Financial Performance - For the fiscal year 2024, the company's gross profit decreased from approximately HKD 14.7 million in fiscal year 2023 to about HKD 9.4 million, resulting in a gross margin decline from approximately 15.4% to 13.5%[6]. - The company reported a revenue of approximately HKD 69.9 million for the fiscal year 2024, a decrease of about 26.8% compared to HKD 95.5 million in fiscal year 2023[33]. - The total comprehensive loss attributable to equity holders for fiscal year 2024 was approximately HKD 28.4 million, compared to HKD 20.5 million in fiscal year 2023[33]. - Operating loss for fiscal year 2024 was approximately HKD 22.7 million, slightly higher than HKD 21.2 million in fiscal year 2023, excluding one-time items[33]. - The impairment of assets increased significantly to approximately HKD 6.5 million in fiscal year 2024 from HKD 2.4 million in fiscal year 2023, reflecting current market conditions[28]. Income and Expenses - Other income significantly dropped from approximately HKD 3.9 million in fiscal year 2023 to around HKD 190,000 in fiscal year 2024, primarily due to a reduction of about HKD 3.3 million in government subsidies[7]. - Administrative and other expenses decreased to approximately HKD 32.9 million in fiscal year 2024, down about 11.0% from HKD 37.0 million in fiscal year 2023[34]. - Total sales cost decreased from approximately HKD 80.8 million in fiscal year 2023 to about HKD 60.5 million in fiscal year 2024, aligning with the reduction in sales orders[42]. - The total cost of retirement benefit plan contributions deducted from profit and loss for the fiscal year 2024 is approximately HKD 0.7 million, compared to HKD 1.0 million for the fiscal year 2023[61]. Assets and Liabilities - Right-of-use assets increased by approximately 157.4% to about HKD 20.5 million as of March 31, 2024, primarily due to the acquisition of new printing equipment[37]. - Trade and other receivables increased from approximately HKD 6.0 million as of March 31, 2023, to about HKD 11.1 million as of March 31, 2024[48]. - Cash and cash equivalents rose from approximately HKD 5.0 million as of March 31, 2023, to about HKD 9.8 million as of March 31, 2024, primarily due to the net proceeds from the rights issue[57]. - Current liabilities net value decreased from approximately HKD 16.6 million as of March 31, 2023, to about HKD 6.8 million as of March 31, 2024[49]. - The total lease liabilities as of March 31, 2024, were approximately HKD 24.5 million, compared to HKD 11.3 million as of March 31, 2023[49]. Employment and Human Resources - The company employed 39 full-time employees as of March 31, 2024, down from 69 employees as of March 31, 2023, with employee costs for fiscal year 2024 at approximately HKD 20.3 million[53]. - The group regularly reviews and determines employee compensation based on their roles, responsibilities, experience, and skills[161]. - The total employee costs for the fiscal year 2024 are approximately HKD 20.3 million, down from HKD 26.0 million in the fiscal year 2023[190]. Strategic Plans and Investments - The company announced plans to expand its printing business into mainland China starting from the fiscal year ending March 31, 2025, aiming to enhance market coverage and create new opportunities[1]. - The company has committed to a financing lease agreement for new printing machines, indicating a strategic investment in operational capacity[94]. - The company plans to upgrade its IT systems with an investment of approximately HKD 0.9 million, which is part of the total planned use of proceeds[83]. Rights Issue and Proceeds - The company entered into an underwriting agreement for a rights issue, with New Metro agreeing to underwrite up to 163,602,300 shares[22]. - The total proceeds from the rights issue amounted to approximately HKD 34.4 million, with a net amount of about HKD 32.7 million after expenses[98]. - The net proceeds are planned to be used for repaying trade and other payables (HKD 8.6 million), partially repaying a shareholder loan (HKD 16.2 million), and general working capital (HKD 8.2 million)[99]. - As of January 8, 2024, the company has utilized HKD 24.8 million of the net proceeds, leaving approximately HKD 7.9 million unutilized[99]. Corporate Governance and Compliance - The board of directors does not recommend the payment of a final dividend for the fiscal year 2024, consistent with the previous fiscal year[62]. - The company has not identified any significant non-compliance with relevant laws and regulations that could materially impact its business operations as of March 31, 2024[197]. - Independent non-executive directors have reviewed compliance and confirmed adherence to all non-competition commitments as of March 31, 2024[192]. Related Party Transactions - Related party transactions have been conducted under normal commercial terms and are deemed fair and reasonable, aligning with the interests of the company and its shareholders[178]. - The company has obtained independent shareholder approval for related party transactions in accordance with GEM listing rules[187].
环球印馆(08448) - 2024 - 年度财报