Financial Performance - The company reported a loss of HKD 125,140,000 for the year ending March 31, 2024, compared to a loss of HKD 82,088,000 in the previous year, representing a year-over-year increase in losses of approximately 52.5%[3] - Revenue from continuing operations decreased to HKD 173,689,000, down 78.9% from HKD 825,538,000 in the previous year[11] - Gross profit for the year was HKD 36,516,000, a decline of 86.2% compared to HKD 264,285,000 in the prior year[11] - The company reported a loss from continuing operations of approximately HKD 61,327,000 for the year, compared to a loss of HKD 24,453,000 in the previous year, indicating a significant increase in losses[52] - The basic and diluted loss per share from continuing operations was approximately HKD 0.25, up from HKD 0.15 in the previous year, reflecting a worsening financial performance[61] - The company’s total comprehensive expenses for the year were HKD 123,585,000, compared to HKD 97,641,000 in the previous year, reflecting increased financial strain[59] - The property development segment reported a loss of HKD 62,110,000, while the computer equipment leasing and sales segment generated a profit of HKD 26,633,000[98] - The financing business recorded a profit of HKD 151,000, contributing to a total pre-tax loss of HKD 51,961,000 for the year[98] Asset and Liability Management - The total assets of the group as of March 31, 2024, were approximately HKD 1,966,165,000, down from HKD 2,378,267,000 a year earlier, indicating a decrease of about 17.3%[15] - The total liabilities of the group were approximately HKD 1,389,609,000, down from HKD 1,755,839,000, reflecting a decrease of approximately 20.8%[15] - The equity attributable to the owners of the company was approximately HKD 576,556,000, down from HKD 622,428,000, a decline of about 7.4%[15] - Total assets decreased to HKD 598,397,000 as of March 31, 2024, down from HKD 755,205,000 in the previous year, indicating a decline in the company's asset base[58] - Total borrowings as of March 31, 2024, amounted to approximately HKD 534,158,000, with around HKD 512,586,000 due within the next twelve months[72] - The group’s total liabilities increased slightly to HK$678,402,000 in 2024 from HK$677,552,000 in 2023, showing stability in financial obligations[160] Cash Flow and Liquidity - The company had cash and cash equivalents of HKD 334,518,000 as of March 31, 2024, compared to HKD 268,997,000 in the previous year, showing an increase in liquidity[62] - The current ratio improved to 1.03 from 0.86 in the previous year, indicating better short-term financial health[16] - The group’s cash and bank balances increased to HKD 334,518,000 in 2024 from HKD 268,997,000 in 2023, an increase of approximately 24.4%[111] Revenue Streams - Revenue from property sales decreased significantly to HKD 42,259,000 in 2024 from HKD 714,134,000 in 2023, representing a decline of approximately 94.1%[80] - Revenue from leasing computer equipment and related services increased to HKD 131,430,000 in 2024 from HKD 87,123,000 in 2023, reflecting an increase of approximately 50.8%[80] - Revenue from external customers in Hong Kong was HKD 131,430,000, up from HKD 111,404,000 in the previous year[105] - Revenue from external customers in China decreased significantly to HKD 42,259,000 from HKD 714,134,000 year-over-year[105] Impairment and Provisions - The company recorded an impairment loss on properties held for sale of HKD 13,198,000, significantly reduced from HKD 172,731,000 in the previous year[11] - The company recognized an impairment loss of HKD 13,198,000 on properties held for sale due to the weak property market conditions in China[52] - The impairment loss recognized for completed properties held for sale was HK$13,198,000 in 2024, a substantial decrease from HK$172,731,000 in 2023, indicating improved asset valuation[151] - The company reported a decrease in the provision for impairment losses, remaining stable at HK$131,919,000 in both 2024 and 2023, suggesting effective credit risk management[144] Business Strategy and Operations - The group plans to discontinue its international business settlement classification and sell its interest in the contact lens business[71] - The group is primarily engaged in property development, hotel operations, and leasing and trading of computer equipment in China[71] - The group has maintained a good relationship with banks and other lenders, enhancing its ability to negotiate debt extensions or seek new long-term financing[72] - The group plans to reallocate resources following the termination of the international business settlement segment, which has not generated income since 2016[195] Employee and Operational Costs - Total employee costs decreased to HKD 11,588,000 in 2024 from HKD 14,475,000 in 2023, representing a reduction of approximately 19.5%[109] - The cost of inventory recognized as an expense significantly decreased to HKD 32,997,000 in 2024 from HKD 466,229,000 in 2023, indicating a reduction of about 92.9%[109] Taxation - The group reported a loss of HKD 4,703,000 in current tax expenses for corporate income tax in 2024, down from HKD 5,136,000 in 2023[119] - The applicable corporate income tax rate for the group's Chinese subsidiaries remains at 25% for the fiscal year ending March 31, 2024, consistent with 2023[108]
国际商业结算(00147) - 2024 - 年度业绩