Financial Performance - The group's revenue increased by approximately HKD 15,045,000 or 2.8% to about HKD 553,537,000 for the year ending March 31, 2024, compared to approximately HKD 538,492,000 in the previous year[19]. - For the year ended March 31, 2024, the group reported total revenue of HKD 553.537 million, compared to HKD 538.492 million in the previous year, representing an increase of 2%[69]. - The gross profit for the year is HKD 87.834 million, down from HKD 94.936 million, indicating a decrease of approximately 7.3%[69]. - The profit before tax for the year is HKD 48.800 million, a decrease of 26% from HKD 65.977 million in the previous year[69]. - The total comprehensive income for the year is HKD 40.419 million, down from HKD 55.899 million, reflecting a decline of approximately 27.7%[68]. Assets and Liabilities - The group's total assets decreased from HKD 459,451,000 to HKD 427,420,000, while total liabilities decreased from HKD 405,689,000 to HKD 426,945,000[3]. - Non-current assets increased from HKD 60,868,000 to HKD 68,227,000, reflecting investment in property, plant, and equipment[4]. - The group has reduced contract liabilities from approximately HKD 16,332,000 as of March 31, 2023, to about HKD 6,791,000 as of March 31, 2024, a decrease of approximately 58.4%[45]. - Bank loans decreased from approximately HKD 47,550,000 as of March 31, 2023, to about HKD 23,594,000 as of March 31, 2024, a reduction of approximately 50.4%[47]. - The group's cash and cash equivalents, along with bank balances, are primarily generated from daily operations, indicating a strong financial position to support existing commitments and operational needs[24]. Operational Developments - The group is actively developing inbound consulting services, aiming to diversify revenue sources and capitalize on new business opportunities[18]. - The group has strengthened engineering quality management and cost control capabilities in response to economic challenges and inflation[17]. - The group aims to enhance service capabilities and market share through prudent financial management strategies[27]. - The group is focused on expanding its business scope and cross-regional development by identifying partners and seeking joint venture opportunities as needed[49]. - The group plans to expand its participation in commercial and government infrastructure projects and actively seek new business opportunities[164]. Sustainability and Innovation - The group aims to integrate energy-saving technologies and renewable energy into its electromechanical systems to achieve low-carbon transformation and develop a green economy[28]. - The group has been appointed as a founding member of the Greater Bay Area Carbon Neutrality Association to contribute to carbon neutrality efforts in the region[28]. - The group plans to actively seek partnerships in Hong Kong to promote energy-saving and emission reduction initiatives using innovative technologies and smart concepts[28]. - The group is collaborating with local universities to develop innovative technologies, contributing to the vision of making Hong Kong an international innovation and technology hub[187]. - The group will continue to invest in research and development, focusing on technologies such as blockchain and smart building systems[123]. Financial Ratios and Policies - As of March 31, 2024, the current ratio of the group is approximately 4.31 times, an increase from 3.14 times on March 31, 2023[50]. - The debt-to-equity ratio as of March 31, 2024, is approximately 8.5%, down from 15.2% on March 31, 2023[51]. - The group has maintained a cautious credit policy to mitigate credit risk, with no significant credit risks reported during the year[56]. - The group has no foreign currency hedging policy as foreign currency risk is considered not significant[34]. - The group will continue to monitor foreign exchange risks closely and consider hedging against significant foreign exchange risks if necessary[34]. Employee and Administrative Costs - The group employed 197 employees as of March 31, 2024, with total employee costs approximately HKD 94,084,000, an increase from about HKD 85,046,000 in the previous year[172]. - The group’s administrative expenses rose to HKD 40.670 million from HKD 34.102 million, an increase of about 19.3%[69]. - The group has implemented measures to enhance its collection processes and closely monitor customer financial conditions to maintain credit risk at a reasonable low level[56]. - Total employee costs increased to HKD 94,084,000 in 2024, up from HKD 85,046,000 in 2023, reflecting a rise of 10.4%[109]. Dividends and Shareholder Matters - The board proposed a final dividend of HKD 0.013 per share for the year, down from HKD 0.016 per share in 2023[92]. - The board proposed a final dividend of HKD 0.013 per share, amounting to approximately HKD 10,541,000, down from HKD 12,800,000 in the previous year[174]. - The group has adopted a share incentive plan at the annual general meeting held on September 15, 2023, aimed at attracting, retaining, and motivating eligible participants for the group's growth and development[195]. - The group maintains sufficient public float as per the listing rules up to the announcement date[199]. - The group has complied with the corporate governance code provisions, except for the provision that the roles of the chairman and the CEO should be separated[200].
高陞集团控股(01283) - 2024 - 年度业绩