Share Capital and Ownership - The company reported a total of 2,260,000,000 shares issued as of the update date, with a 10% share option plan authorization allowing for the issuance of 226,000,000 shares[15] - Major shareholders include Ms. He Chaozhen with 407,890,000 shares (15.61%) and Ms. Wen Yingyi with 441,900,000 shares (16.91%)[6] - The company has established a share option plan allowing eligible individuals to be granted options to subscribe for shares[13] - The company has not disclosed any other individuals or entities with significant interests in the company's shares as of March 31, 2024[8] Financial Performance - Revenue for the fiscal year 2024 was HKD 88,177,000, a decrease of 3.9% from HKD 90,992,000 in 2023[30] - Gross profit increased to HKD 18,271,000, up 64.1% from HKD 11,147,000 in the previous year[30] - The company reported a pre-tax profit of HKD 166,000 compared to a loss of HKD 132,000 in 2023[30] - The company reported a loss for the year of HKD 295,000, an improvement from a loss of HKD 1,026,000 in the previous year[30] Assets and Liabilities - Trade receivables amounted to HKD 26,025,000, significantly up from HKD 3,896,000 in the previous year[31] - Current assets totaled HKD 64,816,000, an increase from HKD 40,038,000 in 2023[31] - The net current asset position was HKD 17,993,000, slightly down from HKD 18,714,000 in the previous year[31] - Total equity attributable to the owners of the company was HKD 18,951,000, down from HKD 19,278,000 in 2023[32] - The expected credit loss provision for trade receivables was approximately HKD 632,000[48] - The company’s total assets less current liabilities stood at HKD 19,372,000, slightly down from HKD 19,651,000 in 2023[31] Compliance and Governance - The company has adopted and implemented strategies and policies related to environmental, social, and governance (ESG) reporting as per GEM listing rules[10] - The company is committed to ensuring compliance with Hong Kong Financial Reporting Standards and the Companies Ordinance[23] - There were no significant transactions or arrangements involving directors with substantial interests during the fiscal year[4] - No conflicts of interest were reported between directors and the company's business activities during the fiscal year[11] - The company has not granted any rights to directors or their immediate family members to benefit from acquiring shares or debt securities of the company[9] Accounting Policies and Practices - Revenue from dry bulk shipping and logistics services is recognized based on the percentage of completion method for individual voyage contracts[62] - Interest income is recognized using the effective interest method, impacting the overall financial performance of the group[63] - The group provides brand management and marketing consulting services, with revenue recognized upon completion of all related responsibilities as per the contract[83] - The group applies exemptions for short-term leases and low-value asset leases, recognizing lease payments as expenses on a straight-line basis[87] - Depreciation of property, plant, and equipment is calculated using the straight-line method based on estimated useful lives, impacting asset valuation[84] - The group has adopted a practical expedient for lease liabilities, adjusting for any changes in lease terms or purchase options[75] - The group recognizes refundable rental deposits according to HKFRS 9, initially measured at fair value, with adjustments treated as additional lease payments included in the cost of right-of-use assets[90] - Lease liabilities include payments for the exercise price of purchase options if the group reasonably determines to exercise that right[92] - The group will remeasure lease liabilities and adjust the corresponding right-of-use assets in cases of lease modifications, excluding Covid-19 related rent concessions[93] - Rental income from operating leases is recognized on a straight-line basis over the lease term, with initial direct costs capitalized and amortized over the lease term[95] - Deferred tax assets are reviewed at each reporting period end and reduced if it is no longer probable that sufficient taxable profits will be available to recover all or part of the asset[101] - Financial assets and liabilities are initially measured at fair value, with transaction costs directly attributable to the acquisition or issuance deducted from the fair value[105] - The group recognizes lease liabilities at the present value of unpaid lease payments at the lease commencement date, using the incremental borrowing rate if the implicit rate is not readily determinable[111] - The group applies HKFRS 15 to allocate contract consideration to lease and non-lease components based on relative standalone selling prices[119] - The group will remeasure lease liabilities through the use of the initial discount rate when lease payments change due to market rent surveys[115] - Interest income from finance leases is allocated to accounting periods to reflect the fixed periodic return on the group's net investment in the leases[117] - Deferred tax liabilities are recognized for taxable temporary differences related to investments in subsidiaries, except when the group can control the reversal of the temporary differences[121] - Deferred tax assets arise from deductible temporary differences related to such investments and are only recognized when there is sufficient taxable profit available to utilize the temporary differences[121] - The measurement of deferred tax assets and liabilities is based on the tax rates enacted or substantively enacted at the reporting date[122] - The group assesses whether tax deductions relate to right-of-use assets or lease liabilities when measuring deferred tax for lease transactions[123] - Current and deferred tax are recognized in profit or loss, except for items recognized in other comprehensive income or directly in equity[124] - Financial assets and liabilities are recognized when the group becomes a party to the contractual provisions of the instrument[126] - Interest income from financial assets is presented as other income[127] - Expected credit losses are measured based on historical data and adjusted for forward-looking information[139] - The group uses a practical expedient to estimate expected credit losses for trade receivables based on historical credit loss experience[139] - The effective interest method is used to calculate the amortized cost of financial assets or liabilities and to allocate interest income or expense over the relevant period[141] - The group consistently recognizes expected credit losses for trade receivables, assessing significant debtors individually and using a matrix for collective assessment of similar credit ratings[149] - The group assumes that credit risk has significantly increased when contract payments are overdue by more than 30 days, unless there is reasonable evidence to the contrary[151] - The expected credit loss is calculated as the difference between all contractual cash flows due and the cash flows expected to be received, discounted at the effective interest rate determined at initial recognition[154] - The group recognizes dividends from equity instruments in profit or loss unless it is clearly shown that the dividends are used to recover part of the investment cost[145] - Financial assets measured at fair value through profit or loss are assessed at fair value at each reporting date, with any gains or losses recognized in profit or loss[146] Corporate Governance and Reporting - The group has established a nomination committee that held two meetings during the fiscal year to discuss board structure and diversity[156] - The audit committee has reviewed and approved the remuneration for external auditors for audit and non-audit services[160] - The group’s main business is investment holding, with significant subsidiaries detailed in the consolidated financial statements[163] - The board is responsible for presenting a balanced and comprehensive assessment of the group's performance, condition, and prospects[171] - Unitas Holdings Limited reported its annual results for the fiscal year ending March 31, 2024[181] - The company is listed on the GEM board, which is known for higher investment risks compared to the main board of the Stock Exchange[185] - The annual report complies with the GEM listing rules and will be distributed to shareholders in accordance with regulatory requirements[187] - The company has a diverse board of directors, including both executive and independent non-executive members[188] - The financial summary and consolidated financial statements are included in the annual report, providing insights into the company's financial health[197] - The company emphasizes the importance of understanding the potential risks associated with investing in GEM-listed companies[190] - The report will be available on the Stock Exchange's website for at least seven days from the date of publication[189] - The company is registered in the Cayman Islands, indicating its international operational scope[198] - The authorized representatives for the company are key executives, ensuring accountability and governance[199] - The company aims to provide comprehensive healthcare services through its network of medical centers, although specific performance metrics were not disclosed in the provided content[180]
宏海控股集团(08020) - 2024 - 年度业绩