Performance - For the fiscal year ending March 31, 2024, the company's revenue was approximately HKD 608.1 million, a slight decrease of about 0.8% compared to HKD 612.8 million for the fiscal year ending March 31, 2023[13]. - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 8.7 million, a significant decrease of about 79.1% from HKD 41.7 million for the previous year[13]. - The gross profit margin decreased from approximately 6.8% for the fiscal year ending March 31, 2023, to about 1.4% for the fiscal year ending March 31, 2024[13]. - The total loss attributable to the owners of the company for the fiscal year ending March 31, 2024, was approximately HKD 32.4 million, compared to a profit of approximately HKD 30.6 million for the previous year[13]. - The basic loss per share for the fiscal year ending March 31, 2024, was approximately HKD 2.02, while the basic earnings per share for the fiscal year ending March 31, 2023, was approximately HKD 1.91[13]. - The company recorded a significant impairment loss of HKD 23.4 million for the fiscal year ending March 31, 2024, compared to HKD 0.5 million for the previous year[14]. - The company recorded a net loss of approximately HKD 32.4 million for fiscal year 2024, compared to a net profit of about HKD 30.6 million in fiscal year 2023[120]. - The company's tax expenses decreased from approximately HKD 4.2 million in fiscal year 2023 to about HKD 0.1 million in fiscal year 2024, a reduction of approximately 97.1%[129]. Assets and Liabilities - The company's net assets decreased from HKD 390.8 million as of March 31, 2023, to HKD 358.4 million as of March 31, 2024[15]. - Current assets decreased from HKD 368.4 million as of March 31, 2023, to HKD 359.1 million as of March 31, 2024[3]. - Total assets decreased from HKD 464,297,000 to HKD 454,228,000, a decline of approximately 2.3%[28]. - The group's net liabilities increased from HKD 394,634,000 to HKD 370,947,000, reflecting a decrease of about 6.0%[28]. - The company’s total equity attributable to shareholders was approximately 358.4 million HKD as of March 31, 2024, down from 390.8 million HKD a year earlier[103]. - The company’s interest-bearing borrowings and lease liabilities amounted to approximately 55.0 million HKD as of March 31, 2024, compared to 49.4 million HKD in the previous year[103]. - The company’s debt-to-equity ratio was approximately 15.0% as of March 31, 2024, up from 12.1% a year earlier[106]. - As of March 31, 2024, the company's net current assets were approximately HKD 359.1 million, a decrease from HKD 368.4 million as of March 31, 2023[131]. Revenue and Customer Performance - Customer A generated revenue of HKD 247,354 thousand in 2024, up from HKD 135,567 thousand in 2023, representing an increase of 82.5%[62]. - Customer B's revenue increased to HKD 182,408 thousand in 2024 from HKD 92,368 thousand in 2023, marking a growth of 97.7%[62]. - The total trade receivables, net of expected credit loss provisions, amounted to HKD 334,946 thousand in 2024, compared to HKD 310,624 thousand in 2023, reflecting an increase of 7.8%[68]. - The aging analysis of trade receivables shows that HKD 106,601 thousand was overdue for more than 90 days but within one year in 2024, down from HKD 128,225 thousand in 2023, indicating a decrease of 16.5%[69]. - The total expected credit loss provision for trade receivables was HKD 22,096 thousand in 2024, compared to HKD 2,698 thousand in 2023, indicating a significant increase in provisions[68]. Dividends and Shareholder Returns - The board of directors recommended not to declare any final dividend for the fiscal year ending March 31, 2024[13]. - The company did not declare or recommend any dividends for the year ended March 31, 2024, consistent with the previous year[67]. - The board has resolved not to declare any final dividend for the fiscal year ending March 31, 2024, similar to the previous year[131]. Operational Changes and Governance - The company has adopted sound corporate governance practices to maintain shareholder trust and protect stakeholder interests[166]. - The audit committee is composed entirely of non-executive directors, with a majority being independent[172]. - The financial statements for the year ended March 31, 2024, have been confirmed to be consistent with the audited consolidated financial statements[175]. - The group operates solely in Hong Kong, with all revenue from external customers derived from this market for both 2024 and 2023[81]. - The group operates primarily in one business segment, providing template engineering services in Hong Kong[161]. - There were no significant acquisitions or disposals of subsidiaries or associated companies during the year ended March 31, 2024[162]. Accounting Policies and Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards, which had no significant impact on the financial position or performance for the current and prior years[44]. - The group has implemented changes in accounting policies due to the cancellation of the MPF-long service payment offset mechanism, with retrospective application affecting the previous fiscal year's financial statements[54]. - The adjustments made for accounting policy changes did not affect the cash flow amounts for the year ended March 31, 2023[50]. - The group has not early adopted any revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[54]. - The application of the 2020 and 2022 amendments to the Hong Kong Financial Reporting Standards is not expected to have a significant impact on the group's financial position and performance[61]. Employee and Operational Metrics - The company employed 1,236 staff as of March 31, 2024, down from 1,467 staff as of March 31, 2023[141]. - The company has no significant capital commitments as of March 31, 2024, consistent with the previous year[135]. - The company did not receive any government subsidies in fiscal year 2024, compared to 18.2 million HKD received in fiscal year 2023[99]. - The company is currently renegotiating loan terms with banks due to not meeting a financial covenant related to EBITDA[104].
天任集团(01429) - 2024 - 年度业绩