Financial Performance - The Group recorded a revenue of approximately HK$112.7 million for the year ended 31 March 2024, representing an increase of 16.07% compared to approximately HK$97.1 million in the previous year[18]. - The loss for the Reporting Period amounted to approximately HK$16.1 million, a significant improvement from the loss of approximately HK$67.2 million in the last year[18]. - The loss attributable to owners of the Company for the Reporting Period was HK$21.1 million, compared to a net loss of approximately HK$67.2 million for the last corresponding period[18]. - The Group's loss for the year was approximately HK$16.1 million, a significant improvement from a loss of approximately HK$67.2 million in the previous year[19]. - The Group's revenue for the year ended March 31, 2024, was approximately HK$112.7 million, an increase of 16.07% from HK$97.1 million in the previous year, primarily driven by the advertising services segment[39]. - The loss attributable to the owners of the Company decreased to approximately HK$21.1 million from HK$67.2 million in the last reporting year, resulting in a loss per share of HK24.85 cents versus HK117.1 cents[68]. - The gross profit margin improved significantly to 21.74%, up from 13.9% in the previous year, mainly due to increased contributions from new business[69]. Revenue Segments - The advertising services segment generated approximately HK$66.3 million, a decrease of 22.0% compared to approximately HK$85.0 million in the prior year, primarily due to challenges in the Hong Kong advertising market[21]. - The new energy battery segment generated revenue of approximately HK$2.3 million, while sales of new energy off-road vehicles reached HK$10.5 million and health care products sales amounted to HK$33.7 million, both of which were new revenue streams for the Group[36]. - Advertising services revenue decreased to approximately HK$66.3 million, down 22.1% from HK$85.0 million, due to increased digital consumption and a shift towards online channels[42]. - The sales of new energy off-road vehicles generated HK$10.4 million during the review period, following the acquisition of Weishi (Shenzhen) on June 26, 2023[48]. - Revenue from new energy battery sales was approximately HK$2.3 million, with significant advancements in graphene battery technology noted[50]. - The health care products segment generated approximately HK$33.7 million in revenue, following the acquisition of Zixing Health on August 30, 2023[51]. Business Strategy and Outlook - The Group plans to integrate its new energy battery business with the new energy off-road vehicle business to reduce costs and enhance market competitiveness[24]. - The management is optimistic about the business environment for the new energy battery segment, driven by favorable green energy policies and the recovery of the domestic economy in China[29]. - The Group is committed to exploring new business areas to support long-term growth amidst a challenging global economic environment[29]. - The Group aims to enhance product quality and innovate in the new energy battery technology to drive future revenue growth[23]. - The management anticipates better performance for the Chinese economy in 2024, supported by favorable government policies promoting new energy industries[58]. - The Group aims to maintain a stable operation in the advertising segment while capturing business opportunities as the economy recovers in 2024[45]. - The Group's five largest customers accounted for 42.9% of total revenue for the year, with the largest customer contributing 14.3%[164]. Financial Position and Liquidity - The Group raised approximately HK$29.8 million through the placing of 305,691,261 new ordinary shares at HK$0.10 per share, aimed at debt repayment and business expansion[57]. - As of March 31, 2024, the Group had cash and cash equivalents of approximately HK$6.7 million, down from HK$16.0 million as of March 31, 2023, due to high demand for financial resources[78]. - The current ratio improved to 2.71 from 2.52 as of March 31, 2023, indicating a reasonable liquidity level[78]. - The Group's outstanding borrowings were approximately HK$16.1 million, a decrease of 38.54% from approximately HK$26.2 million as of March 31, 2023[79][82]. - The Group's gearing ratio was 10.1% as of March 31, 2024, down from 20.1% as of March 31, 2023, reflecting a reduction in borrowings during the year[79][82]. - Total finance costs decreased by 45.6% to approximately HK$1.9 million, primarily due to reduced interest payments on borrowings[77]. Operational Efficiency and Cost Management - The Group's effective cost control measures and customer loyalty helped mitigate the negative impacts of the pandemic and weak market sentiments[36]. - Administrative expenses rose by 4.11% to approximately HK$32.9 million, primarily due to R&D costs and recruitment for new health product business[70]. - Impairment loss on trade receivables and other receivables decreased significantly to approximately HK$6.8 million from HK$43.0 million in the previous year[71]. - Total staff costs, including key management remuneration, increased to approximately HK$9.5 million in 2024 from HK$6.9 million in 2023, reflecting an increase in employee headcount to 42[87][90]. - The Group is committed to enhancing operational efficiency through improvements in lighting and air conditioning systems[143]. Governance and Risk Management - The company has appointed several experienced directors to strengthen its governance and strategic direction, including Mr. Luo and Ms. Liu[121][125]. - The management acknowledges the operational dependency on third-party service providers and engages only reputed providers to mitigate risks[138]. - The company has identified various financial risks, which are disclosed in note 6 to the consolidated financial statements[136]. - The Group has been actively monitoring the performance of third-party service providers to mitigate operational risks[144]. - The company has faced principal risks and uncertainties, which are detailed in the "Management Discussion and Analysis" section of the report[135]. Environmental Responsibility - The company recognizes its responsibility to protect the environment and aims to promote efficient use of resources and adopt green technologies for emission reduction[137]. - The company is actively monitoring its environmental impact and seeks to minimize it through various initiatives[137]. - The company aims to identify energy efficiency opportunities by measuring and recording energy consumption intensity[137]. Shareholder Information - The Group did not recommend the payment of a dividend for the year ended March 31, 2024, consistent with the previous year[147][154]. - The Group has no distributable reserves as of March 31, 2024, as required by the Companies Act of Bermuda[161]. - The Group did not make any charitable donations for the year ended March 31, 2024[162]. - There were no purchases, redemptions, or sales of the Company's listed securities during the year[160]. - No substantial shareholders or other persons had interests or short positions in shares or underlying shares that required disclosure as of March 31, 2024[198]. - None of the Directors or substantial shareholders engaged in any business that competes with the Group during the year ended March 31, 2024[199]. - The Company has adopted a share option scheme as an incentive for Directors and eligible employees[186]. - The remuneration of Directors and senior management is determined with reference to market rates and individual contributions[185].
嘉鼎国际集团(08153) - 2024 - 年度财报