Financial Performance - For the fiscal year ending March 31, 2024, the gross profit was HKD 70,776,000, a decrease of 21.6% from HKD 90,177,000 in the previous year[2]. - The pre-tax loss for the year was HKD 423,346,000, compared to a pre-tax loss of HKD 396,321,000 in the previous year, reflecting a deterioration of 6.9%[2]. - The loss from continuing operations attributable to the owners of the company was HKD 385,126,000, slightly higher than the loss of HKD 378,275,000 in the previous year[2]. - The total revenue from continuing operations was HKD 97,278,000 for the year ending March 31, 2024, down from HKD 118,770,000 in 2023, indicating a decline of 18.1%[49]. - The company reported a net loss of HKD 72,936,000 from other income and losses for the year ending March 31, 2024, compared to a loss of HKD 60,034,000 in 2023[50]. - The total loss for the year was HKD 385,126,000, slightly improved from a loss of HKD 385,481,000 in the previous year[200]. Revenue and Income Declines - Interest income decreased significantly to HKD 760,000 in 2024 from HKD 3,888,000 in 2023, representing a decline of 80.5%[50]. - The company's financial services revenue continued to decline, with income from financing guarantee services and other financing services dropping to HKD 7,100,000 from HKD 15,800,000 in the previous year[78]. - Rental income fell to HKD 26,315,000 from HKD 30,175,000, a decrease of about 13%[199]. - Other interest income decreased significantly to HKD 5,339,000 from HKD 11,363,000, reflecting a decline of approximately 53%[199]. Assets and Liabilities - As of March 31, 2024, the company's total liabilities amounted to HKD 2,761,200,000, with a debt-to-asset ratio of 0.77, compared to 0.69 on March 31, 2023[116]. - The company’s total assets were valued at HKD 3,587,800,000 as of March 31, 2024, down from HKD 4,430,900,000 a year earlier[116]. - The total current liabilities related to bank and other borrowings with repayment terms amounted to HKD 1,256,286,000, compared to HKD 1,548,526,000 in the previous year, reflecting a reduction of 18.9%[33]. - As of March 31, 2024, overdue receivables amounted to HKD 152,200,000, with measures taken to mitigate bad debt risks[126]. Financial Strategy and Support - The company received written confirmation of continued financial support from its ultimate controlling shareholder, ensuring the company can meet its foreseeable financial obligations[18]. - The company is actively negotiating with banks and financial institutions to ensure the refinancing of its bonds and borrowings to meet upcoming liabilities[43]. - The company may consider divesting non-core businesses and/or financial assets if necessary to improve financial stability[43]. - The company’s financial strategy includes close monitoring of liquidity needs and compliance with loan covenants to manage financial risks[133]. Operational Adjustments - The company is seeking to accelerate the construction progress of its serviced apartment project to facilitate pre-sales, with proceeds intended for construction costs and existing loan repayments[17]. - The company has suspended pre-sales for its second phase development project due to challenging market conditions, which is expected to delay stable income generation[103]. - The group has established a cautious operational approach in both China and Hong Kong due to the uncertain economic outlook[160]. Market Conditions and Risks - The company has reduced its loan and guarantee portfolio to high-risk clients due to a deteriorating business environment and rising credit risks[75]. - The group is closely monitoring the economic environment and adjusting strategies to mitigate risks from the ongoing weakness in the Chinese real estate sector[160]. - The independent auditor's report expressed a disclaimer of opinion due to insufficient audit evidence regarding the group's ability to continue as a going concern[166]. - The group has significant uncertainties regarding its ability to continue as a going concern, which may affect its financial stability[175]. Shareholder and Governance - The group has complied with all applicable corporate governance code provisions, except for certain deviations noted in the upcoming annual report[162]. - The group has not declared a final dividend for the year, consistent with the previous year[155].
普汇中金国际(00997) - 2024 - 年度业绩