Financial Performance - Total revenue for the year ended March 31, 2024, was HKD 5,318,000, an increase of 48% from HKD 3,592,000 in the previous year[5] - The total proceeds from the sale of listed securities amounted to HKD 29,770,000, a significant decrease of 83% compared to HKD 177,729,000 in the prior year[5] - The net loss before tax for the year was HKD 37,769,000, an improvement of 8% from a loss of HKD 41,152,000 in the previous year[5] - Basic and diluted loss per share for the year was HKD 9.15, compared to HKD 10.92 in the previous year, indicating a reduction in loss per share[5] - The group recorded total proceeds from the sale of securities of approximately HKD 29.8 million, a decrease of about 83.2% compared to approximately HKD 177.7 million last year[32] - The group achieved revenue of approximately HKD 5.3 million, an increase of about 48.1% from approximately HKD 3.6 million last year[32] - The net loss attributable to the company's owners was approximately HKD 37.8 million, down from approximately HKD 41.2 million last year[32] Assets and Equity - Non-current assets totaled HKD 39,121,000, an increase of 64% from HKD 23,834,000 in the previous year[7] - Current assets decreased to HKD 129,166,000 from HKD 180,661,000, reflecting a decline of 29%[7] - Cash and cash equivalents dropped significantly to HKD 7,112,000 from HKD 27,585,000, a decrease of 74%[7] - Total equity decreased to HKD 158,862,000 from HKD 196,631,000, a decline of 19%[7] - The group's audited net asset value as of March 31, 2024, was approximately HKD 158.9 million, compared to approximately HKD 196.6 million last year[32] - The net asset value per share was HKD 0.39 as of March 31, 2024, down from HKD 0.48 in 2023[61] Investments - As of March 31, 2024, the group's investment portfolio is valued at approximately HKD 155.3 million, comprising direct investments in unlisted equity securities, listed company bonds, and unlisted company bonds[35] - The group's significant investments include equity investments in Huilong Holdings Limited (HKD 13.2 million, 7.8% of total assets) and Ying Group Holdings Limited (HKD 15.6 million, 9.3% of total assets) as well as bond investments in Haowen Holdings Limited (HKD 17.2 million, 10.2% of total assets)[36] - The group incurred a loss of approximately HKD 32.2 million from listed investments, with realized losses of approximately HKD 45.7 million and unrealized gains of approximately HKD 13.2 million[49] Operational Highlights - The group’s main business remains investment holding and trading of securities, with no new strategic initiatives or product developments mentioned in the report[9] - The group did not declare or recommend any dividends for the year ended March 31, 2024, consistent with the previous year[26] - The group did not engage in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the fiscal year ending March 31, 2024[63] - The group employed 11 staff members as of March 31, 2024, with total employee costs approximately HKD 700,000, a significant decrease from HKD 4,200,000 in 2023[64] Financial Management and Strategy - The company has not applied any new accounting standards that are not yet effective, indicating stability in accounting practices for the foreseeable future[16] - The group emphasizes strict cost control policies and rapid adjustments to business strategies in response to market changes to enhance shareholder returns[38] - Ying Group is reassessing its financial strategies to mitigate potential impacts from changing interest rates and global economic conditions[41] Market Outlook - For 2024, Ying Group maintains an optimistic outlook for the Hong Kong economy, anticipating gradual recovery as global economic stability is expected to improve[44] - The group plans to closely monitor the performance of Huilong and Ying Group, adjusting investment strategies as necessary to respond to market dynamics[40][44] - Huilong is reviewing its asset structure and business strategy to adapt to the uncertain economic environment in Hong Kong[38] Compliance and Governance - The company complied with the corporate governance code but deviated from the requirement that the roles of chairman and CEO should be separate[69] - The audit committee reviewed the group's consolidated performance for the year ending March 31, 2024, including accounting principles and risk management[70] - The audit committee consists of three independent non-executive directors[71] - The preliminary performance data for the year ending March 31, 2024, was confirmed by the group's auditor, but no assurance opinion was issued[72] - The annual report for 2023/2024 will be sent to shareholders and published on the stock exchange and the company's website[74]
中国投融资(01226) - 2024 - 年度业绩