Financial Performance - The group's revenue for the year ended March 31, 2024, was HKD 187,193,000, a decrease of 9.5% from HKD 206,936,000 in the previous year[5] - Gross profit increased to HKD 4,638,000, compared to HKD 2,500,000 in the previous year, reflecting a significant improvement[5] - The net loss for the year was HKD 24,671,000, a reduction from a loss of HKD 26,771,000 in the previous year, indicating a slight improvement in financial performance[5] - Basic and diluted loss per share improved to HKD 2.16 from HKD 2.85 in the previous year[7] - The total loss before tax for the year ended March 31, 2024, was HKD 24,751, slightly improved from a loss of HKD 25,919 in the previous year[33][35] - For the fiscal year ending March 31, 2024, the company reported a loss attributable to shareholders of HKD 24,671,000, compared to a loss of HKD 26,771,000 for the previous year, representing a decrease of 7.8% in losses[54] - The company recorded a net loss of approximately HKD 24.7 million for the fiscal year ending March 31, 2024, a decrease of about HKD 2.1 million or 7.8% compared to the previous year[70] Revenue Breakdown - Revenue from air freight services was HKD 175,546, down 10.3% from HKD 195,621 in the previous year[33] - The e-commerce platform management services generated HKD 3,941 in revenue, compared to HKD 3,941 in the previous year, indicating no growth[33] - The fashion goods trading segment reported revenue of HKD 11,647, an increase of 57.5% from HKD 7,374 in the previous year[33] - Revenue from the fashion goods trade increased by 56.7% to approximately HKD 11.6 million, with trade receivables from clients rising by 324% to approximately HKD 10.6 million[88] Assets and Liabilities - Total assets decreased to HKD 88,380,000 from HKD 80,003,000, while current liabilities increased to HKD 32,773,000 from HKD 20,750,000[9] - The company's equity decreased to HKD 58,685,000 from HKD 61,714,000, reflecting a decline in overall financial health[11] - Trade and other receivables increased significantly to HKD 68,207,000 from HKD 46,415,000, indicating improved collection or sales[9] - Trade receivables increased significantly to HKD 33,309,000 in 2024 from HKD 20,709,000 in 2023, marking a growth of 60.7%[57] - Trade payables increased to HKD 21,409,000 in 2024 from HKD 12,707,000 in 2023, a rise of 68.7%[60] Cash Flow and Financing - The company raised HKD 22,512,000 from the placement of new shares during the year, enhancing its capital base[13] - The group’s cash and cash equivalents were approximately HKD 14.8 million as of March 31, 2024, down from approximately HKD 25.7 million a year earlier[93] - The group’s debt-to-equity ratio decreased to approximately 2.7% as of March 31, 2024, from approximately 5.2% a year earlier, due to a reduction in lease liabilities and an increase in total equity[93] - The financing costs for the year were HKD 101, a decrease of 37.6% from HKD 162 in the previous year[46] Operational Strategy and Future Plans - The company plans to continue focusing on market expansion and new product development to drive future growth[5] - The company is exploring new business opportunities in the fashion goods trade, diversifying its revenue base to reduce reliance on existing logistics operations[71] - The company plans to closely monitor global market conditions and logistics demand to adjust its operational strategies accordingly[70] - The air freight market remains challenging despite the lifting of pandemic-related restrictions, with management expecting a gradual improvement in consumer sentiment as market conditions stabilize[106] Employee and Governance - Employee costs (excluding directors and CEO remuneration) totaled HKD 11,064,000 in 2024, compared to HKD 10,646,000 in 2023, an increase of 3.9%[51] - The company has implemented a stock option plan to incentivize and retain employees contributing to its development and success[107] - Management emphasizes the importance of maintaining strong relationships with employees, customers, suppliers, and subcontractors to ensure business success[112] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements and compliance with accounting principles for the year[129] Compliance and Regulations - The company has adhered to all relevant environmental laws and regulations in Hong Kong and China, promoting energy-saving initiatives and resource conservation[110] - The company has adhered to the corporate governance code as stipulated in the GEM Listing Rules from April 1, 2023, to March 31, 2024, with specific deviations resolved during the year[119] - All directors confirmed compliance with the trading standards for securities transactions from April 1, 2023, to March 31, 2024[120] - No significant related party transactions or ongoing related party transactions were established during the year, in compliance with GEM Listing Rules[122]
万励达(08482) - 2024 - 年度业绩