Revenue Performance - For the year ended March 31, 2024, revenues from Hong Kong, Macau, and other Asian regions were approximately HK$145.6 million, HK$1.6 million, and HK$384,000 respectively, showing a decline from HK$168.2 million, HK$2.4 million, and HK$0 in 2023[21] - Revenue from Hong Kong, Macau, and other Asian markets for the year ending March 31, 2024, was approximately HKD 145.6 million, HKD 1.6 million, and HKD 0.384 million respectively, compared to HKD 168.2 million, HKD 2.4 million, and HKD 0 million in 2023[25] - For the year ended March 31, 2024, the Group recorded total revenue of approximately HK$147.6 million, a decrease of approximately 13.5% compared to HK$170.6 million for the same period in 2023[62] - Revenue from flooring services decreased by HK$19.2 million to HK$123.8 million in 2024, down from approximately HK$143.0 million in 2023[64] - Revenue from ancillary services decreased by HK$4.1 million to HK$23.0 million in 2024, down from approximately HK$27.1 million in 2023[65] - Revenue from Hong Kong was approximately HK$145.6 million in 2024, compared to approximately HK$168.2 million in 2023, representing a decrease of about 13.4%[61] - Revenue from Macau was HK$1.6 million in 2024, down from approximately HK$2.4 million in 2023[61] Market Conditions - The company noted that the demand in the commercial and private residential markets in Hong Kong and Macau remained relatively weak due to slowing global economic conditions and uncertainty in the property sector[22] - The company noted a decline in demand in the commercial and residential markets due to a slowdown in the global economy and uncertainty in the real estate sector in Hong Kong and Macau[25] - Global inflation and increased interest rates have resulted in higher borrowing costs, adversely impacting property developers' willingness to purchase land for construction projects[22] - The directors expect the business environment in Hong Kong and Macau to remain challenging in the coming years[23] - The board anticipates continued challenges in the business environment in Hong Kong and Macau and will monitor market conditions closely[26] Financial Performance - Profit attributable to owners of the Company decreased from approximately HK$19.1 million for the year ended March 31, 2023, to approximately HK$13.9 million for the year ended March 31, 2024[62] - The Group's annual profit attributable to owners decreased from approximately HK$19.1 million for the year ended 31 March 2023 to approximately HK$13.9 million for the year ended 31 March 2024, representing a decline of about 27.5%[97] - The Group's income tax expense decreased from approximately HK$4.2 million for the year ended 31 March 2023 to approximately HK$3.7 million for the year ended 31 March 2024, reflecting a reduction in profit before tax from approximately HK$24.0 million to approximately HK$18.5 million[96] Operational Adjustments - The company is making continuous efforts to diversify its revenue sources by exploring business opportunities in developing and growing economies in the Asian regions[22] - The company is actively seeking alternative business opportunities and exploring new sources of income globally to diversify risks for shareholders[28] - The company aims to maintain competitiveness in the carpark flooring and waterproofing sectors while further developing its existing business[30] Financial Position - As of 31 March 2024, the Group maintained cash and cash equivalents of approximately HK$46.2 million, an increase from approximately HK$34.4 million as of 31 March 2023[100] - The Group's current ratio improved to approximately 2.6 times as of 31 March 2024, compared to approximately 2.4 times as of 31 March 2023[100] - Total interest-bearing borrowings increased to approximately HK$15.5 million as of 31 March 2024, up from approximately HK$14.0 million as of 31 March 2023[101] - The total assets of the Group rose to approximately HK$181.3 million as of 31 March 2024, compared to approximately HK$174.3 million as of 31 March 2023[102] - The gearing ratio as of 31 March 2024 was approximately 10.9%, slightly up from approximately 10.5% as of 31 March 2023[105] - The Group's total equity increased to approximately HK$126.5 million as of 31 March 2024, compared to approximately HK$118.7 million as of 31 March 2023[102] Governance and Management - The Board is responsible for directing and supervising the Company's affairs, meeting regularly to review financial and operational performance[143] - The Company has complied with the principles and applicable code provisions of the Corporate Governance Code for the year ended March 31, 2024[135] - The Company has appointed four independent non-executive directors, representing at least one-third of the Board, ensuring independent judgment[153] - The Board is responsible for formulating business strategy, reviewing financial statements, and monitoring business performance[166] - The Company has received annual confirmations of independence from each independent non-executive director, affirming their independence as of the report date[154] - The Board has reviewed and discussed the corporate governance policies and compliance with the CG Code, finding them effective[165][167] - The Company is committed to a well-balanced Board and has a nomination committee to review human resources policies and recruitment processes[150] Employee and Operational Metrics - As of March 31, 2024, the Group had a total of 54 employees, an increase from 52 employees in 2023[123] - Employee costs for the year ended March 31, 2024, were approximately HK$27.1 million, up from approximately HK$23.6 million in 2023, representing an increase of about 18.5%[123] - The gender ratio of the Group's employees as of March 31, 2024, was approximately 87.0% male and 13.0% female, with plans to gradually increase the proportion of female staff[124] Committees and Meetings - The Audit Committee held 4 meetings during the year ended March 31, 2024, with full attendance from Mr. Law Pui Cheung and Ms. Yu Wan Wah Amparo, and 3 out of 4 meetings attended by Mr. Wat Danny Hiu Yan[185] - The Remuneration Committee conducted 2 meetings on August 9, 2023, and February 5, 2024, to review and recommend remuneration policies for Directors and senior management[192] - The Company emphasizes continuous professional development for Directors, with training records maintained for each Director[171] - The Company has established four Board committees, including the Audit Committee, to oversee specific aspects of its affairs[177]
邝文记(08023) - 2024 - 年度财报