Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 421.884 million, a significant increase from HKD 155.96 million in the previous year, representing a growth of approximately 170%[6] - The gross profit for the same period was HKD 5.446 million, up from HKD 3.487 million, indicating a gross margin improvement[6] - The company recorded a loss before tax of HKD 10.026 million, which is an improvement compared to a loss of HKD 33.163 million in the previous year, reflecting a reduction of approximately 70%[6] - The company reported a basic loss per share of HKD 4 cents, improved from HKD 20 cents in the previous year[6] - The company recorded a consolidated loss after tax of approximately HKD 10,526,000 for the year ending March 31, 2024[17] - The group reported a loss before tax of HKD 10,026,000 for the year ended March 31, 2024, compared to a loss of HKD 33,163,000 in the previous year, indicating an improvement in financial performance[21] - The group’s net loss decreased from approximately HKD 33,200,000 for the year ended March 31, 2023, to about HKD 10,500,000 for the year ended March 31, 2024[49] Assets and Liabilities - The total assets increased to HKD 107.168 million from HKD 84.138 million, marking a growth of about 27% year-over-year[7] - Current assets rose to HKD 99.312 million, compared to HKD 76.038 million in the previous year, indicating a growth of approximately 30%[7] - The total liabilities increased to HKD 95.778 million from HKD 83.252 million, reflecting a rise of approximately 15%[7] - The company's net asset value improved to HKD 11.390 million from HKD 0.886 million, showcasing a substantial increase[8] - The company's total liabilities and equity were approximately HKD 95,800,000 and HKD 11,400,000 respectively as of March 31, 2024, compared to HKD 83,300,000 and HKD 800,000 as of March 31, 2023[65] - The current ratio improved to approximately 1.04 times as of March 31, 2024, compared to approximately 0.91 times as of March 31, 2023[65] Revenue Sources - Revenue from construction management services decreased to HKD 13,089,000 in 2024 from HKD 13,496,000 in 2023, a decline of 3.0%[27] - Revenue from consulting services significantly increased to HKD 8,795,000 in 2024 from HKD 2,100,000 in 2023, marking a growth of 318.8%[27] - The contribution of consulting business in China to total revenue rose from 13.5% last year to 40% this year[52] Cost Management - The company is focusing on reducing administrative expenses, which decreased to HKD 11.919 million from HKD 12.930 million, a reduction of about 8%[6] - Service costs increased by approximately HKD 4,300,000 or 35.8% to about HKD 16,400,000 for the year ended March 31, 2024, compared to approximately HKD 12,100,000 for the previous year[55] - Administrative expenses decreased by approximately HKD 1,000,000 or 7.8% to about HKD 11,900,000 for the year ended March 31, 2024, down from approximately HKD 12,900,000[58] Future Plans and Strategies - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[6] - The group plans to enhance operational efficiency through cost control measures to improve profitability and future cash flow[20] - The company plans to expand its business in China, investing in construction projects and enhancing its management contracting and consulting services[81] - The company plans to raise funds through a rights issue, which is expected to provide necessary financial resources to support its strategic objectives in China and other regions[82] Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and presented in Hong Kong dollars (HKD)[12] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2023, with no significant impact on the financial statements[15] - The company emphasizes the importance of good corporate governance and has adopted all applicable corporate governance codes as of March 31, 2024[87] Risks and Uncertainties - There is significant uncertainty regarding the company's ability to continue as a going concern due to current cash levels not being sufficient to settle all current liabilities[17] - The group identified major risks and uncertainties affecting financial performance, including reliance on project-based income and irregular revenue generation[94] - The group’s ability to undertake projects is contingent on available human and other resources, with large projects consuming significant resources and potentially impacting overall performance[94] Shareholder Information - The board did not declare or propose any dividends for the years ended March 31, 2024, and March 31, 2023[64] - At least 25% of the company's issued share capital is held by the public as of the end of the financial year on March 31, 2024[92] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the financial year ending March 31, 2024[90]
浩柏国际(08431) - 2024 - 年度业绩