Financial Performance - The company's revenue for the year ended March 31, 2024, was HKD 23,329,000, an increase from HKD 12,792,000 in the previous year, representing an 83% growth[7] - Other income and gains for the same period amounted to HKD 4,513,000, up from HKD 1,665,000, indicating a 170% increase[7] - The total income, including revenue and other income, reached HKD 27,842,000, compared to HKD 14,457,000 in the prior year, marking a 93% increase[7] - The company reported an EBITDA loss of HKD 50,575,000 for the year, compared to a loss of HKD 79,098,000 in the previous year, showing a 36% improvement[14] - The net loss for the year was HKD 62,921,000, a decrease from HKD 89,910,000 in the previous year, reflecting a 30% reduction in losses[15] - The company reported a net loss attributable to shareholders of HKD 63,838,000 for the year, compared to a loss of HKD 89,915,000 in the previous year[41] - The group recorded a consolidated loss attributable to shareholders of approximately HKD 64,000,000 for the year ended March 31, 2024, a decrease from HKD 90,000,000 in 2023, primarily due to an increase in revenue and other income by approximately HKD 13,000,000[56] - The company reported a pre-tax loss of HKD 62,941,000 for the year, compared to a pre-tax loss of HKD 89,910,000 in the previous year, indicating an improvement in financial performance[96] Assets and Liabilities - The company's cash and bank balances increased to HKD 89,505,000 from HKD 65,366,000, representing a 37% rise[11] - Non-current assets decreased to HKD 29,071,000 from HKD 40,323,000, a decline of 28%[11] - Current liabilities were reduced significantly to HKD 13,641,000 from HKD 47,215,000, a decrease of 71%[11] - The company's total assets minus current liabilities increased to HKD 117,235,000 from HKD 70,267,000, indicating a 67% growth[11] - The total assets, net current assets, and net asset value as of March 31, 2024, are approximately HKD 131,000,000, HKD 88,000,000, and HKD 77,000,000 respectively, compared to HKD 117,000,000, HKD 30,000,000, and HKD 34,000,000 in 2023[54] - The group’s debt-to-equity ratio decreased to 49.3% from 190.4% in 2023[54] Revenue Breakdown - External customer revenue from the global market business was HKD 10,143,000, while asset management business revenue was HKD 12,265,000, showing significant growth in both segments[96] - The asset management business revenue increased significantly by 7,244.3% to HKD 12,265,000, compared to HKD 167 in 2023[59] - The insurance brokerage business revenue decreased by 55.8% to HKD 1,097,000 from HKD 2,482,000 in 2023[59] - The total revenue from asset management and advisory fees was HKD 12,265,000, a significant increase from HKD 167,000 in the previous year, showcasing strong growth in this segment[106] Expenses and Costs - The company’s financing costs increased to HKD 7,916,000 from HKD 4,095,000 in the previous year[39] - The group’s financing costs increased by 93.3% to approximately HKD 8,000,000 for the year, compared to HKD 4,000,000 in the same period last year[70] - Operating expenses were approximately HKD 78,000,000, a decrease of 16.2% compared to HKD 94,000,000 in the same period of 2023[135] - Employee costs for the year amounted to HKD 39 million, down from HKD 55 million in the previous year[85] - Employee benefits expenses totaled approximately HKD 39,000,000, down from HKD 55,000,000 in 2023[135] Accounts Receivable and Impairment - The accounts receivable as of March 31, 2024, totaled HKD 3,303,000, significantly up from HKD 1,276,000 in the previous year[35] - The provision for impairment losses on receivables increased to HKD 3,303,000 in 2024, compared to HKD 1,276,000 in 2023[1] - The impairment losses on accounts receivable amounted to HKD 322,000, reflecting challenges in credit management[96] - The group reported a significant increase in receivables from advisory services, rising to HKD 1,897,000 in 2024 from HKD 36,000 in 2023[1] Corporate Governance and Compliance - The company did not adopt any new accounting standards or interpretations that would have a significant impact on its performance or financial position during the reporting period[20] - The audit committee reviewed the group's accounting principles and practices, discussing financial reporting matters for the year ending March 31, 2024[78] - The company confirmed that all directors adhered to the trading standards set forth in the listing rules throughout the reporting period[80] - The company has adopted corporate governance practices in line with the Hong Kong Stock Exchange's rules, with one exception regarding the attendance of the chairman at the annual general meeting[88] Future Outlook and Strategy - The company is implementing financial management and capital preservation strategies to address changing risk conditions in the current high-interest environment[138] - The company aims to meet customer demand for stable and secure investment portfolios while addressing challenges posed by the current market environment[138] - Multiple customer engagement events and roadshows were held to showcase unique and innovative investment solutions to potential high-net-worth clients[138] Dividends - The group does not recommend the payment of a final dividend for the year ended March 31, 2024[57] - The company did not recommend a dividend for the year ended March 31, 2024, consistent with the previous year[115]
裕承科金(00279) - 2024 - 年度业绩