Financial Position - The company has a current liability of approximately HKD 67,652,000, but only has cash and cash equivalents of about HKD 473,000[33]. - The asset-liability ratio as of March 31, 2024, is approximately 0.94%, compared to 1.07% as of March 31, 2023[24]. - Total assets as of March 31, 2024, amounted to 336,134,000 HKD, while total liabilities were 70,085,000 HKD[66]. - The company’s total equity increased to HKD 266,049,000 from HKD 232,995,000, showing a strengthening of the financial position[52]. - The group’s total liabilities for trade and other payables increased to HKD 41,900,000 as of March 31, 2024, from HKD 19,626,000 as of March 31, 2023[126]. - There are no significant contingent liabilities reported for the company as of March 31, 2024, and March 31, 2023[188]. Cash Flow and Liquidity - The company reported a net operating cash outflow of approximately HKD 32,319,000 for the year ended March 31, 2024, indicating significant uncertainty regarding its ability to continue as a going concern[33]. - The company reported a net cash outflow from operations of approximately 32,319,000 HKD for the fiscal year ending March 31, 2024[77]. - The company has current liabilities of approximately 67,652,000 HKD, with cash and cash equivalents of only about 473,000 HKD, indicating significant liquidity concerns[77]. - The company has initiated a new alcoholic beverage sales business, anticipating it will generate stable cash flow and diversify revenue streams[136]. - The group’s cash flow from operations is expected to improve due to the new alcoholic beverage segment, which is projected to enhance financial performance and profitability[136]. Revenue and Profitability - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 233,681,000, an increase of 4.1% from HKD 223,853,000 in the previous year[57]. - The gross profit for the year was HKD 37,789,000, compared to HKD 12,049,000 in the previous year, indicating a significant improvement[51]. - The net profit attributable to the owners of the company was HKD 15,818,000, recovering from a loss of HKD 25,192,000 in the previous year[43]. - The company recorded a total comprehensive income of HKD 11,908,000, a substantial recovery from a loss of HKD 56,754,000 in the previous year[50]. - The company reported a profit before tax of HKD 23,870,000 for the year, compared to a loss of HKD 30,709,000 for the previous year[88]. - The liquor sales division generated a profit of HKD 28,040,000, indicating strong performance in this segment[109]. - The company plans to strengthen cost control measures to improve profitability and operational cash flow in the future[78]. Business Operations - The company has made a full impairment of its investment in the joint venture Manrui Bio for the year ended March 31, 2022[10]. - The company has exclusive licensing rights for the "Emperor Pool" liquor brand in China, which commenced sales in September 2023[112]. - The company has reduced its workforce to 13 full-time employees and 0 part-time employees as of March 31, 2024, down from 13 full-time and 1 part-time employee the previous year[19]. - The company plans to continue focusing on its health products and liquor sales, which have shown promising revenue growth[57]. - The company is actively exploring new business opportunities to create value and deliver higher returns to shareholders[136]. Investments and Prepayments - The company made a prepayment of HKD 28,889,000 to Supplier A for disinfectant products, which was later canceled, and a refund of approximately HKD 23,333,000 was received[143]. - The company prepaid HKD 69,565,000 to Supplier B for disinfectant products after canceling the agreement with Supplier A[150]. - The company made a prepayment of approximately HKD 8,081,000 to Supplier C for vehicle modification services, which has not been provided as planned[144]. - The company sold its subsidiary related to vehicle modification services, recording a gain of approximately HKD 2,116,000[152]. - The company invested RMB 30,000,000 (approximately HKD 36,990,000) and RMB 25,000,000 (approximately HKD 30,824,000) in two joint ventures, holding 25% equity in each[141]. Compliance and Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange Listing Rules as of March 31, 2024[21]. - The company will continue to review and take appropriate measures to comply with corporate governance codes[191]. - The audit committee has agreed on the handling of prepayments made to Suppliers B and C[182][183]. Shareholder Returns - The company did not recommend any dividend payments for the year ended March 31, 2024[97]. - The board does not recommend the payment of a final dividend for the year ending March 31, 2024, consistent with the previous year[185]. - Basic and diluted earnings per share for the year ended March 31, 2024, were approximately HKD 0.96, compared to a loss of HKD 1.71 per share for the year ended March 31, 2023[165].
莲和医疗(00928) - 2024 - 年度业绩