Financial Performance - For the fiscal year ending March 31, 2024, the company reported revenue of HKD 31,917,000, an increase of 34.4% compared to HKD 23,764,000 in 2023[2]. - The cost of sales for the same period was HKD 26,062,000, resulting in a gross profit of HKD 5,855,000, up from HKD 3,413,000 in the previous year[2]. - The company incurred a loss before tax of HKD 17,660,000, significantly improved from a loss of HKD 51,165,000 in 2023[2]. - The total comprehensive loss for the year was HKD 35,178,000, compared to HKD 78,828,000 in the prior year, indicating a reduction in overall losses[2]. - Basic and diluted loss per share improved to HKD (8.73) from HKD (24.06) year-over-year[2]. - The group reported a net loss of approximately HKD 18,589,000 for the fiscal year ending March 31, 2024, a decrease of about 64% compared to a net loss of approximately HKD 51,210,000 for the fiscal year ending March 31, 2023[83]. - The annual loss for the year ending March 31, 2024, was HKD (18,589,000), a significant improvement from the loss of HKD (51,210,000) in the previous year, indicating a reduction in losses by approximately 63.7%[167]. Assets and Liabilities - The company's total assets decreased to HKD 196,826,000 from HKD 231,767,000, while total liabilities also decreased, indicating a potential improvement in financial stability[27]. - Total assets amount to HKD 307,229,000, with unallocated company liabilities of HKD 41,719,000[43]. - Total liabilities as of March 31, 2023, amounted to HKD 75,462 million[60]. - The group reported a total revenue of HKD 31,917,000 for the year ending March 31, 2024, compared to HKD 23,764,000 for the previous year, representing a year-over-year increase of approximately 34.4%[160]. - As of March 31, 2024, the debt-to-equity ratio was 0.14, compared to 0.13 in 2023, indicating a slight increase in leverage[94]. - Total borrowings amounted to approximately HKD 20,493,000, down from HKD 21,716,000 in 2023, while bonds payable decreased to HKD 6,960,000 from HKD 8,282,000[96]. Revenue Streams - Revenue from property development reached HKD 25,833,000, while total revenue across all segments was HKD 31,917,000[57]. - The company reported a property development and sales revenue of HKD 25,833,000, which is an increase from HKD 13,392,000 in the previous year, reflecting a growth of approximately 93.2%[160]. - Revenue from property investment was approximately HKD 1,326,000, an increase of 8% from approximately HKD 1,226,000 for the fiscal year ending March 31, 2023[89]. - The company’s revenue from property management increased to HKD 655,000 from HKD 569,000, marking a growth of approximately 15.1%[160]. - Revenue from clean and renewable energy operations decreased by 52% to approximately HKD 4,103,000, down from HKD 8,577,000 in 2023, due to reduced power generation[121]. Operational Strategies - The company is actively communicating with main contractors and local government agencies to initiate the pre-sale of properties under development, which may enhance future cash flow[16]. - The group aims to accelerate the pre-sale and sale of its properties under development[52]. - The group has implemented cost control measures to improve future profitability and enhance operational cash flow[34]. - The group is exploring options to raise sufficient funds to repay loans and bonds, or negotiate extensions with lenders if necessary[52]. - The group is focused on improving cash flow by recovering outstanding trade receivables[35]. Corporate Governance and Compliance - The company has adopted all corporate governance code provisions as of March 31, 2024[133]. - The independent auditor's report indicated significant uncertainty regarding the group's ability to continue as a going concern[140]. - The company has no taxable profits for the years ending March 31, 2023, and March 31, 2024, resulting in no provisions for Hong Kong profits tax[67]. Future Outlook - The group remains optimistic about the Chinese real estate development industry and plans to align with national policies to capture potential market opportunities[88]. - The group plans to enhance its property management services following the completion of the Bagua City Project, aiming to establish a professional property management team[90]. - The group will continue to invest in renewable energy, believing it will bring sustainable long-term benefits and revenue[93]. - The group aims to diversify its business model and enhance its revenue streams to improve overall performance and outlook[93].
中国华星(00485) - 2024 - 年度业绩