Financial Performance - The group reported an operating loss of approximately HKD 16,036,000 for the fiscal year ending March 31, 2024, compared to an operating loss of HKD 5,237,000 in 2023, representing an increase of approximately 205.56%[2]. - Total revenue for the fiscal year was HKD 38,962,000, a decrease of approximately 29.49% from HKD 55,353,000 in the previous year[3]. - Gross profit decreased to HKD 18,674,000 from HKD 27,009,000, reflecting a decline of approximately 30.93%[3]. - The group recorded a net loss attributable to shareholders of HKD 17,110,000, compared to HKD 5,881,000 in the previous year, marking an increase of approximately 190.56%[5]. - The pre-tax loss increased to HKD 16,344,000 from HKD 5,651,000, representing an increase of approximately 189.22%[33]. - The company reported a loss attributable to ordinary shareholders of HKD 17,110,000 for the year ended March 31, 2024, compared to a loss of HKD 5,881,000 for the previous year[55]. - The group reported a net loss of HKD 17,387,000 for the year ending March 31, 2024, with current liabilities exceeding current assets by approximately HKD 16,910,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[112]. - The total comprehensive expenses for the year were HKD 17,968,000, compared to HKD 6,992,000 in the previous year[131]. Revenue and Income - Other income significantly dropped to HKD 149,000 from HKD 5,235,000, a decrease of approximately 97.15%[30]. - The company's revenue for the year ended March 31, 2024, was approximately HKD 38,962,000, a decrease of about 29.61% compared to HKD 55,353,000 in the previous year[149]. - For the fiscal year ending March 31, 2024, the group reported total revenue from comprehensive hospital services of HKD 38,962,000, a decrease of 29.5% from HKD 55,353,000 in the previous year[195]. Expenses and Costs - Selling and distribution expenses decreased by approximately 34.20% to HKD 8,918,000 from HKD 13,553,000, primarily due to the temporary suspension of operations at Beijing ZhiJing Hospital[31]. - Total financial expenses for the year ended March 31, 2024, were approximately HKD 308,000, a decrease of about 25.60% from HKD 414,000 in the previous year, primarily due to reduced interest expenses on lease liabilities[61]. - Employee costs, including director remuneration, were approximately HKD 22,669,000 for the year ending March 31, 2024, down from HKD 25,757,000 in the previous year[99]. - The group’s financial expenses for the year included salaries and allowances totaling HKD 17,992,000, down from HKD 20,401,000 in the previous year[198]. - The group’s depreciation of right-of-use assets was HKD 3,136,000 for the year, compared to HKD 4,192,000 in the previous year[169]. Assets and Liabilities - As of March 31, 2024, approximately HKD 1,503,000 of the group's bank balance was frozen due to legal proceedings, compared to HKD 4,144,000 in the previous year[39]. - The company's trade payables at the end of the reporting period were approximately HKD 1,270,000, down from HKD 1,709,000 in the previous year[57]. - The company has no bank borrowings as of March 31, 2024, and its assets are not subject to any mortgages[70]. - Current liabilities amounted to HKD 15,510,000, a decrease from HKD 17,792,000 in the previous year[134]. - The group recorded total current assets of approximately HKD 8,705,000 as of March 31, 2024, down from HKD 27,062,000 in the previous year, resulting in a current ratio of approximately 0.34 compared to 1.33 in the prior year[187]. - The group reported a net asset value of HKD 1,407,000 as of March 31, 2024, a significant decrease from HKD 19,375,000 in the previous year[157]. - The company's cash and bank balances decreased to HKD 3,644,000 from HKD 17,685,000 in the previous year[134]. Corporate Governance and Compliance - The company has adopted a corporate governance code that meets or exceeds the standards set out in the GEM Listing Rules[85]. - The company has complied with the applicable code provisions of the corporate governance code as per GEM Listing Rules Appendix C1[120]. - The audit committee has reviewed the financial performance for the year and confirmed compliance with applicable accounting standards and regulations[123]. Strategic Initiatives - The group aims to adapt to the evolving healthcare market by continuously assessing market trends and patient needs to enhance service offerings[35]. - Financial prudence and sustainability remain a priority, with the group committed to maintaining financial stability while seeking growth opportunities aligned with strategic goals[38]. - The company is undertaking comprehensive upgrades to hospital facilities, including renovations and modernization of treatment areas, to enhance patient experience[63]. - The group is investing in advanced medical technologies, including diagnostic imaging systems and high-tech sterilization equipment, to enhance service quality and efficiency[91]. - The company is implementing digital healthcare solutions to streamline processes and ensure excellent customer service, aiming for a seamless patient experience[92]. - The group has established strategic partnerships with leading medical institutions to enhance service capabilities and attract top professionals, aiming to improve its reputation in the healthcare industry[184]. - The group is focusing on regulatory compliance and quality assurance measures to ensure uninterrupted operations, including strict internal audits and ongoing employee training[185]. - The group plans to diversify its hospital services to meet various patient needs, from general disease treatment to specialized care, over the coming years[177]. Shareholder Information - The company did not recommend a final dividend for the year ended March 31, 2024, compared to no dividend in the previous year[62]. - The company does not recommend the distribution of a final dividend for the year ended March 31, 2024, consistent with the previous year[150]. - The weighted average number of ordinary shares issued remained at 563,650,000 for both years[55]. - The company has undergone a share consolidation effective September 13, 2023, following shareholder approval[106]. Other Information - The group has no significant capital commitments as of March 31, 2024[95]. - The group did not receive any government subsidies in the current year, compared to HKD 192,000 in the previous year[196]. - The group has not identified any single customer contributing more than 10% to total revenue, indicating a diversified customer base[163]. - The company has not implemented any formal hedging policies to manage foreign exchange risks, as most transactions are conducted in RMB and HKD[98]. - Other losses, mainly from the sale of properties, plant, and equipment, amounted to approximately HKD 2,075,000 for the year ended March 31, 2024, compared to HKD 0 in the previous year[59].
金威医疗(08143) - 2024 - 年度业绩